Botswana holds main interest rate as diamond slump saps economy
Botswana holds main interest rate as diamond slump saps economy
De Beers
De Beers to Cut Sightholder Numbers
De Beers says it will further reduce the number of sightholders, in a move designed to build partnerships that “create value”.
Diamond miners face turning point amid weak prices
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.
Positive Step to a $100m Natural Diamond Campaign
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 to continue buying diamonds through state fund in 2025
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
Swarovski bullish on lab-grown diamond business
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
Kardashian Debuts the Princess Diana Cross
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
Lucara releases Q3 results, diamond mine shaft-sinking progress
Lucara Diamond Corp. said the long-term natural diamond price outlook remains resilient due to favourable supply and demand dynamics as a result of decreasing production volumes from major operating mines. “However, the smaller size stones market remains soft as demand is impacted by a weak Asian market and the increasing uptake of laboratory grown diamonds,’’ … Read more
De Beers Finds High-Potential Kimberlite Sites in Angola
De Beers says it has identified eight new high-potential kimberlite sites in Angola, according to the Portuguese news agency Lusa.
Mountain Province Losses Increase in “Challenging Market”
Mountain Province reported increased net losses for the latest quarter as prices keep on dropping in a “challenging market”. The Canadian miner today (7 November) announced a net loss of $13.6m for the three months to 30 September, following on from a $4.7m loss in Q2 (all figures are in US dollars). “In Q3 2024 … Read more