News
Tharisa signs PGM offtake deal with Valterra Platinum, expands chrome collaboration
South Africa’s Tharisa has entered a binding arrangement for the sale of PGM concentrate to Rustenburg Platinum Mines, a subsidiary of Valterra Platinum, effective 1 January 2027.
Today
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Yesterday
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Yesterday
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Yesterday
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Yesterday
Sparkle fades for diamond industry as demand wanes
11 september 2019
(thenational.ae) - Millennials are killing the diamond industry. At least, they are taking their money and spending it elsewhere, much to the dismay of jewellers and diamond miners. Diamond sales are struggling precisely at a time when a new generation of young people are expected to be getting married – with young men especially digging into their wallets to pay for engagement rings. When they do spend money on diamonds, it is just as likely to be a synthetic stone, grown in a laboratory rather than retrieved from a mine. Martin Rapaport, editor of the diamond industry’s voice, Rapaport Diamond Report said as much in a recent widely circulated editorial.
Lab-grown diamond brands are strategizing to offer IRL shopping experiences
10 september 2019
(glossy.co) - As more millennials enter engagement and marriage territory, the direct-to-consumer lab-grown diamond industry continues to grow. Since 2016, brands from ALTR, Brilliant Earth, Couple, Ada Diamonds and more have popped up, targeting young, ethically minded customers likely concerned with the diamond industry’s notoriously corrupt practices. At the same time, diamond sales have been on the decline.
Is the sparkle fading?
09 september 2019
(mumbaimirror.indiatimes.com) - According to data compiled by The Gem and Jewellery Export Promotion Council (GJEPC), India’s exports of polished diamonds between April and July dropped to $6.7 billion (a little over Rs 48,012 Crore) as compared to $8 billion (over Rs 57,328 Crore) during the same period last year. Macroeconomic uncertainty, the impact of the US-China trade war, low consumer confidence and large inventories of polished stones, are just some of the challenges before the industry. It’s also been grappling with the threat of diamonds produced by chemical vapour deposition (CVD). And while Paul Rowley, De Beers Group’s EVP — diamond trading and distribution, acknowledges that these and other challenges will make for a bumpy road ahead, he remains optimistic about the industry’s long-term prospects.
Recession hits diamond trade in India
06 september 2019
(diamondworld.net) - The recession in diamond industry in the last six months has become more acute, with the purchase of rough stones by diamantaires based in Surat and Mumbai falling to the lowest level in the last 10 years since the global economic recession hit the industry in 2009. The diamantaires are said to be sitting on a huge inventory and have deferred purchase of roughs worth Rs 14,000 crore during the period.
Global demand for polished diamonds to be affected
05 september 2019
(timesofindia.indiatimes.com) - Political unrest and continuing protests in Hong Kong against an extradition bill have cast a dark shadow over the prospects of participation of Indian diamantaires in Hong Kong Gems and Jewellery Show to be held in September. Industry experts said Hong Kong Gems and Jewellery show happens to be the world’s largest event after JCK Las Vegas Jewellery Show and that it is a gateway to consumer demand in the world.
