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
Interview With Andrey Polyakov, the New President of the World Diamond Council
29 june 2016
(jckonline.com) - At this year’s JCK show in Las Vegas, Andrey Polyakov, the vice president of Russian diamond producer Alrosa who recently took over the World Diamond Council (WDC), spoke with JCK about his plans for the WDC, which represents the industry in front of the Kimberley Process. Here, he speaks about whether the KP will ever include human rights language and just what Alrosa thinks about synthetics.
Israeli Diamond Dealers Sue GIA And Rappaport For $180 Million
28 june 2016
(jewishbusinessnews.com) - Lawsuit of $180 million has been submitted earlier this month by Israeli diamond dealers, the Yelazarov family, against the Gemological Institute of America (GIA) and Rappaport. The suit was submitted to the Supreme Court of New York by the law firms of Miller- Leiby from New York and Adv. Amir Altshuler from Israel. Yelazarov family of diamantiers claim that in May 2015 the GIA and Rappaport published a report that hundreds of diamonds, attributed to the family’s companies, were suspected as having been temporarily treated in a special way which supposedly raised their color grade at the stage of lab examination and then “disappeared” after a short period of time. In such a manner the affected diamonds allegedly received gradings that did not reflect. Legal counsel for the family, Amir Altshuler, said, “The lawsuit pertains to the GIA monopoly which controls the worldwide diamond grading market; there may be fundamental injustices in a number of areas, including the possibility of fraud or abuse of monopolistic power.”
"The interest of investors is obvious" - Who wants to buy shares in Russia’s ALROSA
27 june 2016
(forbes.ru) - Andrey Zharkov, the president of the diamond mining company, told Forbes on the sidelines of the St. Petersburg International Economic Forum what investors, other than Viktor Vekselberg, are going to participate in the privatization of 10.9% of its shares. According to a report by Interfax, the privatization of the state-owned shares in ALROSA may take place this summer. Earlier, Alexei Ulyukayev, Minister of Economic Development told the Russia 24 TV Channel that the company’s equities are planned to be sold on the Moscow Exchange for at least 60 billion rubles. President of ALROSA Andrey Zharkov discribed how the preparation for one of the largest privatization deals of the year was going on.
Low Consumer Demand and High Rough Supply
24 june 2016
(ehudlaniado.com) - Historically, late May has seen a rise in demand for polished diamonds across the manufacturing and wholesale sectors of the diamond pipeline, which has then been accompanied by an increase in prices. However, this historical cyclical trend did not take place this year. The cause of this cyclical trend is the JCK trade fair held in Las Vegas during late May/early June. It is one of the largest diamond and jewelry shows and the most important one for the US market. Ahead of the show, traders usually round up goods which drives both demand and prices. So why did demand and prices not increase this year?
Bain: China’s Luxury Market Reverses Decline with 2% Growth
23 june 2016
(jingdaily.com) - After two years of negative growth, China’s luxury market is finally expected to return to an upswing as brands and the government work to keep more spending in the country, according to a new report by Bain & Company. In the consulting firm’s “Spring Luxury Update” released last month, the firm says China’s luxury market is up 2 percent at current exchange rates and 4 percent at constant exchange rates. This reverses a declining trend for the market that began in 2014, when Bain reported a negative 1 percent growth rate for the year, down from an already low 2.5 percent in 2013. This was followed by an even lower negative 2 percent in 2015 as Chinese luxury shoppers continued to do more of their spending abroad in the face of significantly higher mainland prices.
