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.
Yesterday
Rio Tinto begins Q4 of 2026 with strong operational performance
The Anglo-Australian mining group Rio Tinto has reported its third-quarter 2026 results, highlighting strong operational performance.
Yesterday
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.
Yesterday
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.
Yesterday
Norilsk hosts Nornickel’s 3rd Geology and Mine Surveying Forum
The 3rd Geology and Mine Surveying Forum, organized by Nornickel, has kicked off in Norilsk. The event continues to grow in scope, this year bringing together representatives from universities, equipment suppliers, design teams, mining companies, and...
Yesterday
Diamond Trade Must Find A Way Around Negative Developments
21 september 2018
(idexonline.com) - Clearly, the issue of industry financing remains acute. It will certainly once again be a major issue for debate among presidents and national delegations from the World Federation of Diamond Bourses and the International Diamond Manufacturers Association at the 38th World Diamond Congress set to take place in Mumbai on October 23-25.
AGD buys Grib Diamonds trading company from major shareholder to create full-cycle enterprise
20 september 2018
Arkhangelskgeoldobycha (the mining licence holder for the Grib diamond pipe in the Arkhangelsk Region of Russia, now officially named AGD Diamonds) consolidated a 100-percent stake in Grib Diamonds N. V., a diamond trading company, AGD Diamonds said.
Fugitive Jewelers Rob Indian Business of Trade Pricing Edge
19 september 2018
(bloomberg.com) - Banks weren’t the only victims of fugitive jewelers Nirav Modi and Mehul Choksi, who allegedly orchestrated a $2 billion fraud. India’s trade may be an unsuspecting casualty. As the fraud unraveled, the central bank stepped in and banned short-term financing in foreign currency called Letters of Undertaking to limit the damage to the financial system. The result was the cost of funds for exporters and importers rose as the industry was forced to seek new credit tools, said Ajay Sahai, director general of the Federation of Indian Export Organisations in New Delhi. The worst hit are the smaller enterprises as the ban is eroding their margins and competitiveness. Trade credit is tough to secure after jeweler Modi used fake letters to obtain loans in banks abroad. That threatens to choke shipments of gems and jewelry -- the nation’s third-biggest export -- and widen the trade deficit, which is already the biggest in five years mainly on account of higher oil import bill.
Is De Beers’ Lightbox Brand Priced Too Low?
18 september 2018
(jckonline.com) - This week, an article appeared on Bloomberg saying that some producers are crying foul over De Beers’ Lightbox pricing: The lab-grown industry has filed a complaint with the U.S. Federal Trade Commission (FTC), accusing De Beers of price dumping and predatory pricing. “De Beers aren’t stupid,” said Chatham Chief Executive Officer Tom Chatham, who filed the complaint. “They know how to grow diamonds, but this equipment is not cheap. They are selling below cost.” After this article appeared, Tom Chatham told me that he sent in a comment to the FTC, but he wouldn’t consider it a formal complaint. (No attorney was involved.) The International Grown Diamond Association says that it hasn’t filed a complaint and has no plans to.
Now or never for diamond deal of the century
17 september 2018
(mmegi.bw) - Debswana’s next decade of mining will likely be its most expensive, with the diamond giant having to dig deeper than it has before to retrieve the shiny stones. Keenly aware that its leverage on De Beers will only grow weaker as the end approaches, government is out to ensure its next deal with the diamond giant delivers the goods.
