International News
CIBJO President Dr. Gaetano Cavalieri Honoured with ICA Lifetime Achievement Award
Dr. Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), has been awarded the Lifetime Achievement Award by the International Colored Gemstone Association (ICA) in recognition of his decades-long commitment to advancing the global coloured gemstone sector. The prestigious honour was presented during the ICA Congress held in Brasília from 19–22 May.
“Gaetano Cavalieri stands today as one of the most respected and influential figures in the global jewellery community,” said Damien Cody, ICA President. “His dedication spans decades, and we, as an industry, owe him a deep and enduring debt of gratitude. He has been awarded many accolades over the years and he now joins a short list of preeminent individuals who have been honoured with this most prestigious recognition.”
ICA CEO Doug Hucker added, “It is nearly impossible to acknowledge all of the people, organisations, industry sectors and associations who have benefited from Dr Cavalieri’s efforts and participation. The ICA is honoured to recognise a true titan of our industry.”
In response, Dr. Cavalieri expressed his appreciation for the recognition, stating: “I am delighted to have been recognised by ICA for my longstanding efforts to develop standards across the global coloured gemstone community. The ICA plays a key role for the benefit of the global international coloured gemstone industry.”
The Lifetime Achievement Award highlights Dr. Cavalieri’s enduring influence in shaping ethical standards, promoting transparency, and fostering collaboration across the global jewellery and gemstone sectors.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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