Manufacturers
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Feb- 2025 -19 February
Céline Assimon steps down as De Beers CEO
De Beers CEO Céline Assimon has stepped down from her role after nearly five years. Assimon joined De Beers in September 2020 and succeeded former CEO François Delage. A year later,she was appointed as the head of both De Beers Jewellers and De Beers Forevermark. Prior to joining De Beers,…
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17 February
Richard Duffy steps down as Petra Diamonds CEO
Petra Diamonds has announced that Richard Duffy has resigned as CEO and director of the company by mutual agreement and with immediate effect. Vivek Gadodia and Juan Kemp have been appointed as joint interim chief executive officers. Gadodia will have responsibility for all group corporate matters and Kemp will have…
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14 February
January diamond prices drop in slow market
The diamond market was slow in January, with mixed reports about holiday sales, according to Rapaport’s RapNet Diamond Index. Diamond prices declined, with some improvement in 0.30- to 0.50-carat, and 1 carat diamonds — reflecting round D to F, IF to VVS2 goods, which saw a 0.4%, 0.6% and 2.3%…
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11 February
De Beers lowers production guidance amid challenging trading conditions
De Beers Group has lowered its production guidance for 2025 to 20–23 million carats (previously 30-33 million carats), reflecting the challenging rough diamond trading conditions. Although rough diamond sightholder sales for the quarter improved to 4.6-million carats for $543m (£437.1m) in revenue, compared with the 2.8-million carats sold for $230m…
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4 February
De Beers and Botswana secure rough diamond sales agreement
The Government of the Republic of Botswana (GRB) and De Beers Group have agreed a deal establishing a new sales agreement for Debswana’s rough diamond production. Alongside this, the deal has extended Debswana’s mining licences in the country beyond 2029. This development is in alignment with the heads of terms…
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Jan- 2025 -14 January
HS Walsh and Sons awarded Royal Warrant
HS Walsh and Sons, a supplier of horological tools and equipment, has been awarded a Royal Warrant. The business was first granted a Royal Warrant from Queen Elizabeth II in 2016 which was renewed in 2021. With the ascendance of King Charles III the company sought to obtain his appointment…
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Dec- 2024 -23 December
Petra Diamonds revenues drop 7% despite 17% rise in volumes
Petra Diamonds has reported a 7% drop in tender three FY 2025 sales to $71m (£56.6m) despite selling 700,803 carats, up 17% compared with the combined 600,161 carats sold in tenders one and two. The group stated that its sales were affected by a continued weak market across most size…
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Oct- 2024 -31 October
Peggy Grosz leaves Assael
Peggy Grosz, senior vice president and creative director of Assael Inc, has left the company following its recent sale to a group of industry individuals. She announced she will be pursuing new design and product development challenges following a short hiatus. Grosz joined Assael in 2017, reviving the 78-year-old legacy…
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29 October
AG Group announces in-house assay office
Allied Gold and Brown and Newirth owner AG Group has announced that it has opened an in-house assay office at its group headquarters. The move follows a historic agreement with the Sheffield Assay Office, marking the first-ever fine jewellery manufacturing Sheffield sub-office. The partnership has received full approval from the…
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28 October
De Beers production drops 25% in Q3
De Beers Group has recorded a 25% decrease in production to 5.6 million carats in the third quarter. The company attributed the drop to prolonged periods of lower demand, higher than normal levels of inventory in the midstream and a continued focus on managing working capital. In Botswana, production decreased…
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