News – Page 4

The Industry’s “False Sense of Security” – Why Laser Inscriptions Alone Are Not Enough

In the diamond trade, we often speak of a laser inscription as if it is an unbreakable bond between a diamond and its grading certificate. However, anyone with real-world experience whether on the manufacturing floor or in the secondary market knows the truth: inscriptions can be removed, altered, or forged.

Polish the girdle and the inscription disappears. Re-cut the stone and it’s gone entirely. Worse still, an inscription can be duplicated onto a different diamond to mimic an existing report number. This is not speculation; it has happened, and more often than many in the trade care to admit.

Another serious vulnerability occurs after grading. Once a diamond is set into jewellery, nothing prevents a switch from taking place during setting, repair, or even in transit. This risk is not confined to smaller stones high-value diamonds have been switched in exactly this way.

Verification presents its own challenges. Even if the diamond is the original stone graded by the laboratory, the inscription is frequently obscured by the jewellery setting. Accessing it often requires removing the stone a delicate procedure that carries risk to both the stone and the setting. Most grading laboratories, including DCLA, will not remove diamonds from their mountings, and many jewellers are reluctant to attempt it due to the potential for irreversible damage.

Digital records, blockchain entries, and grading reports track the details, but they do not track the actual physical stone. If the diamond is switched but the paperwork remains unchanged, the system still appears to validate it as authentic. This is precisely how sophisticated fraud can go undetected.

Until the industry bridges the gap between the physical diamond and its digital record, laser inscriptions will remain a weak link in the chain of security.

At DCLA, we believe the next step in true physical traceability lies in combining advanced identification technology with secure, tamper-proof verification processes ensuring that a diamond’s identity is as enduring as the stone itself.

South Africa Joins Luanda Accord to Promote Natural Diamonds

South Africa is to sign up to the milestone Luanda Accord, which is funding a global campaign to promote natural diamonds.

It joined the governments of Angola, Botswana, Namibia, Sierra Leone and the Democratic Republic of the Congo, in June in pledging to contribute 1 per cent of the value of their rough sales annually.

But the move was only approved South Africa’s cabinet last week. Minister in the Presidency Khumbudzo Ntshavheni and confirmed the decision on 7 August, committing 1 per cent of the annual revenues generated from rough diamond sales to a global marketing fund led by the Natural Diamond Council (NDC).

South Africa, the world’s sixth biggest diamond producing nation by value, saw sales down by 21 per cent last year amid the global slowdown.

The country’s mining minister mining minister Gwede Mantashe was listed as a signatory to the Luanda Accord in an official communique after the agreement.

But a conflicting Reuters report said South Africa did not actually sign at the time and has only done so now.

The Luanda Accord is seen as a potential turning point for the sector, aiming to rebuild consumer trust and interest in natural diamonds over lab growns, by emphasizing their origin, authenticity, and community impact.

It will highlight the positive economic and social contributions of the natural diamond industry to producing nations and their communities.

Governments of the African diamond producing nations have been joined by the Antwerp World Diamond Centre (AWDC), African Diamond Producers Association, India’s Gem and Jewellery Export Promotion Council (GJEPC) and the Dubai Multi Commodities Centre (DMCC).

Source: IDEX

Petra to Refinance as Sales Slide by a Third

Petra Diamonds has announced plans for a major refinancing program – together with a 33 per cent slide in revenue for FY2025.

The UK-based miner, which has recently sold off two of its four diamond mines, is facing substantial financial and operational challenges.

It is proposing an extension of senior secured bank debt and notes due early next year to 2029 and 2030 respectively, together with a $25m rights issue.

The moves are designed to preserve cash, extend debt repayment timelines, and ensure Petra can continue investing in its two remaining core mines – Cullinan and Finsch, both in South Africa.

Petra’s latest sales results, published on the same day (8 August) as its refinancing package, show some positive momentum in the market with like-for-like rough diamond prices from its latest tender, but revenue for Q4 was down 49 per cent year-on-year to $50m.

Revenue for FY2025 was $206m, down 33 per cent year-on-year from $309m and net debt increased to $264m.

“We would once again like to acknowledge the resilience shown by our employees in navigating a very difficult period for the company and the diamond sector as whole,” the company said in its Q4 and FY 2025 Operating Update.

Meanwhile, in its refinancing proposal Petra said: “Petra has, over the past 18 months, been focused on an internal restructuring that has resulted in a simpler and more streamlined business and operating model.

“This has included the sale of the Koffiefontein and Williamson mines, multiple labour restructuring initiatives and an optimisation and smoothing of the group’s capital development profiles.”

Source: IDEX

Tanishq Offers “First” In-Store Diamond Evaluation

*Tanishq Showroom in Iselin, New Jersey*

Indian jewelry retailer Tanishq is introducing in-store diamond evaluation some of its 500-plus outlets, as part of an ongoing partnership with de Beers.

Customers will be able to see proof that the diamond they’re buying is natural rather than lab grown, thanks to the De Beers SynthDetect machine, which works with loose and mounted stones.

They can also have diamonds tested with Lightscope, which measures light performance, and with other equipment for performance, inclusions, and laser markings.

Tanishq, part of the Titan group, says the launch of its Diamonds Expertise Centres is designed to give customers greater peace of mind by presenting complex gemological data as simple, visual insights. It says the centers are a “first of a kind initiative”.

The first three are in Bengaluru, but the company plans to expand them to 200 stores this year and eventually to all its outlets.

Ajoy Chawla, CEO at Tanishq, said: “Our aim is to set a new standard in natural diamond retail â€” one that goes beyond traditional display and transforms the buying journey into a transparent, educational, and truly immersive experience.”

Last August Tanishq and De Beers jointly announced that they’d be working together to promote natural diamonds in India, now the world’s second biggest diamond market.

The partnership leverages Tanishq’s retail presence and De Beers’ expertise and proprietary diamond verification technology.

Source: IDEX

Double Whammy: Trump Hikes India Tariff to 50%

US President Donald Trump today (6 August) doubled the tariff on all imports from India to 50 per cent, as a punishment for its oil purchases from Russia.

India’s diamond industry, already reeling from confirmation last week of a 25 per cent reciprocal tariff, is in shock that their goods will be subject to a second 25 per cent surcharge.

“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” Trump said in an executive order.

“Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent.”

The first 25 per cent tariff comes into force tomorrow (Thursday 7 August) and the new, punitive tariff is applicable three weeks from now, on 27 August.

The US is the single largest destination for Indian diamonds and gems, accounting for nearly $10bn or about 30 per cent of India’s annual gems and jewelry exports.

Industry leaders were already warning of the dire consequences of a 25 per cent tariff. Now they are facing an unprecedented body blow with the introduction of a 50 per cent double-tariff.

India’s Ministry of External Affairs said in a statement today that the tariffs were “unfair, unjustified and unreasonable”.

It defended its Russian oil purchases, saying they were “based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India”.

The US imposition of an extra tariff was, it said, “extremely unfortunate”.

Source: IDEX

Capacity Boost: Indian Company Buys 1,100 Lab Grown Machines

Greenlab, recognized as India’s largest lab-grown diamond producer, is set for a huge increase in capacity, after buying more than 1,100 new growing machines.

The company already has 1,600 machines, producing 2.9m carats of rough diamonds a year.

It has reportedly bought 105 high-tech growers from the Israeli firm Isrough and 1,000 more from India-based Bhanderi Lab Grown.

It said it chose Isrough’s machines for their ability to produce top-quality diamonds: D and E colors, with much of their output in the VVS clarity range.

Greenlab sells its polished diamonds through its US subsidiary, Labon, and has a distribution partnership with Florida-based Green Rocks.

India is the world’s second-largest lab-grown diamond producer with a 15 per cent market share, but trails a long way behind China, which produces about half of the world’s lab-grown diamonds.

Source: IDEX

The Kao Legend Collection: A Rare Suite of Pink Diamonds from Lesotho

The Kao Legend Collection represents an extraordinary achievement in diamond cutting and curation. Cut from a single 108.39-carat pink diamond crystal unearthed at the renowned Kao Mine in Lesotho, this suite features seven magnificent pink diamonds each documented in detail by the GIA Monograph.

At the heart of the collection lies the Kao Legend, a 20.49-carat diamond graded Fancy Intense Purplish Pink by the Gemological Institute of America (GIA). The accompanying diamonds in the collection range in colour from Fancy Intense Purplish Pink to Faint Pink, showcasing a delicate and rare spectrum of pink hues.

What sets this collection apart is not only its shared origin and harmonious beauty but also the diamonds’ classification. All seven are Type IIa diamonds known for their exceptional chemical purity and rarity, comprising less than 2% of all natural diamonds. Type IIa pink diamonds are especially coveted for their remarkable clarity and vibrant colour saturation.

The Kao Mine, one of Lesotho’s most prominent diamond sources, has established a reputation for yielding high-quality pink diamonds. Alongside the Kao Legend, the mine also produced the celebrated Pink Eternity, a 47.80-carat gem of international acclaim.

For gemmologists and collectors alike, the Kao Legend Collection exemplifies nature’s artistry and the pinnacle of diamond excellence.

US Watch and Jewelry Sales Dip in June Ahead of Tariffs

Watch and jewelry sales in the US slipped into negative growth during June – down 1.7 per cent – after 19 months of almost uninterrupted increases.

The decline, after such a prolonged positive period, reflects growing concern over the impact of US reciprocal tariffs which came into force on 1 August, along with broader economic uncertainty in the market and higher gold prices.

Meanwhile the US Department of Commerce has made significant changes to figures published last month. Sales for May have been revised down from +2.8 per cent to +0.7 per cent, based on actual transactions rather than estimates, and April is down from +2.3 per cent to +1.8 per cent.

The original figures indicated that things were better than they actually were, especially after a number of months when monthly sales increases were hovering just above zero. The June dip appears to signal a downturn ahead of the 1 August implementation of tariffs.

Source: IDEX

Diamond Ring that Flashes Color Smartphone Alerts

A “quiet tech” diamond ring flashes different colors to alert the wearer to smartphone activity.

The 1.5-ct emerald-cut CVD lab grown stone is set in a white gold bezel, and will be available for pre-order in the third quarter of 2025 at around $3,000, with products expected to be delivered in mid-2026.

French startup Spktrl, which developed the Bluetooth-enabled, AI-powered device, says it’s the first of its kind. There are other smart rings on the market, but they function as health and fitness trackers.

The sole function of Light Ring is to discreetly signal priority smartphone notifications, helping reduce digital distractions.

Built-in artificial intelligence learns user habits over time to refine which alerts activate the ring.

Spktrl was founded by Katia de Lasteyrie, a former innovation lead for LVMH’s watches and jewelry division.

“Our technology isn’t designed to replace phones or make you faster but to give you back control,” she said.

“The stone is the interface, and the color is the language. Personalized to each user, our ring communicates important messages in a novel way that is truly mindful of their time and attention,”

Source: IDEX

US Importers to Pay 37% Tariff on Botswana Diamonds

The US is almost certain to go ahead and impose a 37 per cent tariff on all goods imported from Botswana, starting tomorrow 1 August.

That is one of the highest rates of tariff being introduced by the US.

Botswana, the world’s second biggest diamond producer after Russia, has been actively seeking dialogue with the US government to reverse or mitigate the tariff, but without success.

Last month President Duma Boko said tariff imposed on Botswana worsened the already bleak future faced by the diamond industry, and were likely to hinder efforts to grow the African economy.

Most of Botswana’s rough diamonds are sold direct to India, Belgium, and the UAE, but goods worth around $500m annually are exported to the US and will be subject to tariffs. Until now diamonds have been zero-rated.

US importers will have to pay a total of 37 per cent in duties. The reciprocal duty includes the 10 per cent baseline duty that was imposed back in April.

The tariff rules for Botswana, and most other countries, are unlike those for India, where the reciprocal tariff is in addition to the baseline 10 per cent.
US-bound diamonds represent a modest slice of Botswana’s total diamond export business, and most of the country’s diamond revenue is not directly affected by the new US tariff.

It is, however, another blow to a country that relies on diamonds for the vast majority of its export revenue, and that has seen foreign sales halve amid the global downturn.

Source: IDEX