DIAMOND GEMS WEEKLY

Artist Reena Ahluwalia presented Diamond Trails at the CIBJO Congress in Vicenza, a project pairing original artworks with short stories about the diamond industry by Avi Krawitz, Sonia Esther Soltani, Grant Mobley and Shanoo. The project aims to bring a more human and creative perspective to diamonds and the lives they touch. Ahluwalia and Krawitz discussed the initiative at VicenzaOro, including the role of storytelling in strengthening the industry’s connection with cons

Sometimes weeks feel like months in the diamond industry. We have been talking about the CIBJO Congress for some time already, and the trade body’s proposed move to make “synthetic” the sole descriptive term for diamonds created in a process other than mining. Well, the group approved the change. It will replace “laboratory-grown” and “laboratory-created” with “synthetic” in its Blue Books for Diamonds and Colored Gemstones.... Read the full September 14 edition of the Pres

An interesting idea was floated at the World Jewellery Confederation (CIBJO) Congress, which marked the organization’s centenary. In his keynote address, Martin Rapaport, chairman of the Rapaport Group, urged the industry to focus its marketing on “selling expensive diamonds to rich people who want to spend money.” He has made that call before. Some may interpret it as a suggestion that the industry should ignore the rest of the market, including the middle-income segment,

India’s Rough Trade Push ​ India passed legislation providing a 15-year income tax exemption for eligible foreign mining companies, sightholders, brokers, aggregators and tender or auction operators selling rough diamonds through the country’s Special Notified Zones (SNZs). The exemption applies from October 1, 2026 through March 31, 2041. India is seeking to establish itself as a global rough trading hub. As the new legislation was passed, a Namibian government delegation

Solitaire International: The diamond and jewelry industry is facing two policy battles in Washington that could shape the market for years to come: restoring zero tariffs on imports to the US and establishing clearer terminology for laboratory-grown diamonds. Tariff exemptions have returned for natural diamonds from Europe and for several diamond-producing countries, but India, Canada, China, Israel, the UAE and other key trading partners remain subject to duties. The outco

It’s been a relatively quiet period, with many dealers in Antwerp, Israel and New York taking vacation over the summer. That also applies to the news flow, which has been rather sparse as earnings season winds down. For me, the highlight of the coming week will be the CIBJO Congress at the Vicenza show. I always love attending Vicenza, despite feeling eternally underdressed there. It has not only emerged as the most important European jewelry fair, but is arguably the numbe

Have you been following developments in Russia vis-à-vis its diamond industry? They’re worth watching as the country pushes to expand its domestic diamond manufacturing sector. This week, Alrosa CEO Pavel Marinychev met with Russian deputy finance minister Alexey Moiseyev and Smolensk region governor Vasily Anokhin to advance the development of a domestic diamond cutting cluster in Smolensk and the Republic of Sakha (Yakutia). Marinychev discussed the same initiative with P

India made one of the most consequential moves for the global diamond industry this week, passing legislation that provides a 15-year income tax exemption for eligible foreign companies selling rough diamonds through the country’s Special Notified Zones. The change is clearly good for India. It could also prove game changing for the global diamond trade. But it did not happen in a vacuum. To understand why the legislation matters, it is necessary to look at why India has

India has passed a law providing a full income tax exemption for foreign companies trading rough diamonds through the country’s special notified zones. As we discussed in last week’s memo, when the law was proposed, the move at last brings India into the diamond trading conversation. Think of it as India’s version of beneficiation, adding value to its dominant diamond manufacturing sector. Frankly, it’s somewhat of a mystery that India has maintained such a draconian tax re

Titan Company is strengthening its position as a bellwether for India’s jewelry market, with its latest results pointing to broad-based consumer demand even as spending becomes more discerning and gold prices remain elevated. The Tata Group-owned company reported a 29% year-on-year increase in group revenue to INR 215 billion ($2.3 billion) for the fiscal first quarter ending June 30. Net profit jumped 63% to INR 18 billion ($186 million). Titan is India’s largest branded

Solitaire International: Changing consumer values could give jewelry an advantage over other luxury categories as younger buyers increasingly prioritize identity, emotional connection and self-expression over traditional markers of status. Research from McKinsey, Deloitte and De Beers suggest those shifts are already influencing jewelry purchasing, with gifting and self-purchase gaining importance and authenticity emerging as a stronger luxury attribute. But those qualities

I’m not sure if you’ve noticed, but the diamond trading centers seem to be getting more assertive in claiming their positions in the market. Over the past year, Antwerp has regained some of its lost stature through effective lobbying that helped secure exemptions from US tariffs for European-sourced diamonds. The UAE has maintained its momentum, recording record diamond trading levels in 2025, while Qatar established a diamond bourse that was welcomed last month as the newe

Is the diamond and jewelry market in recovery? In Episode 5 of The Diamond Dudes podcast, Rob Bates, Edahn Golan, and I explore some of the diamond industry's most pressing issues, including signs of an upturn in jewelry demand, the growing divide between luxury and commercial markets, the closure of major diamond mines, and the continued impact of synthetic diamonds. The discussion highlighted strong jewelry sales at the major luxury houses and improving performance among

July was a busy month for the diamond and jewelry industry from a news perspective, even if trading activity eased, as it typically does during the northern hemisphere summer period. Beneath the seasonal slowdown, however, were several consequential developments, many of them emerging from the earnings season that began in July and continues through August. See the full July 2026 News Roundup Looking at the past week, the luxury groups once again stood out, with their jew

Tariffs Return The US has reinstated a 0% import tariff on natural diamonds polished in Europe, ending the 10% duty that had been in place for the previous six months. The move follows discussions with the Belgian government and the Antwerp World Diamond Centre (AWDC), which said the exemption preserves duty-free access to one of Antwerp's largest export markets and strengthens the competitiveness of European diamond polishing. India's gem and jewelry exports to the US re

Undoubtedly, the biggest story of the week was the reinstatement of US tariffs on imports from key trading partners following the expiration of the temporary 10% global tariff regime. The new structure is more nuanced. Some countries gained exemption from import duties, others face a 10% tariff, while imports from most countries are now subject to a 12.5% rate. (See the Jeweler’s Vigilance Committee Member’s Alert and its Tariff Tracker). For the diamond industry, Botswan

On the eve of Anglo American's divestment from De Beers, a discussion has re-emerged over the company’s brand equity. How much of De Beers’ value lies in its name or intellectual property, such as A Diamond Is Forever? Is De Beers a brand, and how can its new owners best leverage that identity? It is not a new debate, but a lingering one that inevitably shines a light on the company’s retail business, now known as De Beers London. The latest discussion was sparked during

It’s been a quietly significant week in the diamond industry, with some rather astonishing announcements across the mining, trading and retail sectors. And we had a fantastically large diamond recovery to get the juices flowing. Starting with mining, we saw operations cease at two legendary diamond mines. A court filing revealed that Burgundy Diamond Mines is closing the Ekati mine in Canada after attempts to sell it failed. Annual production at Ekati peaked at around 7.4

De Beers has announced a two-year pause in operations at the Venetia mine in South Africa, its latest effort to cut costs and streamline the business amid continued weakness in the diamond market. The decision comes as Anglo American moves closer to selling its 85% stake in De Beers, raising questions about whether the suspension is connected to the sale or simply reflects the company’s need to adjust to market conditions. Both can be true. The move sends a strong message

Just as I was crossing the t's and dotting the i's on this week’s newsletter, a press release landed in my inbox announcing that De Beers is pausing operations at the Venetia mine in South Africa for two years. That changed the lead story because this is a significant development, even if it isn't entirely surprising. In fact, I argued this was a likely outcome in the Diamond Executive Report, The Value of De Beers, published in May, where I wrote: “De Beers might conside