DiamondBuzz
US diamond importers can self-certify mining Source: JVC
Importers will not need to submit proof of a diamond’s country of mining when registering shipments to the US but should keep the right documentation for inspection, according to guidance the Jewelers Vigilance Committee (JVC) released last week.
In January, US Customs and Border Protection (CBP) announced a requirement to state the “country of mining” for all imports of diamonds and diamond jewelry entering the country. Earlier this month, the government agency told industry members these declarations “should be verifiable with the documentation provided with the entry.”
However, these papers will not be mandatory when filing shipments in the Automated Customs Environment (ACE) processing system, the JVC explained in a member alert last Thursday.
“We’ve been told that the additional documentation (proof of origin) isn’t going to be required by the ACE system,” Sara Yood, the JVC’s CEO and general counsel, clarified in a separate email to Rapaport News on Tuesday. “An importer can choose to upload it with an entry, or they can leave it out but will need to provide it when shipments are spot-checked at customs.”
CBP continues to require self-certification statements for applicable diamond imports to verify they do not contain Russian inputs, the legal guidance group said in the member alert. The new rules, which will go into effect in April, apply to loose diamonds and finished jewelry, but not to lab-grown diamonds, the JVC explained. CBP has “acknowledged” certain provisions for “grandfathered” goods — diamonds that predate sanctions on Russia — but has not confirmed how entry will work, the committee pointed out.
DiamondBuzz
Alrosa Plans To Expand Diamond Production Through Severalmaz
Outlines An Expansionary Roadmap and Diversification Strategy Amid Market Volatility
Alrosa has confirmed a strategic pivot toward aggressive capacity expansion via its wholly-owned subsidiary, Severalmaz. Currently contributing approximately 10% to the Group’s aggregate output, Severalmaz is slated to become a primary engine for long-term value creation.
Despite prevailing macroeconomic headwinds and a softening in global demand for natural stones, Alrosa reported that the Lomonosov deposit maintained a stable production baseline, yielding an annualized run-rate of approximately 3.5 million carats through FY24 and FY25.
Key Strategic Pillars:
- Operational Resilience: CEO Pavel Marinychev emphasized that Severalmaz serves as a systemically important entity within the Arkhangelsk regional economy, providing a “solid foundation” for the Group’s multi-decade development cycle.
- CAPEX & Exploration: The firm is committed to significant capital expenditure directed toward greenfield exploration and the modernization of existing mining infrastructure to drive operational alpha and safety.
- Portfolio Diversification: To hedge against cyclical diamond market downturns, Alrosa is actively de-risking its balance sheet by diversifying into gold mining and offloading approximately 30% of its inventory to Gokhran to ensure consistent liquidity flows.
- R&D Synergies: The roadmap includes deep integration with regional scientific-industrial hubs to optimize extraction efficiencies and future-proof the production pipeline.
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