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The Angolan government announced that Maaden International Investment, a subsidiary of Oman’s sovereign wealth fund, will replace Russia’s Alrosa in the Catoca diamond project. The decision, announced by Minister of Mineral Resources, Petroleum, and Gas Diamantino Azevedo, follows U.S. and European sanctions on Alrosa, which had impacted Angola’s diamond sector and its credibility in international markets.

The Gemological Institute of America (GIA) recently discovered feather inclusions in two natural diamonds: 1.55 ct round with G-color and I1 clarity and a 0.30 ct round with F-color and VS2 clarity.

There appeared to be a swarm of butterflies in one of the diamonds or a kaleidoscope. A feather broke through the pavilion surface, which could be observed face-up through the crown. Mirror and prism created images that looked like a white butterfly. 

On November 1st, the people of Botswana chose a new President for their country, President Duma Boko. Duma Boko is a part of the opposition coalition Umbrella for Democratic Change (UDC) and studied Law at Harvard University.

This election marks the end of a 58-year rule of the Botswana Democratic Party, the party of his predecessor Masisi.

In light of the current market challenges, it is essential to conduct regular check-ins to stay informed about ongoing developments. Today, we share insights from Lukfook and LVMH .

The Hong Kong-based jewellery retailer Lukfook reports that in Q2, retail sales value fell by 16% year-on-year due to high gold pricing and lower consumer demand. They also see that consumers are drawn more to gold and platinum (79%) than to fixed price jewellery (21%). This means that people are not as interested in buying diamonds and fixed-price jewellery anymore. 

De Beers Group has announced a new step towards more transparency in the diamond industry. Starting in 2025, the company will provide specific country of origin data for all rough diamonds over 1 carat registered on its Tracr platform.

Over the month of September, jewellery sales in the United States increased over Labor Day weekend. 

A year-on-year rise of 3,8% is recorded for September, which means a notable growth according to Mastercard SpendingPulse. General retail sales also saw a climb in their numbers, both online and in-store, and restaurants noticed an increase as well. 

Pandora has been transforming its entire precious metal supply and has since shifted to making jewellery only with 100% recycled silver and gold. This would avoid 58.000 tons of CO2 per year, equivalent to the annual carbon footprint of New York City. This turn-around is possible because both silver and gold can be recycled forever without losing quality. 

Alexander Lacik, President and CEO at Pandora, states that by doing this, the company can reduce its “climate impact significantly without compromising on quality or craftsmanship.”

The diamond industry in Surat, Gujarat, is facing a severe crisis due to the Russia-Ukraine war and G7 sanctions on Russian diamonds, leading to factory closures and widespread job losses. Congress leader Shaktisinh Gohil criticized the Indian government’s inaction, urging immediate intervention as diamond exports dropped from USD 23 billion in 2022 to USD 16 billion in 2023. With approximately 2.5.000.000 families affected, the region is grappling with despair, and some workers have reportedly taken their own lives. Gohil calls for diplomatic efforts to address the industry's downturn.

Despite the fact that De Beers announced in June that it would stop the production of lab-grown diamonds for jewelry, the company today is launching a new fall campaign, titled "Modern Family", for its lab-grown brand Lightbox. These developments clearly affirm the brand’s commitment to the lab-grown diamond market. De Beers is to stop producing diamonds for jewelry when it comes to Oregon, but the company will continue to focus on innovating and growing the brand.

Rio Tinto is offering voluntary early termination to workers at its Diavik diamond mine as part of cost-saving measures and with the mine's planned closure in 2026 ahead. The initiative aims to address challenges in the diamond industry while downsizing its workforce, though some employees will stay until 2029 to assist with the closure process. Despite industry difficulties, Rio Tinto remains optimistic about strong demand for Canadian diamonds and is committed to safe production, workforce obligations, and responsible closure of the mine. Diavik currently employs over 1,200 workers.

For the first time, the French luxury brand Chaumet has launched a  diamond necklace that you can trace all the way back to its rough version in light of its aim to provide clients with more transparency.

They made this possible by combining their savoir-faire with the technology developed by an expert in diamond tracing, Sarine. Because of this, it is possible to follow and visualise multiple stages in the life of each stone.

In the Meya mine in Sierra Leone, a high-quality, 391.45-carat diamond has been discovered, making it the second diamond over 100 carats found at the site. The Type IIa diamond, recovered on August 20, was originally part of a 514.99-carat stone that broke into three pieces during extraction. 

Angola and Russia are reportedly negotiating a deal that may allow Alrosa to retain its 41 percent stake in the Catoca diamond mine, despite initial pressure from the Angolan government for Alrosa to exit due to G7 sanctions. 

The Angolan ambassador to Russia indicated that both countries are developing mechanisms to overcome the operational challenges caused by the sanctions. Although Alrosa was previously reported to be considering selling its stake, it remains unclear whether the negotiations will result in Alrosa maintaining its share in the mine. 

With the vision to expand the company in Southeast Asia and other markets outside of China and Hong Kong, Chinese jeweller Chow Tai Fook has hired Gabriela Ferreira as its new International General Manager. Ferreira, who previously held a senior role at Loewe, will focus on enhancing the Chow Tai Fook brand’s desirability and expanding its retail network in popular travel retail markets and areas with a strong interest in Chinese culture and art.

Junior miner Botswana Diamonds (BOD) intends to start using AI, technology developed in collaboration with International Geoscience Services Limited to enhance its exploration activities in Botswana to identify mineral deposits, diamonds and other minerals, the company said recently. The technology will combine existing geological data and knowledge with the ability of AI to generate models fast and efficiently. “It is early stages for both our work and the use of the technique in mineral exploration, but the future potential is huge.", BOD Chairman John Teeling commented to miningmx.