https://www.professionaljeweller.com/
Diamond mining company De Beers Group is still benefitting from the sanctions placed upon its biggest rival. The financial gain De Beers is seeing from the war in Ukraine becomes clearer every month as it releases more data about the company’s production and revenues.
De Beers’ biggest rival internationally is Alrosa, a Russian state-owned diamond miner that has been hit hard by the sanctions placed upon it by governments like the UK and US.
https://www.theglobeandmail.com/
The biggest challenge for lab-grown diamond producers is finding and hiring enough skilled scientists and technicians to make them quickly and reliably enough in quality and quantity to meet orders
Earlier this year, Frédéric Arnault, the lanky twentysomething head of LVMH’s Tag Heuer brand and potential heir to the Paris-based luxury empire, presented a novelty at the Watches and Wonders fair in Geneva that would have been previously unthinkable for a company dealing in the real and rare: a 350,000-Swiss-franc ($470,000) timepiece featuring diamonds grown in a laboratory.
The glitzy little number, named the Carrera Plasma, is the most expensive product in the 160-year history of Swiss-based Tag Heuer. It boasts a 44-millimetre sandblasted aluminum case set with 48 diamonds and a rhodium-plated brass base dial covered with a single block of polycrystalline diamond.
Harare — A Zimbabwean court has barred a miner from exploring for gold on a huge Matabeleland South ranch owned by the Oppenheimer family, the super-rich former proprietors of De Beers Diamond Corporation and Anglo American.
The Oppenheimers, through their company Shangani Holistic, turned to the courts after a South African firm Pearline Mineral Exploration conducted an aerial geophysical survey of their Shangani Ranch on June 2.
https://economictimes.indiatimes.com/
Yogesh Zanzamera lays out his bed on the floor of the factory where he works and lives, one of around two million Indians polishing diamonds in an industry being hit hard by the Ukraine war.
The air reeking from the only toilet for 35-40 people, conditions at workshops like this in Gujarat state leave workers at risk of lung disease, deteriorating vision and other illnesses. But Zanzamera and others like him have other more immediate worries: the faraway war in Europe and the resulting sanctions on Russia, India’s biggest supplier of “rough” gemstones and a long-standing strategic ally.
Russia has thwarted a Western effort to have its crude diamonds labeled as “conflict diamonds”—thwarted it so effectively that the Russia-Ukraine war won’t even be discussed at a crucial meeting of diamond producers this week.
The phrase “conflict diamonds” refers to those that finance “violence by rebel movements and their allies seeking to undermine legitimate governments,” a definition outlined in its charter by the Kimberley Process, a global watchdog forum set up in 2003 to block the sales of conflict diamonds.
JOHANNESBURG – Russia, supported by Belarus, Central African Republic, Kyrgyzstan and Mali, has torpedoed a Western-backed proposal to discuss whether its diamonds are funding war ahead of an international conflict diamond meeting in Botswana, letters seen by Reuters show.
The rift in the Kimberley Process (KP), which certifies rough diamond exports, risks paralyzing the body which makes decisions by consensus. The letters, which have not been previously reported, show a dispute over a proposal by Ukraine, the European Union, Australia, Britain, Canada, and the United States to discuss Russia’s invasion of Ukraine and whether to broaden the KP’s definition of conflict diamonds to include state actors at its June 20-24 meeting in Botswana.
Amid price increases caused by the war in Russia, a shortage of stones, and young consumers’ growing interest in digital and sustainable production, the diamond industry is facing new challenges. Vrai and The Clear Cut are looking for solutions in the form of lab-created diamonds and NFT product passports.
According to Bloomberg, the prices of rough diamonds used for smaller settings have jumped about 20% since the start of March as diamond supply has stalled. The U.S. imposed sanctions in February on Russian company Alrosa PJSC, which is responsible for one-third of global diamond production alongside American De Beers and Debswana Diamond Company in Botswana.
No one would ever call the atmosphere on Antwerp’s Hoveniersstraat relaxed. Each day, millions of euros worth of diamonds pass through the export offices and exchanges that line its 300 barricaded meters, and the traders who move along its length, clutching innocuous-looking plastic bags laden with gems, tend to eye outsiders with suspicion.
But ever since the war in Ukraine began, Hoveniersstraat has been even more tense than usual. As the world’s oldest and largest hub for the trade, it—and Antwerp as a whole—has held its breath each time the European Union has announced a new set of sanctions against Russia. And now, with a sixth round imminent, traders in Belgium’s second largest city are again worried that their luck may soon run out.
https://www.northernminer.com/
When Rio Tinto’s Diavik diamond mine closes in 2025, it’s going to put a major dent in the finances of the Northwest Territories. The mine, now 100% owned by Rio Tinto after it acquired Dominion Diamond’s 40% share last year, following Dominion’s filing for insolvency protection in 2020, was Canada’s second diamond mine, with production starting in 2003.
Now, it is the first of the Northwest Territories’ three currently operating diamond mines to be scheduled for closure. Its impact — as an employer of over 1,000 workers and contractors, more than twice that of Gahcho Kué — will also be the biggest.
Almost three years ago, the National Inquiry into Missing and Murdered Indigenous Women and Girls (MMIWG) released its final report and among its findings, the report identified resource extraction as a site of gender violence.
The relationship between extraction and gender violence has been observed in extractive sites around the globe. And in Canada, this gender violence is shaped by extraction and settler colonial dispossession of Indigenous lands and livelihoods. What is it about extractive projects that creates the conditions for gender violence?
On the eve of his retirement from De Beers, Stephen Lussier reflects on a career that has spanned four decades.
Stephen Lussier was chomping at the bit as he sat on stage during a 2019 diamond conference in Dubai. Dressed in his trademark cream suit, he slid toward the edge of his seat as he waited his turn to speak, confident in his ability to unbundle everything his fellow panelist was saying to prop up lab-grown diamonds against the natural product.
“I couldn’t disagree more,” Lussier retorted, and went on to dismantle the speaker’s claim that the value of a diamond lies in its packaging — that the origin, whether mined or made, doesn’t guarantee value. Lussier weaved through key descriptors, citing the “rarity,” “preciousness” and “enduring value” that underpin the appeal of natural diamonds.
Geneva (AFP) – Diamonds shine brightly at this year’s Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss watch industry to produce more subdued designs.
Russia is a major supplier of diamonds, gold and other precious metals to the luxury watchmakers exhibiting at Watches and Wonders, one of the world’s top salons for the prestige industry. The Russian group Alrosa — the world’s largest diamond mining company — was hit by US sanctions within hours of the Kremlin-ordered invasion of Ukraine on February 24.
https://www.townandcountrymag.com/
She has Burmese Rubies and Brazilian Aquamarines; Cambridge Emeralds and Kent Amethysts; George VI Sapphires and Jordanian Turquoise. Since her accession to the throne in 1952, nearly 70 years ago, Queen Elizabeth has inherited, received, and commissioned a veritable treasure chest of magnificent jewels. But few, if any, of the gems in the Windsor vaults can quite compare to the Cullinan Diamonds.
Unearthed in a South Africa mine in 1905 and weighing 3,106 carats, the Cullinan—named after Thomas Cullinan, the chairman of the mining company—still holds the title of largest diamond ever found (if you’re keeping score, the second largest, the 1,758-carat Sewelo, was discovered in Botswana in 2019 and now belongs to Louis Vuitton).
https://www.smithsonianmag.com/
A star of London’s Crown Jewels, the Indian gem has a bloody history of colonial conquest
The diamond came from India’s alluvial mines thousands of years ago, sifted from the sand. According to Hindu belief, it was revered by gods like Krishna—even though it seemed to carry a curse, if the luck of its owners was anything to go by.
The gem, which would come to be known as the Koh-i-Noor Diamond, wove its way through Indian court intrigues before eventually ending up in the British Crown Jewels by the mid-1800s. That was when a British amateur geologist interviewed gemologists and historians on the diamond’s origins and wrote the history of the Koh-i-Noor that served as the basis for most future stories of the diamond.
NGOs supporting a ban on Russian exports to India are silent about the consequent shift of the industry to China.
New Delhi: Exports of rough diamonds from Russia’s state-owned Alrosa mines have resumed to India, although tensions remain high over such consignments.
The exports, claim those in the industry, were started to help Indian diamond traders avoid Western sanctions imposed on Vladimir Putin-led Moscow for its invasion of Ukraine. Exports were carried out through making payments in euros through German banks.
