Manufacturers
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Mar- 2025 -20 March
Government to review British Hallmarking Council
The UK government has announced that it will commence a review into the British Hallmarking Council (BHC) which will look at the role, remit and governance of the BHC, including options to merge, abolish or reform it. The BHC is an executive, non-departmental public body sponsored by the Department for…
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20 March
Andre Michael launches crushed gem jewellery range
Hatton Garden-based supplier Andre Michael has launched the “Crushed Collection”, comprising rings and pendants featuring crushed natural coloured gemstones and diamonds. The “white-label” jewellery, set in 18- or 9-carat white or yellow gold, is offered to UK and Irish retailers alongside access to an extensive package of images which they…
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Feb- 2025 -25 February
Republic of Botswana and De Beers Group confirm diamond partnership
The Government of the Republic of Botswana and De Beers Group have announced that the two partners have now signed the formal new agreements for the 50:50 Debswana mining joint venture. The parties have agreed a 10-year Sales Agreement, which may be extended by a further five years, and a…
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24 February
De Beers launches DiamondProof in stores
De Beers has announced the launch of its diamond verification device, DiamondProof, in select retail stores. The device, which can distinguish natural diamonds from non-natural diamonds, will also be available in a number of independent retail outlets. The first DiamondProof prototype instrument was unveiled at the JCK show in Las…
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21 February
De Beers revenues plummet 23% in FY24
De Beers has reported a 23% reduction in total revenues to $3.3bn (£2.61bn) year-on-year, primarily due to a 25% reduction in rough diamond sales to $2.7 billion (£2.13bn). The consequential impact of lower sales volumes, a lower average price index and higher unit costs resulted in an underlying EBITDA of…
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19 February
Céline Assimon steps down as De Beers CEO
De Beers CEO Céline Assimon has stepped down from her role after nearly five years. Assimon joined De Beers in September 2020 and succeeded former CEO François Delage. A year later,she was appointed as the head of both De Beers Jewellers and De Beers Forevermark. Prior to joining De Beers,…
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17 February
Richard Duffy steps down as Petra Diamonds CEO
Petra Diamonds has announced that Richard Duffy has resigned as CEO and director of the company by mutual agreement and with immediate effect. Vivek Gadodia and Juan Kemp have been appointed as joint interim chief executive officers. Gadodia will have responsibility for all group corporate matters and Kemp will have…
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14 February
January diamond prices drop in slow market
The diamond market was slow in January, with mixed reports about holiday sales, according to Rapaport’s RapNet Diamond Index. Diamond prices declined, with some improvement in 0.30- to 0.50-carat, and 1 carat diamonds — reflecting round D to F, IF to VVS2 goods, which saw a 0.4%, 0.6% and 2.3%…
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11 February
De Beers lowers production guidance amid challenging trading conditions
De Beers Group has lowered its production guidance for 2025 to 20–23 million carats (previously 30-33 million carats), reflecting the challenging rough diamond trading conditions. Although rough diamond sightholder sales for the quarter improved to 4.6-million carats for $543m (£437.1m) in revenue, compared with the 2.8-million carats sold for $230m…
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4 February
De Beers and Botswana secure rough diamond sales agreement
The Government of the Republic of Botswana (GRB) and De Beers Group have agreed a deal establishing a new sales agreement for Debswana’s rough diamond production. Alongside this, the deal has extended Debswana’s mining licences in the country beyond 2029. This development is in alignment with the heads of terms…
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