International News
BSM Brazil 2026 to host Latin America’s largest jewellery trade delegation
BSM Brazil 2026 returns to São Paulo on May 14–15 with its biggest-ever South American delegation, uniting top global exhibitors and buyers from across Latin America to strengthen regional jewellery trade.
The third edition of Buyer Seller Meeting (BSM) Brazil returns to São Paulo on 14-15 May 2026, promising its largest ever South American delegation. Organised in association with Mubri, GJEPC, DMCC, and the Diamond Dealers Club New York, the event has grown beyond Brazil to include buyers from Argentina, Chile, Colombia, Peru, and Bolivia, cementing its place as Latin America’s leading B2B jewellery platform.
Members of the Mubri Association recently met Paraguay’s Ministry of Industry and Commerce to leverage Mercosur tariff benefits, aiming to boost cross-border trade efficiency.
Ali Pastorini, President, Mubri, said, “My mission, more than creating large events, is to bring quality products to the region and for this to become, over the decades, a primary requirement for Latin American companies to be present in the regional market. For the sector to improve and maintain quality, it depends on each of us making good choices, which includes seeking out good suppliers.”
With exhibitors including De Beers sightholders, RJC affiliates, and LBMA members, the 2026 edition will offer two days of high-level networking and business opportunities in São Paulo.
DiamondBuzz
Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025
Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.
Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.
Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.
However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.
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