Angola has announced that Russian shares in two of its major diamond mines have been sold to an Omani-backed fund as a result of international sanctions, a government official said. Russia’s diamond giant Alrosa was until now a joint owner of Angola’s Catcoa mine, the fourth-largest in the world, and Luele mine, in partnership with … Read more
De Beers says it will further reduce the number of sightholders, in a move designed to build partnerships that “create value”.
The diamond industry, once a symbol of timeless stability, finds itself in a state of flux as prices for natural diamonds hit multiyear lows, driven by a mix of evolving consumer preferences, geopolitical upheaval, and the meteoric rise of lab-grown diamonds (LGDs), a new study shows.
Lucapa Diamond has announced plans to restart production at its mothballed Merlin diamond mine in Australia’s Northern Territory.
Key players have taken “a very important step in the right direction” to raising $100m for the long-term promotion of natural diamonds, according to Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB).
Russia will continue to buy diamonds through a state fund in 2025 in order to support the diamond industry and market, Deputy Finance Minister Alexei Moiseev said on Thursday. The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems, Moiseev said in a statement. Sign Up for … Read more
Austrian jewelry brand Swarovski’s entry into the lab-grown diamond sector has seen a positive reception in the China market, signaling growing consumer acceptance and confidence in the product category, said a senior executive. Since the launch of Swarovski Created Diamonds Swarovski’s lab-grown diamond product line in April, the company has found that Chinese consumers are … Read more
Kim Kardashian has debuted an iconic piece of jewelry – the amethyst and diamond pendant famously worn by the late Princess Diana. She paid $197,000 at Sotheby’s London for the for the Attallah Cross in January. It belonged to the late prominent Palestinian-British businessman Naim Ibrahim Attallah, who bought it in the 1980s and often … Read more
The Kimberley Process voted to allow rough diamond exports from the Central African Republic (CAR) after imposing a ban in 2013 as a civil war raged. The Seleka, a coalition of predominantly Muslim rebel groups, toppled the government in a conflict, reportedly funded by conflict diamonds, that saw widespread killings, rapes, and destruction of villages. … Read more
Farmers and laborers rent small patches of land from the government and regularly recover gems worth potentially life-changing sums.