The Qatar Diamond Exchange joined CIBJO as a National Association Member, expanding its engagement from the diamond trade into the wider jewelry and gemstone sector. The move follows QDE’s admission to the WFDB and World Diamond Council, aligning the recently launched Doha exchange with key international standards and industry bodies.

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Petra Diamonds launched a strategic review to address its near-term liquidity needs, including a possible sale of its assets, which include the Cullinan and Finsch mines. The decision followed consultations with its first- and second-lien creditors, while José Manuel Vargas stepped down as chair and director and Lerato Molebatsi was appointed interim chair.

 

De Beers will take full ownership of the Gahcho Kué diamond mine in Canada after Mountain Province Diamonds agreed to transfer its 49% stake as part of a comprehensive restructuring. The transaction releases Mountain Province from its mine-related debts and reclamation liabilities, while preserving an option to repurchase its interest before the end of 2029.

 

Namdeb recovered a 176.29-carat natural diamond, named Owishi, at its Southern Coastal Mine in Oranjemund, Namibia. President Netumbo Nandi Ndaitwah said the discovery, the mine’s largest in two decades, reinforces Namibia’s position as a producer of high-quality gem diamonds and called for greater domestic beneficiation and stronger marketing of the country’s diamond story.

 

UK-based luxury jeweler Boodles has acquired the Argyle Pink Diamonds brand from Rio Tinto. The deal includes the remaining pink-diamond inventory, trademarks and digital assets, and transfers stewardship of the brand. The acquisition follows the 2020 closure of the Argyle mine, which produced more than 90% of the world’s pink diamonds.

 

Pandora opened a $150 million jewelry manufacturing facility in Ho Chi Minh City, Vietnam, its first production site outside Thailand. The plant, described as the world’s largest fine-jewelry crafting facility, will produce up to 60 million pieces annually, increasing Pandora’s manufacturing capacity by 50% and creating 7,000 jobs when fully operational.

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The European Union’s new green marketing rules took effect September 27, tightening restrictions on environmental and sustainability claims to curb greenwashing. Diamond and jewelry companies selling in Europe must ensure claims such as “sustainable,” “responsibly sourced,” “eco-friendly” or “green” are clear, specific and supported by credible evidence.

 

Gemfields expects to report a net loss of $73.5 million for the first half, compared with a $20.5 million loss a year earlier, after taking a $125.2 million impairment charge at its Montepuez ruby mine in Mozambique. Auction revenue more than doubled to $102.8 million, although the comparison reflects the deferral of a mixed-quality ruby auction from December 2025 to February.

 

De Beers and the National Geographic Society renewed their Okavango Eternal partnership for a further five years, aiming to secure formal protection for 5.4 million hectares at the Okavango River Basin’s source in Angola. The initiative will deepen cooperation with Botswana, Angola and Namibia, where governments have formed an alliance to safeguard the basin and support conservation-linked livelihoods.

 

Moody’s downgraded Botswana’s sovereign rating to Baa2 from Baa1, warning that weaker diamond revenue and persistent budget deficits are eroding the country’s fiscal resilience. The agency expects government debt to rise to 41% of GDP by fiscal 2027, despite recent tax and spending measures aimed at narrowing the deficit.​​​​​