DiamondBuzz
RJC Introduces New Laboratory Grown Materials Standard
The Responsible Jewellery Council (RJC) has unveiled its new Laboratory Grown Materials Standard (LGMS), marking a significant step towards ethical and sustainable practices in the growing sector of laboratory-grown diamonds and coloured gemstones. As the jewellery and watch industry evolves, this new standard sets a clear benchmark for responsible sourcing and production in these emerging markets.
With consumers becoming increasingly conscientious, laboratory-grown diamonds and gemstones are gaining popularity, offering a more ethical and sustainable alternative to mined stones. The LGMS establishes comprehensive guidelines for RJC members working with these materials, ensuring that every product is crafted with care for both people and the planet.
Dave Meleski, Chairman of the Responsible Jewellery Council, stated,
“Our mission at RJC is to promote responsible business practices across the jewellery sector—from the mine or laboratory to the retail space. With the LGMS, we’re not just establishing a standard, we’re creating a vision for a future where elegance and ethics coexist. We believe that whether a diamond is mined or lab-grown, it can be celebrated without compromising our core values.”
The LGMS covers all facets of responsible business conduct, including legal compliance, management systems, due diligence, human rights, labour rights, health and safety, environmental management, appraisal and grading, and disclosure.
John Hall, interim Executive Director of the RJC, added,
“Our goal is to create an environment of trust where both buyers and sellers can engage with confidence. By implementing the LGMS, we ensure that best practices are upheld from the laboratory to the consumer.”
To support this mission, the LGMS places a strong emphasis on robust company management systems to guarantee responsible and transparent supply chains. Each RJC member must document and implement technical requirements that impact all stages of the process. This helps to mitigate risks, improve working conditions, benefit local communities, and maintain the integrity of every lab-grown gemstone. Transparency throughout the supply chain is key to fostering trust, ensuring that consumers can make well-informed purchasing decisions.
For the first year following its launch, the LGMS will be voluntary for existing RJC members. After this initial phase, it will become mandatory for all members working with laboratory-grown materials. This gradual transition will give members the time and resources they need to meet these essential standards.
In addition, the RJC will offer optional training, educational modules, and simplified auditing processes, making it easier for members to comply with both the LGMS and the existing Code of Practices (COP).
With the introduction of the LGMS, the RJC is making responsible luxury the standard, not the exception, in the watch and jewellery industry. Through its LGMS, COP, and COC, the RJC reaffirms its role as the leading authority in setting industry standards.
DiamondBuzz
De Beers, Endiama report first new kimberlite field in over 30 years in Angola
De Beers Group, in partnership with Angola’s Endiama, has discovered a new kimberlite field—its first in over 30 years—during initial drilling in July 2025. The find marks a major milestone in their long-term collaboration to responsibly develop Angola’s diamond resources.
De Beers Group, in partnership with Angola’s national diamond company Endiama, has reported the discovery of a new kimberlite field in Angola—the company’s first such find in over 30 years.The breakthrough occurred in July 2025, when the joint venture intersected kimberlite in its very first drill hole, targeting a cluster of high-priority sites identified through airborne surveys earlier in March 2025.
In the months ahead, De Beers and Endiama will carry out additional drilling, ground geophysical studies, and laboratory testing to confirm the nature of the kimberlite and evaluate its diamond-bearing potential.The find marks a significant milestone in the partnership between De Beers and Angola. It comes on the back of two Mineral Investment Contracts signed in April 2022 and a Memorandum of Understanding agreed at the 2024 Mining Indaba. These agreements have laid the foundation for a long-term collaboration focused on responsibly developing Angola’s diamond resources.
Al Cook, CEO of De Beers Group, said: “Angola is, in our view, one of the best places on the planet to look for diamonds, and this discovery reinforces our confidence. It is a powerful reminder of what can be achieved through partnership, and I commend President Lourenco and his government for all the work they have done to enhance transparency, adopt international best practices, and create a business friendly environment, all of which has enabled us to return to Angola and seek new sources of supply. We are excited about the role De Beers can play in helping the country deliver on its huge potential, both below and above the ground.”
DiamondBuzz
BlueStone Jewellery Rs 1,541 crore IPO subscribed 66%
BlueStone Jewellery and Lifestyle’s ₹1,541 crore IPO has reached 66% subscription on the final bidding day, with QIBs leading at 85% of their allotted quota.
BlueStone Jewellery and Lifestyle’s Rs 1,541 crore IPO has been subscribed 66% overall as per the latest update on the third and final day of bidding. Among investor segments, Qualified Institutional Buyers (QIBs) have shown relatively stronger interest, having subscribed to 85% of their allotted portion.
BlueStone plans to raise up to Rs 1,541 crore via its IPO, comprising a fresh equity issue of Rs 820 crore and an OFS of 1.39 crore shares by existing investors, including Accel India III, Saama Capital II, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal.
Ahead of the IPO launch, BlueStone secured Rs 693 crore from anchor investors. In the grey market, the response to the issue has been lukewarm, with the IPO trading at a modest premium of just 0.4% over its issue price of Rs 517 per share.
The latest Grey Market Premium (GMP) for BlueStone Jewellery’s IPO is hovering between Rs 2-4 above the issue price of Rs 517 per share. This points to a potential listing price of around Rs 520, implying a modest estimated gain of about 0.4% per share.
DiamondBuzz
Alrosa Revenue Drops 25% Amid Sanctions and Inflation, Despite Profit Bump from Asset Sale
Order for lab-grown polished diamonds to be executed in 3 months; company strengthens foothold in Far East market
Russian diamond giant Alrosa reported a 25% drop in revenue for the first half of 2025, citing geopolitical tensions, global sanctions, and macroeconomic headwinds such as high interest rates and inflation as key factors behind weakening demand and rising costs.
Revenue for the January–June period fell to 134.3 billion roubles, while core earnings (EBITDA) dropped 42% to 37.1 billion roubles, the company said on Tuesday. The state-backed miner noted that elevated borrowing costs, inflationary pressures, and higher taxes continue to erode profitability.
Alrosa, which has been under U.S. sanctions since 2022, is grappling with increasing isolation in global markets. In January 2024, G7 countries imposed a direct ban on Russian diamond imports, followed by additional restrictions on Russia-origin diamonds routed through third countries—a move also backed by the European Union.
Despite these challenges, Alrosa posted a 10.8% year-on-year rise in net profit to 40.6 billion roubles ($506.7 million) for H1 2025, buoyed largely by a one-time gain from the sale of its 41% stake in Angola’s Catoca diamond mine. The deal, finalised in May 2025, transferred Alrosa’s stake to a subsidiary of Oman’s sovereign wealth fund, amid pressure on Angola to cut ties with Russian entities due to ongoing Western sanctions.
The sale brought in 15.9 billion roubles, helping partially offset the operational downturn. Prior to the deal, Catoca was jointly owned by Alrosa and Angola’s national diamond company, Endiama EP.
Meanwhile, Alrosa’s net debt soared nearly tenfold to 61 billion roubles, although its liquidity position remained stable, with cash, equivalents, and bank deposits rising 8.4% to 115.4 billion roubles.
“The relatively high level of the key rate and inflation continued to have an additional negative impact on the group in the first half of 2025,” the company stated, highlighting rising fuel and material costs.
Russia’s central bank recently began easing monetary policy, cutting the key interest rate from 20% to 18% in late July, offering some hope for relief in the second half of the year.
Alrosa remains the world’s largest producer of rough diamonds by volume, but faces ongoing hurdles in maintaining global market access amid increasing geopolitical friction.
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