De Beers London float loses its shine amid weak demand for natural diamond: A De Beers spokesman told The Mail on Sunday it was working on a potential listing and a sale of the business as ‘both options are very much on the table’. But Raj Ray, analyst at BMO Capital Markets, said public markets had been challenging for diamond firms. He pointed to subdued demand from China, inflation hitting consumer savings in the US and lab-grown diamonds undercutting prices.

Lucara Diamond investors are sitting on a loss of 61% if they invested five years ago: Lucara shareholders will doubtless be very grateful to see the share price up 48% in the last month. But that can't change the reality that over the longer term (five years), the returns have been really quite dismal. In fact, the share price has declined rather badly, down some 61% in that time. So we're hesitant to put much weight behind the short term increase. However, in the best case scenario (far from fait accompli), this improved performance might be sustained.

Do the Chinese come to Zimbabwe to invest or to pillage our resources? Has there been any genuine investments by the Chinese in Zimbabwe? Or are they just buccaneering pirates who have done nothing except pillaging our resources without any discernible benefit to Zimbabwe? Let us look at this supposed ‘investment’ by the Chinese, particularly in our country. China accounts for 18 percent and 15 percent of Zimbabwe’s exports and imports, respectively. In 2023, China exported US$1.41 billion worth of goods to Zimbabwe, whilst Zimbabwe’s exports to China were valued at US$1.28 billion. The main products imported from China include machinery, electronics, and vehicles – while Zimbabwe’s main exports are tobacco, nickel, diamonds, platinum, and lithium.

Is diamond production on the decline? Total output fell 8% to 111.5 million carats in 2023, according to data the Kimberley Process (KP) published in early July. That’s the lowest level on record since the organization began publishing data some 20 years ago — that is, apart from 2020 when mines had to close during Covid-19. By value, production dropped 20% to $12.73 billion as the average price declined 14% to $114 per carat. The biggest contributors to the decline were Russia, South Africa and the Democratic Republic of the Congo (DRC). Russia’s diamond output fell 11%, or by 4.6 million carats, although it ranked as the top producer by volume and value. South Africa’s production was 3.8 million carats below 2022 levels, and the DRC — which recovers low-value rough — fell by 2.4 million carats.

De Beers Group announces readiness for stricter G7 diamond import regulations: The new regulations now apply to diamonds weighing 0.5 carats and above, lowering the previous threshold of 1 carat. De Beers welcomes the G7's collaborative approach with the diamond industry and producing countries, especially its extension of the sunrise period and its focus on achieving robust traceability. Additionally, the inclusion of provisions for "grandfathered" diamonds—those purchased before the Russian supply restrictions—has been seen as a practical solution.

Kamikaze marketing - : how the natural diamond industry could have reacted to the lab-grown threat: Years ago, I noticed a plaque hanging on the wall in a private equity group in Mayfair that read: “The Roman Empire wasn’t built by holding committee meetings; it was built by annihilating the opposition”. Success in business today often depends on aggressive strategies, rather than cautious consensus; nowhere is this truer than in the diamond industry. De Beers almost entirely funds the Natural Diamond Council whose mission is to protect and promote natural diamonds, but too many in the industry do nothing. Without industry support, the day may come when De Beers starts differentiating its diamonds from everyone else’s, at which point those who didn’t step up will wish they had done more. De Beers wasn’t in anyway responsible for the growth in LGDs; in fact without its investment into developing the technology which could tell the difference between a natural diamond and a LGD, the natural diamond industry as we know it might not exist today.

Luxury slump leads some Swiss watchmakers to seek state aid: Swiss luxury watchmakers are turning to the government for financial aid to help them weather a downturn in demand. Girard-Perregaux and Ulysse Nardin have become the first brands to confirm they’re using a state program to retain jobs and avoid permanent cuts. Sowind Group, which owns the two manufacturers, has put about 50, or 15%, of its 320 workers on so-called short-time work or furlough, according to Chairman and Chief Executive Officer Patrick Pruniaux.

Third pre-CIBJO Congress 2024 Special Report released, reviews performance of precious metals in 2023-2024: The third of the pre-congress Special Reports has been released. Prepared by the CIBJO Precious Metals Commission, headed by Vaishali Banerjee, the report provides a detailed overview of the gold, platinum, palladium and silver markets during 2023 and much of 2024.

Chicago Responsible Jewelry Conference: A call for transformation: The 2024 CRJC served as a powerful reminder that the jewelry industry has a responsibility to ensure ethical and sustainable practices throughout its supply chain. It showcased a multitude of pathways towards a more just and equitable future, demonstrating that change is not only possible but imperative. As conference co-producer Andrea Hill stated, “These conversations can start here, but we must see them grow throughout the broader jewelry industry.” The CRJC 2024 has planted the seeds for that growth; now it is up to the entire industry to nurture them into reality