International News

GIA temporarily expands scope of laboratory services in Dubai and Hong Kong

Published

1 year ago

April 8, 2025

In response to logistics challenges related to recently announced US tariffs affecting global shipments of gemstones, Gemological Institute of America (GIA) will temporarily expand services offered by the GIA Laboratory DMCC and the GIA Hong Kong laboratory.

D-to-Z diamonds, rough or polished, up to 9.99 carats may be submitted to the GIA laboratories in Dubai and Hong Kong.

D-to-Z diamonds, rough or polished, 10 carats and above and fancy colour diamonds may be submitted to the GIA laboratory in Hong Kong until further notice.

D-to-Z diamonds, rough or polished, up to 3.99 carats may continue to be submitted to the GIA laboratories in Bangkok, Dubai, Gaborone, Hong Kong, Johannesburg, Mumbai, Surat and Tokyo.

Rough diamond submissions are subject to the Kimberley Process Certification rules in each country; rough diamonds cannot be shipped to the GIA laboratory in Dubai, it noted.

The GIA laboratories in the United States (Carlsbad and New York) will continue to accept diamonds, coloured stones and pearls of any size from clients in the United States or with a United States country of origin.

The GIA laboratories in Bangkok, Hong Kong and Tokyo will continue to provide services for coloured stones and pearls, and the GIA laboratory in Mumbai will continue to provide pearl services.

International News

Consortium Led By Former De Beers CEO Gareth Penny Selected As The Preferred Bidder To Acquire De Beers

Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers

Published

2 days ago

July 18, 2026

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A consortium headed by former De Beers CEO Gareth Penny has been selected as the preferred bidder to acquire De Beers, according to Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa.

Speaking on the development, Mohwasa said Anglo American conducted a competitive sale process involving three shortlisted bidders before identifying the Global Diamond Consortium as its preferred choice.

Anglo American announced plans to divest De Beers in May 2024 as part of a broader restructuring strategy, driven by prolonged weakness in the diamond market and other business priorities.

The sale process has attracted significant interest from industry leaders and investors. Among those previously linked to the bidding were former De Beers CEO Bruce Cleaver, Australian mining executive Michael O’Keeffe, Indian billionaire Anil Agarwal, and Indian diamond companies KGK Group and Kapu Gems.

Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers and retains important rights under the shareholder agreement. Mohwasa emphasized that Botswana has the flexibility to either join the preferred bidder as a strategic partner or exercise its pre-emptive rights independently or with another investor.

Industry observers believe the eventual owner will seek to preserve De Beers’ vertically integrated business model, spanning diamond mining, trading and global natural diamond marketing, while positioning the company to benefit from a potential recovery in natural diamond demand and prices.