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.
Swarovski’s turnaround is sparkling brighter than ever, clocking 6% year-on-year organic growth in 2025 as its bold “LUXignite” strategy ignited real dividends. The Austrian family gem generated €1.97 billion ($2.26 billion) in revenue, fueled by its global network of 2,300 boutiques.
Pioneering “pop luxury” since 2022, the precision-cut crystal powerhouse shifted gears to jewelry-led dominance, supercharged by Grammy queen Ariana Grande’s 2023 ambassador gig—fusing high fashion with pop culture magic.
CEO Alexis Nasard said, “Our consistent progress continued in 2025 despite a challenging environment, as we delivered broad-based topline growth, strengthened profitability, and improved cash generation, while reaching new heights of brand desirability and anchoring the Swarovski brand as a cultural icon in the pop luxury space. The execution of the LUXignite strategy is delivering as intended.”
Growth lit up everywhere: Growth was broad-based across all regions and channels, led by North America, which rose 10%. The company also saw strong performance in its directly operated channels, including branded boutiques and its e-commerce platform. Swarovski said its business-to-consumer jewelry division continued to outperform the broader market, while its B2B segment benefited from renewed commercial plans and optimized manufacturing capacity. EBITDA climbed 12% on robust cash flows.
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