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
Diamond Industry’s Famous Hungry Crocodile Doesn't Cut It
21 april 2017
(bloomberg.com) - The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and promoted by big miners like BHP Billiton Ltd., Rio Tinto Group and De Beers, never materialized, it oversimplifies the fact that the industry’s 15,000 different categories of diamonds are performing in very different ways. That divergent trend has accelerated in the past year. Recently, a mine producing lower quality stones was shut due to a dip in prices, while top producer De Beers has been forced to offer unprecedented concessions to its customers. Both events show the chart is less relevant today than ever before.
5 Reasons Why Diamond Mining Stocks Have Been Under Pressure
20 april 2017
(paulzimnisky.com) - From February 15th to March 13th, a market-cap weighted aggregation of diamond miners in U.S. dollars including ALROSA Joint-Stock Company (RTS: ALRS), Petra Diamonds Ltd (LSE: PDL), Dominion Diamond Corp (TSX, NYSE: DDC), Gem Diamonds Ltd (LSE: GEMD), Lucara Diamond Corp (TSX: LUC), Stornoway Diamond Corp (TSX: SWY), Firestone Diamonds Plc (LSE: FDI), and Mountain Province Diamonds Inc (TSX, NASDAQ: MPVD), was down 14.3%. During the same time period, the S&P 500 (the U.S. broad market proxy) was up 1.1% and notably made an all-time high on March 1st. The FTSE 100 (the European broad market proxy) was up 1.0% and also made an all-time high on March 1st. On February 24th Stornoway hit a 52-week low of C$0.81, through March 2nd Dominion shares were down 10 days in a row, and on March 8th Mountain Province made a 52-week low of C$4.51. From February 15th to March 13th, $1.8B was erased from ALROSA’s market cap, a 14.1% decline. The recovery of the diamond industry last year following the 2015 indigestion, a strong post-election U.S. economy, and a more stable Chinese economy, are all fundamentals supportive of diamond miners, but the stocks have recently displayed weakness. Here are some thoughts as to why.
Why Poor Digital Experiences Drag Retail Customer Service Down
19 april 2017
(gemkonnect.com) - Creating an in-store environment that wows customers is not a sprint, but a marathon. It takes time, effort and persistence to ensure that when a customer walks through the door they feel valued, inspired and, crucially, happy to part with their hard-earned money. Perhaps you have invested significant funds into quality staff training? Or dedicated hours to training each staff member personally on the experiential values of your business? All jewellery retailers agree that repeat custom is reliant upon quality customer service and reputation. However, many retailers forget these same principles apply to their websites and digital platforms. The value of a fantastic in-store experience can be swiftly lost with poor quality design, lacklustre images and complicated navigation online. Just as a talented sales associate would guide a customer round a store, a website needs to do the same.
2016 Diamond Pipeline – Survival In The Absence Of Growth
18 april 2017
(idexonline.com) - “Survival in the Absence of Growth” was the subject of a panel discussion at the recent Mumbai “Mines to Market Conference.” It certainly summarized succinctly the diamond industry’s 2016 performance. The full 2016 Pipeline article is published in Diamond Intelligence Briefs. For five years in a row, the industry’s global polished diamond sales, measured in Polished Wholesale Prices (PWP), have followed a downward trend. Commencing in 2011, when sales peaked at $22.6 billion, this figure gradually declined to $18.7 billion in 2016 – registering a 17% accumulative decline. Last year, the decline was merely 3% over the $19.2 billion of 2015. Our economic models predict that in 2017, global polished sales will remain steady, while the industry’s rough replenishment will continue, comfortably absorbing the higher rough supplies already announced by the main producers.
The Case for Transparency – Inventories and Banks
17 april 2017
(ehudlaniado.com) - Exactly three years ago, De Beers was in the midst of reviewing applications for the next Sightholder contact period. One item in particular that it required from applicants was compliance with International Financial Reporting Standards (IFRS). IFRS is a common accounting format that includes, among others, a standard stating how particular types of transactions and other events should be reported in financial statements, including the value of inventories. From the standpoint of the diamond industry, this means diamonds – rough and polished. Compliance with IFRS would determine how the value of diamond stocks is reported. Most diamond firms report their financials according to other accounting standards. Those whose reports do not comply with these other standards (and I must stress here that they are all legal, relevant reporting standards that were selected by the relevant country authorities and qualified company accountants) include an auditors’ comment, stating that they cannot attest to the value of the diamond stocks and are relying on company statements and expertise. Again, these are perfectly normal accounting systems that mean that companies have some leeway in terms of the value of their inventory – be it shoes, art, or any one of many other products. Under IFRS, such a comment cannot be made. If the accountants cannot determine the value of an inventory, instead of asking the company to valuate it, an independent third party will be required to do this. The banks demanded that the industry move to IFRS, and in my opinion, justly so.
