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In some sense, it was a historic week for the diamond industry, as Rio Tinto announced the closure of the Diavik mine in Canada. The significance of the announcement is threefold. First, it marks the end of a consistent source of supply. The mine was launched in 2003 and yielded around 153.8 million carats over […]
The diamond mining sector has come under pressure, not only as market conditions have weakened but as investors have grown more cautious about its prospects. It has become increasingly difficult for diamond mining companies to secure financing, with implications for the entire pipeline, as one member of The Diamond Press community wrote in an email. […]
Kering’s jewelry and watch category saw “outstanding” growth in the first quarter, despite a difficult geopolitical environment. Revenue from the group’s recently formed Kering Jewelry division, which also includes watches, grew 14% year on year on a reported basis, coming to a record EUR 269 million ($317 million) for the three months that ended March […]
The contrast between the performance of the retail jewelry sector and diamond mining revealed in the recent round of earnings is striking. At retail, Watches of Switzerland said its Roberto Coin business delivered an excellent US holiday season. Swatch Group noted that Harry Winston had a record month in December, while Birks Group reported comparable-store […]
Belgian diamond companies Diarough and Pluczenik have joined former De Beers CEO Gareth Penny’s bid for the miner as the deadline nears for making an offer, Rapaport News has learned. The two Antwerp-based manufacturing and trading businesses would provide a financial investment in return for a stake in De Beers, sources with knowledge of the matter told Rapaport […]
Angola’s declaration of its 2025 diamond production and exports highlights just how much the rough market has changed. Today, five groups shape the diamond market: De Beers, Alrosa, Angola, Okavango Diamond Company and the tender houses. That marks a clear shift from its historic structure. De Beers (in)famously controlled supply for about a century, largely […]
Alrosa CEO Pavel Marinychev met with members of the Smolensk regional leadership to discuss expanding the country’s diamond-cutting industry, as well as launching a training program. The meeting with Smolensk region Governor Vasily Anokhin and Deputy Chairman of the region government Pyotr Ilyukhun took place at natural-diamond cutting factory Kristall, which belongs to the Alrosa […]
News in Brief: The Rapaport View: The market had been anticipating a De Beers write-down since Anglo flagged two weeks ago that it was considering this. However, the scale is at the higher end of expectations. Anglo gave two main reasons for the decision: A “prolonged shifting of customer preference between natural diamonds and lab-grown diamonds” as […]
Guidelines require producers to offer reasonable prices and assortments. South Africa’s diamond regulator has introduced new guidelines requiring rough producers to offer their goods to local buyers on more attractive terms. Miners in the country already have to make 10% of their run-of-mine rough available for the State Diamond Trader (SDT) to purchase. After that, […]
Experts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond. Mumbai – We are just two months into 2026, and it has been a roller coaster ride already. The unpredictability unleashed by continuing political and economic turbulence globally has reached new heights. This uncertainty could not […]
Mayank Jain, CEO of DiaDNA, was interviewed by Joshua Freedman for the Rapaport Diamond Podcast about the new traceability technology his company has brought to market. This major innovation, addressing a key concern for the industry, could significantly enhance transparency regarding the origin of diamonds. Analyzing the Diamond’s Atomic Structure DiaDNA has developed a fully […]
During a Diamond Debates session hosted on his Diamond Press platform, Avi Krawitz invited Feriel Zerouki to address the following question: “Is the diamond industry over-regulated?” In response, Zerouki—former De Beers executive and current President of the World Diamond Council (WDC)—offered a nuanced perspective, pointing to a disordered accumulation of rules, frameworks and requirements that […]