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
Global Diamond Consortium Announces Agreement To Acquire Anglo American’s Stake In De Beers In Landmark $1 Billion Transaction
Consortium Commits An Additional $500 Million Post-Acquisition Capital Injection and Enters Strategic Dialogues With The Government Of Botswana.
The Global Diamond Consortium, a strategic partnership comprising the governments of Namibia and Angola alongside leading global diamond traders, today announced an agreement to acquire Anglo American’s equity stake in De Beers.
Key Transaction Terms & Reinvestment Strategy
Under the terms of the agreement:
- Initial Consideration: The consortium will pay $750 million upfront upon closing.
- Deferred Consideration: An additional $250 million will be paid in subsequent installments, bringing the total transaction value to $1 billion.
- Post-Acquisition Capital: The consortium has committed to injecting approximately $500 million in fresh capital directly into De Beers following the acquisition to stabilize operations and fuel long-term operational initiatives.
Navigating Market Dynamics
The acquisition marks a pivotal turning point for De Beers, which has faced significant broader market downturns in recent years. After reaching a peak valuation of $17.6 billion in 2001, De Beers’ reported book value adjusted to $2.3 billion earlier this year. The consortium’s capital injection aims to position the iconic diamond producer for renewed stability and sustainable value creation across the global supply chain.
Strategic Regional Collaboration
Central to the transition is the consortium’s commitment to producer-nation equity and strategic alignment. In addition to the direct participation of the governments of Namibia and Angola, the consortium is actively negotiating with the Government of the Republic of Botswana.
Botswana, which currently holds a 15% stake in De Beers, has expressed a formal intent to increase its ownership share as part of the strategic restructuring.
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