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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 […]
De Beers is pulling the plug on any Forevermark activities in the United States, as it transforms the loose diamond brand into a jewelry line focused on the Indian market. “From January 2026, Forevermark will [become] a jewelry brand,” said a letter to Forevermark partners signed by Sandrine Conseiller (pictured), who became CEO of De […]
What is the latest with the Surat Diamond Bourse? Rapaport Senior Analyst Joshua Freedman assesses the ongoing precarious situation at the brand-new bourse. Intended to eventually compete with the Mumbai Bourse, its Surat counterpart is struggling for both economic and structural reasons. India now has two diamond bourses, Mumbai and Surat. Established in 2010, the […]
Increasing interest rates and energy costs led consumers to reduce their expenses at jewelry shops. In March, sales of finished jewelry and loose diamonds were down 3%, and the average expenditure per unit decreased 3.5% year over year. Lab-grown diamonds – loose and finished jewelry – are facing significant challenges. The increase in the number […]
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
The diamond industry will remain under pressure as geopolitics and the rising popularity of lab-grown cause a fundamental restructuring of the market, cautioned Rapaport Group Chairman Martin Rapaport.
Last month, De Beers announced it would spend $20 million on a “Seize the Day” campaign touting natural diamonds.
“In its 10th Diamond Insight report, De Beers conducts an in-depth analysis of the Chinese market, the world’s second-largest diamond jewelry market after the United States.”