Anglo American Tipped as Takeover Target
(IDEX Online) – Anglo American, parent company of loss-making De Beers, is being tipped as a takeover or merger target after its valuation dropped by over $30bn in under two years.
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The G7’s Long-Awaited Statement on Russian Diamonds Is Here
It provides a timeline for the implementation of new restrictions, but no details. Diamonds “mined, processed or produced” in Russia will be prohibited from entering G7 nations beginning Jan. 1, 2024. In March, tighter restrictions will go into effect.
Will De Beers Reduce Prices in January ?
De Beers has kept rough-diamond prices steady since July despite the market downturn. Rapaport News Editor Joshua Freedman asks whether the world’s largest diamond miner by value will change its strategy in the New Year.
Largest New Diamond Mine of the Decade Coming Online in Angola
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
CEO of Fred Jewelry Brand Moves to Chaumet Top Job
LVMH is making changes at the top at two of its jewelry brands, Fred and Chaumet.
Pantone’s 2024 Color of the Year Is Just Peachy
Pantone has unveiled its 2024 Color of the Year—Peach Fuzz (13-1023), which it called a “velvety gentle peach tone whose all-embracing spirit embraces the mind, body, and soul.”
Podcast: Selling the Botswana Story
Nicholas Moltke came on the Rapaport Diamond Podcast to explain why now is the right time to launch Botswanamark, the former De Beers executive’s single-source brand targeting US consumers.
Russian Ban May Also Target Lab-Grown Diamonds
The European Commission (EC) ban on Russian diamonds may target lab-grown stones in addition to mined gems, according to a report from Agence France-Presse, which said it’s seen an advance copy of the EC proposal.
2024 Market Outlook: A Volatile Year Ahead?
The American economy defied pundits’ predictions of a recession in 2023, but the outlook is considerably murkier for the new year. Some economists and market analysts believe a downturn in 2024 is likely.
Calmer waters on the horizon?
Dear Readers, Are diamond prices about to stabilize? The first signs of a soft landing should see the market return to calmer, more stable waters. The halt in diamond imports from India should help, as will market momentum in the run-up to the festive season as intermediaries clear their inventories. Reduced circulation of Russian diamonds […]
De Beers Will Start Telling “Origin Stories” About Its Diamonds
De Beers is testing a plan to sell diamonds with an “origin story” at 65 stores through the United States.
Belgium Ready to Restrict Russian Rough, Says Report
A new sanctions package proposed by the European Commission would prohibit Russia from importing rough and polished diamonds into Belgium and other EU countries after January 2024, according to a report in Reuters.
