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
Lightbox May Be More Disruptive Than You Think
24 august 2018
(jckonline.com) - Lately, when thinking about Lightbox, De Beers’ new line of lab-grown diamonds, I keep going back to Clayton Christensen’s theory of disruption, which I mentioned in my first post on the subject. Initially, Clay said, when confronted with cheaper “disruptive” products, established companies scoff at them, arguing they are lower quality than what they offer. That, of course, is how the natural industry has largely talked about lab-growns: They’re not real or rare or worthy of emotional occasions. Yet, it also comports with how lab-grown companies have been talking about Lightbox.
Former Alrosa President Is Founder of Lab-Grown Venture
23 august 2018
(jckonline.com) - Andrey Zharkov, the former president of Russian diamond miner Alrosa, has made the move to lab-grown diamonds. Last year, Zharkov (pictured) started a lab-grown venture, called Ultra C, that will be based in Switzerland with subsidiaries in the United States, Russia, and Singapore. The company will sell loose diamonds, but it also hopes to start a lab-grown diamond jewelry brand, Zharkov tells JCK.
Political Rivalry Leads To US Dollar Reserve Currency Replacement Idea Being Raised Again
22 august 2018
(idexonline.com) - It's an idea that has been raised from time to time in the past. The last time that I recall it was suggested was following the 2008 financial crisis. The idea is to use other currencies instead of the US dollar for the purchase/sale of diamonds – as well as a wide range of internationally traded commodities. Russia's ALROSA, the world's leading rough diamond miner by volume, announced that it has tested a payment mechanism with foreign clients using the Russian currency, the ruble.
Russian miners eye rouble payments to limit the impact of US sanctions
21 august 2018
(businesslive.co.za) - Two of Russia’s biggest mining companies are investigating payment schemes based on the rouble, amid calls from Moscow to reduce the role of the dollar in Russian trade and so limit the impact of US sanctions. Russia favours trade with all countries in their national currencies, rather than the dollar, but the idea needed detailed work before being implemented, the Kremlin said. Russia’s Norilsk Nickel, the world’s top palladium producer, said on Wednesday it was discussing the possibility of settling payments in roubles with foreign customers that had signalled their readiness for such an arrangement. Russian miner Alrosa, the world’s largest producer of rough diamonds in carat terms, also said on Wednesday it was testing a mechanism to settle payments in Russia’s currency.
Diamond Resources Might Not Be Forever
20 august 2018
(diamonds.net) - While it’s true that value comes from rarity, no natural resource lasts forever, and the rare is becoming even rarer. Diamond production is set to peak in 2019, after which it will begin a steady decline. De Beers estimates global output will fall by 1% to 2% a year until 2030, while some analysts predict as much as a 5% annual drop. Regions that have heavily dominated the trade over the last five decades are now reaching the end of the line, and new exploration projects may not be able to compensate fully for their loss.
