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
Looking forward to a better future
22 june 2016
Polished trading in the Indian diamond market during the month of May was sufficiently brisk, while rough trading was just normal paced. Production in the cutting centres was in full swing throughout the month, despite it being summer holiday time. Most factories and SMEs remained in operation throughout the month, due to good demand presumably. Overseas demand was good, especially from the US and Middle East including demand from the Indian domestic market. The Indian diamond industry is slowly recovering from the past rather dismal export performance, thanks to the economic revival in consuming countries.
Vegas Shows Reveal Stable, Fast-Changing Market
21 june 2016
(diamonds.net) - As a bellwether for the U.S. jewelry market and global diamond industry, this year’s Las Vegas shows met the trade’s conservative expectations. While foot traffic and diamond trading were slightly slower than previous years, jewelry sales were resilient. The good news is the U.S. continues to support the global industry. In fact, it’s just about the only growth market at the moment. Less encouraging were the numerous factors that weighed on sentiment. Conversations with diamond dealers and jewelers revealed concern about lagging demand for diamond jewelry, the rise of synthetics and the challenge of how to effectively market to millennials. Traders also recognized the impact a contentious U.S. presidential election might have on consumer confidence and economic stability.
Why the Diamond Producers Association Chose “Real Is Rare”
20 june 2016
(jckonline.com) - It is easy to think that the Diamond Producers Association (DPA) is trying to counter lab-grown diamonds with its new slogan: “Real is rare. Real is a diamond.” The words real and rare are two clubs the natural industry tends to beat the lab-grown business with—even if both are somewhat debatable in that context. In a recent interview, DPA CEO Jean-Marc Lieberherr told Rob Bates of JCK he understands that reaction, but synthetic diamonds were never part of its thinking.
Swarovski enters Synthetic Diamond Market
17 june 2016
(namibian.com.na) - Several weeks ago, the huge transnational jewellery retailer Swarovski announced that it was going into synthetic diamonds. For a company whose basic commercial credo is ‘affordable luxury’ and which manufactures pretty crystals and already sells cheap bling like zirconium, the entry into the synthetic diamond market should not be a surprise. The difference between cheap imitation diamonds like zirconium, which every thug wears in his ear, and synthetics is that any jeweller can tell by looking at the difference between zirconium and a diamond. Synthetics are often better quality than mined diamonds, and it is impossible to differentiate between the two without expensive equipment, which is also supplied by De Beers. In the past, the great worry for Namibia and Botswana was that synthetic diamonds were previously a threat from their illegal entry into the mined diamond market. This was done by some jewellers, who would sell customers synthetics disguised as mined diamonds. However, the bigger threat is not Swarovski entering the synthetic market, but where Swarovski is and where it is getting its synthetics from. After initial negotiations with De Beers failed, Swarovski decided to source synthetics from China.
Why Blue Nile Is No Longer Shipping to South Dakota
16 june 2016
(jckonline.com) - Last month, Blue Nile announced that it would temporarily no longer ship to South Dakota, in response to a new state law that says remote sellers must collect sales tax from local residents, even if - and this where the law differs from the similar state laws out there - they have no physical presence in the state (known as nexus). The rule applies only to companies that sell more than $100,000 or process more than 200 in-state transactions a year. The South Dakota bill is the latest turn in a seemingly endless debate that began in 1992, when the U.S. Supreme Court ruled in Quill v. North Dakota that states do not have the right to collect sales tax from remote sellers if they do not have an in-state presence. But it also left the door open for Congress to supersede the decision. In recent years, members of both parties - as well as President Obama - have expressed support for legislation that would let states collect sales tax from remote sellers.
