Revenue Slump as Petra Defers Sales
Petra reported a revenue slump for Q1 2025 after deferring the sale of almost all its South African goods because of persistent weak demand.
Pink Diamond
De Beers Diamond Production Down by a Quarter
De Beers’ diamond production fell by 25 per cent during the quarter ending 30 September, and could fall even further.
De Beers to Disclose Diamonds’ Country of Origin
De Beers says it will, for the first time, disclose the country of its diamonds’ origins – Botswana, Namibia, South Africa, or Canada.
UK miner Vast Resources appears to have finally secured the release of a parcel
UK miner Vast Resources appears to have finally secured the release of a parcel
Diamond miners results spark optimism for market recovery
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 Watch and Jewelry Revenue Down 5%
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 considering new diamond purchases from Alrosa in 2025
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
Lab Grown Companies Move to Near-Empty Surat Bourse
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
Rough Diamond Supply has Peaked
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
Angola Seizes 710 Rough Diamonds from Three Guineans
The Criminal Investigative Service (SIC) in Angola seized 710 diamonds of different carats on Sunday in Lucapa