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.
16 october 2026
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.
16 october 2026
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.
16 october 2026
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.
16 october 2026
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...
16 october 2026
Beneficiation in the Diamond Industry: Canada
24 october 2017
(ehudlaniado.com) - In a massive and resource-rich country like Canada, diamonds are a relatively small component of overall natural resource exports. Canada is a major exporter of gold, nickel, uranium, forestry products, and perhaps surprisingly, possesses the world’s second largest reserves of oil in the western part of the country. In 2015, Canada exported $231 billion in natural resources. Diamond exports were $2.4 billion, just one percent of resource exports. However, diamonds have been located in some of the most northern and often inhospitable locations in this vast country. So while the impact of diamonds on the economy as a whole has been relatively small, they have been critical to the sustainable development of many northern settlements. These small towns and villages suffer from harsh weather and a lack of employment opportunities, so diamonds have been instrumental in their success in the last 15 years.
Diwali Lessons
23 october 2017
(ehudlaniado.com) - The diamond industry has quieted down this week, as the Indian center went on its Diwali holiday vacation. Diwali, one of the most popular Hindu holidays, celebrates the victory of light over darkness, good over evil, knowledge over ignorance, and hope over despair. It is an important holiday, and businesses close for at least five days. These closures are significant for the diamond industry. In the weeks prior to the holiday, factories start to wind down. Managers from the Mumbai headquarters head out to the factories in Surat to supervise the closing process. The level of rough diamond purchases drops sharply, as seen in the most recent cycle, when De Beers announced that rough diamond sales fell 27% to $370 million from the $507 million worth of rough diamond sold just five weeks earlier. This is part of the diamond industry’s annual cycle (last year De Beers’ sales fell 23% during the same period).
More Luxury Stores Closed in China Over the Last Year Than in Any Other Country
23 october 2017
(jingdaily.com) - Amid a wave of store closings in the luxury industry around the world, China has recorded the most number of closures between July 2016 and July 2017, the latest report by the investment research and management company Bernstein shows. The report, titled “Store Wars,” based its findings on Bernstein’s tracking of about 7,000 stores referring to 36 luxury brands including big names such as Burberry, Saint Laurent, and Céline. Burberry and Dunhill had the most store closures in China of all the brands during that period. China has seen 62 net closures of luxury brand stores during the surveyed period, the largest number observed by Bernstein among all significant geographies. The firm viewed the trend as a revision of the over-expansion, in previous years, of luxury brands into the Chinese market.
Beneficiation in the Diamond Industry: Russia
20 october 2017
(ehudlaniado.com) - In early September of this year, Sergey Ivanov, President of ALROSA, said that diamond manufacturers in Russia would not be able to survive without government subsidies. The abolition of a 6.5% export tariff in September 2016 is a major contributing factor, he said, but so too are declining polished prices and increasing rough prices, which have driven much of the midstream to the brink. Diamond beneficiation in Russia has a history almost as long as mining itself, and some regions of the country are entirely dependent on diamond polishing for their economy. The state-controlled Russian diamond mines operate differently than they do in any other country, and the government is highly interventionist compared to most other jurisdictions. Despite some of these inherent advantages, the Russian cutting and polishing industry still faces many of the same challenges as the rest of the industry.
VAT imperils Dubai’s diamond trade, DDE chairman warns
19 october 2017
(gulfnews.com) - Dubai: VAT on loose diamonds will imperil the diamond trade Dubai has spent 15 years building, Peter Meeus, Chairman of Dubai Diamond Exchange (DDE) said on Monday. Speaking at the opening day of the Dubai Diamond Conference, at Dubai Multi-Commodities Centre’s (DMCC) Almas Tower, Meeus launched a stark warning about the state of the diamond trade worldwide: “Winter is coming.” Meeus said that later this week DMCC representatives would meet with federal officials to try to convince them for giving loose diamonds a zero-per-cent tariff in the UAE VAT, to become active on Jan. 1, 2018. “That would allow the UAE diamond trade to grow further in the search of excellence,” he said. “The same zero-per-cent tariff is currently the standard in all other diamond centres across the world. “I’m not really happy to mention this problem in public, in our own conference and in the presence of so many international visitors, but at the same time it has to be said loud and clear: if this challenge is not solved, all that we have done in the last 15 years will have been for nothing.”
