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
"The company needs fresh blood at all levels"
12 february 2018
(kommersant.ru) - Sergey Ivanov, Chief Executive Officer of ALROSA tells the Kommersant Daily about how the accident at the Mir mine will affect business and why the diamond mining company does not want to buy the Grib mine.
Digitalizing diamond
09 february 2018
The diamond industry is perhaps the most conservative of all. It was originated in the 16th century by the inhabitants of the Jewish Quarter of Antwerp, who passed their skill of precepting and processing diamonds from generation to generation. Fervidly treating their craft, inaccessible to outsiders, they used to complete one-time orders from monarchs and aristocracy. Up to now, very much in the industry is built on trust and special relations between several dozens of sightholders and diamond miners, who can easily be counted on the fingers of one hand. They have already been observing the established ritual of transactions for several decades. A sightholder, after a little preliminary inspection, pays for a set of boxes – plain paper envelopes containing a mix of diamonds; some part of the assortment approximately corresponds to the buyer's request, while the rest is completed by the seller in accordance with his preferences. The mystique of these relationships was ruthlessly violated with the advent of gem-quality synthetic diamonds to the market a few years ago. Synthetic diamonds are a complete analog of natural diamonds but synthesized in the lab and sold with an average discount of 30%. Manufacturers of synthetics in the West position it as a technological novelty using “eco” and “conflict-free” descriptors, which finds a response among the main group of jewelry consumers - American millennials. The industry faced two threats at once: legal and illegal substitution of natural diamonds with lab-made stones.
Millennials being lied to by synthetic diamond manufacturers
08 february 2018
(miningmx.com) - It appears the under-35 cohort are behind the demand for synthetic diamonds, drawn not only to the disruptive appeal of the tech-produced stones, but also buying into the image created by synthetic gem companies that their diamonds are free of labour and environmental exploitation. Cheaper to manufacture, laboratory-grown diamonds also fit the budgets of the under-35’s, retailing for between 30% and 40% less than the mined stones. Synthetic diamond manufacturers are increasingly capturing global market share thanks to an aggressive marketing push by the industry. Estimates put the current global market share of synthetic gems at 3%, the Mining Indaba heard on Tuesday. “Many laboratory-grown diamond companies describe their diamonds as being green or eco-friendly and use words such as ‘greenhouse’ or ‘foundry’ to try and influence opinion. They are also being told that [synthetic] diamonds are real diamonds without the human or environmental impact. This is misrepresentation. “They deceive the consumer, because a synthetic diamond is not worth much at retail value. Millennials are being fed lies, because the gap between reality and marketing is huge. Synthetic retailers are winning the marketing battle,” Arslanian Group MD, Sahag Arslanian, said during a panel discussion on diamonds.
Can the EU revive a troubled scheme against conflict diamonds?
07 february 2018
(devex.com) - The European Union began its year-long leadership of the global effort against conflict diamonds last month, pledging to focus on “effectiveness” and “dialogue.” But observers say the notionally tripartite Kimberley Process, or KP, risks becoming a “farce,” as expert NGOs leave in frustration after years of failed attempts at reform. The EU is one of 54 state-based actors in the process, first implemented in 2003 to check the provenance of diamonds through a certification scheme. Countries must only trade with other participating states that meet the agreement’s requirements on transparency, exchange of data, legislation, import and export controls, and shipment certification. Almost $14 billion worth of diamonds were traded through the Kimberley Process Certification Scheme in 2015. Participants now claim to prevent 99.8 percent of the worldwide trade in “conflict diamonds,” defined as “rough diamonds used by rebel movements to finance wars against legitimate governments.” However, Joanne Lebert, executive director of Impact, a nonprofit working on natural resources, told Devex that number is misleading, because “the definition is so narrow as to be obsolete.”
Cracking Chinese Puzzle the Challenge for Luxury Retailers
06 february 2018
(idexonline.com) - Russian mining giant ALROSA this week released details of research into diamond jewelry consumers in the US and China. The main conclusions? Consumers in both countries are interested in buying diamond jewelry, are planning to buy it in the future, and purchase jewelry for themselves much more often than as a gift to others. I was somewhat surprised to read that 86% of Chinese respondents, but only 59% of respondents in the USA, plan to buy at least one piece of diamond jewelry next year. Given that the USA is the world's largest consumer market of diamond jewelry, and despite taking into account that China is a fast growing market, one might have expected the figures to be the other way around. The research was conducted last Fall among a total of more than 4,000 men and women from the USA and China aged 25 to 55 years, with average or above average income, who bought or received diamond jewelry as a gift within the last 12 months people. Diamond jewelry buyers are not only loyal consumers thinking a diamond is a good acquisition for themselves, but they are also ready to share this opinion with their friends. According to the research, about 34% of respondents in China and 37% of those interviewed in the USA say that if their friends sought their advice on a present to a loved one, they would recommend diamond jewelry as a gift.
