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.
DiamondBuzz
SCS Global Ending “Sustainably Rated” Certificates For Diamonds, Gems
SCS Said The Decision Reflected Market Conditions That Had Failed To Support The Voluntary Programme At Scale. It Also Cited The Lack Of Adoption By The Mining Sector and The Absence Of A Clear Regulatory Framework For Product-Level Chain-Of-Custody
SCS Global Services and its nonprofit standards arm, SCS Standards, have retired the SCS-007 certification programme for sustainably produced diamonds and gemstones, ending one of the industry’s more prominent third-party sustainability certification schemes.
The programme was formally retired on September 1, 2026. SCS Global Services will no longer conduct audits against the standard, while SCS Standards will no longer maintain it. Companies that already hold certifications can continue to use them until their existing expiry dates.
SCS said the decision reflected market conditions that had failed to support the voluntary programme at scale. It also cited the lack of adoption by the mining sector and the absence of a clear regulatory framework for product-level chain-of-custody claims across an increasingly fragmented supply chain.
SCS-007 was originally introduced in 2020 as a framework for independently assessing environmental, social, climate and traceability performance in the diamond supply chain. Its scope subsequently expanded to include emeralds, rubies and sapphires. The standard incorporated requirements covering governance, traceability, environmental stewardship, social responsibility and climate performance.
The programme initially focused heavily on laboratory-grown diamonds. By 2024, SCS said it had certified eight lab-grown diamond producers, 12 diamond handlers and 65 retailers across 14 countries, with more than 100,000 certified diamonds sold through more than 500 stores.
However, adoption remained limited. Industry participants cited by JCK have also pointed to the cost and complexity of certification, particularly for growers, cutters and polishers.
The retirement comes as consumers and jewellery companies continue to seek independently verifiable information on the environmental and social credentials of diamonds. SCS Standards said it remains open to working with existing industry schemes that could build on the chain-of-custody framework developed through SCS-007.
-
JB Insights18 hours agoThe New Jewellery Shopper: Why Trust Is Becoming The New Retail Currency
-
DiamondBuzz15 hours agoBotswana Says Stable Relationship With De Beers Vital to Diamond Recovery
-
DiamondBuzz21 minutes agoSCS Global Ending “Sustainably Rated” Certificates For Diamonds, Gems
-
National News3 days agoSankesh Surana Studio Unveils Viśvaṃ Viṣṇuḥ: A Monumental Contemporary Sculpture Reimagining Sacred Art

