International News
Rio Tinto Unveils Rare 158ct Yellow Diamond from Diavik Mine in Canada
One of the largest gem-quality yellow diamonds ever discovered in Canada, the 158.20-carat gem is a remarkable find as Diavik Mine nears closure.
Rio Tinto has uncovered a rare and exceptional 158.20-carat yellow diamond at its Diavik Mine in Canada, marking one of the largest gem-quality yellow diamonds ever found in the country. This stunning discovery is also among only five yellow diamonds weighing over 100 carats to be unearthed by the company at Diavik throughout its 22-year history. Notably, Diavik is primarily known for producing white diamonds, with less than 1% of its output being yellow stones.
The Diavik Mine, which is set to close next year, is also responsible for several significant yellow diamond finds, including Canada’s largest yellow diamond, a 552.74-carat gem discovered in 2018, and the 187.7-carat Diavik Foxfire found in 2015.
With the closure of the Argyle mine in Australia in 2020, Diavik is now Rio Tinto’s sole diamond asset. Patrick Coppens, General Manager of Sales and Marketing for Rio Tinto’s diamond business, expressed excitement over the unique beauty and purity of the Diavik diamonds, eagerly anticipating the future of this extraordinary find.
International News
JA Lobbies For Exemptions As US Threatens 100% Tariffs
To Shield The Supply Chain, JA Is Petitioning Washington To Place Diamonds, Gemstones, and Pearls On The U.S. Annex II List, Which Designates Products Eligible For Duty-Free Entry Into The United States.
– Jewelers of America (JA) has intensified its lobbying efforts in Washington to secure sweeping tariff exemptions for diamonds, gemstones, and pearls, as new legislation opens the door to potential 100% duties on imports from major trade partners including India.
The industry group sent a delegation of executives and members to Capitol Hill on Sept. 15 for its annual “Fly-In” event, pressing lawmakers to safeguard the trade from broad trade penalties aimed at supporters of Russia’s energy sector.
The delegation, led by JA President and Chief Executive David J. Bonaparte, met with key lawmakers, including Senators Dick Durbin and Susan Collins and Representatives Jim Jordan and Dave Joyce.
The increased lobbying push coincided with Congress weighing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. Passed by the House of Representatives on Sept. 16 and signed into law by President Donald Trump on Sept. 18, the legislation grants executive authority to levy tariffs of up to 100% on the five largest buyers of Russian oil and natural gas, as well as top facilitators of sanctions evasion.
India, a primary global hub for diamond cutting and polishing, is among the top buyers of Russian crude and faces potential exposure under the law’s discretionary tariff authority.
To shield the supply chain, JA is petitioning Washington to place diamonds, gemstones, and pearls on the U.S. Annex II list, which designates products eligible for duty-free entry into the United States.
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