Lucapa Diamond and Petra Diamonds provided a glimmer of hope for the precious gemstones market on Tuesday by posting stronger revenues and production figures, signalling a potential recovery in the depressed diamond market.
LVMH saw revenue from its watch and jewelry division slip by 5 per cent during the first nine months of 2024 to $8.2bn. Across all its 75 maisons the French luxury conglomerate reported a 2 per cent dip for the same period, to $66.1bn. LVMH said it had shown “good resilience” and that it remained … Read more
Russia’s Finance Ministry is considering new purchases of rough diamonds from Alrosa for the State Precious Metals and Gemstones Repository (Gokhran) in 2025, Deputy Finance Minister Alexei Moiseyev told reporters on the sidelines of the Moscow Financial Forum. “We are considering this possibility,” Moiseyev said in response to possibly resuming purchases. “In order to allow … Read more
The near-empty Surat Diamond Bourse (SDB) is hoping the arrival of around 40 lab grown traders will signal a change in its fortunes. The vast new center, recognized by Guinness World Records as the largest office building in existence, was officially opened last December by India’s prime minister Narendra Modi . It has a capacity … Read more
The global supply of natural diamonds has already peaked, according to Moses Madondo, CEO of De Beers Group Managed Operations. Speaking at the Joburg Indaba, a major mining and resources conference in South Africa, he explained that production is on the decline, with several mine closures on the horizon and no significant new discoveries in … Read more
The Criminal Investigative Service (SIC) in Angola seized 710 diamonds of different carats on Sunday in Lucapa
A fancy-pink diamond pendant is set to headline an upcoming jewelry auction at Sotheby’s in Paris, where it is expected to fetch up to $612,797.00
The pulse of the jewelry industry and its relationship with the constantly changing world is reflected each year at Jewellery & Gem World Hong Kong (JGWHK). This year the annual jewelry trade show attracted more than 3,300 exhibitors, a 5% decline from 2023, according to Informa Markets, which owns and operates the fair. Although final buyer … Read more
India’s exports of polished diamonds fell by 23.8 per cent year-on-year in August
Gem Diamonds’ Letšeng mine yields 212 carat stone