DiamondBuzz
EU Extends Deadline for Polished Diamond Traceability Requirements to January 2026
Traceability rules for polished diamond imports now delayed by nearly a year, allowing more time for global cooperation and system development.
The European Union has announced a delay in the implementation of traceability requirements for polished diamond imports, pushing the original deadline from March 2025 to January 1, 2026. This extension aligns with ongoing efforts by the G7 to refine governance and ensure fairness in the global diamond trade.
Under the new timeline, rough diamonds (classified under CN codes 7102 10 00 and 7102 31 00) will still require a certificate confirming their mining origin starting March 1, 2025, as per Council Regulation (EC) No 2368/2002. This certificate must clearly indicate the country or countries where the diamonds were mined, ensuring they are not sourced from Russia, in compliance with Regulation (EU) No 833/2014. However, for polished diamonds (CN code 7102 39 00), the mandatory submission of traceability evidence—proving they are neither mined, processed, nor produced in Russia—has been deferred until January 1, 2026.
The delay reflects the complexity of establishing a comprehensive traceability system and highlights the need for ongoing collaboration with G7 nations and other international partners. EU authorities stress that continued engagement and cooperation will be crucial for the effective implementation of these measures.
Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), expressed satisfaction with the decision, stating, “The EU’s extension gives the Indian diamond industry crucial time to adjust and strengthens India’s position as a global leader in the diamond trade. We look forward to continued collaboration with the G7 and other stakeholders to ensure a transparent and sustainable diamond supply chain.”
The EU’s decision demonstrates its commitment to enhancing the G7 diamond traceability protocol, ensuring that the global diamond trade remains transparent and free from conflict-linked or sanctioned sources.
DiamondBuzz
Richemont and Signet Jewelers Could Join Global Diamond Consortium In Bid For De Beers
Richemont, Signet Would Connect The Consortium To Key Global Growth Vectors Spanning Luxury High Jewelry and Mass-Market Retail.
The Global Diamond Consortium (GDC)
Richemont and Signet Jewelers are reported to be in talks about joining the Global Diamond Consortium (GDC), the preferred bidder for De Beers according to a Bloomberg News report.
GDC was selected in July 2026 as one of Anglo American’s preferred bidders for De Beers as part of Anglo American’s ongoing corporate restructuring.
The potential inclusion of Richemont—owner of luxury Maisons including Cartier and Van Cleef & Arpels—and Signet Jewelers—the world’s largest retailer of diamond jewelry, operating brands such as Kay Jewelers, Zales, and Jared—would connect the consortium to key global growth vectors spanning luxury high jewelry and mass-market retail.
Strengthening the Natural Diamond Ecosystem: Participation by major luxury brands and global retail leaders reinforces commitment across the entire value chain—from responsible mining and manufacturing to consumer engagement.
Balanced Governance Structure: Discussions center on potential minority equity positions that would support long-term category growth while maintaining appropriate separation between ownership and commercial strategy.
Broad Stakeholder Participation: The consortium continues to advance talks with host governments, including discussions with the Government of Botswana regarding a potential increase in its equity share in De Beers from 15% to approximately 25%, alongside participation from private investors and southern African host nations.
Discussions between GDC, Richemont, Signet, and participating government stakeholders remain ongoing. Terms of any potential participation, including the size of equity interests, have not been finalized and remain subject to regulatory approvals and definitive documentation.
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