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
Football Player’s Suit Takes Aim at Jeweler’s Diamond Markup
25 april 2018
(jckonline.com) - New Orleans Saints quarterback Drew Brees (pictured) has sued a San Diego retailer, claiming the jeweler misled by selling him “investment grade” diamonds with too high a markup. In a suit filed April 2 in San Diego Superior Court by Brees and wife Brittany, the football star claimed that, over the course of a decade, he had purchased $15 million in colored diamonds from local retailer CJ Charles Jewelers. However, in early 2017, Brees’ financial advisor recommended he get the diamonds appraised, the suit said. “The independent appraiser determined the true market value of the diamonds [store owner Vihad] Moradi had advised [Brees] to buy was approximately $9 million less than the prices [he] paid,” according to the court papers.
How Compliance Became The ‘Fifth C’ In Diamonds
24 april 2018
(gemkonnect.com) - The diamond industry has for decades, done business with a truly international pipeline — diamonds are mined in some continents, sorted and distributed through centres elsewhere, cut and polished in yet other places, set into jewellery in centres that could be in a fourth geographic location and finally consumed in bulk in places like the US, Japan and China — the first two having had nothing to do with the process pipeline whatsoever. Less than 20 years ago, a diamantaire could easily have bought diamonds from a supplier in one location, have them shipped to another location and perhaps a company that was distinct from his own firm, which was doing the ordering and paying. There were many variations to this.
In Depth with Eira Thomas, New CEO of Lucara Diamond Corp.
23 april 2018
(thediamondloupe.com) - Eira Thomas was recently appointed as the new CEO of Lucara Diamond Corp., replacing William Lamb, who oversaw the successful creation of the world-class Karowe mine in Botswana. Thomas brings more than 25 years’ experience in the mining industry to Lucara, including 16 years with Aber Diamond Corporation (now Dominion Diamond), where she played an integral role as a geologist at its initial discovery and ultimately became Director of the Board. She was co-founder of Stornoway Diamond Corp., serving as CEO and then as Executive Chairman, leading the acquisition of the Renard diamond deposit. In 2007, she founded Lucara with Lukas Lundin and Catherine McLeod Seltzer. Eira Thomas most recently served as CEO of Kaminak Gold Corporation, which was acquired by Goldcorp in 2016 for $520 million. She is also a director of Suncor Energy. We caught up with her in Antwerp to talk about her new role as CEO of Lucara, and about Lucara’s acquisition of Clara Diamond Solutions, a digital sales platform for rough stones that promises to transform the way rough diamonds are transacted.
Trade war worries diamond industry
20 april 2018
(economictimes.indiatimes.com) - Escalation in the US-China trade war is emerging as a major concern for India’s diamond trade. The US, a major buyer of gems and jewellery from India and China, levies a 6 per cent duty on imports. While this has not been altered, the Trump administration’s decision to increase the tax on commodities like steel and aluminum has made global markets nervous. If Donald Trump decides to increase the duty on items such as gems and jewellery to check shipments from China, it will hurt India as well.
Paying the Price of Not Taking Control
19 april 2018
(ehudlaniado.com) - In the wake of the alleged scam by Nirav Modi and his uncle Mehul Choksi, a series of steps are being implemented in India, and none assume that the diamond industry is acting with integrity, transparency or reliability. Of course, most diamond trading companies in India and around the world adopt high-standard business practices, but all it takes is a few to act otherwise, and that there be a constant stream of these “few” for everybody to pay the price.
