Congo signs diamonds deal with Swiss firm ADEX: Democratic Republic of Congo has signed an agreement with Switzerland-based diamond and gemstone technology firm ADEX ​Platform for the marketing of Congolese diamonds, under ‌which they will process the gemstones domestically. The agreement is aimed at boosting transparency, curbing smuggling and raising local value addition, ​the mines ministry said.

A Penny for De Beers’ troubles: Enter Gareth Penny, a man who many experts believe is the right guy for the job. Penny, 63, was De Beers CEO for five years and at the company for 22 years in total until 2010, so he is deeply familiar with the ins and outs of the business. A number of analysts who spoke to Currency this week say this is because any new owner has to have strong marketing experience, be well attuned to the business, have good relationships with Botswana and Namibia, and have access to capital. “If I look at the potential candidates who are looking to buy De Beers, Gareth Penny ticks all of those boxes,” says James Campbell, MD of Botswana Diamonds.

Russia holds nearly half the world’s diamond reserves: According to the US Geological Survey Mineral Commodity Summaries, global diamond reserves are estimated at 1.7 billion carats, with Russia alone holding almost half of the total. The country sits well ahead of Botswana, which holds 250 million carats, or 14.7% of the global total. A  further 250 million carats is held across other countries, while Angola and the Democratic Republic of the Congo (DRC) each account for 150 million carats, representing 8.8% of global reserves apiece. South Africa holds 87 million carats, or 5.1% of world reserves, while Zimbabwe rounds out the listed countries with 56 million carats, equivalent to 3.3%.

Angola rivals Botswana as top diamond supplier: Angola emerged as Africa’s second largest diamond producer by value in 2024, with a total diamond output worth $1.41-billion, marking a significant shift in the global diamond landscape that has been driven by Angola’s strategic production increases and Botswana’s intentional supply reductions, says diamond industry analyst Paul Zimnisky. Angola’s diamond sector has experienced substantial transformation, driven by post-civil war reforms, increased foreign investment and enhanced infrastructure.

Namdeb Holdings reports stable diamond reserves: Namdeb Holdings, the 50:50 joint venture between the Government of the Republic of Namibia and De Beers, has reported broadly stable diamond reserves alongside notable shifts in resource classifications, as it continues to navigate licence timelines, operational adjustments and volatile market conditions. The update is contained in Anglo American PLC’s 2025 Ore Reserves and Mineral Resources Report, with Namdeb’s estimates presented as at 31 December 2025 in line with the SAMREC Code (2016). The figures are reported on a 100% ownership basis, while Anglo American holds an 85% interest in De Beers. According to the report, most of Namdeb Holdings’ mining licences remain valid until 2035, while offshore licence ML 128C is set to expire in 2038.

The diamond empire shaken: Bhavesh Tank, Vice President of the Gujarat Diamond Workers Union (DWUG), said that at least one-third of diamond polishing workshops in Surat had not reopened after the 2024 Diwali holiday. A large number of workers have lost their jobs. Between February and June 2024 alone, an estimated 15,000 people became unemployed. Those who remained employed also experienced reductions in working hours and wages. Chotu Kumar, a 21-year-old man who used to earn 28,000 rupees per month, now only receives 13-14 rupees per carat, barely enough to cover his living expenses.

Amid the gloom, De Beers sees glimmer of hope: Data produced by De Beers in The Diamond Report this month acknowledges that the synthetic diamond industry has carved a niche for itself in the under-3ct market. But it also sees signs of hope. “Perhaps consumers feel synthetic lab-grown diamonds beyond this size look too big,” says Eirik Wærness, chief economist at De Beers. He predicts that retail mark-ups in lab-grown diamonds of up to 1,000% will not persist.

Alrosa unit suspends mining, transport operations for 3 months: Russian diamond miner Alrosa said on Friday that its subsidiary Severalmaz will suspend mining and transport operations from July 1 for around three months.Processing operations will continue during the period, supported by existing ore stockpiles, the company said. It said the decision was in line with its strategy to “maintain operational and financial resilience and to uphold discipline regarding the effective management of rough diamond sales flows in the diamond market”.

Five diamonds weighing 1.22 carats found during exploration in Chhattisgarh: Bulk sample testing at Chhattisgarh's Baloda-Belmundi diamond block recovered five stones weighing 1.22 carats. The find confirms diamond mineralisation but requires further assessment before any mining decision. According to NMDC-CMDC Limited, the diamonds were recovered from bulk samples collected from the Baloda-Belmundi Diamond Block in the Saraipali region of Mahasamund.

De Beers shares latest research on US consumer trends: Completed in 2026, the biannual study also found that Gen Z is spending almost double what Baby Boomers spend when buying natural diamonds – at $4,080 per piece vs $2,250 – and that while love-related purchase motivations remain the core driver of demand, personal motivations such as celebrating a new job, getting a promotion, recognising an achievement or ‘just because’ are increasingly driving diamond jewellery purchasing.

The study highlights that US consumers rank natural diamonds as their top preference for a luxury jewellery item, with 11% of women ranking natural diamond jewellery their most desired luxury gift. This places natural diamond desirability ahead of synthetic lab-grown diamonds (8%), other gemstones (5%) and plain gold jewellery (4%).

Messika’s new one-of-a-kind necklace is set with a 20.46-carat blue diamond from Botswana: Today, Messika unveils a spectacular new high jewelry creation with a massive blue diamond as its centerpiece. The jaw-dropping stone is the largest and rarest blue diamond ever to be uncovered in Botswana. It was discovered as a 41.11-carat rough in 2019 when it emerged from the Orapa mine. After cutting and polishing it revealed a Fancy Deep Blue VVS1 Type IIb 20.46-carat stone.

In Memoriam: Professor Mimi Ou Yang (1933–2026): The international gemological community has lost one of its great educators, researchers, and pioneers with the passing of Professor Mimi Ou Yang Chiu Mei, founder of the Hong Kong Gems Laboratory (HKGL), founder of the Hong Kong Institute of Gemmology (HKIG), internationally recognized Fei Cui jade researcher, and one of the most influential figures in modern jade studies. Known throughout the industry as “The Jade Lady” and the “Queen of Fei Cui,” Professor Mimi devoted more than six decades to the study, teaching, and promotion of jade. Her work transformed not only the understanding of Fei Cui, but also the way the international gem trade evaluates, identifies, and discloses treated jade today.

10.02-carat fancy intense blue diamond fetches $8.7 million: Sotheby's New York High Jewelry auction achieved a robust $43.4 million, significantly surpassing its $38.7 million high estimate, with 98% of lots sold. A 10.02-carat fancy intense blue diamond led the sale, fetching $8.7 million and marking the highest-priced jewelry lot of the spring season. Fancy-colored diamonds dominated, comprising six of the top ten lots, underscoring strong market demand.

IDMA urges individual members of its national associations to register and book now! “This Congress comes at a pivotal moment in the history of the global diamond business,” said Fasbio Cascapera, DES President and Chair of the Organizing Committee. “Everything will revolve around how we will keep natural diamonds – opposite synthetic diamonds – relevant and on the mind of the global consumer in a positive way.”