News
Richemont, Signet in talks to join De Beers consortium – report
Luxury group Richemont and US retailer Signet Jewelers are in advanced talks to join the Global Diamond Consortium (GDC) bidding for De Beers, according to five people familiar with the matter, Bloomberg reports.
Today
Silver market deficit to widen in 2026 - report
In the latest World Silver Survey prepared by the Silver Institute and Metals Focus, the global silver market deficit is forecast to widen for the sixth consecutive year to 46.3 million ounces.
Today
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
Let’s Set Our Sights on the Auctions
22 august 2019
(diamonds.net) - De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were insistent with their messaging: This, too, shall pass. The executives recognized that the challenges came from within the trade rather than a slump in consumer demand, even as they acknowledged the prevailing macroeconomic uncertainty. They observed that there was excess polished inventory and a shortage of liquidity in the midstream.
Jewelry Now Officially Part of Trump’s Trade War
21 august 2019
(jckonline.com) - President Donald Trump’s decision to impose 10% tariffs on $300 billion of Chinese products on Sept. 1 will mean added costs for products used by U.S. jewelers. The president’s decision, announced via tweet, basically covers all remaining products imported by China that weren’t covered in the first three rounds of tariffs. Included on the list: diamonds; cultured and natural pearls; precious stones, including rubies, emeralds, and sapphires; synthetic precious stones, including diamonds; silver jewelry; gold necklaces and neck chains; religious jewelry; toy jewelry; and more.
De Beers demystifies lab diamonds
20 august 2019
(m.dailyhunt.in) - Competitors in the Lab Grown Diamonds (LGD) sector have begun marketing their products legitimately instead of confusing customers that they are exactly like the natural occurring ones. De Beers Group Executive Vice President- Diamond Trading, Paul Rowley confirmed this at the group's announcement of its Interim Financial Results in Gaborone in early August.
Judge Certifies Signet Investor Lawsuit as a Class Action
19 august 2019
(nationaljeweler.com) - A federal judge in New York has certified a lawsuit filed by shareholders against Signet Jewelers Ltd. as a class action and declined the retailer’s request to revisit the ruling. The lawsuit, filed in 2016 by The Public Employees’ Retirement System of Mississippi, accuses the retailer of misrepresenting two aspects of the company: the health of its credit portfolio (which the company has since outsourced) and the depth and breadth of allegations of a culture of “pervasive” sexual harassment. The suit now includes all persons or entities that acquired Signet common stock from Aug. 29, 2013 to May 25, 2017.
What China’s Gen Z Really Thinks of the Fake Luxury Market
16 august 2019
() - Not only are Chinese Gen Zers among the world’s best-informed consumers on intellectual property rights (IPR), their attitude towards buying fake goods are also more likely to be driven by morality rather than financial considerations. These are two findings from a new report by the International Trademark Association (INTA), which researched consumer attitudes among Gen-Z consumers from 10 different countries.
