Author: Megha Patel

The Gemological Institute of America (GIA) will introduce a new descriptive system for laboratory-grown diamonds later this year, replacing the traditional colour and clarity grading scales originally developed for natural diamonds. Laboratory-grown diamonds will still be accepted for evaluation and identification under the revised system.The new framework will categorise qualifying laboratory-grown diamonds as either ‘premium’ or ‘standard’, based on a combination of characteristics including colour, clarity and finish. Diamonds that do not meet the minimum threshold will not receive a classification. Until the new system is in place, current services for laboratory-grown diamond reports will remain available.Reflecting Narrow Quality RangeAccording…

President Duma Boko has announced plans to change how Botswana manages its mineral sector, stating that all diamonds mined in the country must be cut and polished locally. The policy is part of a government effort to expand local processing of minerals, including diamonds, copper, and nickel, before export.Shift to Domestic Diamond ManufacturingSpeaking at a public meeting in Ramotswa, President Boko said: “No diamond will leave this country raw — all will be cut and polished here.” He added, “We are moving to a point where no mineral will leave this country without being processed. We will bring the laws…

Gemological Science International (GSI) has opened a new laboratory in Bangkok, Thailand—its 14th globally. The facility is located in the city’s gem and jewellery district, a key centre for international coloured gemstone trading.The laboratory will serve both local and international clients and offers testing and certification services for coloured gemstones, natural and lab-grown diamonds, pearls, and finished jewellery.Range of ServicesThe Bangkok facility provides comprehensive testing, analysis, and certification services across a wide array of product categories, including coloured gemstones, natural and lab-grown diamonds, finished jewellery, and pearls. The lab also specialises in the screening and detection of undisclosed lab-grown diamonds…

The forthcoming India–UK Free Trade Agreement (FTA) is expected to remove nearly all tariffs on Indian jewellery exports to the UK. According to the Gem and Jewellery Export Promotion Council (GJEPC), the agreement could see exports of Indian jewellery to the UK increase from approximately £297 million to £742 million, with total gem and jewellery exports reaching £1.85 billion within two years of implementation.Product Categories and Market FocusGold and diamond jewellery are expected to remain the primary categories of interest for the UK market. “Gold and diamond-studded jewellery are expected to gain more traction, driven by strong consumer demand and established…

The World Federation of Diamond Bourses (WFDB) will hold its annual Presidents’ Meeting in New York from 10–11 June. The event will feature participation from government representatives and senior figures across the diamond supply chain to discuss current issues affecting the natural diamond sector.Hosted by the Diamond Dealers Club of New York and led by President Elliot Krisched, the meeting is centred on the theme “Tariffs and Supporting Natural Diamonds”. It will include a series of expert panels and discussions focused on current challenges and policy considerations within the industry.Government RepresentationSpeakers will include Botswana President Duma Boko and U.S. Secretary of…

Susan Jacques, President and CEO of the Gemological Institute of America (GIA), has received the International Colored Gemstone Association (ICA) Lifetime Achievement Award. The award was presented during a gala dinner at the conclusion of the ICA Congress held in Brasília, Brazil, from 19–22 May 2025.The award acknowledges Jacques’ long-standing service and leadership within the gem and jewellery industry. ICA President Damien Cody said: “Susan has contributed to our industry in many roles, always with exceptional dedication and professionalism.”ICA CEO Doug Hucker said: “Susan is a prime example of generational leadership excellence. While she may step away from her role at…

Dr Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), has been presented with a Lifetime Achievement Award by the International Colored Gemstone Association (ICA). The award was conferred during the ICA Congress held in Brasilia from 19 to 22 May.The ICA award was presented to Dr Cavalieri in recognition of his work supporting standard-setting and international cooperation within the coloured gemstone sector.Statements from ICA LeadershipDamien Cody, President of the ICA, said:“Gaetano Cavalieri stands today as one of the most respected and influential figures in the global jewellery community. His dedication spans decades, and we, as an industry, owe him…

Progress made during 2025 Intersessional in Dubai as African Diamond Producers Association proposes revised languageThe Kimberley Process (KP) has taken a notable step forward toward expanding its definition of “conflict diamonds,” following developments at its 2025 Intersessional meeting held in Dubai from 12–16 May. The advancement stems from a proposal submitted by the African Diamond Producers Association (ADPA), which represents 15 member countries and five observers. This represents a notable step forward in the KP’s ongoing review and reform efforts.Current and Proposed DefinitionThe current definition of conflict diamonds—unchanged since the KP’s inception in 2000—refers only to rough diamonds used by…

The Gemological Institute of America (GIA) has launched GemKit by GemKids, a free digital education resource designed to introduce primary-level students to gemmology. Aimed at pupils in years equivalent to US grades four to six, the programme includes lesson plans, worksheets, videos and activities aligned with the Next Generation Science Standards (NGSS).Curriculum-Aligned Gemmology ContentGemKit is structured to support earth science education and is available for use in classrooms and homeschool settings. The digital programme includes modular unit plans that can be used in full or in part, offering flexibility for educators.Cathryn Ramirez, Chief Learning Officer at GIA, stated: “By bringing the…

De Beers has reportedly been offering rough diamonds at reduced prices to a limited number of trading partners, according to buyers familiar with the matter. These transactions, which fall outside the company’s standard sales framework, are said to involve discounts ranging from 10% to 20% off official prices. De Beers has not publicly confirmed the details of these arrangements and declined to comment when approached.Under usual practice, De Beers conducts ten scheduled sales each year in Botswana for a group of approximately 70 authorised customers, known as sightholders. Prices at these events are fixed, and while purchases are not mandatory,…

De Beers Group has announced its intention to close Lightbox, its lab-grown diamond (LGD) jewellery brand, as part of a broader strategy to refocus its operations around natural diamonds. The decision is described as a step in executing the group’s “Origins Strategy”, which was unveiled in May 2024, aimed at simplifying operations and redirecting investment towards core segments.As part of the wind-down, De Beers is in discussions with potential buyers regarding certain Lightbox assets, including inventory. The group confirmed that it will continue to support customers through warranties and after-sales service during the closure process.Declining Lab-Grown Prices Prompt ExitLaunched in…

The World Federation of Diamond Bourses (WFDB) has formally expressed support for an industry-wide request to the U.S. Government, urging the exemption of natural diamonds from proposed import tariffs. The appeal centres around the economic impact that such duties could have on the U.S. jewellery sector and was initiated by the World Diamond Council (WDC).The WDC statement, released earlier this week, calls for natural diamonds (HS Codes 7102.10 and 7102.31) to be included on Annex II, exempting them from the proposed tariffs. The WDC has received backing from multiple trade bodies, including the Antwerp World Diamond Centre (AWDC), the International…

The Jewelers Vigilance Committee (JVC) has introduced an online tool to help track U.S. tariff changes relevant to the jewellery industry. The Tariff Tracker is now live and provides information on import duties for jewellery, gemstones, and precious metals.Purpose and ScopeAccording to the JVC, the tool outlines how these tariffs may affect import costs, customs compliance, and supply chain planning. It will be updated when changes are announced and serves as a reference point for industry members. The resource is not a substitute for legal advice, and users are encouraged to consult legal professionals for compliance issues.Development and SupportThe tool…

De Beers Group has recommenced its diamond auction operations in Botswana following the relocation of its Auctions business from Singapore to Gaborone. The move consolidates the Group’s global diamond trading activities in Botswana, completing the transfer of its auction operations.The Auctions business is now operating alongside the Group’s Sightholder sales activities already based in Gaborone, which distribute rough diamonds through term contracts and auctions.Pilot Auction Conducted During Cycle 3Sales resumed with a small-scale trial auction during Sales Cycle 3, directed at Sightholder customers. De Beers reported a high level of participation from Sightholder customers during the trial event. The majority of…

The Gemological Institute of America (GIA) has confirmed the reinstatement of its global laboratory operations, including the acceptance of goods requiring shipment to the United States. The update follows a recent suspension of international shipments linked to changes in US import tariffs.International Shipping to the US ReinstatedGIA laboratories outside the United States, including those in Hong Kong and Dubai, have resumed standard service procedures. The organisation is once again accepting items that need to be sent to the US for analysis or certification.“All GIA laboratories have resumed accepting goods according to their local service criteria,” the organisation confirmed in a…

Diamonds Do Good has completed its first “Diamonds Do Good in Action” trip to Botswana. The initiative was designed to provide jewellery industry participants with on-site exposure to natural diamond mining operations and related community projects.The itinerary included visits to the Jwaneng diamond mine and a local diamond cutting and polishing facility. Attendees observed various stages of the supply chain and met employees, including individuals with disabilities, working within the sector.The delegation also met with government representatives to learn how diamond revenues have contributed to infrastructure development, including roads, schools, and hospitals. The visit also included time in the Okavango…

Tiffany & Co. has launched Blue Book 2025: Sea of Wonder, its latest high jewellery collection. Designed by Chief Artistic Officer Nathalie Verdeille, the collection is divided into six chapters, each inspired by marine forms and environments, and draws on the house’s historic connection to oceanic motifs, particularly those developed by Jean Schlumberger.Design Themes and InspirationThe collection explores themes ranging from ocean flora to aquatic creatures and wave formations, combining natural references with detailed craftsmanship and transformable designs. Verdeille stated:“Each piece in our latest Blue Book collection, Sea of Wonder, captivates and invites us to lose ourselves in the rich…

De Beers has reported a 44 per cent fall in rough diamond sales revenue for the first quarter of 2025, according to figures released by its parent company, Anglo American. The miner sold 4.7 million carats across its first two sights of the year, generating $520 million, compared to $925 million from 4.6 million carats in the same period of 2024. The average price per carat declined by 38 per cent to $124.Sales and Pricing TrendsThe decline in average price reflects a combination of a 15 per cent drop in De Beers’ rough diamond price index, a shift in the…

A diamond cutter in Israel is facing legal proceedings that could see him personally liable for the full value of a $270,000 (approximately 1 million shekels) diamond that was destroyed during the cutting process. The case involves the Israel Diamond Exchange (IDE) Arbitration Tribunal, two supplier companies, and legal proceedings initiated in the Tel Aviv District Court.Background to the IncidentThe diamond cutter, identified only as Y, was employed by a company owned by his brother when the incident occurred. While processing the stone — a recognised high-risk aspect of diamond processing — the diamond shattered, rendering it worthless. Such breakages…

Sanctions imposed by the G7 countries on Russian diamonds are proving largely ineffective, according to Pyotr Karakchiev, head of the international cooperation department at Alrosa, speaking at the Khozaktiv-2025 corporate forum. Karakchiev said the absence of a global tracing system for rough diamonds is a key factor limiting the sanctions’ impact.Tracing Deficiencies and Industry-Specific ChallengesKarakchiev stated that although sanctions “force us to come up with new means of interaction,” they have not achieved the intended effect. “The sanctions that our adversaries dreamed up were supposed to affect us in a big way but they are not achieving the necessary effect,…

Swiss watch exports rose by 1.5% year-on-year in March 2025, reaching CHF 2.13 billion, following declines in the previous months. The growth was primarily driven by increased demand from the United States and the United Kingdom, while markets in Asia continued to show signs of contraction. Despite the monthly gain, export figures for the first quarter of 2025 remained slightly negative overall, down 1.1% to CHF 6.11 billion.Market Performance by RegionThe United States remained the leading market for Swiss watches, with exports rising 13.7% in March to CHF 405.2 million. Japan and the United Kingdom followed with growth of 1.1%…

Bulgari has expanded its production facility in Valenza, Italy, making it the largest single-brand jewellery manufacturing site globally. The site, operated under LVMH ownership, now covers more than 355,000 square feet and is expected to create 500 additional jobs by 2029. The development consolidates production and introduces expanded training capabilities.Increased Manufacturing Capacity and Workforce GrowthSince opening in 2017, Bulgari’s Valenza site has grown from 14,000 square meters to more than 33,000 square meters following the addition of two new buildings. Employee numbers have increased from 370 to over 1,100, with a target of 1,600 to 1,700 workers by the end…

India’s gem and jewellery exports for the financial year April 2024 to March 2025 totalled US$28.50 billion (₹2,41,089.50 crore), reflecting an 11.72% decline year-on-year in US dollar terms, according to provisional figures released by the Gem & Jewellery Export Promotion Council (GJEPC). Imports over the same period fell by 11.96% to US$19.61 billion (₹1,65,819.35 crore).For March 2025, exports showed a slight increase of 1.02% year-on-year to US$2.58 billion, while imports decreased by 7.2% to US$1.94 billion.Cut and Polished DiamondsExports of cut and polished diamonds totalled US$13.29 billion (₹1,12,410.58 crore) for FY 2024–25, representing a 16.75% year-on-year decline. Imports decreased by…

The European Union has confirmed that polished diamonds will not be subject to retaliatory import tariffs in response to new US trade duties, following concerns raised by the Antwerp World Diamond Centre (AWDC) about the potential impact on Belgium’s diamond sector.Context of the Tariff DisputeThe EU’s announcement comes amid broader trade tensions, as the United States moves forward with a revised tariff policy. As of 9 April, the US administration introduced a 90-day tariff pause for most countries, excluding China, while raising tariffs on Chinese goods to 125%. Although the EU had considered reciprocal measures, polished diamonds have been excluded…

Russia and Belarus have announced plans to launch a joint platform for jewellery exports, focusing on markets including China, the UAE, Vietnam, and Southeast Asia. The plan was confirmed after a meeting between Russia’s Deputy Finance Minister Alexei Moiseyev and Belarus’s Finance Minister Yuri Seliverstov in Minsk on 4 April.Marketplace Development and ScopeThe project, due to launch in test mode later in 2025, will offer a shared online platform for exporting jewellery from both countries. The Eurasian Development Bank, co-founded by Russia and Kazakhstan, is supporting the initiative.”A marketplace for the sale of Belarusian and Russian jewelry on foreign markets…

The Gemological Institute of America (GIA) has broadened the scope of services offered at its Hong Kong and Dubai laboratories in response to new U.S. tariffs and the associated logistical challenges. The changes affect where larger and fancy colour diamonds can be submitted for grading, in light of new U.S. import duties.Expanded Carat Limits in Hong Kong and DubaiEffective immediately, GIA’s Hong Kong and Dubai labs will accept D-Z colour, rough or polished diamonds weighing up to 9.99 carats. This is a significant increase from the previous maximum submission weight of 3.99 carats for both locations. In addition, Hong Kong…

De Beers Group has announced plans to allocate its highest level of category marketing spend in 10 years to support natural diamond promotion. The company has stated it will match financial contributions from national marketing initiatives during 2025 and is inviting proposals from stakeholders across the industry.Joint Efforts with Industry OrganisationsDe Beers is working with a number of trade bodies, including the Antwerp World Diamond Centre (AWDC), the Gem and Jewellery Export Promotion Council (GJEPC), and the Dubai Multi Commodities Centre (DMCC), to support marketing campaigns for natural diamonds in various regions.The company has confirmed that strategic campaigns have already…

The United States’ recent decision to impose sweeping import tariff increases—part of a broader strategy dubbed “Make America Wealthy Again”—is poised to trigger substantial shifts across the global gem and jewellery supply chain. With new tariff rates varying by country, and India facing a 26% import duty on jewellery, industry leaders are warning of rising costs, disrupted trade flows, and potential relocation of manufacturing operations to mitigate the impact.Overview of the New Tariff PolicyAnnounced in April 2025, the new US tariff structure affects jewellery imports from a range of key suppliers. Rates differ by trading partner, with the European Union…

Jewellery dating from the medieval and early modern periods, discovered by metal detectorists, featured in the Jewellery, Watches, and Objects of Vertu auction held by Noonans Mayfair on 27 March in London. The sale included items of historical significance, such as a 17th-century memorial ring linked to a judge involved in England’s final witch trials, a medieval bishop’s sapphire ring, and a 13th–14th century gold posy ring.Memorial Ring Linked to Witch Trial Judge Fails to SellA late 17th-century memorial ring, found by detectorist Steve Pulley in January 2020, was among the more historically significant lots. The piece, crafted in gold and…

Anglo American has entered preliminary discussions with banks regarding a potential initial public offering (IPO) of its diamond unit, De Beers. The move forms part of a broader restructuring initiative announced last year by Anglo American CEO Duncan Wanblad, as the company seeks to divest from non-core assets and focus on higher-growth sectors. Alongside the IPO preparations, Anglo is simultaneously exploring the possibility of an outright sale of De Beers.De Beers: Final Step in Anglo’s Asset DivestmentDe Beers is the last major business unit in Anglo American’s planned exit from several commodity sectors. Since announcing its restructuring, the company has divested…