DiamondBuzz
RJC introduces regulations for LGD segment
The Responsible Jewellery Council (RJC) has issued a comprehensive set of regulations on the ethical, social, human rights and environmental aspects of lab grown diamonds for its 2,000-plus members.v The 33-page document establishes responsible business practices throughout the jewelry and watch supply chain
Its Laboratory Grown Materials (LGMS) 2025 standard is a set of 28 provisions – from legal compliance, working hours and forced labor to health and safety, hazardous substances and grading analysis.
RJC members, among them De Beers, Lucara, Signet Jewellers, Leo Schachter, Cartier and Harry Winston, must have their facilities certified as compliant by the RJC within a year if they handle lab growns. Non-members are encouraged to use the LGMS to improve their business practices.
LGMS certification provides a strong system for assuring stakeholders, shareholders, customers and business partners that a company conducts its business responsibly says the London-based RJC
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
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