The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the Indian gem and jewellery industry, will be participating in the Ministerial RoundTable on Natural Diamond Promotion, scheduled to take place on 18 June 2025 in Luanda, Angola.

Representing India at this prestigious global forum will be  Shaunak Parikh, Vice Chairman, GJEPC, and  Sabyasachi Ray, Executive Director, GJEPC. Their presence underscores India’s continued commitment to supporting a resilient, transparent, and sustainable natural diamond industry.

Organised by Angola’s Ministry of Mineral Resources, Petroleum and Gas (MIREMPET), the high-level summit is bringing together ministers and senior representatives from leading diamond-producing nations including Botswana, Namibia, South Africa, Sierra Leone, and the Democratic Republic of Congo, along with key stakeholders across the global diamond value chain.The meeting will be chaired by the Minister of Mineral Resources, Petroleum and Gas, His Excellency Diamantino Azevedo.

The RoundTable aims to address critical industry challenges and deliberate on the need for collaborative efforts to promote natural diamonds through generic marketing and shared narratives around their rarity, beauty, and socio-economic impact.

One of the key outcomes of the summit will be the signing of the Luanda Agreement, a joint declaration reaffirming the commitment of governments and industry leaders to enhance the global positioning of natural diamonds and ensure their long-term positive impact on producer nations and communities.

GJEPC’s participation at this RoundTable reflects India’s integral role in the natural diamond pipeline and its dedication to engaging in global conversations that shape the future of the industry.

Authorities in Finland have officially granted mining rights to Karelian Diamond Resources, marking a significant step toward establishing the first diamond mine within the European Union.

The Lahtojoki deposit, located in the Kuopio-Kaavi region, spans 71 hectares and includes a 16-hectare kimberlite pipe containing high-quality colorless and pink diamonds.

On June 12, the Finnish Safety and Chemical Agency registered Karelian’s rights to explore and utilize minerals from the site, enabling the company to move forward with its development plans.

This milestone allows Karelian to begin preparing the next phase of operations at the Lahtojoki site. Once operational, it would be the EU’s first diamond mine outside of Russia.

Karelian acquired the mining concession, along with all associated claim reports and technical data, from A&G Mining Oy. The acquisition was agreed at €150,000—an upfront payment of €50,000 followed by an additional €100,000 due after 24 months, unless the project is discontinued.

As part of the deal, A&G Mining is entitled to a royalty of 1% on diamond production (in cash or diamonds) up to 2.5 million carats, increasing to 2% for any production beyond that threshold.

In addition to the Lahtojoki project, Karelian is actively exploring for nickel, copper, and platinum-group elements at its Colebrook site in Northern Ireland

A gumball machine dispensing five-euro lab grown diamonds was unveiled  on 12 June as part of a two-pronged campaign, highlighting Antwerp’s history as a diamond hub – and the low value of lab growns. Lab growns account for just 0.6 per cent of the diamonds traded in Antwerp, which has been a global hub for almost 580 years.

The cheeky stunt, taking place today and tomorrow at the city’s Stadsfeestzaal shopping mall, is part of the new We Protect a Legacy initiative by the Antwerp World Diamond Centre (AWDC).

The campaign highlights the core differences between natural and lab growns, which remain unclear to many consumers, leaving room for confusion — and in some cases, deliberate misinformation. the market price of synthetic diamonds has collapsed in recent months, losing up to 95 per cent of their value over the past seven years, while natural diamonds are becoming increasingly scarce