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Against the backdrop of profound changes reshaping the global diamond market, the Antwerp World Diamond Centre (AWDC) has reaffirmed its confidence in experienced leadership while appointing a board of directors that combines fresh perspectives with extensive industry expertise. The Antwerp World Diamond Centre has reappointed Isidore Mörsel as President and Avi Bhansali as Vice President. […]
The Ekati mine in Canada will shut after owner Burgundy Diamond Mines goes into receivership upon failing to secure a buyer for the deposit. “The sales process conducted…did not result in any compliant bids, and the interim funding available to the Burgundy respondents is fully exhausted,” documents filed in the Supreme Court of British Columbia on Monday […]
The diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American. London—De Beers Group will be undergoing another round of cost-cutting that likely will result in layoffs at its corporate headquarters in London and a two-year pause on production at the Venetia mine in South Africa. According to a […]
(IDEX Online) – Only natural diamonds should be graded with the 4Cs, says CIBJO (the World Jewellery Confederation). And the word “synthetic” should be regarded as the preferred term to describe diamonds created through industrial processes. CIBJO, the body that represents the gem and jewelry industries globally from mine to marketplace, aims to reinforce the distinction […]
De Beers will likely be in the red for the first half of this year following a decline in rough-diamond sales in the second quarter, according to parent company Anglo American. Underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) at the diamond company “is expected to be negative” for the six-month period, the 85% […]
This article serves as the introductory analysis to the inaugural Diamond Executive Report, ‘The Value of De Beers.’ Access the full report here. To grasp the implications of Anglo American’s pending divestment from De Beers, it helps to understand the move in the context of its broader strategy. In May 2024, the mining group announced […]
Botswana is seeking support from the United Arab Emirates (UAE) and Oman to acquire a strategic stake in De Beers from Anglo American. Botswana President Duma Boko said the country was searching for an investment partner as Anglo American moved forward with the sale of its 85% stake in the diamond producer, news outlet Bloomberg reported last […]
Lab also rolling out new comments clarifying impact of fluorescence. The Gemological Institute of America (GIA) plans to introduce cut grades for marquise-, oval- and pear-shaped diamonds next year, marking a long-awaited development for the market. The diamond industry has been requesting the change for several years, since cut quality can vary greatly, and the GIA currently […]
The Russian government has announced new rules requiring lab growns to be labelled as “synthetic” so that consumers don’t mistake them for natural stones. It does not list “lab grown” or any variant with “lab” or “laboratory” as being acceptable terms. Only the qualifiers “synthetic” or “synth” can be used. In doing so, Russia goes […]
At the 2023 JCK Las Vegas show, De Beers introduced the fine jewelry industry to Tracr. Founded in 2018, the blockchain platform uses high-speed photography to create a digital twin of a rough diamond, enabling a new standard of traceability. The mining giant promoted the technology as the backbone of its consumer-facing Origin suite of services, […]
India’s Gem & Jewellery Export Promotion Council (GJEPC) has become the first industry body to join the Natural Diamond Council (NDC). It signals a strategic shift toward tighter global coordination in the natural diamond industry by the country that boasts a near-monopoly on cutting and polishing. GJEPC announced its intention to join the NDC in […]
The third episode of the monthly Diamond Dudes podcast, bringing together three leading industry experts—Avi Krawitz, Edahn Golan and Rob Bates—has just been released, offering an insightful analysis of JCK Las Vegas, the annual flagship event for the jewellery and gemstone industry. What are the key takeaways? In the podcast (link below), the three experts […]