On March 19, 2025, the Natural Diamond Council (NDC), in collaboration with the High Commission of Canada in the UK and the Government of the Northwest Territories, hosted the prestigious “Diamonds, A Canadian Love Story” event at Canada House, Trafalgar Square, London. This exclusive gathering showcased the ethical sourcing, cultural heritage, and global influence of Canada’s natural diamonds, with a special focus on their positive impact on Indigenous communities and the fine jewellery industry.

Canada is renowned as one of the world’s leading sources of ethically mined diamonds, and the event celebrated the country’s commitment to responsible practices in the diamond industry. Key figures in the sector gathered to discuss the role of Canadian diamonds in the future of luxury jewellery.

A highlight of the evening was an insightful panel discussion moderated by Bronwyn Cosgrave, celebrated author and producer. The panel featured Lily James, Emmy-nominated actress and Global Ambassador for the Natural Diamond Council; Kateri Rose Lynn, Councillor of Dettah – Yellowknives Dene First Nation and representative of Diamond de Canada; Paul Gruner, CEO of Tłı̨chǫ Investment Corporation; and Jody Wainwright, Managing Director at Boodles. The discussion explored the rich legacy of Canadian diamonds, their ethical mining practices, and their cultural importance to Indigenous communities.

Attendees were also treated to an immersive exhibition featuring stunning collections from prestigious jewellery brands such as Dries Criel, Almod Diamonds, Boodles, Lands Collection by Diamonds of Canada, Misfit Diamonds, Gemporia, HRA Group, Diacore, and Canada’s winners of the Shining Light Awards by De Beers Group. These brands showcased the artistry and craftsmanship of Canadian diamonds, emphasizing their journey from the Earth to luxurious fine jewellery.

“Canadian diamonds are a true testament to ethical luxury, built on transparency and unmatched craftsmanship,” said David Kellie, CEO of the Natural Diamond Council. The event successfully brought together industry leaders, designers, and diamond enthusiasts for a meaningful conversation about the future of natural diamonds in the realm of responsible luxury.

Lucapa Diamond Company, an Australian Securities Exchange (ASX)-listed diamond miner, has finalized its mineral investment contract (MIC) for the Lulo joint venture (JV) in Angola, increasing its stake in the project to 51%. The contract is now awaiting formal signature by the Angolan Ministry of Mineral Resources and Petroleum.

The Lulo JV, which focuses on exploring kimberlites at the Lulo concession, has seen Lucapa raise its ownership from 39% to a majority share. The contract finalization followed a three-day meeting in Angola, where Lucapa, along with JV partners Endiama, Rosas & Petalas, agreed on the remaining details.

Lucapa’s Managing Director and CEO, Alex Kidman, commented on the development, stating: “Securing a majority stake in the Lulo exploration JV is a critical milestone for Lucapa, as it will provide us with an increased share of any exploration success. The finalization of the MIC is something our shareholders have long awaited. This progress highlights Angola’s commitment to Lucapa and to the Lulo project, one of the most prominent diamond ventures in the country. We’re excited to continue working with our partners to uncover the source of Lulo’s extraordinary diamonds.”

Currently, the kimberlite bulk sampling program is underway at the Lulo concession, with stockpiling of samples from L130/01. Additional samples are being prepared from promising sites, including L349, L137, and L130.

Earlier in May 2024, Lucapa Diamond announced plans to divest a 70% interest in its Mothae diamond mine in Lesotho.

The International Gemological Institute (IGI), a leading grading company in the lab-grown diamond market, has reported record financial performance for the calendar year (CY) 2024. The company achieved a 17% increase in revenue and a remarkable 29% growth in profit, driven largely by its dominant 65% share of the global lab-grown diamond grading market.

• Revenue: $120.8 million (INR 10.53 billion), marking a 17% increase compared to the previous year.
• Profit After Tax: $49 million (INR 4.27 billion), reflecting a substantial 29% year-over-year growth.
• Market Share: IGI continues to dominate the lab-grown diamond grading market with a 65% global share.

IGI’s strong financial performance has been supported by its market leadership and strategic business decisions. The company went public in December 2023 with an initial public offering (IPO) that valued IGI at $3.5 billion. This marked a significant valuation jump from its $570 million acquisition price when Blackstone, the world’s largest alternative asset manager, took ownership in May 2023.

Eashwar Iyer, IGI’s Global Chief Financial Officer (CFO), emphasized the company’s operational strength and strategic execution, attributing the record revenue and profit growth to IGI’s ability to capitalize on market opportunities and strengthen its competitive position.

IGI’s robust financial performance underscores the expanding demand for lab-grown diamonds and the growing importance of reliable certification in the industry. The company’s continued leadership in this segment reinforces its credibility and positions it for sustained growth in the future.

IGI’s record-breaking financial results in 2024 highlight its dominant market position, successful strategic initiatives, and ability to drive profitability. With a strong financial foundation and continued expansion, IGI remains at the forefront of the lab-grown diamond grading industry, setting benchmarks for excellence and growth.