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
The Case for Transaction Prices
14 april 2017
(ehudlaniado.com) - Today, transparency is the name of the game. The diamond industry is no different, and has the characteristics of many other industries such as know-how, manufacturing, trade, specialization areas. So why are trading prices not transparent? For years, the diamond industry sold a dream, a dream of beauty and everlasting love. This dream is a great marketing tool, and did the diamond industry wonders for many decades. It was designed in a post-war world where people wanted hope and life. Nobody thought that this marketing idea would last for so many decades. The idea served us well, but the world has changed, and although the premise of selling diamonds as a symbol of love continues to be ubiquitous, many consumers are starting to question it.
What made Rio Tinto Dump the Bunder diamond mines?
13 april 2017
(newindianexpress.com) - It was a strange exit for Rio Tinto. After years of developing the Bunder mines in Madhya Pradesh for commercial rough diamonds since 2004, the mining giant formally handed over the project to the state government on February 7. It had stopped mining operations last August. Why did Rio Tinto pull out so abruptly after 12 years of prospecting and mining operations?
Diamond Trade Banking on Relationships
12 april 2017
(diamonds.net) - The diamond industry and the banking sector are getting to know each other again, having recognized the gulf that’s developed between them. In that spirit, the diamond financing seminar that took place recently in Mumbai presented a much-needed opportunity to talk. “Unless the industry knows our problems and the lenders understand the industry’s challenges, we can’t move forward,” said Karnam Sekar, deputy managing director at the State Bank of India. The bankers still view diamonds as a high-risk sector. Representatives from the diamond trade, meanwhile, feel there has been significant progress in improving the industry’s level of compliance, transparency and so-called bankability. It appears that both are correct — there has been progress, but more needs to be done given the regulatory environment constraining the banks.
GEM targets cash flow in 2017 after suspending dividend
12 april 2017
(miningmx.com) - GEM Diamonds is to prioritise cash flow generation in the current financial year after a torrid time in 2016 in which it mothballed its Ghaghoo mine in Botswana which ultimately resulted in a suspension of the dividend. The company also reported lower value diamonds from Letseng, its diamond mine in Lesotho – a turn of events it attributed to “statistical short-term variability of the resource”. An average value of $1,695 per carat was achieved at Letseng during the period compared to $2,299/carat in the 2015 finanical year. This was owing to fewer diamonds recovered of 100 carats or more.
Security raids and abrupt exit of chief fail to derail Alrosa
11 april 2017
(ft.com) - The abrupt departure of its chief executive, the appointment of the son of one of Russian president Vladimir Putin’s closest aides to replace him and a raid this month by the security services. That would be enough to worry even the boldest investor. Yet the corporate success story of Alrosa does not look like it is fading. Only last month, the world’s biggest diamond producer by volume reported a fourfold increase in profits and a 41 per cent surge in year-on-year revenue. The strong results of the Russian state-run company have been helped by last year’s global recovery in diamond prices following a decline in 2015 as the group generated net cash flow to pay liabilities and dividends. The upbeat results show that a company based in Mirny in the remote far eastern region of Yakutia, which became Russia’s diamond capital after Soviet geologists discovered massive deposits there in 1949, can thrive in the modern market place. Of all the state-run monopolies left over from the Soviet Union, Alrosa is considered one of the successes.
