De Beers – The Diamond Certification Laboratory of Australia (DCLA)

Tanzania’s Williamson Diamonds goes totally Pink

London-listed and South Africa-active Petra Diamonds has sold its entire shareholding in Williamson Diamonds of Tanzania, plus all shareholder loans owed to it, to Pink Diamonds Investments, also of Tanzania.

Pink diamonds are known for their pink hue, ranging from light to deep rose.

The up-to-$16-million transaction has obtained Tanzanian Fair Competition Commission approval for Williamson ownership now vesting entirely with Pink, a Taifa affiliate, which is viewed as possessing the technical and financial capability to conduct operations for the benefit of stakeholders.

With more than three decades of mining-related experience, Taifa’s working relationships extend to mining majors such as De Beers, Barrick and AngloGold Ashanti, and the company is now entering a phase of exclusive ownership of an asset where about 1 100 people are employed, most of them Tanzanian.

The mine’s reserves and resources as of June 30 were reported as 37.17-million carats. With liquidity challenges continuing, further capital investment will be required.

Twenty per cent of any distributable cash generated annually by Williamson will be payable by Pink Diamonds to Petra until the selling price is met, Petra joint interim CEO Vivek Gadodia outlined in a release to Mining Weekly, in which he wished Pink all of the best as its takes over the mine, the kimberlite pipe of which was discovered by Canadian geologist John Williamson in 1940 and which led to ongoing operation since then, making it one of the world’s oldest continuous operating diamond mines. Its yield of 19-million-plus diamond carats includes a 54.5 ct Williamson pink diamond that was presented to British royalty in 1947.

Meanwhile, Petra, with the Cullinan and Finsch underground diamond mines in South Africa, is focusing on value rather than volume at a time when diamond-mining headwinds are tending to dominate the headlines and the usual sale of rough diamonds at acceptable prices is reportedly proving difficult.

This has resulted in the stockpile of rough diamonds held by De Beers, for example, rising to $2-billion, which, according to a report in the Financial Times, is the biggest hold back of rough diamonds since the financial crisis of 2008.

Source: Miningweekly

$3.3m Loss as Brilliant Earth Customers Spend Less

Brilliant Earth, which sells both natural and lab grown diamonds

Brilliant Earth, the US-based “ethical jeweler”, reported a $3.3m net loss for the first quarter of 2025, as customers opted for less pricey goods.

The total number of orders rose by over 12 per cent (40,525 to 45,535) but the average value fell by more than 14 per cent ($2,402 to $2,062).

Brilliant Earth, which sells both natural and lab grown diamonds, said net sales were down 3.5 per cent to $93.9m.

“We’re pleased with our first quarter performance, which demonstrates the continued strength and resilience of our business model as we delivered our 15th consecutive quarter of profitability as a public company,” said CEO Beth Gerstein, referring to its adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $1.1m, rather than its $3.3m GAAP (Generally Accepted Accounting Principles) net loss.

Gerstein said Q1 engagement ring sales had increased year-on-year, fine jewelry bookings had enjoyed a double-digit boost and sales in the two weeks to Valentine’s Day broke company records.

Brilliant Earth, based in San Francisco, California, and Denver, Colorado, was founded as an online-only business in 2005 and went public in 2021. Since then it has opened 41 bricks and mortar stores.

Source: IDEX

Rare 10-Carat Blue Diamond Could Fetch $20 Million at Sotheby’s Geneva Auction

A remarkable 10-carat blue diamond, dubbed the “Mediterranean Blue Diamond,” is expected to achieve up to $20 million when it goes under the hammer at Sotheby’s in Geneva on 13 May. The diamond, which boasts the highly coveted “fancy vivid blue” colour grade, represents one of the most prized and rare categories in the world of coloured diamonds.

Discovered in 2023 at South Africa’s famed Cullinan mine, the Mediterranean Blue was originally a rough diamond weighing an impressive 31.94 carats. What followed was an extraordinary journey — a full year of study, including precise analysis to maximise both beauty and value, and six months of planning and expert cutting to reveal the gem in its final cushion-shaped form.

Sotheby’s, which is overseeing the auction, describes the diamond as a standout in its class. Jessica Wyndham, head of high jewellery at Sotheby’s Geneva, remarked, “The market for coloured diamonds continues to go from strength to strength.” Indeed, blue diamonds of this size and calibre are vanishingly rare, and collectors around the world are likely to compete fiercely for the chance to own such an exceptional gem.

Fancy vivid blue is the highest grading for coloured diamonds, denoting a saturation and purity of colour that few stones ever achieve. The Mediterranean Blue, with its intense oceanic hue and exceptional clarity, is a testament to nature’s rarity and human craftsmanship.

Over the years, similar diamonds have fetched extraordinary prices. In 2016, the “Oppenheimer Blue,” a 14.62-carat fancy vivid blue diamond, sold for a staggering $68.7 million at Christie’s in Geneva, setting a world record for any fancy vivid blue diamond sold at auction. That same year, another exceptional blue stone — a 24.18-carat intense blue diamond also mined from the Cullinan site — sold for $25 million, reinforcing the global appetite for ultra-rare coloured diamonds.

The Cullinan mine, known for producing some of the world’s most famous diamonds — including parts of the Cullinan I and II, which are part of the British Crown Jewels — has once again proven its status as a source of legendary stones.

With demand for coloured diamonds surging, particularly among high-net-worth collectors and investors seeking portable, tangible assets, the upcoming sale of the Mediterranean Blue Diamond is expected to draw worldwide attention.

Its appearance at auction not only marks a rare opportunity to acquire a gem of unmatched beauty and provenance, but also reflects the continuing strength and allure of the coloured diamond market — where rarity and story combine to create lasting value.

Auction House Pulls Fake Pink Diamond from Sale

A leading auction house was shocked to discover a pink diamond it planned to sell was actually a fake.

The gem was sent to the Institute of Diamonds – the De Beers diamond grading and verification division – ahead of the sale.

It was examined there and found to be a forgery, De Beers CEO Al Cook said in a LinkedIn post to his 42,500 followers.

“At first glance, the stone looks beautiful. It even has an inscription on the side which claims its a diamond,” he said.

But a combination of experts and sophisticated detection machines confirmed the stone was not actually diamond.

“As soon as our team looked at the stone, they suspected it was a fake,” said Cook in a follow-up to his original post.

“The certification inscription on the side had led the auction house to believe it was real.”

He also said: “Our team was quite excited to see this extraordinary stone and actually very sad when it turned out to be a fake.

“Luckily the fraud was stopped before an auction customer paid a vast sum of money!”

Cook didn’t provide further details, and De Beers declined to elaborate.

In his original post Cook said: “Henry Smith from our Institute of Diamonds confirmed that this pink stone was a forgery. ‘It had even been lasered with a fake inscription’.

“Henry explained that the auction house was shocked, but ‘cases like this emphasise the critical role of advanced detection technologies’.”

Cook also said in his post that De Beers was ramping up production of DiamondProof, the verification device aimed specifically at retailers that was showcased at JCK last year and which is now available in the US.

He said it can distinguish a natural diamond from a lab-grown or moissanite in a few seconds.

Source: IDEX

US Watch and Jewelry Sales Steady Again in March

Watch and jewelry sales in the US remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures.

Jewelry sales rose slightly, while watch sales dipped, as consumers opted for higher-priced items, but bought fewer of them.

In February overall sales increased by just 0.2 per cent and in January they fell by 1.0 per cent

The US government’s BEA (Bureau of Economic Analysis) reported a 0.7 per cent increase in consumer spending in March, the biggest increase for two years, but said it was largely driven by a rush to buy cars before US reciprocal tariffs forced prices up.

Watch and jewelry sales have been characterized by very modest increases in recent months, following on from a year of sustained growth – 10 per cent or more in some months – as shown below.

Reciprocal US tariffs – announced in April, then paused until July – will almost certainly hit sales, as producers forced to either absorb the costs or pass them on to consumers.

Source: IDEX

De Beers Boss Says Trump’s Diamond Tariffs Do Nothing for U.S. Jobs

The diamond world is facing fresh turbulence following the U.S. government’s decision to impose tariffs on imported diamonds — a move that De Beers CEO Al Cook says does nothing to support American jobs or the economy.

In an exclusive interview with the Financial Times, Cook made it clear: “There are no U.S. diamond mining jobs to protect.” He stressed that these tariffs don’t create employment or benefit the domestic industry — instead, they act as a consumption tax that ultimately punishes the American public.

A Tax on Love, Not a Boost to Industry
The U.S. remains the largest market for diamond jewellery, accounting for about half of global demand, yet it has no significant commercial diamond mining of its own. Every diamond on American soil has been imported — meaning the 10% blanket tariff on all imports, introduced by President Donald Trump, hits the diamond trade especially hard.

Unlike many raw materials that were exempt from the tariffs, diamonds were left out, intensifying the impact on a sector already grappling with declining demand and competition from synthetic alternatives.

According to Cook, the result has been immediate: the trade in natural diamonds briefly ground to a halt. The World Diamond Council echoed his warning, stating that $117 billion in annual revenue and over 200,000 U.S. jewellery jobs could be at risk if diamonds aren’t removed from the tariff list.

“Tariffs on diamonds are not protecting American industry,” Cook emphasised. “They’re just increasing the cost of engagement rings, anniversary gifts, and other sentimental purchases.”

Global Trade Routes Disrupted
What makes diamonds unique is their complex, high-value supply chain. They’re small, easy to transport, and often pass through multiple countries — from mines in Botswana and Angola, to polishing hubs in India, and finally into U.S. jewellery stores. Tariffs disrupt that finely tuned system.

This comes at a particularly sensitive moment for De Beers, as parent company Anglo American prepares for a sale or initial public offering (IPO) of the diamond giant. Despite industry challenges, De Beers is pushing ahead with IPO plans that could launch by early next year.

But the company is feeling the pain too: first-quarter revenue dropped 44% year-on-year to $520 million, reflecting both lower prices and reduced demand. Anglo American has also written down De Beers’ value by $4.5 billion over the past two years.

Hope on the Horizon?
Still, Cook remains optimistic. He believes that over time, U.S. tariffs on diamonds will be lifted. The American government has already granted tariff exemptions for items like smartphones and car components, and Cook is confident natural resources like diamonds will follow suit.

Adding to that optimism are positive developments in U.S.–India trade talks. India polishes over 90% of the world’s diamonds, making it a key link in the supply chain. A favourable trade agreement between Washington and New Delhi could ease the pressure and offer the diamond sector a much-needed reprieve.

In the end, the message from De Beers is clear: Tariffs on diamonds don’t help American workers or industry — they just make life more expensive for consumers. As negotiations progress and the global market adjusts, the diamond world will be watching closely to see whether policymakers come to the same conclusion.

De Beers Sale on Right Track, says Botswana Vice President

Botswana’s vice president says he’s confident that a new buyer will be found for De Beers by the end of the year – and he hinted that the government could substantially increase its own stake, currently 15 per cent.

Ndaba Gaolathe (pictured) said there were countries, funds and companies that all had a “deep interest” in acquiring the 85 per cent share being offered by Anglo American, and he said he was confident they were “on the right track”.

The UK-based miner is selling off De Beers, its diamond division, together with other assets, to focus on copper, its most profitable activity.

Anglo has written down the value of De Beers twice in just over a year, as sales slump and the company descends from profit to loss. It is now valued at $4.1bn, a fraction of the value when Anglo acquired overall control of the company in 2012.

Gaolathe, quoted by Bloomberg News yesterday (30 April) after an interview in Washington, USA, said the Botswana government could increase it take in De Beers (currently 15 per cent) to as much as 50 per cent.

Anglo is seeking to a sale or IPO of De Beers by the end of this year.

Source: IDEX

Rethink Yellow Diamond Jewels: How Yellow Diamonds Get Their Colour

Yellow diamonds are making a stylish comeback. Whether offering a warm, earthy glow or a vibrant pop of colour, these fancy-coloured stones bring a fresh, contemporary edge to fine jewellery. They can be worn as neutrals, used as centrepieces, or layered for subtle impact—making them as versatile as they are striking.

The colour in yellow diamonds is the result of nitrogen atoms bonding with carbon within the diamond’s crystal lattice. This bond subtly alters the diamond’s atomic structure, changing the way it interacts with light. Specifically, it absorbs the blue part of the visible spectrum, allowing yellow tones to dominate. The Diamond Certification Laboratory of Australia (DCLA) grades yellow diamonds based on their colour intensity, classifying them as light, intense or vivid. The deeper and more saturated the yellow, the rarer and more valuable the diamond. Curiously, the lighter tones are often more affordable than white diamonds, making them an attractive alternative for those seeking something both elegant and unique.

Why Designers Are Embracing Yellow Diamonds

Jewellery designers are increasingly drawn to yellow diamonds for their warmth, individuality, and unexpected elegance. These stones challenge the norm, offering something joyful and radiant while still being refined. As the jewellery world moves beyond the conventional, yellow diamonds are gaining traction as centrepieces with personality.

How to Wear Yellow Diamonds

Once your collection includes the classics such as white diamond hoop earrings, tennis bracelets, stacking rings or a line necklace it’s easy to introduce a splash of colour. Yellow diamonds pair beautifully with white or rose gold and work well layered with other tones. Go bold with vibrant yellow bangles and cocktail rings, or opt for a more understated approach with a mix of pale-yellow and Champagne diamonds, as seen in Sethi’s neutral-toned confetti styles.

Yellow Diamonds: The Emerging Trend in Engagement Rings

More couples are seeking engagement rings that reflect their personal style rather than adhering to tradition. Yellow diamonds especially those in softer or more earthy tones offer a refined, alternative aesthetic that still feels timeless and romantic.

One designer, Root, recalled a client who brought him a family heirloom: a pear-shaped yellow diamond. He combined it with a matching white diamond to form a heart-shaped engagement ring. Initially, clients were hesitant about yellow diamonds, unsure whether they carried the same prestige. That perception is changing rapidly.

Designer Lau echoes this sentiment. “As our view of what defines a high-quality diamond evolves, I find myself drawn to warmer tones and even imperfect shapes, they feel authentic and special,” she explains. Yellow diamonds are increasingly favoured for their character, individuality, and natural charm.

Why Yellow Diamonds Are Here to Stay

There’s an undeniable joy and brightness that yellow diamonds bring. Whether in soft pastel shades or vivid canary tones, they evoke a feeling of sunshine and optimism, something many people are seeking in their jewellery today.

As the desire for unique and meaningful designs continues to grow, yellow diamond engagement rings are well-positioned to become the next generation’s classic. After all, who can resist a jewel that radiates light, joy, and a touch of the unexpected?

Discover the magic of yellow diamonds, your perfect piece may be one sunny sparkle away.

Botswana economy hit hard as diamond slump deepens

Botswana is bracing for deeper spending cuts and a widening budget deficit as a prolonged slump in diamond demand pressures its economy, even as the country signals interest in expanding its stake in diamond giant De Beers.

Vice President and Finance Minister Ndaba Gaolathe said the government is preparing to make “drastic” fiscal adjustments to stay afloat, including slashing expenditures and boosting tax revenues.

“The first thing we need to do, obviously, is to live within our means,” Gaolathe said in Washington. “That means cutting spending — doing away with what we believe is some of the fat.”

Diamonds make up a third of Botswana’s revenue and lead its exports, but a prolonged drop in global demand since mid-2023 has forced the government to raise its budget deficit forecast to 9% of GDP — the highest since the pandemic. The downturn has also led to a 3% contraction in the economy this year.

With foreign reserves under pressure, officials plan to cut costs by trimming the government vehicle fleet and curbing travel. They’re also moving to boost revenue through stricter tax enforcement and a new digital transaction levy set to launch in September.

Despite fiscal stress, Gaolathe said Botswana is reluctant to seek financing on international markets, preferring concessional loans. “Let’s borrow where it’s cheapest,” he said.

Bigger De Beers stake
The diamond downturn has also accelerated changes in the industry. Anglo American (LON: AAL), which owns 85% of De Beers, has been seeking a buyer for the iconic diamond company. Botswana, which holds the remaining 15% and is De Beers’ primary diamond source, says it wants a greater say in the sale.

“We are very confident that partners are coming forward,” Gaolathe told Bloomberg, noting interest from countries, funds and companies with “deep interest” in the industry. Botswana wants any new owner to be financially strong and committed to the diamond business long-term — and said it is open to increasing its stake to as much as 50%.

The government and De Beers recently signed a 10-year deal to fund global marketing aimed at reviving demand for natural diamonds, which have been losing ground to lab-grown alternatives. New US tariffs on Botswana’s diamonds have since added uncertainty to any near-term rebound.

“High tariffs on our diamonds will have a deleterious effect on us,” Gaolathe warned. The Bank of Botswana expects only a “muted recovery” this year.

Source: Mining.com

Bank of Namibia’s Warning on US Diamond Tariffs

Benguela Gem, one of Debmarine's diamond vessels

Namibia’s diamond industry may be pushed into deeper crisis if United States (US) president Donald Trump pushes ahead with implementing an export tariff of 21% on Namibia.

The governor of the Bank of Namibia has warned that US tariffs on diamonds – which account for 29 per cent of the country’s exports – could push the country into a deeper crisis.

It is already suffering the worst drought in over a century, compounded by the slump in diamond demand and other economic hardships, spiralling unemployment and a malaria outbreak.

“The diamond is already going through a difficult time because of low demand, and competition from lab-grown diamonds, and now you have all these tariffs,” said governor Johannes !Gawaxab*.

Namibia currently enjoys duty-free exports to the US on diamonds and most other products, but President Donald Trump announced a 21 per cent export tariff for the country in his 2 April “Liberation Day” speech.

He subsequently said there would be a 90-day pause before reciprocal tariffs on a whole list of countries were implemented.

Namibia is world’s eighth biggest diamond producer by carat, and the sixth by value, primarily from marine diamonds. Last year 12.4 per cent of its polished diamonds were sold to the US.

*The exclamation mark represents a click sound in Khoekhoegowab, an official language of Namibia.

Source: IDEX