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
Retail bankruptcies march toward post-recession high
04 april 2017
(cnbc.com) - The number of retailers filing for Chapter 11 bankruptcy protection is headed toward its highest annual tally since the Great Recession. Nine retailers have filed in just the first three months of 2017, according to data provided exclusively to CNBC from AlixPartners consulting firm. That equals the number for all of 2016. It also puts the industry on pace for the highest number of such filings since 2009, when 18 retailers resorted to that action. The rising number of retail bankruptcies comes as consumers are making more purchases online, and shifting their spending toward travel and other experiences. Meanwhile, the supply of physical stores continues to outweigh shopper demand, putting pressure on the industry's profits.
Forming the future
04 april 2017
(debeersgroup.com) - The very nature of innovation is that it involves a step into the unknown. When De Beers Auction Sales first pioneered online rough diamond auctions, we didn’t know whether they would prove to be popular in the long term. In fact, there were many who suggested that the nature of the industry meant auction sales wouldn’t work for rough diamonds. Nearly a decade on and the rough sales landscape has significantly changed with nearly all producers using auctions as a channel to sell their rough diamonds. But with every success, there comes new learning. We don’t always get everything right first time and that’s why it’s so important for us to keep testing our assumptions when launching new initiatives, rapidly accumulating and applying what we learn to try and deliver the most compelling offering to customers over time. Our recently-launched fixed price forward contract programme is a great example of this.
De Beers Cuts Sightholder Allocations
03 april 2017
(diamonds.net) - De Beers has reduced the supply of rough diamonds it will be offering sightholders in the coming year, as it fulfills its commitment to support diamond manufacturing in Namibia. The company signed an agreement with the Namibian government last year, committing to allocate 15% of its Namibia production to state-owned company Namdia, which will conduct independent sales on behalf of the government. The move was part of the country’s beneficiation efforts to diversify its diamond industry. In that vein, De Beers also agreed to increase the amount of goods it provides its Namibia-based sightholders. De Beers supplies rough on a contract basis, whereby its sightholders make what is known as an intention to offer (ITO) – an indication of how much rough they will require for the coming year. The company has about 80 core clients at its international sights, which take place 10 times a year in Botswana. As part of its beneficiation program, it also supplies rough in separate sights to 11 local sightholders in Namibia, 20 in Botswana and seven in South Africa. With the new ITO period starting in April, sightholders are bracing for lower supply given De Beers’ new commitments to Namibia and a similar arrangement already in place in Botswana, where the government takes 15% of local production to sell via Okavango Diamond Company. De Beers allocates an additional 10% of its production to its auction business before distributing the remainder through the sight system.
Diamonds, The Kimberley Process And Bullshit From The Stage
31 march 2017
(gemkonnect.com) - I was horrified when Martin Rapaport called the KP “bullshit” while taking questions on his presentation at the diamond industry Mines to Market conference organised by the Gem & Jewellery Export Promotion Council (GJEPC) in Mumbai over March 19 and 20. If the diamond industry stands mutely by while someone says the rough production data generated by the KP is worthless, it is telling the world that one of the pillars on which it rests its consumer assurance process is itself worthless. It is asking the world to rely only on mining company data. We all know what the global consumer thinks of that.
5 Lessons from the Hong Kong Show
31 march 2017
(diamonds.net) - The Hong Kong show was better than expected for the diamond trade, as Chinese jewelers were looking for goods after being absent from the market for some time. But while exhibitors were simply happy to be doing business again, conditions ultimately favored buyers. Suppliers took the opportunity to reduce stock and generate some cash flow, and they were therefore prepared to accept offers at slightly higher discounts in certain categories.
