DiamondBuzz
Surat workers move to gold
528 ViewsAs global demand for natural diamonds wanes, some of Surat’s diamond cutting and polishing units have diversified their operations by turning to gold jewellery manufacturing to ride out the low business phase. The market for gold jewellery remains reasonably good. “The units have gradually started doing job work in jewellery manufacturing,” Gem and Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah was quoted by the Economic Times as saying. “Jewellery demand is increasing both in India and abroad, therefore, they are trying to leverage this opportunity. In this way, the units in Surat are trying to engage workers.” The demand for both gold and studded jewellery has picked up in India and abroad. However, demand for cut and polished diamonds is not expected to increase significantly in the near future as global uncertainty continues.
As global demand for natural diamonds wanes, some of Surat’s diamond cutting and polishing units have diversified their operations by turning to gold jewellery manufacturing to ride out the low business phase. The market for gold jewellery remains reasonably good.
“The units have gradually started doing job work in jewellery manufacturing,” Gem and Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah was quoted by the Economic Times as saying. “Jewellery demand is increasing both in India and abroad, therefore, they are trying to leverage this opportunity. In this way, the units in Surat are trying to engage workers.”
The demand for both gold and studded jewellery has picked up in India and abroad. However, demand for cut and polished diamonds is not expected to increase significantly in the near future as global uncertainty continues.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
-
BrandBuzz13 hours agoThe Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
-
BrandBuzz14 hours agoAugmont Launches SPOT 2.0: One Platform. Every Product. Efficient Business
-
BrandBuzz17 hours agoSenco Gold & Diamonds Launches “SHAPE OF YOU”- AI Application for Women’s Day Celebration
-
National News18 hours agoKushals Fashion Jewellery Curates Special Women’s Day Edit Celebrating Strength, Style and Self-Expression
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.