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
DRC: 3% of Artisanal Diamond Diggers Are Women
15 march 2018
(edahngolan.com) - Diamonds and gold are mined in some of the most remote areas of the world, some of which are completely off the radar. Few places are as remote as where alluvial mining is taking place in the Democratic Republic of Congo’s (DRC) northeast where women and men, some of who are extremely young, dig for these rare resources for very modest wages. Tracking retail sales in the US is a “walk in the park” compared to tracking artisanal mining deep in the hot and humid rainforest covered northeast of the DRC. A recent survey of artisanal mining in the Maniema, South Kivu and Orientale provinces of the DRC was a difficult yet rewarding challenge that the Diamond Development Initiative (DDI) took on, and the results are important.
Low Hong Kong Turnout Dampens Optimism
14 march 2018
(diamonds.net) - The March Hong Kong show closed on Monday with dealers disappointed in the number of buyers that attended, even as they remain satisfied with the recent improvement in Far East demand. “Sentiment is positive, and buyers adapted to higher price levels that emerged in the past few months,” said one Israel-based diamantaire who requested anonymity. Many noted that trading before the show was better than during the event as wholesalers and retailers needed stock for the Chinese New Year, which started on February 16. Diamond exhibitors therefore came to the show with high expectations after recording good sales from November through February. Polished diamond prices firmed, with the RapNet Diamond Index (RAPI™) for 1-carat diamonds rising 2.9% in the first two months of 2018. However, participants’ hopes diminished following low buyer turnout from mainland China. Chinese clients were still on vacation as the show was too close to the New Year Lunar festival, dealers noted.
Demand is Shrinking for a Reason
14 march 2018
(ehudlaniado.com) - Polished diamond imports into the US have declined once again. In 2017, the US imported $21.7 billion worth of loose polished diamonds, a 3% decline compared to imports in 2016. The sad part is that this marks the third consecutive year of declines in the import of polished diamonds. In 2014, imports stood at $24 billion. In 2015, they fell 4.6% to $22.9 billion, and in 2016, they declined yet again, this time by 2.5% to $22.3 billion. Cumulatively, imports declined by 10% during the four-year period. The volume of imports has declined as well, falling from 11.8 million carats imported in 2014 to 9.9 million carats in 2017, a 20% decline. I am not entirely surprised by these continued declines. We saw hints of this in the form of price declines. Look at the price indexes in the graph below. All three of them, by Rapaport, IDEX, and our own Mercury Diamond, exhibit and share very similar broad trends. All three reflect the ongoing price declines that started in mid-2014.
Global Diamond Supply Expected to Decrease 3.4% to 147M Carats in 2018
13 march 2018
(paulzimnisky.com) - Coming off of 2017, a year in which global diamond supply by volume increased by 11.7% year-over-year, supply is forecast to contract by 3.4% to 147M carats in 2018 (see appendix at bottom for itemized analysis by mine). Out of the world's top three diamond miners by volume, only De Beers is expected to increase production this year, while diamond output at Russia's ALROSA (MICEX: ALRS) and diversified-major Rio Tinto (LSE: RIO) is estimated to decline, more than offsetting De Beers' increase. Combined, the three companies represent approximately 70% of global diamond supply by volume.
Chinese and Indian Consumers Want Different Things From Luxury
12 march 2018
(jingdaily.com) - “The world is changing, the economy is changing, the geography of luxury is changing,” said François Le Troquer in 2012, back when he was managing director of Cartier UK. The comment came at the official launch of a Cartier short film in which the Cartier panther travels across China and India, big developing economies whose luxury markets have since evolved in different directions. India and China opened their doors to foreign retail in the late 20th century and both countries slapped a high import duty and tax on luxury goods, making the products much costlier to buy domestically. While in the last three decades, Chinese luxury sales have risen to occupy the number one spot worldwide at 32 percent, India lags behind, one of the last big frontiers with vastly untapped potential for luxury consumption. Currently just seven percent of the Chinese luxury market, the Indian luxury market is growing at a Compound Annual Growth Rate (CAGR) of 25 percent. The country has added around 500 new ultra high-net-worth individuals (those with investable assets of at least $30 million excluding personal assets and personal property) annually over the past decade, and over the next decade that number will double to approximately 1,000 per year. Undoubtedly both countries’ luxury markets and broader economies are at different stages, contributing to different perceptions and attitudes towards luxury. Here are four key differences.
