Author: Megha Patel

Russia remained the leading country for rough diamond production by value in 2024, holding its position for a second consecutive year. According to data released by the Kimberley Process, the Russian Federation produced 37.3 million carats of rough diamonds, valued at $3.34 billion, despite continued international sanctions and a subdued global market. Production Trends and Market Conditions Global rough diamond production increased by 6% in volume to 118 million carats. However, the total value declined by 10% year-on-year to $11.48 billion, reflecting weaker consumer demand and lower average prices across key producing countries. Russia’s output matched the previous year’s volume…

Governments of major diamond-producing countries and industry leaders have signed the Luanda Accord, committing to allocate 1% of annual revenues from rough diamond sales to support the marketing of natural diamonds through the Natural Diamond Council (NDC). Backing for Natural Diamond Promotion The agreement was signed during a Ministerial Round Table in Luanda, Angola, where participating countries and companies expressed a unified approach to enhancing global consumer awareness of natural diamonds. This initiative aims to address a decline in category marketing investment and respond to the impact of synthetic alternatives on consumer perceptions. Angola’s Minister of Mineral Resources, Oil and…

HRD Antwerp, the diamond grading laboratory subsidiary of the Antwerp World Diamond Centre (AWDC), has announced it will cease issuing quality certificates for loose laboratory-grown diamonds from 2026. The decision is part of an effort to reinforce the distinction between natural and synthetic diamonds. Scope of the Change The laboratory will stop grading loose lab-grown diamonds intended for commercial sale, but will continue to certify jewellery that contains synthetic diamonds. HRD will also continue to analyse synthetic diamonds for research and technical purposes, but not for grading or commercial use. Ellen Joncheere, CEO of HRD Antwerp, stated: “As of 2026,…

Rio Tinto has recovered a 0.45-carat purple diamond at its Diavik mine in Canada’s Northwest Territories, marking the first discovery of a purple stone of this size at the site since mining commenced in 2003. Unusual Find at a Predominantly White Diamond Deposit Diavik, Rio Tinto’s last operational diamond mine following the closure of the Argyle mine in Australia, has traditionally yielded primarily white diamonds, with yellow diamonds accounting for less than one per cent of production. The recent recovery of the purple diamond is therefore a significant geological outlier. In a public statement, Rio Tinto said: “We recently had…

Botswana, Angola and Qatar have expressed their intent to join the World Federation of Diamond Bourses (WFDB), as announced during the organisation’s 2025 Presidents’ Meeting held in New York. The high-level gathering, hosted in collaboration with the Diamond Dealers Club of New York, brought together global stakeholders for discussions focused on the future of the natural diamond sector. WFDB Emphasises Unified Global Voice The event commenced with WFDB President Yoram Dvash underscoring the organisation’s mission to secure the future of the natural diamond industry through ethical leadership, transparency, and unity. “We are not just preserving the diamond industry — we…

The Natural Diamond Council (NDC) has published a report examining key developments in the laboratory-grown diamond sector focusing on trends in production, pricing, sustainability claims, and product disclosure, drawing on research from independent analysts Edahn Golan and Paul Zimnisky. Production and Environmental Profile The report states that more than 70% of laboratory-grown diamonds are mass-produced in factories in China and India, where coal remains a primary energy source. The production processes—High-Pressure, High-Temperature (HPHT) and Chemical Vapour Deposition (CVD)—require sustained high temperatures of around 1,093°C and substantial volumes of water for cooling. Pricing Trends and Margins The report outlines a sharp…

On 12 June, the Antwerp World Diamond Centre (AWDC) began its “We Protect a Legacy” campaign with a vending machine activation at a Belgian shopping mall, providing members of the public with the opportunity to purchase a lab‑grown diamond for €5, aiming to illustrate the price difference between synthetic and natural diamonds. AWDC president Isidore Morsel said: “With this campaign, we draw a clear line and inform the public in a transparent and accurate way. Only a well‑informed consumer can make conscious choices and avoid being misled.” Market Pricing and Consumer Clarity Morsel also noted that synthetic diamond prices have…

De Beers Group has introduced two new downstream initiatives at the JCK Las Vegas Show, aimed at supporting demand for natural diamonds and strengthening transparency through traceability and digital tools. Ombré Desert Diamonds Marketing Concept De Beers has introduced its first new ‘beacon’ concept in over a decade, titled Ombré Desert Diamonds. The beacon is a category marketing initiative aimed at promoting natural diamond jewellery through coordinated design themes. The Ombré Desert Diamonds concept is inspired by desert landscapes in diamond-producing areas, with designs incorporating colour gradations such as whites, champagnes and ambers. Multi-stone designs were previewed at the show,…

The Gemological Institute of America (GIA) will introduce a new descriptive system for laboratory-grown diamonds later this year, replacing the traditional colour and clarity grading scales originally developed for natural diamonds. Laboratory-grown diamonds will still be accepted for evaluation and identification under the revised system. The new framework will categorise qualifying laboratory-grown diamonds as either ‘premium’ or ‘standard’, based on a combination of characteristics including colour, clarity and finish. Diamonds that do not meet the minimum threshold will not receive a classification. Until the new system is in place, current services for laboratory-grown diamond reports will remain available. Reflecting Narrow…

President Duma Boko has announced plans to change how Botswana manages its mineral sector, stating that all diamonds mined in the country must be cut and polished locally. The policy is part of a government effort to expand local processing of minerals, including diamonds, copper, and nickel, before export. Shift to Domestic Diamond Manufacturing Speaking at a public meeting in Ramotswa, President Boko said: “No diamond will leave this country raw — all will be cut and polished here.” He added, “We are moving to a point where no mineral will leave this country without being processed. We will bring…

Gemological Science International (GSI) has opened a new laboratory in Bangkok, Thailand—its 14th globally. The facility is located in the city’s gem and jewellery district, a key centre for international coloured gemstone trading. The laboratory will serve both local and international clients and offers testing and certification services for coloured gemstones, natural and lab-grown diamonds, pearls, and finished jewellery. Range of Services The Bangkok facility provides comprehensive testing, analysis, and certification services across a wide array of product categories, including coloured gemstones, natural and lab-grown diamonds, finished jewellery, and pearls. The lab also specialises in the screening and detection of…

The World Federation of Diamond Bourses (WFDB) will hold its annual Presidents’ Meeting in New York from 10–11 June. The event will feature participation from government representatives and senior figures across the diamond supply chain to discuss current issues affecting the natural diamond sector. Hosted by the Diamond Dealers Club of New York and led by President Elliot Krisched, the meeting is centred on the theme “Tariffs and Supporting Natural Diamonds”. It will include a series of expert panels and discussions focused on current challenges and policy considerations within the industry. Government Representation Speakers will include Botswana President Duma Boko…

Dr Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), has been presented with a Lifetime Achievement Award by the International Colored Gemstone Association (ICA). The award was conferred during the ICA Congress held in Brasilia from 19 to 22 May. The ICA award was presented to Dr Cavalieri in recognition of his work supporting standard-setting and international cooperation within the coloured gemstone sector. Statements from ICA Leadership Damien Cody, President of the ICA, said: “Gaetano Cavalieri stands today as one of the most respected and influential figures in the global jewellery community. His dedication spans decades, and we, as…

Progress made during 2025 Intersessional in Dubai as African Diamond Producers Association proposes revised language The Kimberley Process (KP) has taken a notable step forward toward expanding its definition of “conflict diamonds,” following developments at its 2025 Intersessional meeting held in Dubai from 12–16 May. The advancement stems from a proposal submitted by the African Diamond Producers Association (ADPA), which represents 15 member countries and five observers. This represents a notable step forward in the KP’s ongoing review and reform efforts. Current and Proposed Definition The current definition of conflict diamonds—unchanged since the KP’s inception in 2000—refers only to rough…

The Gemological Institute of America (GIA) has launched GemKit by GemKids, a free digital education resource designed to introduce primary-level students to gemmology. Aimed at pupils in years equivalent to US grades four to six, the programme includes lesson plans, worksheets, videos and activities aligned with the Next Generation Science Standards (NGSS). Curriculum-Aligned Gemmology Content GemKit is structured to support earth science education and is available for use in classrooms and homeschool settings. The digital programme includes modular unit plans that can be used in full or in part, offering flexibility for educators. Cathryn Ramirez, Chief Learning Officer at GIA,…

De Beers has reportedly been offering rough diamonds at reduced prices to a limited number of trading partners, according to buyers familiar with the matter. These transactions, which fall outside the company’s standard sales framework, are said to involve discounts ranging from 10% to 20% off official prices. De Beers has not publicly confirmed the details of these arrangements and declined to comment when approached. Under usual practice, De Beers conducts ten scheduled sales each year in Botswana for a group of approximately 70 authorised customers, known as sightholders. Prices at these events are fixed, and while purchases are not…

Alrosa has recovered a 468.30-carat amber-coloured diamond from the Mir mine in Yakutia, the largest gem-quality stone recorded in Russia to date. It has been named “80 Years of Victory in the Great Patriotic War”, marking the 80th anniversary of the Soviet Union’s World War II victory. Recovery at Reopened Mir Mine Measuring 56mm by 54mm by 22mm, the diamond surpasses the previous Russian record of 401 carats set in 2013. It was recovered from the Mir mine, which resumed operations after being closed in 2017 following a fatal flood that resulted in eight deaths. The Mir mine, active since…

De Beers Group has announced its intention to close Lightbox, its lab-grown diamond (LGD) jewellery brand, as part of a broader strategy to refocus its operations around natural diamonds. The decision is described as a step in executing the group’s “Origins Strategy”, which was unveiled in May 2024, aimed at simplifying operations and redirecting investment towards core segments. As part of the wind-down, De Beers is in discussions with potential buyers regarding certain Lightbox assets, including inventory. The group confirmed that it will continue to support customers through warranties and after-sales service during the closure process. Declining Lab-Grown Prices Prompt…

The World Federation of Diamond Bourses (WFDB) has formally expressed support for an industry-wide request to the U.S. Government, urging the exemption of natural diamonds from proposed import tariffs. The appeal centres around the economic impact that such duties could have on the U.S. jewellery sector and was initiated by the World Diamond Council (WDC). The WDC statement, released earlier this week, calls for natural diamonds (HS Codes 7102.10 and 7102.31) to be included on Annex II, exempting them from the proposed tariffs. The WDC has received backing from multiple trade bodies, including the Antwerp World Diamond Centre (AWDC), the…

The Jewelers Vigilance Committee (JVC) has introduced an online tool to help track U.S. tariff changes relevant to the jewellery industry. The Tariff Tracker is now live and provides information on import duties for jewellery, gemstones, and precious metals. Purpose and Scope According to the JVC, the tool outlines how these tariffs may affect import costs, customs compliance, and supply chain planning. It will be updated when changes are announced and serves as a reference point for industry members. The resource is not a substitute for legal advice, and users are encouraged to consult legal professionals for compliance issues. Development…

De Beers Group has recommenced its diamond auction operations in Botswana following the relocation of its Auctions business from Singapore to Gaborone. The move consolidates the Group’s global diamond trading activities in Botswana, completing the transfer of its auction operations. The Auctions business is now operating alongside the Group’s Sightholder sales activities already based in Gaborone, which distribute rough diamonds through term contracts and auctions. Pilot Auction Conducted During Cycle 3 Sales resumed with a small-scale trial auction during Sales Cycle 3, directed at Sightholder customers. De Beers reported a high level of participation from Sightholder customers during the trial…

The Gemological Institute of America (GIA) has confirmed the reinstatement of its global laboratory operations, including the acceptance of goods requiring shipment to the United States. The update follows a recent suspension of international shipments linked to changes in US import tariffs. International Shipping to the US Reinstated GIA laboratories outside the United States, including those in Hong Kong and Dubai, have resumed standard service procedures. The organisation is once again accepting items that need to be sent to the US for analysis or certification. “All GIA laboratories have resumed accepting goods according to their local service criteria,” the organisation…

Diamonds Do Good has completed its first “Diamonds Do Good in Action” trip to Botswana. The initiative was designed to provide jewellery industry participants with on-site exposure to natural diamond mining operations and related community projects. The itinerary included visits to the Jwaneng diamond mine and a local diamond cutting and polishing facility. Attendees observed various stages of the supply chain and met employees, including individuals with disabilities, working within the sector. The delegation also met with government representatives to learn how diamond revenues have contributed to infrastructure development, including roads, schools, and hospitals. The visit also included time in…

Tiffany & Co. has launched Blue Book 2025: Sea of Wonder, its latest high jewellery collection. Designed by Chief Artistic Officer Nathalie Verdeille, the collection is divided into six chapters, each inspired by marine forms and environments, and draws on the house’s historic connection to oceanic motifs, particularly those developed by Jean Schlumberger. Design Themes and Inspiration The collection explores themes ranging from ocean flora to aquatic creatures and wave formations, combining natural references with detailed craftsmanship and transformable designs. Verdeille stated: “Each piece in our latest Blue Book collection, Sea of Wonder, captivates and invites us to lose ourselves…

De Beers has reported a 44 per cent fall in rough diamond sales revenue for the first quarter of 2025, according to figures released by its parent company, Anglo American. The miner sold 4.7 million carats across its first two sights of the year, generating $520 million, compared to $925 million from 4.6 million carats in the same period of 2024. The average price per carat declined by 38 per cent to $124. Sales and Pricing Trends The decline in average price reflects a combination of a 15 per cent drop in De Beers’ rough diamond price index, a shift…

A diamond cutter in Israel is facing legal proceedings that could see him personally liable for the full value of a $270,000 (approximately 1 million shekels) diamond that was destroyed during the cutting process. The case involves the Israel Diamond Exchange (IDE) Arbitration Tribunal, two supplier companies, and legal proceedings initiated in the Tel Aviv District Court. Background to the Incident The diamond cutter, identified only as Y, was employed by a company owned by his brother when the incident occurred. While processing the stone — a recognised high-risk aspect of diamond processing — the diamond shattered, rendering it worthless.…

Sanctions imposed by the G7 countries on Russian diamonds are proving largely ineffective, according to Pyotr Karakchiev, head of the international cooperation department at Alrosa, speaking at the Khozaktiv-2025 corporate forum. Karakchiev said the absence of a global tracing system for rough diamonds is a key factor limiting the sanctions’ impact. Tracing Deficiencies and Industry-Specific Challenges Karakchiev stated that although sanctions “force us to come up with new means of interaction,” they have not achieved the intended effect. “The sanctions that our adversaries dreamed up were supposed to affect us in a big way but they are not achieving the…

Swiss watch exports rose by 1.5% year-on-year in March 2025, reaching CHF 2.13 billion, following declines in the previous months. The growth was primarily driven by increased demand from the United States and the United Kingdom, while markets in Asia continued to show signs of contraction. Despite the monthly gain, export figures for the first quarter of 2025 remained slightly negative overall, down 1.1% to CHF 6.11 billion. Market Performance by Region The United States remained the leading market for Swiss watches, with exports rising 13.7% in March to CHF 405.2 million. Japan and the United Kingdom followed with growth…

Bulgari has expanded its production facility in Valenza, Italy, making it the largest single-brand jewellery manufacturing site globally. The site, operated under LVMH ownership, now covers more than 355,000 square feet and is expected to create 500 additional jobs by 2029. The development consolidates production and introduces expanded training capabilities. Increased Manufacturing Capacity and Workforce Growth Since opening in 2017, Bulgari’s Valenza site has grown from 14,000 square meters to more than 33,000 square meters following the addition of two new buildings. Employee numbers have increased from 370 to over 1,100, with a target of 1,600 to 1,700 workers by…

India’s gem and jewellery exports for the financial year April 2024 to March 2025 totalled US$28.50 billion (₹2,41,089.50 crore), reflecting an 11.72% decline year-on-year in US dollar terms, according to provisional figures released by the Gem & Jewellery Export Promotion Council (GJEPC). Imports over the same period fell by 11.96% to US$19.61 billion (₹1,65,819.35 crore). For March 2025, exports showed a slight increase of 1.02% year-on-year to US$2.58 billion, while imports decreased by 7.2% to US$1.94 billion. Cut and Polished Diamonds Exports of cut and polished diamonds totalled US$13.29 billion (₹1,12,410.58 crore) for FY 2024–25, representing a 16.75% year-on-year decline.…