US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

17 september 2021

Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

17 september 2021

Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

17 september 2021

Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

17 september 2021

Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

17 september 2021

The Next Diamond Decade

13 january 2020
(diamonds.net) - It wasn’t that long ago that De Beers declared the 2010s “The Diamond Decade.” Growth in China and India was projected to drive demand, while the US would take small steps out of recession. This is what Varda Shine, then-head of De Beers’ supply arm, the Diamond Trading Company (DTC), predicted in a 2010 interview with Rough & Polished. In some sense, she was correct. The last 10 years have seen the Chinese consumer emerge as an influential force in the diamond industry. At times, that has been to the trade’s advantage. During other periods, however, China’s influence on the trade has been more volatile. Shine was also correct in her assessment of the US, which continues to be the mainstay market for the diamond industry. Overall, global diamond jewelry sales grew 16% from an estimated $65.3 billion in 2010 to $76 billion in 2018, according to De Beers. Here, we make 10 predictions of how the market will evolve in the 2020s, though perhaps they’re better read as suggestions for what needs to happen to ensure growth. Either way, we’re optimistic that it will be better than the 2010s, perhaps even an era that’s worthy of the title “The Diamond Decade.”