Author: Ruchi Singla

The United States will require diamond importers to declare the country of mining origin for all shipments entering the country, according to a notice from US Customs and Border Protection (CBP). This measure, intended to strengthen enforcement of sanctions on Russian goods, will take effect in April 2025.CBP outlined the requirement in a Trade User Information Notice dated January 14, 2025, which was distributed on January 23. The rule builds on existing restrictions that prohibit the import of Russian nonindustrial diamonds weighing 0.50 carats or more, in effect since September 1, 2024.Details of the New Import Declaration RuleUnder the new…

De Beers Group and the Government of Botswana have concluded negotiations on a new 10-year sales agreement for rough diamonds from Debswana, their 50:50 joint venture. The deal, which also includes an extension of Debswana’s mining licences, follows a lengthy negotiation process that began in 2019 and saw multiple extensions of the previous agreement.Key Terms of the AgreementUnder the new agreement, the Botswana government’s state-owned diamond trader, Okavango Diamond Company (ODC), will initially receive 30% of Debswana’s rough diamond production. This share will gradually increase to 50% by the end of the contract in 2035.Debswana, which operates Botswana’s major diamond mines—Jwaneng,…

The prices of fancy-colour diamonds fell by 2.2% in 2024, reflecting a slowdown in the luxury sector and broader economic challenges, according to the Fancy Color Research Foundation (FCRF). Yellow Diamonds See the Largest Price DropYellow fancy-colour diamonds saw the steepest decline, with prices dropping by 5.6% over the year. This category also accounted for all of the top five price decreases in the fourth quarter, with an overall quarterly drop of 2.2%.Among yellow diamonds, 2-carat fancy-intense stones saw the biggest decline, down 3.6% in the final quarter. Other decreases included a 3% drop in 3-carat fancy-vivid-yellow diamonds and a 2.6%…

Danish fine jewellery brand Elhanati has announced a partnership with Botswanamark, a natural diamond provenance programme, for its latest collection, Octopus Diamond Temple. The collection, which includes three handcrafted designs in 18ct yellow gold, reflects the brand’s focus on ethical sourcing and supply chain transparency.Octopus Diamond Temple CollectionThe collection includes three handcrafted pieces designed by founder Orit Elhanati, featuring motifs inspired by an underwater theme. Each piece incorporates Botswanamark diamonds, ensuring traceability.Commitment to Ethical SourcingThe collaboration with Botswanamark aligns with Elhanati’s goal of ensuring that all diamonds used in its creations are responsibly sourced. Botswanamark offers traceability for natural diamonds, enabling…

Spring Fair, the UK’s largest retail trade event, is running a Golden Ticket competition for its 2025 edition. Taking place from February 2 to February 5 at NEC Birmingham, the show will bring together home, gift, and fashion retailers and suppliers.With the event approaching, visitors who pre-register can enter a draw to win one of five Golden Ticket VIP packages, each worth £750.Golden Ticket Package DetailsThe Golden Ticket package includes:The competition closes on Thursday, January 30 at 11:59 pm.Spring Fair 2025 OverviewSpring Fair hosts over 1,200 exhibitors across 12 buying destinations, presenting over one million products. The event provides retailers…

Jemora Gemhouse, a new auction house specialising in rare and high-value polished coloured gemstones, has been unveiled in Dubai. The platform is led by Dev Shetty, whose previous experience includes the sale of the 55.22-carat “Estrela de Fura Ruby” for $35 million, as well as leadership roles at Gemfields and Fura Gems. Upcoming AuctionThe inaugural auction is scheduled for 17–19 March 2025 at the Dubai Diamond Exchange (DDE), part of the Dubai Multi Commodities Centre (DMCC). The Dubai Diamond Exchange, which supports over 1,350 companies, has hosted significant gemstone tenders in recent years.The event will focus on sapphires from key origins, including Kashmir,…

The London Diamond Bourse (LDB) recently welcomed industry professionals, GIA students, and members for a presentation by Rosamond Clayton, a leading expert in jewellery valuation, to focus on the career path of becoming a Registered Valuer through the National Association of Jewellers’ (NAJ) Institute of Registered Valuers (IRV).Rosamond Clayton’s presentation covered critical aspects of the profession, including the NAJ IRV Code of Conduct, professional codes of practice, and the steps required to join the NAJ IRV. She emphasised the role of these standards in ensuring legal compliance and supporting profitability. Aspiring valuers gained insights into the diverse skills required, from…

The British Academy of Jewellery (BAJ) remains unaffected by the administration of its parent company, Free To Learn (F2L). While F2L has ceased operations following the termination of its government-funded adult education contracts, BAJ continues to deliver its apprenticeships, diplomas, and degree programmes in jewellery design and manufacturing.The Background to F2L’s AdministrationFree To Learn was established in 2010 and grew rapidly, securing more than £20 million in public funding between 2019 and 2023 to deliver Adult Education Budget (AEB) courses. The organisation employed over 100 staff and worked on both direct contracts and subcontracted arrangements.Difficulties arose after an Ofsted inspection found…

The Rical Group, a Smethwick-based manufacturing business with nearly 200 years of history, has entered administration, placing 185 jobs at risk. The company operates across several industries, including jewellery, automotive, defence, construction, and catering, with its subsidiaries Priory Products and H.A. Light Findings serving as key suppliers to the jewellery sector. Evelyn Partners has been appointed as administrators for the group.A Legacy in ManufacturingFounded in 1824 by William Mitchell, the Rical Group began as a presswork company producing metal pen nibs. Over time, it expanded its operations to provide fine blanking, metal pressings, and component fabrication for a range of industries.Its…

Pandora has been named one of the 100 most sustainable companies in the world by Corporate Knights at the World Economic Forum in Davos, Switzerland. The annual Global 100 ranking evaluates companies with over USD 1 billion in revenue based on 25 performance indicators across sustainability, resource management, and corporate governance.Pandora, ranked 48th overall and 2nd in the “Textiles, Apparel and Luxury Goods” category, was recognised for its sustainable business practices, including its use of recycled silver, gold, and lab-grown diamonds.Environmental and Sustainability HighlightsCorporate Knights noted Pandora’s environmental efforts, including reductions in CO2 emissions and its use of renewable energy. Over…

The Company of Master Jewellers (CMJ) has reported a 6.5% year-on-year increase in group sales during the “golden quarter” from September to December 2024, underscoring strong buyer confidence among its independent retail members ahead of the festive season.A survey conducted by CMJ among its retailer members revealed that 71% experienced higher sales over Christmas compared to the same period in 2023. Stock sell-through figures in early January 2025 further confirmed a robust Christmas trading period for members.Key Role of the CMJ Autumn Trade EventThe CMJ Autumn Trade Event was instrumental in the quarter’s performance, particularly through the introduction of the…

AG Group has officially opened its in-house Assay Office at its Hertfordshire headquarters, marking a significant milestone for the business. The facility, established in partnership with the Sheffield Assay Office, will allow the group to carry out hallmarking for fine jewellery, including wedding and engagement rings, at its headquarters.The inaugural event was attended by Ashley Carson, Assay Master and Chief Executive of the Sheffield Assay Office, along with other industry representatives.A Historic First HallmarkThe first piece hallmarked at the new facility was a triple-row diamond-set band, handcrafted by Brown & Newirth for Wendy Laing, owner of Laings Jewellers. Laings is an…

India’s polished diamond export sector showed some signs of stabilisation in December 2024, according to data from the Gems and Jewellery Export Promotion Council (GJEPC). Gross polished diamond exports for the month totalled $773 million, a year-on-year decline of 10.4 per cent compared to December 2023. However, this marked an improvement from November 2024, which saw a sharp 40 per cent year-on-year drop to $660 million.Export Performance TrendsDecember’s figures indicated a partial recovery following months of volatility in 2024. In October, the sector experienced a year-on-year increase of 11.3 per cent, with export sales exceeding $1.4 billion. This was followed…

Richemont, owner of brands such as Cartier, Van Cleef & Arpels, Buccellati and Vhernier, achieved record sales in the third quarter of the financial year ending 31 December 2024. Total revenue increased by 10% year-on-year to €6.15 billion (£5.23 billion), with its jewellery division driving much of the growth. Jewellery sales rose 14% to €4.5 billion, accounting for 71% of Richemont’s total revenue.Regional Sales BreakdownWhile global performance was positive, regional trends varied. Sales in the Americas grew by 22% to €1.6 billion, supported by improved consumer confidence and luxury market performance. In Europe, revenues increased by 19% to €1.5 billion, partly driven…

The British Academy of Jewellery (BAJ) and the London Contemporary Dance School (LCDS) partnered to host an exhibition on 9 December 2023 that combined jewellery design and contemporary dance. The event, held at BAJ’s higher education campus in Camden, showcased the results of a five-week collaboration between second-year BA (Hons) jewellery students and LCDS dance students.The jewellery students designed movable pieces inspired by the theme of ‘Connection’, which were brought to life through bespoke choreography performed by the dancers. The event, sponsored by Shandy Shack and Modern Love Gin, was attended by over 100 people, who witnessed the collaborative projects…

The Gemological Institute of America (GIA) has announced that Susan Jacques will retire as president and CEO at the end of 2025. A global search for her successor is now underway, led by the executive search firm Korn Ferry.A Decade of LeadershipJacques has served as GIA’s president and CEO since January 2014, following six months as interim CEO. Her association with the organisation dates back to 1996, when she joined the GIA Board of Governors. She held the role of chair of the board from 2008 until she became CEO.Reflecting on her tenure, Jacques stated, “At GIA, I have been…

Diamond producers across Africa are reported to be supporting the adoption of the Authentia traceability platform, a technology-driven initiative designed to promote transparency and accountability in the diamond trade.The African Diamond Council (ADC), representing 18 member states, has called on G7 nations and the Kimberley Process to consider implementing the platform.Three Years in DevelopmentThe ADC has been working alongside Authentia’s developers over the past three-and-a-half years to integrate traceability into diamond trading. Authentia, introduced to miners 14 months ago, uses blockchain technology and tools such as certificates of origin, tracking systems, nano-tagging, and ownership titles to support transparency in the…

Informa Markets Jewellery has announced the return of the Sustainability Awards by Jewellery World Awards (JWA), a programme designed to spotlight sustainability leaders in the fine jewellery, gemstone, and related industries. Applications for the 2025 awards are open from 6 January to 7 April 2025, with submissions accepted through an online portal.The awards aim to highlight organisations across the jewellery industry that have achieved measurable progress in environmental, social, and governance (ESG) efforts, regardless of their size, focus, or location.“Previously known as the JNA Awards, JWA was launched by Informa Markets Jewellery in 2012 to celebrate pioneers, change-makers and exceptional business…

The Birmingham Assay Office has announced its upcoming initiative, Crafting Your Career in the Jewellery Industry, a careers day that will take place on Thursday, 27th March 2025, from 10:00am to 4:00pm. The event will include practical demonstrations, industry talks, and an overview of career opportunities in the jewellery, silversmithing, diamond, and gemstone sectors.Practical Skills on DisplayThis year’s event will place particular emphasis on practical demonstrations, offering attendees the chance to observe the craftsmanship and technical skills that define the jewellery industry. These sessions will provide attendees with opportunities to see the techniques involved in jewellery-making and learn more about the…

The Zambian government has reinstated a 15% export duty on emeralds, effective 1 January 2025, following a suspension that had been in place since 2020.The 15% export duty was initially introduced in 2019 but was suspended later that year after lobbying by the Zambian emerald sector. The suspension remained in place until its recent revocation. Gemfields stated that the duty was reintroduced without prior notice or consultation.Industry ImplicationsThe new export duty aligns with Zambia’s efforts to increase government revenue in 2025, with reports of similar measures in other sectors. This may influence the gemstone sector’s operating conditions and its appeal…

De Beers Group and the Gem & Jewellery Export Promotion Council (GJEPC), India’s leading jewellery trade body, have launched a strategic collaboration named INDRA – Indian Natural Diamond Retailer Alliance. The initiative aims to support independent retailers in India by offering advanced tools and resources including incorporating technologies such as Artificial Intelligence to help create customised retailer campaigns. It also offers retailers multi-lingual marketing materials and training resources, including detailed information on natural diamonds in local languages, to better equip them to engage with consumers.Interactive roadshows introducing the INDRA programme are set to begin in January 2025, allowing GJEPC members to enrol…

The British Retail Consortium (BRC) has reported that Christmas trading in 2024 did little to offset a difficult year for UK retailers. Non-food sales faced significant challenges, though categories such as jewellery, beauty products, and electricals saw increased sales during the festive season.Weak Sales Despite Christmas BoostHelen Dickinson OBE, Chief Executive of the BRC, highlighted that the “golden quarter” of October to December 2024 was marked by weak consumer confidence and difficult economic conditions. Non-food categories, in particular, suffered year-on-year declines, though specific product lines, including jewellery, experienced higher sales during the Christmas period.While food sales experienced slight growth, broader…

TAG Heuer has been announced as the Official Timekeeper of Formula 1, marking a return to a role it last held decades ago. The partnership coincides with Formula 1’s 75th anniversary celebrations and its ongoing collaboration with LVMH, which began in 2023.TAG Heuer’s involvement with Formula 1 dates back to 1969, when it became the first luxury brand to display its logo on a Formula 1 car. Over the years, the brand has been linked to pivotal moments in the sport’s history, including partnerships with Ferrari in the 1970s, McLaren in the 1980s and beyond, and Red Bull Racing more recently.Antoine…

Russian diamond producer Alrosa has forecasted a rebalancing of supply and demand for both rough and polished diamonds in the coming months, driven by falling midstream inventory levels. The projection, shared during a meeting with journalists, highlights potential pricing dynamics in the diamond sector.Supply Constraints and Structural Changes Drive Market TrendsSergey Takhiev, Alrosa’s head of corporate finance, stated that reduced global diamond production levels—now up to 20% lower than those recorded in 2018-2019—are influencing market dynamics. He pointed to the growth of online jewellery trade as a significant factor, enabling jewellers and retailers to lower their inventory requirements.“The growth of online…

De Beers has accumulated its largest diamond stockpile since the 2008 financial crisis, with an inventory valued at approximately $2 billion, according to a report by the Financial Times. This development reflects broader challenges in the diamond industry, including shifting market dynamics and evolving consumer preferences.Market Pressures and Declining SalesDe Beers’ chief executive, Al Cook, described 2024 as “a tough year for rough diamond sales,” citing a combination of factors contributing to decreased demand. A slowdown in China’s economy—historically a key driver of diamond consumption—has significantly impacted global sales. Additionally, the rise of lab-grown diamonds, which offer a more affordable alternative,…

A defendant involved in the theft of jewellery at the Jewellery Show London, held at ExCeL in September 2023, has been sentenced to six years and six months in prison for conspiracy to steal. The theft targeted GETi Titanium Rings while the company was exhibiting at the event, resulting in significant financial losses.Sentencing and Legal ProcessThe sentencing was handed down on 23 December 2024. Following an early guilty plea, the defendant’s sentence was reduced by 33%, in line with legal sentencing guidelines.The theft highlighted vulnerabilities faced by businesses exhibiting at trade shows, particularly those transporting and showcasing high-value items.Ongoing InvestigationsAuthorities…

Surat, India’s diamond processing hub, is experiencing a significant shift as global demand for natural diamonds slows. Renowned for processing approximately 90% of the world’s rough diamonds, the city is adapting to changing market conditions by expanding into jewellery manufacturing. This diversification reflects efforts to counteract declining diamond export figures while leveraging growing domestic and international jewellery demand.Jewellery Manufacturing Gaining TractionAccording to India’s Gem and Jewellery Export Promotion Council (GJEPC), a number of Surat’s diamond cutting and polishing units are now engaging in jewellery manufacturing. Vipul Shah, chairman of GJEPC, noted: “The units have gradually started doing job work in jewellery manufacturing.…

A high-value burglary on Avenue Road, St John’s Wood, London, has resulted in the theft of jewellery, luxury goods, and cash worth £10.4 million. The incident, which occurred on 7 December, is among the most significant home thefts reported in Britain.The victim has been identified as art collector and influencer Shafira Huang, known for sharing aspects of her lifestyle on social media. The stolen items include high-value jewellery such as a Graff 10.73-carat diamond ring, diamond and sapphire necklaces, and designs from brands including De Beers and Hermès.Details of the IncidentThe burglary was carried out by a lone suspect who…

Angola has achieved a significant milestone in its diamond industry, producing approximately 12 million carats of diamonds in 2024 – the first time the country has surpassed the 10 million carat threshold, a target outlined in the National Development Plan (NDP) 2023–2027. Reforms Drive GrowthThe achievement is attributed to legal and tax reforms introduced in recent years, which improved the business environment and increased transparency within the diamond sector. These reforms have encouraged investment and facilitated the return of companies to Angola’s diamond market.Minister Azevedo highlighted these advancements, stating, “We begin to see some trees flourish and harvest some fruits from…

Gemfields, a London-listed mining company and significant producer of coloured gemstones, has temporarily suspended operations at its Montepuez Ruby Mining (MRM) site in northern Mozambique.The suspension follows violent unrest linked to the country’s disputed national election, during which over 200 individuals associated with illegal ruby mining attempted to invade the site.Violent Incidents and Operational ImpactOn Christmas Eve, groups set fire to community buildings near Gemfields’ MRM operation. Security forces, including Mozambican police and military, responded, resulting in two fatalities, according to the company.In a related incident, a vocational training centre in the nearby village of Wikupuri, built in partnership with…