International News
Future of natural diamonds challenging; holds promise of transformation: BCG report
A new report by the Boston Consulting Group (BCG), commissioned by De Beers Group, unveils the critical factors that will shape the future of the natural diamond market
A new report by the Boston Consulting Group (BCG), commissioned by De Beers Group, unveils the critical factors that will shape the future of the natural diamond market.In an era marked by rapid changes and emerging challenges, the natural diamond industry stands at a pivotal juncture. A recent report by the Boston Consulting Group (BCG), commissioned by De Beers Group, sheds light on the critical factors shaping the future of the natural diamond sector. With primary diamond supply projected to decline and demand dynamics evolving, the industry is poised for a significant transformation, it notes.
The cornerstone of the natural diamond industry’s future is the anticipated decline in primary supply. The report highlights that the primary production of natural diamonds is expected to decrease by approximately 1% CAGR over the next decade. This decline is driven by the diminishing yields from ageing mines, a scarcity of new discoveries, and constrained exploration budgets over the past ten years. While there is potential for some increase through brownfield expansions, the overall outlook suggests a tightening of supply.
International News
De Beers Assumes 100% Control Of Gahcho Kué Diamond Mine
A Global Slump In Diamond Demand Hit The Company Hard. Its Revenue Dropped 42% In 2025, and Average Diamond Prices Plummete
De Beers is taking 100% control of the Gahcho Kué diamond mine in Canada’s Northwest Territories. Its partner, Mountain Province Diamonds, was facing major financial trouble and agreed to hand over its 49% share in exchange for being cleared of all its debts to De Beers.
​Here is why Mountain Province ran into trouble:
​Falling Diamond Prices: A global slump in diamond demand hit the company hard. Its revenue dropped 42% in 2025, and average diamond prices plummeted—falling to just $36 per carat in the second quarter.
​Massive Debt: Mountain Province was struggling to pay back tens of millions of dollars in short-term loans. Ratings agency S&P warning that the company was at high risk of defaulting on its debts.
​Cost-Cutting and Emergency Funds: To stay afloat, the company paused expansion plans at the mine, delayed payments into environmental cleanup funds, and sold future diamond sales rights to major investor Dermot Desmond (an Irish billionaire) for quick cash.
​Despite selling twice as many diamonds recently, prices were too low to cover their debts.
CEO Jonathan Comerford explained that trade tariffs and Middle East conflicts crushed diamond prices, leaving handing over their share of the mine as the best option to cancel liabilities and secure local jobs.
-
National News23 minutes agoKEYA By Adbhut Brings Wearable Art and Indian Craftsmanship To Delhi Art Weekend 2026
-
International News2 hours agoDe Beers Assumes 100% Control Of Gahcho Kué Diamond Mine
-
National News2 hours agoKeemti Jewels Unveils Second Lagship Store In Mumbai At  Borivali-West
-
New Premises5 hours agoMalabar Gold & Diamonds Opens Its Second-Biggest Showroom In Goa
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.