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The outgoing year was clearly a particularly challenging one. It required diamond industry companies to reconsider their future and created an opportunity to pivot towards reinventing diamonds as a true luxury item. The coming year should be the year of realignment. in 2024, the diamond industry, from producing countries to retailers, was rattled in 2024. […]
De Beers has stripped around 10 sightholders of their rough-diamond allocations for 2025 and is planning to offer fewer goods overall, market insiders told Rapaport News on Sunday. Those companies will retain their sightholder status, but the miner will not give them a consistent allotment of supply because they did not buy enough in 2024, the sources […]
Botswana’s outgoing President Mokgweetsi Masisi made quite an impression when he was introduced to the diamond industry at the 2019 JCK Las Vegas show. Just one year in office, the well-spoken leader proved to be an eloquent and powerful advocate for natural diamonds. He told the American audience about the impact their industry has on […]
Speaking at the conclusion of the 2024 Kimberley Process (KP) Plenary, World Diamond Council (WDC) President Feriel Zerouki commended significant advancements in the KP’s modernization efforts. Driven by the WDC’s commitment to improving transparency and traceability in the diamond trade, at this year’s Plenary session the UAE showcased its pilot for QR-coded secure digital certificates. […]
At the JCK Show, I was with a group of people who work with lab-grown who were upset that a certain lab was supposedly lax in its lab-grown grading. “It doesn’t matter,” one said. “It’s only lab-grown.” I’ve complained in the past that some people in the lab-grown world sometimes devalue their product, and that’s […]
Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities. Mumbai, India—The Indian diamond industry enters the fourth quarter having been on a roller coaster ride for much of the last two years. There have been multiple twists and turns, and ups and […]
Geopolitical and economic forces are disrupting the industry, but there’s opportunity to be had in the decline of retailers’ synthetic margins, diamond-jewelry resale and a $72 trillion inheritance boom. The diamond markets are in crisis as we enter a period of great transformation. While it is important to remain optimistic, we must also be realistic […]
The drop in diamond recoveries is a response to market conditions, but also a reflection of diminishing prospects for viable new mines. Diamond miners are postponing sales and reviewing their production plans amid the weak market environment. “We have taken the proactive decision to defer the upcoming August-September tender from our South African operations, to […]
Panelists at RapNet event highlight provenance challenges. One of the ongoing questions in the diamond industry is whether shoppers care about the source of the stones they buy. For Olivia Landau, CEO of online natural-diamond retailer The Clear Cut, the problem is more fundamental. “Everyone just assumes that natural diamonds come from one place, and […]
Tourism could be central to the country’s post-mining plans, says Debswana executive. What connects Prince Harry and Kim Kardashian? Probably quite a lot of things, but among them is that they have both been to Botswana. Harry famously vacationed with Meghan Markle in the southern African country, while Kardashian has visited the Jwaneng diamond mine. The […]
How can we prepare for the G7 sanctions against Russian diamonds and stay one step ahead when it comes to diamond traceability? This was the question posed to leading diamond industry players during a webinar organized by renowned traceability specialist iTraceiT on May 10. Expert Avi Krawitz, who moderated the meeting, asked everyone to talk […]
Confirming recent reports, Anglo American said today that De Beers will be “divested or demerged” from its portfolio. In an online investor presentation, Anglo CEO Duncan Wanblad said he expected the sale of De Beers—as well as a number of Anglo American’s other holdings, including its platinum unit—will be completed by the end of 2025. Spinning […]
