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Record-Breaking Diamonds, the latest in NDC’s Diamond Reports series, explains how advances in technology are fuelling an unprecedented run of spectacular diamond discoveries. To date, only four diamonds (two gem-quality, one near-gem and one carbonado diamond) exceeding 2,000 carats have ever been discovered – and two of those have emerged in the last two years. […]
Will the diamond market experience a positive rebound next year, or will it remain under sustained pressure? Avi Krawitz, journalist and industry expert, and Rob Bates, Editor-in-Chief of JCK Online and author, attempt to answer this question during a podcast available on The Diamond Press. By outlining the different possible scenarios, they assess the factors […]
Petra Diamonds unearthed the 41.82-carat, Type IIb blue diamond at the Cullinan Mine. London—Petra Diamonds Ltd. has recovered a 41.82-carat blue diamond of “seemingly exceptional” color and clarity from South Africa’s famed Cullinan Mine. Petra announced the recovery of the Type IIb diamond on Tuesday but provided few additional details. The mining company, which recently refinanced […]
“True impact is measured by the mark we leave on the lives of others.” These words from Rubel & Ménasché CEO Stephan Wolzok place people at the heart of everything, underscoring the significance of the Maison’s initiatives detailed in its latest Impact Report. It is a statement that embodies the commitment and spirit behind every […]
Purvi Shah tells Rapaport News her plans for the role, which she will assume on February 7. The Responsible Jewellery Council (RJC) has tapped Purvi Shah for the role of executive director, which has been open since Melanie Grant stepped down in January. Shah will join the organization on February 7 from De Beers, where she is […]
The diamond industry must brace itself for another shakeup as restrictions on Russian supply may be lifted sooner than anticipated. Alrosa’s reintroduction to the market should now be considered an imminent possibility, after President Trump presented a 28-point draft proposal in Kyiv to end Russia’s war in Ukraine. The plan, developed with Moscow’s input, maps […]
In India’s manufacturing heartland, despair has begun to claim the lives of cutters and polishers as sanctions choke supplies and lab-grown stones reshape markets. Our reporters share workers’ firsthand stories. In the narrow lanes of Surat, the rhythmic whir of polishing wheels once sang of precision and prosperity. Today, they hum with unease. Inside dim […]
Namibia’s cabinet has voted on a proposal for the country to take a stake in De Beers, according to a report in the Namibian Sun. The newspaper said Namibia was interested in acquiring as much as 10% to 15% of the company, possibly in a consortium with Angola and Botswana, which have both expressed interest in […]
The Kimberley Process (KP) failed to reach a consensus on broadening the definition of conflict diamonds at last week’s plenary in Dubai, according to industry organizations. “While not unexpected, it is obviously a massive disappointment for civil society that, once again, the KP has failed to expand the conflict-diamond definition,” said Jaff Bamenjo, coordinator of […]
The Chinese government has stripped the country’s main diamond exchange of its preferential tax treatment. From November 1, importers of polished diamonds through the Shanghai Diamond Exchange (SDE) will no longer enjoy a heavily reduced rate of import value-added tax (VAT), according to documents the country’s State Tax Administration (STA) released last week. Since 2006, […]
India’s Gem & Jewellery Export Promotion Council (GJEPC) presented a host of policy recommendations to support the industry at a meeting with the country’s prime minister, Narendra Modi. GJEPC chairman Kirit Bhansali called for modernization of India’s Customs Act 1962, which grants the government powers to collect import duties. His recommendations include implementing a risk-management […]
What does the diamond industry want, or expect, from the new owners of De Beers, whoever they turn out to be? Should we expect a notable shift in the company’s character, or another adjustment to its strategy after the substantial changes CEO Al Cook has already introduced over the past two years? New owners usually […]