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The Emirati city’s central location and favorable business conditions have helped push it to prominence as a trading center. Amid the frantic schedule of Dubai Diamond Week in November, executives of KGK Group casually welcomed visitors to their new diamond and jewelry office. Nestled on the 51st floor of Almas Tower, home of the Dubai […]
Anglo American, De Beers’ parent company, has reduced the miner’s book value by $2.88 billion amid weak diamond demand. The move, which comes just one year after a $1.56 billion write-down at the end of 2023, puts De Beers’ carrying value, or the amount recoverable should the business be sold, at $4.1 billion, Anglo American said Thursday. The work […]
The Indian government has removed the tariff on the import of seeds used to manufacture lab-grown diamonds and has reduced duties on certain precious metals. Importers are now exempt from paying customs fees when bringing in seeds used to create rough synthetic diamonds, according to the union budget Finance Minister Nirmala Sitharaman issued Saturday. “The removal of […]
Transformational agreements boost Botswana’s economic development potential and secure De Beers’ long-term share in world’s greatest diamond resources The Government of the Republic of Botswana (the “Government of Botswana”) and De Beers Group (“De Beers”) today announced that, following the conclusion of negotiations announced on 3 February 2025, the two partners have now signed the […]
Natural Diamond Council is launching a report series on trends, origin, and other particularities of the ultimate gemstone – natural diamonds. It will partner with key organizations including governments, local communities, analysts, and researchers that are part of the various stages of the natural diamonds’ journey from source to market. These comprehensive reports serve as […]
January’s Fashion Week showcased creations that gave nature a chance to express itself in all its delicate and untamed states. With inspirations ranging from botanical, floral and animal, the high jewelry houses redoubled their ingenuity to capture the beauty of the natural world. Cartier, between power and sensuality Cartier‘s style is recognizable through its iconic […]
The Indian government will allow companies to import a portion of natural polished diamonds under 0.25 carats free of duty under a program that went into effect this week. The Diamond Imprest Authorization scheme is open to businesses with “two-star” export status or higher that ship out at least $15 million worth of goods per […]
Kering saw strong sales in its jewelry and watch divisions in 2024, even as a “difficult year” for the group led to a downturn in other segments. Sales at Kering’s “other houses” category — which includes jewelry and watches as well as other fashion products — slipped 8% on a reported basis to EUR 3.22 […]
The London Diamond Bourse (LDB) has debuted a digital community to help connect trade members, allowing them to network, share knowledge and gain support. LDB president David Troostwyk originally created the platform, CiviGem, as a tool for the exchange after seeing a need for a centralized digital community to strengthen industry ties. The bourse is now […]
Importers that bring jewelry containing diamonds into the United States will have to specify the gems’ “country of mining” beginning in April, according to rule changes posted last month by U.S. Customs and Border Protection (CBP). “Country of mining” is defined as “where the diamonds were mined, extracted, produced, or manufactured wholly or in part.” (Current rules require information […]
The De Beers Group has published its first results for 2024 and its outlook for 2025. Group sales in 2024 were $3.3 billion, down 23% on 2023. Volume sales were down 28% on 2023, despite a 3% increase in average prices, reflecting the resilience of higher-value stones. Value sales were down 25%. Diamond production in […]
The US jewelry market was on a roller coaster ride in 2024. While overall sales rose, key components underperformed. Natural diamonds lost some of their sparkle, but those that did opt for them were willing to dig deep into their pockets and pay more. That was not the only departure from Econ 101 mainstays. Demand […]