International News
WFDB announces Presidents’ Meeting 2025 in New York City
The World Federation of Diamond Bourses (WFDB) said its next Presidents’ Meeting will be held on 10 -11 June in New York City, hosted by the Diamond Dealers Club of New York.
The annual Presidents’ Meeting is an important international event, convening senior representatives of the 27 member bourses and major players from throughout the diamond pipeline. It will explore the most pressing issues facing the world diamond industry in expert panels and discussions. Last year’s Presidents’ Meeting was held in Shanghai in March 2024 and was well-attended by participants from around the world.
WFDB President Yoram Dvash is calling on all players in the international diamond industry to attend the meeting. “We are holding the Presidents’ Meeting this year right after the JCK Show in Las Vegas to appeal to as wide an audience as possible. The diamond industry is facing many challenges in demand, pricing and marketing. This is the time when we need to come together, to hear all the stakeholders and to discuss industry-wide changes. I urge you all to plan to attend this very important meeting.”
DiamondBuzz
Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025
Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.
Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.
Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.
However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.
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