Author: Ruchi Singla

The World Jewellery Confederation (CIBJO) has submitted its biennial report to the United Nations Global Compact, detailing its programmes and activities from September 2022 to September 2024. This submission is part of CIBJO’s ongoing commitment to the UN’s corporate sustainability initiative, which focuses on promoting responsible business practices globally.Key Programmes and InitiativesCIBJO’s recent efforts included educational events, development of business guidelines, and promoting collective action within the jewellery sector. Key initiatives were:Focus on Environmental, Social, and Governance (ESG) StandardsCIBJO’s Sustainable Commission released a report in August 2023 clarifying differences between CSR and ESG frameworks. The report noted the increasing relevance of…

Banff-based silversmithing and jewellery school, Vanilla Ink The Smiddy, has announced the completion of a bespoke quaich, commissioned as a commemorative gift to the Argentine Ambassador.The piece was created as part of the bicentennial celebrations of General José de San Martín’s visit to Banff in 1824. The commission came from the Friends of Duff House, an organisation dedicated to preserving the historic site.Historical Significance of General San MartínGeneral San Martín is revered as a national hero in Argentina, celebrated for his role in the liberation of Argentina, Chile, and Peru. His visit to Banff in 1824, following military campaigns in…

Cooksongold has launched a new Laser Cutting service aimed at providing jewellers with improved precision and design customisation options. Officially available from 27 August 2024, the service allows users to create detailed and personalised pieces from a selection of eight precious metals, including gold, silver, and platinum.Precision and CustomisationThe laser cutting technology employed by Cooksongold aims to provides jeweller with a higher level of accuracy and detail that can be challenging with traditional methods, supporting a variety of designs including personalised names, words, and shapes and allowing jewellers to produce detailed pieces such as name tags or design blanks.Four-Step Design ProcessJewellers…

Lucara Diamond Corp. has announced the recovery of an exceptional 2,492 carat rough diamond from its Karowe Diamond Mine in Botswana. The stone is believed to be the second-largest diamond ever found and the biggest discovered in more than a century.The discovery was made using Lucara’s Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology, which was introduced in 2017 to detect and preserve large, high-value diamonds.The newly discovered diamond, which remains unnamed, is the largest found since the famous 3,106-carat Cullinan diamond in 1905. Officials have not yet determined the value of the 2,492-carat stone, as its price will depend…

Danish jewellery giant Pandora is predicting a major transformation in the diamond market over the next decade. CEO Alexander Lacik has forecasted that lab-grown diamonds will surpass mined diamonds in popularity, marking a significant shift in consumer preferences. This prediction follows Pandora’s 2021 shift to lab-grown diamonds, which the company cited as a response to changing consumer preferences.Technological Advancements and Consumer DemandIn a recent interview with Bloomberg TV, Lacik explained how rapid technological advancements are making lab-grown diamonds more accessible and affordable. He noted, “Ten years on, my prediction is the vast majority of diamonds being sold are going to be lab-grown.…

Toyota has launched the C-HR Diamond Collection, a collaboration with Australian jewellery designer Millie Savage. The campaign, developed by marketing agency HERO, involves the creation of 13 lab-grown diamonds from components of Toyota’s new C-HR vehicle. The Concept: Transforming Car Parts into DiamondsThe C-HR Diamond Collection draws inspiration from the angular lines of a diamond, aiming to reflect the design of the Toyota C-HR. Car parts from the C-HR were subjected to a high-pressure, high-temperature (HPHT) process to create lab-grown diamonds.Shane Geffen, Executive Creative Director at HERO, noted that the process of turning vehicle components into diamonds was challenging, “but a testament…

UK diamond explorer Botswana Diamonds (BOD), has launched an artificial intelligence (AI) initiative to expedite its exploration efforts in Botswana. The company is using AI technology to analyse its mineral database, which is the second-largest diamond exploration database in the country. The first results are expected in four to six weeks.Collaboration with AI and Geoscience ExpertsBOD’s AI initiative involves the use of Xplore mineral prospectivity technology, developed in collaboration with International Geoscience Services Limited and Planetary AI Ltd. The AI system processes large datasets in a manner akin to a geologist but at a much faster rate and with enhanced accuracy.…

Stirling-based jeweller, Lily Blanche, has been shortlisted for the Growth Business of the Year Award at the upcoming Women’s Enterprise Scotland (WES) Awards 2024. Managing Director Gillian Crawford commented on the nomination, stating: “We are thrilled to be nominated as Growth Business of the Year in the WES Awards – it’s a tremendous honour for our team.” Crawford noted that the company has achieved a 40% year-on-year growth, attributing this to their scaling efforts. “The award is testament to the incredible work they have done,” she added, referencing the contributions of the entire team and the support from the Scottish business community.The…

Botswana’s success at the Paris 2024 Olympics was recognised by Debswana, which hosted a ceremony to honour the athletes and coaches who represented the country. The event highlighted sprinter Letsile Tebogo, Botswana’s first-ever Olympic gold medallist, and was organised in partnership with De Beers Global Sightholder Sales (DBGSS) and Diamond Trading Company Botswana (DTCB).Diamond Rewards for Tebogo and Team BotswanaTebogo, who won gold in the men’s 200 metres with a time of 19.46 seconds, was presented with a polished diamond and a cash reward of P60,000 ($4,400) by Debswana. His fellow athletes and their technical team members were also recognised…

The Great Northern Contemporary Craft Fair (GNCCF), a key event in the UK’s contemporary craft calendar, is set to take place once again at Manchester’s iconic Victoria Baths from 18-20 October 2024. The fair, now in its 17th year, will feature over 200 designers, artists, and makers from across the country, showcasing handcrafted items ranging from ceramics to jewellery.A Platform for Established and Emerging MakersThe GNCCF is recognised as an important event for contemporary crafts, showcasing both established and emerging talent. Jewellers such as Lois Lo and Hiumin Zhang will be part of the new graduates’ lineup, presenting recent developments in…

Ireland-based Karelian Diamond Resources has taken a significant step towards establishing the European Union’s first diamond mine in the Kuopio-Kaavi region of eastern Finland. The Lahtojoki diamond deposit, known for its percentage of pink and colourless gem diamonds, has been the subject of legal and procedural delays, but a recent Finnish Land Court decision brings the project closer to realisation.Court Ruling Resolves Land DisputeThe development of the Lahtojoki mine has been contingent on settling disputes with local landowners over compensation and boundary adjustments. Following appeals from two landowners, the Finnish Land Court upheld the original decision, which had been facilitated by…

Lusix, a prominent producer of laboratory-grown diamonds based in Israel, has filed for a stay of proceedings under the country’s new Insolvency Law. The company, which was founded by Israeli entrepreneur Benny Landa, faces approximately $28 million in debts. This legal action is intended to protect the company from creditors while it works on finalising a merger with another Israeli company.Financial Struggles and Proposed MergerLusix, founded in 2016, is seeking a six-week extension from the courts to finalise a merger with an unnamed Israeli company. The merger would facilitate a capital injection of $22 million from existing shareholders. Without this funding,…

Missoma has expanded its physical retail presence with the opening of a new flagship store in Leeds, its first permanent location outside of London. This follows the brand’s brick-and-mortar debut in Covent Garden in 2023 and is part of its broader strategy to grow beyond the capital. Located in the Victoria Leeds shopping district, the new store reflects Missoma’s continued regional expansion.Store Features and DesignThe 2,250-square-foot Leeds store spans two floors and is located in the County Arcade within Victoria Quarter. Designed under the direction of founder and creative director Marisa Hordern, the space incorporates earthy tones, a mirrored ceiling, and…

The collapse of diamond brand Vashi, which left over £170 million in unpaid debts and missing assets, has led to increasing calls for a formal investigation. Investors and creditors are urging the Serious Fraud Office (SFO) to probe the company’s financial mismanagement, as questions remain about the whereabouts of its founder, Vashi Domínguez, and the missing stock of diamonds. Despite the SFO being provided with evidence, no official inquiry has been confirmed, adding to the frustration of those affected by the collapse.Investors Demand AnswersVashi, once seen as a rising star in the industry, attracted considerable investment from prominent figures, including John Caudwell,…

Social media influencer Gstaad Guy, known for his humorous takes on the ultra-wealthy, has launched a new jewellery line called Poubel, which officially debuted on 16 August. The collection features customisable modular chain-link bracelets and necklaces, designed to appeal to his affluent following. The line is made from recyclable sterling silver and features hand-painted enamel charms, aligning with Gstaad Guy’s distinct style.A Unique Take on CharmsThe Poubel collection embeds charms directly into modular links, avoiding the typical sound of traditional charms and providing a sleeker design. Speaking on the design, Gstaad Guy explained, “There are no [clinking] sounds – it’s more…

Botswana’s diamond manufacturing industry is facing concerns related to workers’ rights, with the Botswana Diamond Workers Union (BDWU) raising issues around the treatment of workers in the cutting and polishing sector and claiming incidents of non-compliance with labour standards. These include the dismissal of workers for joining unions, low wages, and health and safety concerns.Union Raises Concerns Over Labour PracticesThe BDWU, an affiliate of IndustriALL, has brought attention to several practices within Botswana’s diamond supply chain, particularly in the employment of migrant workers. The union asserts that certain companies are not fully adhering to labour laws, citing low wages and…

Russian diamond mining giant Alrosa has reported a significant drop in sales and profits for the first half of 2024, reflecting the impact of international sanctions and a weakening global diamond market. The state-controlled company, which has faced increasing restrictions due to the ongoing conflict between Russia and Ukraine, saw a 5% year-on-year revenue decline to RUB 179.47 billion ($2.01 billion). Net profit for the same period plunged 34% to RUB 36.63 billion ($411.4 million).Impact of Sanctions on AlrosaSince the Russian invasion of Ukraine in February 2022, Alrosa has been subjected to severe sanctions imposed by Western nations, including the United…

The government of Botswana is in negotiations to increase its ownership in Belgian diamond manufacturer HB Antwerp, aiming to nearly double its stake from 24% to 49.9% at no extra cost. This decision follows the weakened diamond market, which has lowered HB Antwerp’s valuation and allowed Botswana to renegotiate its investment terms.Leveraging Market Conditions for Greater ControlIn his address to parliament, Botswana’s Minister of Minerals and Energy, Lefoko Moagi, confirmed the government’s intention to renegotiate the deal, originally agreed upon in March 2023. The initial agreement involved Botswana acquiring a 24% stake in HB Antwerp for 890 million pula (approximately $65.95…

Diamonds Factory has expanded its European operations by opening a new store in Munich, Germany, following hot on the heels of its Berlin boutique opening.The Munich store is situated in the heart of the city’s old town and operates six days a week, from Monday to Saturday, between 10 am and 7 pm.Rapid GrowthThe Munich store adds to Diamonds Factory’s growing network in Ireland, France, Germany, and the UK, as part of its European expansionIn addition to its European growth, Diamonds Factory’s parent company, Neve Jewels Group, has also been expanding its UK presence. The group has recently opened its…

The Responsible Jewellery Council (RJC) has issued a final call for contributions and feedback to the draft Laboratory Grown Materials Standard (LGMS), with the deadline set for 25th August 2024. The standard aims to establish guidelines for responsible business practices standard for laboratory-grown materials.Background on the LGMSFirst introduced in 2021, the development of the RJC’s LGMS has included two rounds of public consultation. The standard is being developed in accordance with ISEAL’s standard-setting code, ensuring transparency and inclusivity in the process. A multi-stakeholder Standards Committee has been engaged to provide diverse input and expertise, with the aim of setting best practices for…

Pandora, the world’s largest jewellery maker, has raised its full-year organic growth forecast for 2024, following strong sales in the second quarter and positive performance in its lab-grown diamond category. The Danish jeweller now expects growth of between 9% and 12%, up from its previous guidance of 8% to 10%, as a result of its transformation strategy.Q2 Performance and Key MetricsFor the second quarter ending 30 June, Pandora reported a 15% year-on-year increase in sales on both an organic and reported basis, bringing in DKK 6.77 billion ($990.9 million). Operating profit rose to DKK 1.34 billion ($196.25 million), up from DKK…

The Gemological Institute of America (GIA) has recently examined two diamonds featuring rare star-shaped inclusions. Weighing 8.14 and 8.57 carats respectively, these diamonds, referred to as asteriated or “star” diamonds, were highlighted in the summer 2024 edition of Gems & Gemology. The discovery is notable for both the size of the stones and their preserved natural forms, providing insights into the geological history of diamond formation.Asteriated Diamonds: Composition and FeaturesBoth diamonds displayed light brown cloud inclusions, a phenomenon caused by high concentrations of hydrogen and nickel during the diamond growth process. Inclusions of this type, which may also contain graphite, are rare…

Nivoda has announced a major expansion of its gemstone inventory, now featuring more than 80,000 gemstones across 25 varieties. The available gemstones include rubies, emeralds, sapphires, aquamarines, tourmalines, and tanzanites sourced from global suppliers.Ensuring Quality in a Non-Standardised MarketGemstones, unlike diamonds, often lack a standard certification system, which can make quality assurance challenging. Nivoda has implemented processes to control quality. Certified gemstones are available on its platform, while non-certified stones undergo supplier vetting to ensure authenticity.The company’s network of suppliers spans multiple regions, including India, Europe, the UK, the US, Australia, and Thailand. According to Nivoda, this broad supplier base allows…

The British Hallmarking Council (BHC) is continuing its efforts to enhance hallmarking awareness and enforcement across the UK jewellery sector through its initiatives, the HALO (Hallmarking Awareness and Learning Online) Award and the Touchstone Award.HALO Award: Encouraging Consumer EducationLaunched in 2021, the HALO Award is now in its third year and remains a significant initiative within the industry. The award encourages online jewellers to accurately describe their products and to highlight the importance of hallmarking to customers, especially when purchasing from unfamiliar sources. Hallmarks play a crucial role in ensuring the authenticity and quality of precious metal items, particularly as…

UK-headquartered diamond certification and authentication laboratory Solitaire Gemmological Laboratories (SGL) has launched an online platform designed for retailers to purchase pre-certified diamonds. This new marketplace, accessible through the dedicated website www.SGLcertified.com, aims to reshape the diamond purchasing landscape by offering guaranteed grade diamonds and a streamlined buying process.A New Model in Diamond PurchasingThe SGL-certified platform offers diamonds ranging from 0.08 carats to 0.39 carats, each accompanied by a laser inscription and a dossier report. The key selling point of this marketplace is the grade guarantee provided by SGL, with a 14-day claim window that allows retailers to return diamonds in case of…

This year’s Vicenzaoro September promises to provide fresh new insights into the future of jewellery design and luxury consumption.Organised by the Italian Exhibition Group (IEG), this year’s event runs from 6th to 10th September at the Vicenza Expo Centre. Two key presentations by Trendvision Jewellery + Forecasting, IEG’s independent observatory led by Paola De Luca, will focus on the trends expected to influence the industry in the coming years.Autumn-Winter 2024-25 Jewellery TrendsAs the jewellery industry prepares for the Autumn-Winter 2024-25 season, Trendvision Jewellery + Forecasting has identified four key trends to guide designers and manufacturers:Looking Ahead: Trendbook 2026+In addition to…

India’s Enforcement Directorate (ED) is currently investigating a widespread money laundering scheme that exploits the trade of lab-created diamonds. This complex operation, involving several Indian and Hong Kong-based entities, centres around the overvaluation of synthetic diamonds, which are then used as a cover for illicit financial transactions. The investigation has significant implications for the diamond and jewellery industry, highlighting vulnerabilities that can be exploited within the supply chain.Investigation Details and Key PlayersThe ED’s investigation was triggered by intelligence shared by Hong Kong Customs following a significant operation in December 2023. During this operation, Hong Kong authorities seized large quantities of suspected synthetic diamonds,…

De Beers has announced the cancellation of its scheduled August sight, opting instead to merge this trading session with the October sight. The decision comes as the diamond industry grapples with an oversupply and significant production cuts, particularly in India.Consolidated Sight DatesThe merged sight, now scheduled to take place from 23 to 27 September, combines the previously planned Sight 7 and Sight 8, which were originally slated for 26 to 30 August and 7 to 11 October, respectively. Additionally, Sight 9 has been moved up to 4 to 8 November, with Sight 10 now set for 2 to 6 December, both rescheduled…

The Royal Mint has launched a facility designed to extract gold from electronic waste, offering a more sustainable alternative to traditional mining. Located in south Wales, the 3,700 square metre factory utilises a patented chemical process developed by Canadian clean tech company Excir to recover gold from printed circuit boards (PCBs) found in everyday electronics.Technological InnovationExcir’s technology, which operates at room temperature, allows for a more energy-efficient and cost-effective method of gold recovery. This process, scaled from laboratory to industrial level for the first time, can process up to 4,000 tonnes of PCBs annually, producing high-quality 999.9 purity gold. The recovered gold…

Diamond prices dropped in July, driven by slow retail sales and an oversupply in the Indian market. The seasonal summer slowdown also contributed to reduced sales figures.Significant Price ReductionsAccording to Rapaport’s RapNet Diamond Index (RAPI™), the index for 1-carat round, D to H, IF to VS2 diamonds fell by 7.3% in July, the steepest monthly decline for this size category since December 2008. The RAPI for 0.30-carat diamonds dropped by 8.9%, while the index for 0.50-carat diamonds decreased by 7.9%. Prices for 3-carat stones saw a reduction of 5.8%. In contrast, 1-carat round, D to H, SI diamonds saw a more…