Author: Steven Joseph

The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding with Borsa Diamanti d’Italia to facilitate commercial relationships between their members, extending its network of diamond bourse partnerships into Europe. The agreement was signed at the CIBJO Centenary Congress in Vicenza, Italy, held from 4 to 7 September 2026. Signatories were Ghanim Nasser Al-Saadi, QDE director, and Luigi Cosma, president of Borsa Diamanti d’Italia and vice president of the World Federation of Diamond Bourses. Member Introductions and Trading Events The MoU provides a framework for member introductions, cooperation and reciprocal visits. Both bourses will invite members and management to…

The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding with Borsa Diamanti d’Italia to facilitate commercial relationships between their members, extending its network of diamond bourse partnerships into Europe. The agreement was signed at the CIBJO Centenary Congress in Vicenza, Italy, held from 4 to 7 September 2026. Signatories were Ghanim Nasser Al-Saadi, QDE director, and Luigi Cosma, president of Borsa Diamanti d’Italia and vice president of the World Federation of Diamond Bourses. Member Introductions and Trading Events The MoU provides a framework for member introductions, cooperation and reciprocal visits. Both bourses will invite members and management to…

Anglo American may continue to control De Beers for up to 18 months after agreeing a sale, as the transaction could require regulatory clearance in the US, China and Europe, according to Anglo American chief executive Duncan Wanblad. Botswana, which owns 15% of De Beers, also holds pre-emption rights that could affect the timetable. Anglo is seeking to sell its 85% stake in the diamond producer as part of a restructuring announced in May 2024. The mining group is also working towards a merger with Canada’s Teck Resources to form Anglo Teck. Buyer Identity Will Determine Approvals Wanblad said the…

Anglo American may continue to control De Beers for up to 18 months after agreeing a sale, as the transaction could require regulatory clearance in the US, China and Europe, according to Anglo American chief executive Duncan Wanblad. Botswana, which owns 15% of De Beers, also holds pre-emption rights that could affect the timetable. Anglo is seeking to sell its 85% stake in the diamond producer as part of a restructuring announced in May 2024. The mining group is also working towards a merger with Canada’s Teck Resources to form Anglo Teck. Buyer Identity Will Determine Approvals Wanblad said the…

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for importing certain “grandfathered” diamonds linked to Russia until 1 September 2027. The decision gives eligible traders, manufacturers and importers an additional year to bring qualifying stock into the US. Eligibility Requirements General License No. 104B, issued on 26 August 2026, replaces General License No. 104A. It permits the import of certain non-industrial diamonds until 12.01am Eastern Daylight Time on 1 September 2027. The authorisation covers diamonds weighing 1 carat or more that were physically outside Russia before 1 March 2024. Diamonds weighing 0.5…

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for importing certain “grandfathered” diamonds linked to Russia until 1 September 2027. The decision gives eligible traders, manufacturers and importers an additional year to bring qualifying stock into the US. Eligibility Requirements General License No. 104B, issued on 26 August 2026, replaces General License No. 104A. It permits the import of certain non-industrial diamonds until 12.01am Eastern Daylight Time on 1 September 2027. The authorisation covers diamonds weighing 1 carat or more that were physically outside Russia before 1 March 2024. Diamonds weighing 0.5…

Pandora reported 3% organic revenue growth in the second quarter of 2026, with revenue reaching DKK 7.22 billion (£0.82 billion) for the three months to June 30. Like-for-like sales increased 1%, while the Danish jewellery group raised its full-year guidance for organic growth and operating margin. Performance varied by region, with Asia-Pacific and Latin America recording double-digit like-for-like growth while North America and EMEA declined. Revenue and Regional Performance Pandora’s reported revenue increased 2% year on year from DKK 7.08 billion in Q2 2025. Organic growth, which adjusts for currency and changes to the company’s network, was 3%, with 2%…

Pandora reported 3% organic revenue growth in the second quarter of 2026, with revenue reaching DKK 7.22 billion (£0.82 billion) for the three months to June 30. Like-for-like sales increased 1%, while the Danish jewellery group raised its full-year guidance for organic growth and operating margin. Performance varied by region, with Asia-Pacific and Latin America recording double-digit like-for-like growth while North America and EMEA declined. Revenue and Regional Performance Pandora’s reported revenue increased 2% year on year from DKK 7.08 billion in Q2 2025. Organic growth, which adjusts for currency and changes to the company’s network, was 3%, with 2%…

Sarine Technologies reported a 6% decline in group revenue to US$14.4 million for the six months ended 30 June 2026, as lower revenue from capital equipment and Galaxy scanning services offset growth in its newer recurring businesses. The diamond technology company said continued competition from lab-grown diamonds (LGDs), alongside lower rough natural diamond supply, remained challenging for the natural diamond manufacturing sector. However, larger and higher-quality natural diamonds, which account for a substantial share of Sarine’s recurring revenue, have been less affected by LGD competition. New Services Grow Sarine’s Most Valuable Plan (MVP), its cloud-based solution for planning and optimising…

Sarine Technologies reported a 6% decline in group revenue to US$14.4 million for the six months ended 30 June 2026, as lower revenue from capital equipment and Galaxy scanning services offset growth in its newer recurring businesses. The diamond technology company said continued competition from lab-grown diamonds (LGDs), alongside lower rough natural diamond supply, remained challenging for the natural diamond manufacturing sector. However, larger and higher-quality natural diamonds, which account for a substantial share of Sarine’s recurring revenue, have been less affected by LGD competition. New Services Grow Sarine’s Most Valuable Plan (MVP), its cloud-based solution for planning and optimising…

Russia is to establish a diamond cutting cluster spanning the Republic of Sakha (Yakutia) and the Smolensk Region, under an initiative to develop the country’s domestic diamond-cutting industry. President Vladimir Putin signed an executive order on August 6 directing the creation of the cluster. It is scheduled to begin operating under the decree from March 1, 2027. Kristall to Form the Foundation The cluster will bring together eligible legal entities and individual entrepreneurs involved in diamond cutting and polishing. The Smolensk-based Kristall cutting plant, owned by state-controlled diamond miner Alrosa, will form the foundation of the initiative alongside facilities in…

Russia is to establish a diamond cutting cluster spanning the Republic of Sakha (Yakutia) and the Smolensk Region, under an initiative to develop the country’s domestic diamond-cutting industry. President Vladimir Putin signed an executive order on August 6 directing the creation of the cluster. It is scheduled to begin operating under the decree from March 1, 2027. Kristall to Form the Foundation The cluster will bring together eligible legal entities and individual entrepreneurs involved in diamond cutting and polishing. The Smolensk-based Kristall cutting plant, owned by state-controlled diamond miner Alrosa, will form the foundation of the initiative alongside facilities in…

Russia is to establish a diamond cutting cluster spanning the Republic of Sakha (Yakutia) and the Smolensk Region, under an initiative to develop the country’s domestic diamond-cutting industry. President Vladimir Putin signed an executive order on August 6 directing the creation of the cluster. It is scheduled to begin operating under the decree from March 1, 2027. Kristall to Form the Foundation The cluster will bring together eligible legal entities and individual entrepreneurs involved in diamond cutting and polishing. The Smolensk-based Kristall cutting plant, owned by state-controlled diamond miner Alrosa, will form the foundation of the initiative alongside facilities in…

Russia is to establish a diamond cutting cluster spanning the Republic of Sakha (Yakutia) and the Smolensk Region, under an initiative to develop the country’s domestic diamond-cutting industry, scheduled to begin operating from March 1, 2027. Kristall to Form the Foundation The cluster will bring together eligible legal entities and individual entrepreneurs involved in diamond cutting and polishing. The Smolensk-based Kristall cutting plant, owned by state-controlled diamond miner Alrosa, will form the foundation of the initiative alongside facilities in Yakutia, Russia’s main diamond-producing region. Alrosa CEO Pavel Marinychev previously told Putin that participants would have access to rough diamonds “along…

Russia is to establish a diamond cutting cluster spanning the Republic of Sakha (Yakutia) and the Smolensk Region, under an initiative to develop the country’s domestic diamond-cutting industry, scheduled to begin operating from March 1, 2027. Kristall to Form the Foundation The cluster will bring together eligible legal entities and individual entrepreneurs involved in diamond cutting and polishing. The Smolensk-based Kristall cutting plant, owned by state-controlled diamond miner Alrosa, will form the foundation of the initiative alongside facilities in Yakutia, Russia’s main diamond-producing region. Alrosa CEO Pavel Marinychev previously told Putin that participants would have access to rough diamonds “along…

Lucara Diamond Corporation has sold the 2,488-carat Motswedi diamond, recovered from its Karowe mine in Botswana, but has not disclosed the buyer, transaction value or intended use of the stone. The sale was confirmed in the Canadian miner’s second-quarter results, which reported revenue of $41 million for the three months ending 30 June 2026. Sale Included in Quarterly Revenue Lucara’s quarterly revenue declined by 6% from $43.7 million in the corresponding period of 2025. The company attributed the reduction primarily to fewer carats sold through tender and lower average prices for diamonds weighing less than 10.8 carats. The $41 million…

Lucara Diamond Corporation has sold the 2,488-carat Motswedi diamond, recovered from its Karowe mine in Botswana, but has not disclosed the buyer, transaction value or intended use of the stone. The sale was confirmed in the Canadian miner’s second-quarter results, which reported revenue of $41 million for the three months ending 30 June 2026. Sale Included in Quarterly Revenue Lucara’s quarterly revenue declined by 6% from $43.7 million in the corresponding period of 2025. The company attributed the reduction primarily to fewer carats sold through tender and lower average prices for diamonds weighing less than 10.8 carats. The $41 million…

The CIBJO Coloured Stone Commission has released its fifth pre-Congress Special Report ahead of the 2026 CIBJO Congress, which will take place in Vicenza, Italy, from September 4. The report, prepared by Commission chairman Charles Abouchar, focuses on the terminology used to describe coloured gemstones and the need for language that reduces the potential for misunderstanding in the marketplace. “The ultimate goal remains protecting consumer confidence through the adoption of clear and descriptive language that transparently informs,” write Mr. Abouchar. A key issue addressed in the report is the terminology used for synthetic gemstones. The Coloured Stone Commission has decided…

The CIBJO Coloured Stone Commission has released its fifth pre-Congress Special Report ahead of the 2026 CIBJO Congress, which will take place in Vicenza, Italy, from September 4. The report, prepared by Commission chairman Charles Abouchar, focuses on the terminology used to describe coloured gemstones and the need for language that reduces the potential for misunderstanding in the marketplace. “The ultimate goal remains protecting consumer confidence through the adoption of clear and descriptive language that transparently informs,” write Mr. Abouchar. A key issue addressed in the report is the terminology used for synthetic gemstones. The Coloured Stone Commission has decided…

A ring purchased for £5 at a car boot sale has been identified as a 3.02 ct natural diamond set in 18 ct gold with an estimated value of £15,000 following an appraisal at a jewellery valuation event in Oxfordshire. The identification was made by WeBuyVintage gemologist Asha Nayak during a public valuation roadshow held at Seacourt Hall in Botley. The owner brought the ring to the event believing it to be costume jewellery, having bought it simply because she liked its appearance. Following examination, the piece was identified as a natural diamond ring with an estimated value of £15,000.…

A ring purchased for £5 at a car boot sale has been identified as a 3.02 ct natural diamond set in 18 ct gold with an estimated value of £15,000 following an appraisal at a jewellery valuation event in Oxfordshire. The identification was made by WeBuyVintage gemologist Asha Nayak during a public valuation roadshow held at Seacourt Hall in Botley. The owner brought the ring to the event believing it to be costume jewellery, having bought it simply because she liked its appearance. Following examination, the piece was identified as a natural diamond ring with an estimated value of £15,000.…

The 41st World Diamond Congress opened in Singapore on July 13, with industry leaders and government representatives from major diamond-producing countries calling for renewed efforts to build consumer demand for natural diamonds. Hosted by the Diamond Exchange of Singapore (DES), the Congress is being held in Singapore for the first time since the 24th World Diamond Congress in 1988. The 2026 event runs from July 12 to 15 and brings together representatives from across the diamond trade. Opening the Congress, Fabio Cascapera, Chair of the Congress Organising Committee and President of DES, reflected on the changes the industry has experienced…

The 41st World Diamond Congress opened in Singapore on July 13, with industry leaders and government representatives from major diamond-producing countries calling for renewed efforts to build consumer demand for natural diamonds. Hosted by the Diamond Exchange of Singapore (DES), the Congress is being held in Singapore for the first time since the 24th World Diamond Congress in 1988. The 2026 event runs from July 12 to 15 and brings together representatives from across the diamond trade. Opening the Congress, Fabio Cascapera, Chair of the Congress Organising Committee and President of DES, reflected on the changes the industry has experienced…

The CIBJO Diamond Commission has proposed that the 4Cs grading system should be used exclusively for natural diamonds and that “synthetic” should become the preferred term for diamonds produced through industrial processes. The proposal is contained in the fourth pre-Congress Special Report ahead of the 2026 CIBJO Congress, scheduled to take place in Vicenza, Italy, from September 4. The report was prepared by the Diamond Commission, headed by Udi Sheintal. Proposed Change to Terminology The report calls for CIBJO to reconsider its terminology for synthetic diamonds, with “synthetic” proposed as the preferred term rather than “laboratory-grown” or “laboratory-created”. CIBJO’s current…

The CIBJO Diamond Commission has proposed that the 4Cs grading system should be used exclusively for natural diamonds and that “synthetic” should become the preferred term for diamonds produced through industrial processes. The proposal is contained in the fourth pre-Congress Special Report ahead of the 2026 CIBJO Congress, scheduled to take place in Vicenza, Italy, from September 4. The report was prepared by the Diamond Commission, headed by Udi Sheintal. Proposed Change to Terminology The report calls for CIBJO to reconsider its terminology for synthetic diamonds, with “synthetic” proposed as the preferred term rather than “laboratory-grown” or “laboratory-created”. CIBJO’s current…

Mehul Shah, vice president of Bharat Diamond Bourse (BDB), has been elected president of the World Federation of Diamond Bourses (WFDB), following a vote held during the 41st World Diamond Congress in Singapore. The election took place on July 12, with leaders from 21 diamond bourses participating in the vote. Shah was elected in the first round from a field of three candidates. Luigi Cosma, president of Borsa Diamanti d’Italia, and Philippe Barsamian of Antwerp were elected as vice presidents. The 41st World Diamond Congress was held in Singapore from July 12 to 15, bringing together representatives from across the…

Mehul Shah, vice president of Bharat Diamond Bourse (BDB), has been elected president of the World Federation of Diamond Bourses (WFDB), following a vote held during the 41st World Diamond Congress in Singapore. The election took place on July 12, with leaders from 21 diamond bourses participating in the vote. Shah was elected in the first round from a field of three candidates. Luigi Cosma, president of Borsa Diamanti d’Italia, and Philippe Barsamian of Antwerp were elected as vice presidents. The 41st World Diamond Congress was held in Singapore from July 12 to 15, bringing together representatives from across the…

Russia retained its position as the world’s largest rough diamond producer by value in 2025, marking the third consecutive year it has led global production, according to the latest statistics released by the Kimberley Process (KP). The figures show Russia recovered 31.5 million carats of rough diamonds during the year, with a total production value of $2.72 billion and an average value of $86 per carat. Although output declined from 37.3 million carats valued at $3.34 billion in 2024, Russia remained the largest producer by value despite ongoing sanctions in the US and European Union and continued weakness in the…

Fully traceable artisanal diamonds from the Democratic Republic of the Congo (DRC) have been sold on the international market in Antwerp for the first time through the OrigemA initiative, a project involving the Antwerp World Diamond Centre (Antwerp World Diamond Centre), the Congolese government, NGO Resolve and technology partner Everledger, with financial support from the Federal Public Service Foreign Affairs. A total of 103.77 carats of rough diamonds from the Kasaï region were offered during an initial sales round in Antwerp. The stones originated from the Kamana Ndeke mine near Tshikapa and were mined by the COMIDIANZ cooperative. The sale…

Gemological Institute of America has agreed to acquire a 30% shareholding in Tracr, the diamond provenance platform developed by De Beers Group, in a move aimed at supporting the platform’s transition towards independent ownership and wider industry adoption. The agreement was announced by De Beers and GIA on 29 May. It follows a collaboration established in 2023, when eligible GIA diamond grading reports began incorporating provenance information recorded on the Tracr platform. Focus on Provenance and Traceability Tracr was launched by De Beers in 2018 as a blockchain-based platform designed to track diamonds from the point of recovery through the…