DiamondBuzz
De Beers Sightholders report shortages of large diamonds
Rough diamonds above 5 carats were in tight supply at this week’s sight, customers reported, with explanations ranging from production cuts to ’ strategy of withholding supply. The February trading session saw stable prices in the vast majority of categories, as the miner maintained its policy of not flooding the market, insiders said this week.
The lack of large stones has puzzled some, since De Beers is reportedly sitting on $2 billion of inventories, its largest since the 2008 financial crisis. Many market insiders viewed it as a positive that these sizes were hard to find, reflecting that the categories had sold better in the past few sights. The resultant polished — mostly 2 carats and larger — has performed better in the recent downturn than 0.30- to 2 carat goods.
Some point to a tactical effort by De Beers to limit supply — either to protect the market or to reward sightholders that purchase less sought-after items.
SOURCE: RAPAPORT
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.
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