DiamondBuzz
Russian diamond sanctions plan likely to be delayed
Industry members and government officials involved in the discussions over Russian diamond sanctions expect that a full traceability regime won’t be implemented by the current March 1 deadline.
The European Union (EU) had already postponed its plan to require origin information for every diamond of 0.5 ct. or more from Sept. 1, 2024, until March 1, 2025. And now it looks like the plan won’t be ready by March 1 either.
Sources say the process has become jammed up with technological issues, knotty policy debates, and a new administration in the United States.It’s generally agreed that the technology for full traceability isn’t there yet, at least on the scale envisioned by the G7. Trials have shown it’s possible to track rough diamonds; however, implementing a global system that offers true rough-to-polished traceability remains a challenge, sources say. A number of producing countries, including Botswana and Namibia, have been tapped to set up “rough nodes,” but that’s very much a work in progress.
DiamondBuzz
Richemont and Signet Jewelers Could Join Global Diamond Consortium In Bid For De Beers
Richemont, Signet Would Connect The Consortium To Key Global Growth Vectors Spanning Luxury High Jewelry and Mass-Market Retail.
The Global Diamond Consortium (GDC)
Richemont and Signet Jewelers are reported to be in talks about joining the Global Diamond Consortium (GDC), the preferred bidder for De Beers according to a Bloomberg News report.
GDC was selected in July 2026 as one of Anglo American’s preferred bidders for De Beers as part of Anglo American’s ongoing corporate restructuring.
The potential inclusion of Richemont—owner of luxury Maisons including Cartier and Van Cleef & Arpels—and Signet Jewelers—the world’s largest retailer of diamond jewelry, operating brands such as Kay Jewelers, Zales, and Jared—would connect the consortium to key global growth vectors spanning luxury high jewelry and mass-market retail.
Strengthening the Natural Diamond Ecosystem: Participation by major luxury brands and global retail leaders reinforces commitment across the entire value chain—from responsible mining and manufacturing to consumer engagement.
Balanced Governance Structure: Discussions center on potential minority equity positions that would support long-term category growth while maintaining appropriate separation between ownership and commercial strategy.
Broad Stakeholder Participation: The consortium continues to advance talks with host governments, including discussions with the Government of Botswana regarding a potential increase in its equity share in De Beers from 15% to approximately 25%, alongside participation from private investors and southern African host nations.
Discussions between GDC, Richemont, Signet, and participating government stakeholders remain ongoing. Terms of any potential participation, including the size of equity interests, have not been finalized and remain subject to regulatory approvals and definitive documentation.
-
TechBuzz21 hours agoK. Srinivasan Unveils Doit Coimbatore Experience Centre
-
GlamBuzz22 hours agoKalyan Jewellers’ Navratri Celebrations Bring Stars From All Industries To Thrissur
-
National News21 hours agoIFSCA Notifies India Good Delivery Gold Framework
-
National News22 hours agoWorld Gold Council Unveils Immersive Gold Experience At Phoenix Palladium, Lower Parel, Mumbai
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.