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
How many miners would you kill to slip that diamond ring onto a finger?
08 august 2019
(businesslive.co.za) - As the diamond sector’s Kimberley Process goes into the final leg of its three-year review process, African diamond-producing states have everything to gain from expanding the mechanism’s scope. What role will SA play? Often uncompelled by the mere moral imperatives behind human rights or environmental concerns in mining, African governments tend to defer more readily to appeals to the “bottom line” in taking bold policy steps to address such issues. However, in the mining sector, and for diamonds specifically, serious environmental, social and governance (ESG) issues and the “bottom line” have again converged. Here, in dismissing civil society and recent industry calls to address them, African governments would be — to use a mining metaphor — ignoring the sector’s canary.
From spotting space junk to diamond-powered satellites: Inside the North East's booming space industry
07 august 2019
(telegraph.co.uk) - In the corner of a laboratory outside Durham, Dr Gareth Taylor is making diamonds in a microwave. “We're literally growing layers of diamond that are less than 50 atoms thick,” says Taylor, chief executive of Evince Technology. One reason this electronics start-up in the North-East of England is focused on diamonds is because of their potential to shake-up the way satellites can be manoeuvered 1,200 miles up in space.
Customs dept cracks down on 'rough diamonds', industry cries foul
06 august 2019
(retail.economictimes.indiatimes.com) - A packet of stones bearing the label ‘rough diamonds’ recently found its way to the customs department in Mumbai. It was part of a consignment for a city-based diamantaire, one of many similar packages. The accompanying shipping bill pegged its value as high as any high-yielding, rough-cut diamond lode. But the stones in this particular packet were quartz--they weren’t diamonds. It wasn’t a packing error, or a case of wrongful disclosure. What it represented, according to the customs department, was evidence of a scam that’s been brewing in the Indian diamond industry over the past few years.
De Beers CEO: Diamond Industry Malaise Will Pass
05 august 2019
(jckonline.com) - The current malaise in the diamond industry is serious, but it will pass, De Beers Group chief executive officer Bruce Cleaver tells JCK following the recent release of the company’s financial results.
The elite club that rules the diamond world is starting to crack
02 august 2019
(straitstimes.com) - It's one of the world's most exclusive clubs, known over the years as the Syndicate, the Central Selling Organisation and the Diamond Trading Company. For more than a century, De Beers has sold most of its rough diamonds to a select number of customers, a list that reads like a who's who of the opaque gem-trading world. Tiffany & Co, Graff Diamonds and Signet Jewelers Ltd all own subsidiaries in this group, guaranteeing a steady supply of gems with the pedigree of being vetted by De Beers. In the diamond trading world, becoming one of De Beers's elite buyers is viewed as essential to achieving success and making money. Now, it's no longer so easy.
