News
Namdeb seeks State recapitalisation as diamond prices erode revenue
Namdeb Holdings, comprising Namdeb and Debmarine Namibia, has approached the Namibian government for financial assistance as falling global diamond prices cut into revenue, The Namibian reports.
Today
Nornickel and Reksoft Implement "smart vision" to protect production
Nornickel has deployed a neural network-based video analytics system across its facilities, designed to prevent equipment breakdowns and production stoppages, the company’s press service reported.
Today
Lundin achieves record quarterly gold output at its flagship Ecuador mine
Vancouver-based Lundin Gold has reported that in the third quarter of 2026, gold production at its Fruta del Norte mine in southeast Ecuador hit a new quarterly record.
Today
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
June Diamond Market Report
18 july 2016
(ehudlaniado.com) - At Mercury Diamond©, we continuously monitor the diamond market as part of our ongoing effort to understand, analyze and perform within the diamond industry. Inter alia, we track transaction prices and changes in rough diamond prices, understand market trends and follow changes in demands for polished diamonds. Reviewing June, we see that the global diamond market is not picking up. Visitor traffic at the Las Vegas JCK show was down an estimated 30% compared to the previous year. The diamond centers feel that we are going into a period of low profitability/limited volume.
If “Real Is Rare” in the Diamond World, Responsibly Sourced is Rarer Still
15 july 2016
(globalwitness.org) - The recent launch by the Diamond Producers Association (DPA) of a new advertising slogan ‘Real is rare. Real is a diamond’ marks a fresh bid to win over a new generation of customers – the so-called millennial generation. But in pursuit of the perfect strapline the authors seem to have overlooked what was sitting right under their noses. The slogan is the result of research commissioned by the DPA, whose members are amongst the biggest in the diamond business, into this brave new world of millennials. According to the findings, for a generation living in an increasingly transient and virtual world, lasting and authentic connections are increasingly elusive and inversely desirable. A diamond, the slogan suggests, embodies these coveted qualities. But if millennials, the most socially conscious generation ever, want something really rare, they shouldn’t ask if a diamond is real, they should ask if it’s responsibly sourced.
New Lesotho diamond mine could be a gem
14 july 2016
(bdlive.co.za) - A new diamond mine will come into production in Lesotho before the end of 2016, with expectations it too may deliver exceptional gems like its neighbour Letseng, a source of large, gem-quality diamonds. Firestone Diamonds, traded on London’s Alternative Investment Market, will add 1-million carats of diamonds to the global market every year after starting production in October. The R2.1bn Liqhobong mine is high in the Maluti mountains, and has the potential to become a source of large, gem-quality diamonds, but not as prolific as its neighbour, Letseng. Firestone CEO Stuart Brown, the former chief financial officer at De Beers, estimated about 80% of the value realised from Liqhobong would come from 20% of the mine’s production. Test work showed the mine to be a source of fancy yellow diamonds, he said. Firestone expects to earn an average $130 per carat from its tenders planned for Antwerp in early 2017.
9 Psychological Reasons For Why People Buy Diamond Jewelry
13 july 2016
(info.rapnet.com) - Diamonds are beautiful and rare, but their practical uses are limited. Sure, you could argue that diamonds for the purpose of making industrial grade drill bits are useful, but those aren’t the kinds of diamonds found in a retail jewelry store. Since diamond jewelry in itself is not a functional gift, why then do people purchase diamond jewelry? According to the American Psychological Association, desires rule over needs when it comes to consumer purchases. Why a particular luxury item, such as a diamond bracelet, is purchased, is a combination of psychological, cultural, and economic factors. What this means for diamond retailers, is that sales are made when sellers understand the interplay of buyer motivation and emotion. Once the motivation for the purchase has been determined, the diamond retailer needs to then home in on the emotional aspects of that motivation. Motivations could be romantic between partners, a reward for an achievement like graduating or a promotion, or even to boost an individual’s personal happiness after a particularly difficult time. Because customers naturally attach emotions to luxury purchases, it is important for the retailer to understand what these emotions are in the most sensitive way and then guide the customer to the best possible purchase for their needs.
Luxury brands struggle to attract Internet generation
12 july 2016
(timesofindia.indiatimes.com) - Seducing hyper-connected "Millennials" poses an increasing challenge for luxury brands, which find their markets slowing as young, skeptical consumers force them to rethink strategies. Goldman Sachs estimates that 92 million Americans are in the Millennial generation -- born between the early 1980s and the 2000s -- surpassing the famed cohort of postwar Baby Boomers who are now approaching a geriatric phase. The huge pool of Millennial consumers grew up with the Internet, smartphones and a sharing economy in which owning things like cars is seen as almost unhip. A Deloitte study targeted Millennials as an opportunity for luxury brands, but warned that they require "a high level of investment" and are more "mercurial" consumers whose brand loyalty can quickly shift.
