International News
GIA team examines Winston Red, a rare 2.33-carat red diamond
A team of scientists from the Gemological Institute of America (GIA), collaborating with their colleagues from the Smithsonian National Museum of Natural History Department of Mineral Sciences and the curator from the Paris School of Mines, recently examined the Winston Red diamond – a very rare 2.33-carat red diamond which is now on display at the Smithsonian’s National Museum of Natural History in Washington, D.C. The Winston Red diamond is the fifth-largest diamond with an exceptionally pure red colour known to exist and the only such red diamond on public exhibit.
“The Winston Red diamond is one of the most exquisite gems on earth, from its unparalleled deep-red colour to its rich history,” said Susan Jacques, GIA president and CEO. “Natural fancy-coloured diamonds are very scarce, and red diamonds are exceedingly rare treasures of Mother Nature. Just two dozen pure red diamonds over one carat exist in the public record. Evaluating this spectacular gem is a scientific milestone for GIA and builds upon our expansive expertise in fancy-coloured diamonds.”
It’s fascinating to understand just how rare red diamonds are. Out of all the colored diamonds the GIA has examined, only a tiny fraction are red, and even fewer achieve the ‘Fancy red’ grade like the Winston Red.
Through careful analysis using advanced instrumentation and drawing on decades of research, experience and historical records, GIA scientists and their collaborators were able to determine the cause of the diamond’s rare colour and its possible geographic origin, which is most likely Brazil or Venezuela, based on its mineralogical characteristics and history.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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