Author: Ruchi Singla

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 Leadership Jacques 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,…

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 Development The 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…

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…

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 Display This 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…

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 Implications The 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…

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…

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 Boost Helen 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…

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…

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 Trends Sergey 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.…

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 Sales De 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…

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 Process The 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…

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 Traction According 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…

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 Incident The burglary was carried out by a…

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 Growth The 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…

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 Impact On 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,…

India’s jewellery market, the second-largest consumer of gold globally, is undergoing significant changes as escalating gold prices influence buyer preferences. With prices surging 22% in 2024 following a 15% increase in 2023, many consumers are now opting for lightweight and lower-carat gold jewellery to accommodate their budgets. Lightweight Jewellery in High Demand Traditional jewellery remains popular in India, especially during significant occasions such as weddings. However, jewellers report a rising preference for lightweight designs that preserve traditional aesthetics while being more cost-effective. “Most Indian buyers prefer traditional jewellery, but now they want it crafted in lightweight designs to fit their…

Gemfields, a prominent coloured gemstone miner, has raised concerns about the safety of its employees and operations at the Montepuez ruby mine in Mozambique. The unrest follows a contentious October election, upheld by the Mozambican Constitutional Council earlier this week, which has heightened instability in the region. The mine, located in Cabo Delgado province, is one of Gemfields’ main assets in the country, alongside its Megaruma, Campos De Joia, and Eastern Ruby Mining deposits. Security Concerns and Impact on Local Communities Gemfields has reported that groups exploiting the political instability have targeted nearby areas with arson, vandalism, and other disruptive…

The Antwerp World Diamond Centre (AWDC) has responded firmly to allegations published by the Belgian newspaper De Tijd, which questioned the diamond industry’s commitment to anti-money laundering (AML) measures. The claims stem from an investigation involving a Ukrainian-French jewellery business owner connected to Antwerp’s Diamond Club. Criminal Investigation Sparks Controversy The investigation focuses on a 43-year-old Ukrainian-French woman, named as Iryna G, who faces allegations of money laundering in connection with supplying food to Ukraine’s military. Authorities in Ukraine reportedly uncovered over €4.7 million in suspicious cash as part of the inquiry. While the case primarily concerns Iryna G and…

Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), addressed the opening session of the 2024 Global Gems and Jewellery Development Conference in Hainan, China, on 19 December, putting forward an argument that conflicts within the industry, particularly concerning laboratory-grown diamonds, have weakened consumer confidence in jewellery. “The items we sell do not necessarily have inherent value – such is the nature of luxury products,” he said. “They have perceived value, created by the brands, and through cultural and historic associations. If the consumer loses confidence in our products, then their value is discounted.” Laboratory-Grown Diamonds and Market Challenges Dr.…

Lucara Diamond Corp. has announced the names of two extraordinary rough diamonds recently unearthed from its Karowe Mine in Botswana. The larger of the two, a 2,488-carat diamond recovered in August 2024, has been named Motswedi, meaning “water spring” in Setswana. Remarkably, this diamond is the second-largest ever discovered, marking a significant milestone for the mine and the diamond industry. The second diamond, weighing 1,094 carats and recovered in September 2024, has been named Seriti, which translates to “aura” or “presence” in Setswana, reflecting cultural ties to identity and legacy in Botswana. Both names were chosen through a national competition,…

Swarovski has announced the launch of Recreated Crystals, developed with a focus on sustainability and circular design principles. The crystals are made by remelting material from Swarovski’s own crystal production process, creating new colours while maintaining a quality comparable to the original. According to the company, this production method uses 40% fewer natural resources than standard crystal manufacturing and reduces the environmental footprint by at least 34%. Incorporation into Collections Recreated Crystals are available for Swarovski’s business-to-business partners and are also being introduced in consumer collections. For the autumn and winter 2024 season, the Ice Blue shade is featured in…

Tiffany & Co. has acquired an 18-karat gold pocket watch tied to the Titanic disaster for $2 million, adding to its collection of historically significant items. This acquisition, made at an auction hosted by Henry Aldridge & Son Ltd., sets a record as the highest price ever paid for a piece of Titanic memorabilia. The pocket watch, originally gifted to Captain Arthur H. Rostron of the RMS Carpathia, commemorates his heroic actions in rescuing more than 700 Titanic survivors on April 15, 1912. A Tribute to Titanic Heroism The timepiece was commissioned by three prominent Titanic survivors—Madeleine Talmage Astor, Marian…

The UK retail industry has shed 225,000 jobs over the past five years, according to the Office for National Statistics (ONS). Data for September 2024 shows 2.81 million retail jobs, indicating ongoing challenges and structural changes in the sector. Sector Transformation and Employment Shifts The British Retail Consortium (BRC) pointed to structural shifts within the retail industry as a significant factor in the job reductions. Helen Dickinson, CEO of the BRC, stated: “Despite a further fall in the number of retail jobs, the industry remains the largest private sector employer providing approximately 2.9 million jobs in the UK, with another…

Only Natural Diamonds has announced the publication of The History of Diamond Engagement Rings: A True Romance, a new book by jewellery historian and founder of The Adventurine, Marion Fasel. Published as a limited-edition hardcover, the book examines the history of diamond engagement rings and their evolution from the 15th century to modern times. Historical Insight and Design Evolution Fasel’s research explores the origins of diamond engagement rings, addressing misconceptions such as their association with the 1947 De Beers campaign or the 1477 engagement of Mary of Burgundy. She highlights evidence from Renaissance artwork and historic manuscripts that trace the…

The Goldsmiths’ Centre has introduced updates to its Jewellery Foundation Programme for 2025/26, supported by jeweller Stephen Webster MBE, jewellery blogger A Thousand Facets, and the Goldsmiths’ Craft & Design Council (GC&DC). Since 2012, the programme has trained over 100 participants in foundational jewellery and silversmithing skills. The recent updates reflect changes in educational requirements and aim to support the development of future industry professionals. Free Training for Aspiring Jewellers The Jewellery Foundation Programme is a ten-month, free training course for individuals aged 18 and over, focusing on traditional and contemporary jewellery-making techniques. Participants gain practical experience and receive feedback…

The European Commission has approved an €81 million State aid measure from Spain to support the establishment of a factory for the production of semiconductor-grade synthetic diamonds in Trujillo, Extremadura. Led by Diamond Foundry Europe, this project aims to align with EU objectives in regional development, job creation, and the transition to a more sustainable economy. Project Overview The new facility will produce synthetic diamond wafers using plasma reactor technology. These wafers are intended for use in the semiconductor industry as an alternative to silicon, particularly in key sectors such as 5G communications and electric vehicles. The factory’s production capacity…

The London Diamond Bourse (LDB) and De Beers Group recently hosted a collaborative event in London to discuss the diamond sector’s contribution to the global supply chain, ethical sourcing, and consumer engagement. Bringing together over 150 participants, including industry professionals, diplomats, and representatives from major UK jewellery retailers, the event aimed to address key developments and challenges shaping the diamond trade. Keynote Speakers and Global Collaboration Speakers included members of De Beers’ Executive team, representatives from the embassies of Angola, Botswana, Sierra Leone, and South Africa, as well as the Managing Director of the Boston Consulting Group. LDB President David…

China has announced the discovery of a significant gold deposit in Pingjiang County, Hunan Province. Valued at approximately $83 billion at current prices, the deposit is estimated to contain over 1,000 tonnes of gold, marking a notable development for the global and domestic gold mining sectors. Details of the Discovery The deposit was identified by experts from the Geological Bureau of Hunan Province, who located more than 40 new gold veins less than 2,000 metres underground. These veins alone are projected to yield 300 tonnes of gold. Additionally, reserves extending down to 3,000 metres increase the estimated total yield to…

The United States and the United Kingdom have imposed sanctions on 28 individuals and entities linked to a global gold-smuggling and money-laundering network allegedly led by Kamlesh Pattni. The operation, centred in Zimbabwe, is accused of exploiting the country’s gold and diamond resources through bribery, fraudulent reporting, and a network of companies used to conceal these activities. Pattni, a Kenyan businessman and UK citizen, became known in the 1990s for his alleged involvement in Kenya’s Goldenberg scandal. Following accusations of fraudulent gold trading, Pattni moved to Zimbabwe, where he is said to have continued developing a network facilitating the smuggling…

Spring Fair has announced a collaboration with the Association for Cultural Enterprises (ACE) to better address the needs of cultural, heritage, and destination buyers. This partnership will introduce a dedicated Cultural Enterprise Day on Tuesday, 4 February 2025, during the Spring Fair event held at the Birmingham NEC from 2–5 February. Catering to Cultural Enterprises The partnership introduces a tailored programme for cultural enterprise buyers, incorporating contributions from 45 new cultural enterprise organisations. The Cultural Enterprise Day will feature curated guided tours, supplier lists provided by ACE, complimentary goody bags, and consultancy sessions in the Buyer’s Lounge. Attendees will also…