DiamondBuzz
De Beers leaves rough prices unchanged at the first cycle of the year
De Beers left rough prices unchanged at the first cycle of the year after December’s sharp reductions. It allowed 20% buybacks for all goods — a mechanism that lets sightholders sell the least profitable stones back to the company. Demand was weak, with sales value expected to be low.
But the question on sightholders’ lips was what would happen next. One of the main reasons for the low sales was De Beers’ high prices. The miner’s rough remains significantly more expensive than the tender and auction market.
The company’s December price change of 10% to 15% went only part of the way toward closing this gap. Russian rival Alrosa has now reached similar price levels: It followed a December cut of around 10% with a further one of 7% to 8% in January, market insiders said.
Legendary gemologist who helped shape global diamond grading standards steps down after five decades at GIA
Tom Moses, executive vice president and chief laboratory and research officer at the Gemological Institute of America (GIA), is set to depart after nearly 50 years of trailblazing service.
Moses spearheaded GIA’s global footprint, elevating it to the pinnacle of gemology and education worldwide, the institute announced last week. He’ll stay on through May’s end to ensure a seamless handover, then transition to chief of gemological research emeritus—a fitting tribute to his indelible mark.
“The rigor Tom infused into grading, the discipline he championed in science, the laser focus on customers, and the humility in leadership embody GIA’s gold standard,” said GIA CEO Pritesh Patel. “His five decades aren’t just tenure—they’re the engine of our explosive growth, fueled by relentless commitment, curiosity, and command.”
A graduate gemologist since joining GIA’s California lab in 1976, Moses climbed through key leadership posts, co-authored over 100 technical papers in Gems & Gemology and peer journals, snagged the 2002 Richard T. Liddicoat Award, and joined the board of governors in 2013.
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