JB Insights
Anglo American writes down De Beers’ value by US $1.6 bn
As part of its annual financial results, Anglo American wrote down De Beers’ book value by $1.6 billion, principally relating to goodwill (brand value).
The diamond giant is now valued at $7.6 billion. Its write-down was driven “by lower prices than previous forecasts reflecting a reduction in forecast consumer demand,” Anglo American said in its year-end financial report. “This reflects macroeconomic uncertainty mainly in the U.S. and China.”
Other factors cited by Anglo: “the timing of differentiation between lab-grown and natural diamonds, the impact of recycling, the latest…estimates and life of asset plans for the mines and, less significantly, the financial impact of revised contractual terms [between De Beers and] the government of the Republic of Botswana (which are expected to be finalized during 2024).”
In a separate financial statement, De Beers said the industry began to stabilize over the fourth quarter. “Retail demand improved over the end-of-year holiday season, especially in the United States, helping to ease midstream inventory pressure,” it said. “However, with ongoing macroeconomic uncertainty, it is anticipated that recovery in rough diamond demand will be gradual.”
De Beers’ statement added: “The ongoing focus on diamond provenance—especially given the expected introduction of Russian diamond import restrictions by G7 nations—has the potential to reinforce demand for De Beers’ rough diamonds, supported by the blockchain Tracr platform. The global supply of rough diamonds is anticipated to continue to decline owing to the maturity of major mines and limited new discoveries.”
Johnson says the write-down “has no tangible impact and is simply an accounting assessment of the current value of the business compared with the value it was assigned at the time Anglo American purchased its majority shareholding [in 2012]. The new carrying value reflects the very challenging macroeconomic environment but has no bearing on our confidence in the positive long-term outlook for natural diamonds.”
JB Insights
SSI 2026 Opens In Mumbai With Grand Inauguration, Landmark Launches and Strong Industry Participants
Silver Show of India (SSI) 4th Edition Mumbai has officially commenced at the Jio World Convention Centre in Mumbai, once again cementing its reputation as a premier agent of transformation for the Indian silver jewellery and articles sector.
Day 1 of the exhibition came alive with an unmatched energy, featuring exciting launches, innovative collections, and high-value business interactions.


The prestigious event was inaugurated by Shri Ramdas Athawale (Hon’ble Minister of State for Social Justice & Empowerment, Government of India) and Shri Rahul Narwekar (Speaker of the Maharashtra Legislative Assembly). The inaugural ceremony was presided over by Prithviraj Kothari (National President – IBJA, President – JAB, and Chairman – SSI Exhibition Committee) alongside Dr. Chetan Kumar Mehta (President – Jewellery Division, IBJA) and other esteemed leaders of the jewellery fraternity.
The opening ceremony drew prominent dignitaries and stalwarts from the gem and jewellery industry, including:
- Ba Ramesh, Joint MD – Thangamayil Jewellery Ltd.
- Dr. Saurabh Gadgil, CMD – PNG Jewellers
- Varghese Alukkas, MD – Jos Alukkas Group
- Kirit Bhansali, Chairman – GJEPC
- Pramod Agrawal, Chairman – NGJCI
- Avinash Gupta, Vice Chairman – GJC
- Mahender Kumar Tayal, Regional Chairperson – GJEPC
Addressing the gathering, Shri Rahul Narwekar said it was not just inaugurating SSI but celebration of India’s craftsmanship, the ‘Make in India’ initiative, and the rapidly growing commercial opportunities within the silver sector.
Massive Footfall and Breathtaking Variety
Reflecting a highly positive and buoyant market sentiment, nearly 11,500 trade visitors from across the country thronged the show floor on the very first day in a serious buying mood. Conducted across two massive levels, the exhibition showcases an extraordinary range of sterling silver jewellery, bridal collections, antique lines, and cool minimalistic offerings. It also features a wide array of silver articles, including pooja articles, furniture, idols, artefacts, and a highly sought-after silver gifting segment.
The exceptional quality, variety, and innovation on display clearly demonstrated why SSI has become a revolutionary platform for promoting business networking, innovation, and growth within the segment.
Industry Insights
Varghese Alukkas, MD, Jos Alukkas said:

“The Silver Show has evolved into an important platform for the silver jewellery and lifestyle products industry. What stands out this year is the diversity of collections on display, the innovation in design, and the growing confidence among manufacturers and retailers alike. With silver gaining increasing acceptance across various customer segments, platforms like these play a crucial role in driving the industry’s growth. I congratulate the organizers for successfully creating a focused B2B ecosystem.”
Saurabh Gadgil, Chairman, PNG Jewellers said:
“The fourth edition Mumbai of SSI reflects the growing strength of the silver industry in India. The enthusiasm among retailers and buyers clearly indicates that silver is emerging as a preferred category across consumer segments. With the festive and gifting season ahead, platforms like SSI play a vital role in connecting the industry, driving business, and showcasing new trends.”

The Silver Show of India continues to serve as an invaluable B2B ecosystem, offering participants unmatched opportunities to discover new product lines, strengthen corporate relationships, and capture emerging consumer preferences.
The show floor witnessed an enthusiastic response from buyers and retailers as exhibitors unveiled innovative collections and product launches. Key highlights included:
• Anmol Silver launched its Rudra Series, inspired by traditional Indian artistry and heritage craftsmanship.
• Navkar Sterling Silver unveiled its Shell & Silver Collection, featuring elegant silver jewellery enhanced with mother-of-pearl, rubies, and emeralds.
• Purple Jewels introduced TULIP – The Ultra Light Idols by Purple, showcasing technologically advanced 925 silver idols with exceptional detailing and finish.
• Kraft Silver attracted attention with its extraordinary display of silver artefacts, including a magnificent silver cow, silver sofa, and innovative decorative creations.
• Antaraa Silver showcased its exclusive range of premium silver accessories, luxury pens, and innovative lifestyle products, drawing appreciation from industry leaders and buyers alike.
Antariksh Jewellers, Chennai showcased an exquisite traditional pooja set.The collection which comprised a meticulously crafted
pooja thali, samai, chambu, bell, udarni, kamachi valak, and aarti.
MJR Silver showcased magnificent, oversized haaram. Emblazoned with the iconic MRJ logo, this masterpiece beautifully weaves together the rich tapestry of the brand’s diverse portfolio. Each intricate detail highlights their mastery of jewellery arts—from kundan and the delicate precision of paper casting, to the modern innovation of electroforming and the soulful depth of hand nakashi work.
Ricchezza showcased Hollow Men’s RPT Jewellery comprising kadas, bracelets and neckwear.
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