Natural Diamonds Show Resilience Through Transparency, Producer Growth and Global Market Evolution

 

DRC Artisanal Diamonds Achieve Strong Results in Antwerp Auction

Artisanal diamonds from the Democratic Republic of Congo (DRC) have achieved a positive result in Antwerp, selling above expectations in a landmark auction designed to improve market access for small scale diamond producers.

The sale, organised by the Antwerp World Diamond Centre through its OrigemA programme, featured 103.77 carats of fully traceable rough diamonds sourced from artisanal mining cooperatives in the DRC.

The diamonds achieved an average price of $66 per carat, exceeding the estimated market value of $58 per carat. The total sale value reached approximately $6,000, demonstrating the potential for responsibly sourced artisanal diamonds to compete successfully in the international marketplace.

OrigemA was created through collaboration between Belgium and the DRC to connect artisanal miners with global diamond markets. The programme aims to ensure that more value from diamond production remains within local communities, supporting areas such as mining development, agriculture, healthcare and education.

Karen Rentmeesters highlighted that the auction demonstrated Antwerp’s continued role as a leading rough diamond trading centre, where international competition helps achieve fair market pricing.

The result also reflects a wider industry movement toward greater transparency, traceability and responsible sourcing as consumers increasingly seek confidence in the origins of natural diamonds.

Diamond Industry Adapts as Producer Countries Take a Greater Role

The natural diamond industry continues to adjust to changing consumer behaviour, economic uncertainty and evolving market conditions. However, industry leaders believe important foundations are being created for future growth.

World Federation of Diamond Bourses president Yoram Dvash noted that one of the most encouraging developments is the increasing participation of African producer nations across the diamond value chain.

Countries including Botswana and Angola have strengthened their involvement through their affiliation with the WFDB, while other producing nations such as Rwanda are also seeking a larger role in shaping the future of the diamond sector.

This reflects a broader shift where producer countries are looking beyond mining and becoming more involved in trading, manufacturing, marketing and value creation.

The potential future ownership changes surrounding De Beers, currently controlled by Anglo American, further highlight the changing structure of the global diamond industry.

Greater participation from producing countries could create stronger alignment between miners, manufacturers, traders and retailers, helping build a more balanced and sustainable diamond ecosystem.

Traceability and Consumer Confidence Become Industry Priorities

Transparency remains a major focus for the diamond sector as companies work to strengthen consumer trust.

The acquisition by Gemological Institute of America of a stake in De Beers’ Tracr platform represents continued movement toward verified diamond provenance and digital traceability.

As laboratory grown diamonds become more prominent in the market, the natural diamond industry is placing increasing emphasis on communicating the rarity, geological history and emotional value of natural diamonds.

Industry leaders continue to stress the importance of investment in marketing and education to help consumers understand the differences between natural and synthetic diamonds.

Russia Holds the Largest Share of Global Diamond Reserves

Global diamond supply remains concentrated among a small number of countries, with Russia holding the largest known reserves.

Russia accounts for almost half of the world’s diamond reserves, significantly ahead of Botswana, which holds approximately 250 million carats, representing around 14.7% of global reserves.

Other major reserve holders include Angola and the Democratic Republic of Congo, each with approximately 150 million carats, while South Africa holds around 87 million carats and Zimbabwe approximately 56 million carats.

Together, Russia and Botswana account for close to 60% of global diamond reserves, highlighting the concentration of future supply potential.

Africa continues to play a central role in the natural diamond industry, with Botswana, Angola, the DRC, South Africa and Zimbabwe collectively representing a significant share of known reserves.

The Future of Natural Diamonds

The diamond industry is entering a period of transformation. Greater producer involvement, improved traceability, responsible sourcing and renewed consumer education are reshaping the market.

While challenges remain, the continued focus on transparency and cooperation across the diamond pipeline provides a pathway toward a stronger future for natural diamonds.

The industry’s ability to adapt while preserving the rarity and uniqueness of natural diamonds will remain central to maintaining consumer confidence and long term value.

Source: DCLA

Russia Moves to Ban Lab Grown Diamond Terminology in Major Industry Shift

 

The global diamond industry is facing another major terminology debate as Russia introduces some of the strictest rules yet regarding the sale and description of laboratory grown diamonds.

From 1 September 2026, new Russian regulations will restrict how synthetic diamonds can be marketed, with the aim of creating a clearer distinction between natural diamonds and stones produced through laboratory technology. Under the new rules, the word “diamond” and related terms will be reserved for natural diamonds, while laboratory created stones must be identified as “synthetic”.

New Rules Focus on Consumer Transparency

The Russian government has stated that the changes are designed to improve transparency and prevent consumers from confusing synthetic stones with natural diamonds. Retailers will be required to clearly disclose the origin of the stone, and synthetic diamonds will need to be labelled accordingly.

The new regulations also restrict the use of traditional diamond terminology when describing synthetic stones. Words associated with natural diamonds, including “natural”, “genuine”, “real”, “precious”, “mined” and similar descriptions, will not be permitted in connection with synthetic products.

In addition, synthetic stones will not be marketed using traditional diamond grading language relating to colour, clarity or carat weight. Instead, their weight must be disclosed in grams rather than carats under the new framework.

A Clear Divide Between Natural and Laboratory Created Diamonds

The move reflects a growing global discussion about how the jewellery industry communicates the difference between natural diamonds and laboratory grown diamonds.

Natural diamonds are formed deep within the Earth over billions of years and are valued for their rarity, geological history and limited supply. Laboratory grown diamonds are created using advanced technology that replicates the conditions required for diamond formation, producing stones with the same chemical composition and crystal structure as natural diamonds.

The key difference is not the material itself, but the origin and rarity.

Impact on the Global Diamond Market

Russia is one of the world’s largest producers of natural diamonds, and the introduction of stricter terminology rules comes at a time when laboratory grown diamond production has expanded rapidly worldwide.

The rise of laboratory grown diamonds has transformed parts of the jewellery market, particularly among consumers seeking larger stones at lower prices. However, the significant price decline of many laboratory grown diamonds has also raised questions about long term value, resale potential and the role of rarity in diamond ownership.

For the natural diamond industry, clear terminology remains a central issue. Industry organisations have long argued that consumers should understand exactly what they are purchasing and that natural diamonds and laboratory grown diamonds should not be marketed in a way that creates confusion.

The Importance of Independent Diamond Certification

As the market continues to evolve, independent diamond certification remains essential. A professional grading report provides consumers with confidence by identifying whether a stone is natural or laboratory grown and documenting its characteristics.

Laboratories such as the Diamond Certification Laboratory of Australia play an important role in maintaining transparency and trust within the diamond trade through scientific examination and accurate reporting.

The Russian decision highlights a broader global movement towards clearer diamond disclosure. As technology continues to reshape the industry, accurate terminology and independent verification will remain critical in protecting consumer confidence.

Source: DCLA

Alrosa Reports Strongest Diamond Demand in Eight Years

 

Russian diamond producer Alrosa has reported its highest level of customer interest in eight years, with diamond viewings during May more than doubling compared with the same period last year.

According to the company, the strongest demand was concentrated in diamonds exceeding 10.80 carats and rare fancy colour diamonds. The increase reflects a growing appetite for high value and investment grade diamonds at a time when supplies of large natural stones remain constrained.

Alrosa noted that approximately 80% of its 2 to 10 carat diamond assortment has recorded price increases of between 6% and 9% since the beginning of the year. These categories are commonly sought by collectors, investors and high end jewellery manufacturers.

The company conducts a substantial portion of its sales through auctions and tenders, including electronic bidding platforms that allow clients to purchase stones without physically inspecting them. Traditional viewings continue to be held through the United Selling Organization, the central hub of Alrosa’s diamond distribution network.

Dmitry Beresnev, Deputy Chief Executive Officer of Alrosa and Director of the United Selling Organization, stated that demand for large and rare fancy colour diamonds is increasing in response to growing shortages within this segment of the market.

He added that the number of viewings conducted during May nearly doubled the annual average and exceeded pre-pandemic levels recorded in 2019, suggesting a gradual recovery in global diamond demand.

JCK Las Vegas Highlights Growing Demand for Lab Grown and Affordable Luxury Jewellery

At the recent JCK Las Vegas jewellery exhibition, jewellery manufacturer Stuller unveiled a range of new products reflecting changing consumer preferences across the jewellery sector.

Among the new introductions were fancy shaped laboratory grown diamonds, including elongated ovals, old mine elongated cushions and octagonal cuts, available in both brilliant and step cut faceting styles. The company has also expanded its natural diamond offering to include old mine elongated cushion shapes, a vintage inspired cut that continues to gain popularity.

Stuller also revealed new laboratory grown gemstone colours including magenta, periwinkle and mauve, broadening design options for contemporary jewellery collections.

In response to record gold prices and ongoing inflationary pressures, the company has significantly expanded its demi-fine jewellery range. The collection includes sterling silver, 18 carat gold plated, 14 carat gold filled and vermeil jewellery, providing consumers with more affordable luxury alternatives.

The growing demi-fine category has become increasingly attractive to consumers seeking everyday jewellery with premium styling at accessible price points.

Another notable launch was Stuller’s new gemstone selector set, designed to assist customers in visualising gemstone sizes, proportions and shapes before purchase. The set includes emerald, round, pear, oval, square and marquise shapes and aims to improve the jewellery selection process for both retailers and consumers.

Market Perspective

The developments reported by both Alrosa and Stuller highlight two significant trends currently shaping the diamond and jewellery industry. On one hand, demand for large, rare natural diamonds continues to strengthen amid tightening supply. On the other, rising precious metal prices and changing consumer spending habits are accelerating growth in laboratory grown diamonds and demi-fine jewellery categories.

Together, these trends illustrate an increasingly bifurcated market, where high value natural diamonds remain sought after by collectors and investors, while affordability and versatility continue to drive growth in alternative luxury segments.

ALROSA Shifts Strategy as Investment Diamond Sales Surge 40%

 

Russia’s state-backed diamond giant, ALROSA, has reported a sharp rise in demand for investment-grade diamonds, with sales increasing by 40% over the past year highlighting a growing shift toward diamonds as a tangible store of wealth.
The surge has been driven by ALROSA’s strategic focus on polishing and distributing high-quality stones directly to private investors. These include colourless diamonds above 2 carats, ranging from D to F colour and IF to VS2 clarity, as well as rare fancy-coloured diamonds. Entry prices for these investment stones typically begin at around $20,000, placing them firmly in the high-net-worth category.
Rather than relying on traditional open tenders, ALROSA is increasingly channelling its premium stones through its Diamond Exclusive programme an initiative launched in 2019 to connect rare diamonds directly with wealthy clients via Russian banking partners. This approach provides the company with greater control over pricing and distribution, while offering investors a more streamlined acquisition process.
A key incentive behind this rising demand is the exemption from Russia’s 20% VAT on investment-grade diamond purchases. This tax advantage, combined with ongoing volatility in global financial markets, has positioned diamonds as an appealing alternative asset alongside gold and other physical stores of value.
The programme has gained significant traction since 2022, when G7 sanctions disrupted Russia’s access to traditional diamond trading channels. What began as a niche offering has since evolved into a meaningful revenue stream for the miner.
Speaking in Moscow on 16 April, Sergey Takhiev, ALROSA’s Head of Corporate Finance, confirmed the increase in investment diamond sales, although specific volumes were not disclosed.
Takhiev also pointed to tightening supply dynamics supporting long-term price growth. “Diamonds over 3 carats those most suitable for investment represent just 1–2% of global production,” he noted. “A shortage in this category is already becoming evident.”
With global diamond output declining and high-quality stones becoming increasingly scarce, ALROSA is positioning investment diamonds as a rare and finite asset class one that may see continued upward price pressure in the years ahead.

Souce: DCLA

Alrosa Profits up 88% Despite G7 Sanctions

 

Alrosa reported an 88% jump in its FY2025 profits, as it cut costs, improved efficiency, diversified into gold and benefited from a weaker ruble.

Russia’s state-controlled miner has been selling rough to India, China and elsewhere since the G7 nations imposed full sanctions in March 2024.

Net profit for FY2024 plunged by 75% as a result of the sanctions, down to RUB 21.2bn ($248m).

But it rebounded last year, up to RUB 36.2bn ($468m), according to the company’s full-year 2025 financial disclosure, dated 27 February.

Revenue slipped by 1.7% year-on-year to RUB 235.1bn ($3.04bn), but earnings (EBITDA) were up 26% to RUB 57.8bn ($748m).

The company produced 29.7m carats, a 10% drop from the previous year, sold 26.2m carats, a 20% drop from the previous year, and stockpiled the remainder.

The surge in profits came as Alrosa shuttered unprofitable diamond mines and diversified into gold as a strategic buffer against diamond market volatility and sanctions.

It invested RUB 8.3bn ($105m) in the Degdekan Project, projected to yield 3.3 tonnes of gold annually by 2030, and is exploring the potential for gold extraction from tailings at its Mirny mine.

“In 2025, the diamond industry continued to be pressured by several factors, including geopolitical and macroeconomic uncertainty and changing consumer preferences, which led to a decline in jewelry demand and an increase in diamond inventory in the cutting and polishing sector,” the company said.

“To stabilize the market, major diamond producers continued to limit supply and reduce prices. This strategy partially stabilized the negative diamond price dynamics.

“In the short term, the challenging market situation will persist: excess inventory in the midstream, as well as the ongoing imbalance between supply and demand, will continue to put pressure on prices and limit the potential for increased sales volume for the group.”

Source: DCLA

TAGS FEBRUARY 2026 DUBAI MARKET & TENDER REPORT

 

There appears to be an improvement in both overall mood and confidence amongst buyers this month. We believe the reason behind this has been the recent behaviour of the leading producers, De Beers, Alrosa, and Angola. If we look at the last quarter of 2025, all 3 producers were distributing broadly, substantial volumes of goods, whether in boxes or special deals across all the major centres to anyone willing to buy. However, by the year end all 3 producers tightened distribution significantly. De Beers only sold a “special deal” to one customer, as did Alrosa, and Angola (Catoca) reduced from ten boxes to just three. Luelle followed suit reducing from ten boxes to just five. This served to tighten both supply and distribution.

The sale of De Beers by Anglo American continues with ongoing speculation as to which consortium will be the purchaser. Following the publication of De Beers full year figures released on 20 th Feb, there was a further $2.3 billion write down of the company. This is the third write down in as many years bringing the company to a $2.3 billion valuation.

We believe that once a clear leadership role is established, it will provide a further boost to confidence within the industry.

Rough

As seen recently larger sizes of rough +10cts remain in good demand, as do the 5-10ct ranges reflecting strong prices, where 2 carat polished is in good demand. 2-4 carat goods are also strong, but it seems this has still to be reflected fully in the polished prices of 4grs. The 3-6grs, which for several months have been less popular, have seen a resurgence in demand primarily since De Beers adjusted their prices last month, however again this demand is surprising because sales of pointer polished remain slow.

An area of significant change has been the smalls -3grs. While price in these areas remains key, we are seeing some demand. This is in stark contrast to the situation at the end of 2025, just 6 weeks ago, when customers had no appetite to even look at the goods.

Last week De Beers informed its customers that some goods could be refused prior to the Sight without negatively impacting the customers ‘demonstrated demand’ quota. These were primarily in some area -3gr +7, and -7, and all Near Gem and Industrial boxes. This might indicate that there will currently be no price adjustment made in these areas during the February Sight.

Overall, it is expected that again De Beers will keep distribution tight which will continue to help the market. Alrosa commenced sales this week and echoed the general sentiment, with prices in the 2-10ct ranges increasing by between 3-5%. Mid-range sizes 4-6grs reduced by 2-3%, to fall in line with market prices. -9 sizes have also been reduced to reflect current market price.

All these adjustments are broadly aligned to market demand, so although perhaps fragile, as polished sales are slow, the market seems to be finding an equilibrium.

ODC sales run from 16 th – 25 th Feb, where they will present 972,000 carats, including some ROM parcels purchased last Oct.

Polished

Polished prices seemed to have slowed their decline in several areas, noticeably 0.30-1.00 carat sizes. Overall, polished markets at retail level are seasonally quiet. In US there has been demand for 1.50 carat and larger in Rounds and Fancy shapes, and Valentines sales look positive. Indian polished demand slowed slightly due to high gold prices, and China remains weak.

The Interim Agreement framework, between US and India, announced in early February, under which zero tariffs will be applied to diamonds and coloured gemstones entering the US from India has been unanimously welcomed. Currently tariffs have been reduced to 18% (effective March 2026) which will provide immediate relief and once the agreement is concluded full zero tariff should revive competitiveness. The effect of tariffs last year resulted in a 60% fall in polished diamonds exports to the worlds leading market. It is expected that India may pause exports to the US, while final terms are discussed. Tariffs on finished jewellery will remain at 18%.

TAGS Tenders

We presented our latest tender from 16 th – 20 th Feb. The event consisted of a full range of size categories and qualities with an emphasis on +5 carats. The value was more than $16m, and we welcomed well over 100 companies to view. We concluded a sell through of 60% to a total of 46 international companies. As expected, the strongest bidding took place in the larger sizes and higher qualities.

Our regular tender of high quality Southern African production commences on 1 st March until 6 th March, and this will be followed by another Zimbabwe production from ZCDC, which will run from 8 th -12 th March.

Source: DCLA

Alrosa Upbeat, Despite Tariffs and Lab Growns

Alrosa CEO Pavel Maryinchev gave a remarkably upbeat assessment of the natural diamond market, telling the Times of India (TOI) that the industry is adapting well to US tariffs and that the threat from synthetic diamonds is diminishing.

Maryinchev (pictured) highlighted two major factors behind his optimism: steady global demand for jewelry and a decline in diamond production. “Inventories throughout the diamond pipeline are gradually normalizing, creating favorable conditions for price recovery,” he said.

Alrosa, Russia’s state-owned and sanctioned diamond miner, reported a 24 per cent drop in revenue in the first half of 2025 and has suspended production at several low-margin mines.

But Maryinchev remains confident. “Our expectations are that the high import tariffs will not have a long-lasting impact, and businesses will be able to adapt and minimize the effect,” he said.

He also pointed to a significant decline in wholesale prices for lab-grown diamonds, which fell nearly 40 per cent year-on-year in Q3 2025, reducing the competitive pressure on natural stones.

“Fears that synthetic substitutes might replace natural diamonds are becoming less likely to come true every year,” he told TOI.

He noted that, with no major new deposits discovered and existing mines producing less, supply constraints are increasingly stabilizing the market.

Global rough diamond production is expected to fall to 100 million carats in 2025, a 30-50% decline compared to six to eight years ago.

Maryinchev said the effect of US tariffs on demand was muted because luxury jewelry buyers tend to be less price-sensitive, and retailers can temporarily adjust markups.

“Diamond jewelry manufacturers may need time to adapt, but we expect India’s demand to recover once the first positive sales figures post-tariffs are achieved,” he said.

Source: DCLA

Alrosa to Extract Gold as Byproduct of Diamond Mining

Alrosa plans to extract gold from its diamond-bearing alluvial deposits in Mirny, in Russia’s Sakha Republic.

The move comes as demand for natural diamond continues to slide, and gold prices reach record highs.

Alrosa, Russia’s state-controlled miner, announced on Friday (24 October) that it was “considering extracting gold as a byproduct during diamond mining at the Mirny-Nyurba Mining and Processing Division”.

Gold was first found in the area in 2020 and Alrosa says a team of geologists has so far recovered 433kg of it.

The proposal is that gold will be recovered as a byproduct from diamond-bearing sands and placer deposits (accumulations of valuable minerals) in the Mirny area. Alrosa will use existing processing facilities.

In 2024, the company bought the Degdekan gold deposit in the Magadan region – in a notable departure from its core activity of diamond mining.

It said it would invest over $100m in the project, which is expected to produce about 3.3 tonnes of gold annually when it reaches full capacity around 2030.

Source: DCLA

Alrosa’s $240m Plan to Dig Deeper at Udachny Mine

Alrosa is to invest RUB 20bn ($240m) digging deeper to extend the life of the vast underground Udachny mine, just outside the Arctic Circle, until at least 2055.

Mining will eventually take place more than 1km below the surface, extracting 4.1m tonnes of ore annually. The target horizon – the level where mining operations are planned – is 1.13 km below the surface ( at an absolute elevation of -780 m, when taking the surface elevation as a baseline).

Alrosa CEO Pavel Marinychev says annual profit from the planned expansion is estimated at almost RUB 6bn ($73m) a year.

Udachny opened as open-pit mine in 1967 and switched to underground operations in 2014, producing over 10 per cent of Alrosa’s total output. It was due to reach the end of its life in 2039.

Alrosa said the investment committee had approved the project. Udachny is one of the world’s largest kimberlite pipes. Trucks take over 30 minutes to reach the bottom, currently 680 metres below the surface.

“The implementation of the investment project will enable us to significantly extend the duration of mining at the deposit, which currently produces more than 10 per cent of Russian rough diamonds,” said Marinychev.

“From 2025 through 2055, 4.1 million tonnes of ore will be mined here annually and profit is estimated at almost 6 billion rubles per year.”

Source: DCLA

Alrosa Starts Mining at New Kimberlite Pipe

Alrosa has started operations at additional kimberlite pipe at its Lomonosov deposit, one of the largest diamond mines in Russia.

The state-run miner said on Tuesday (8 July) that the Karpinsky-2 pipe, one of six at Lomonosov, held more than 40m tonnes of diamond bearing ore.

Its subsidiary, Severalmaz, already mines two other pipes at the site in Arkhangelsk, northwestern Russia – Arkhangelskaya and Karpinsky-1 – and is now mining Karpinsky-2.

Alrosa, currently sanctioned by the G7 nations, said in March that it was suspending production at four low-margin mines – Zapolyarny, Magnitny, Khara-Mas and Ochuos – because of a “deep crisis” in the industry.

It is also selling a large proportion of its output to Gokhran, the state repository of precious metals and gemstones.

Gokhran has historically functioned as a buffer, stockpiling diamonds during market downturns and selling them back when demand recovers, for example, during the 2009 financial crisis.

Source: DCLA

Russia Still World’s Biggest Diamond Producer

Russia remained the biggest rough diamond-producing country in the world in 2024, by both volume and value, despite the impact of G7 sanctions.

By volume it accounted for 32 per cent of global production in 2024 – or 37.3m carats – according to newly-released figures by the Kimberley Process Certification Scheme.

And by value it accounted for 29 per cent – or $3.335bn.

Botswana came second by volume – 24 per cent, 28.2m carats – and a very close second by value – 28.8 per cent, $3.308bn.

Overall global rough output fell 10 per cent to $11.48bn.

India was the biggest importer (40 per cent by carats, 39 per cent by dollars) followed by UAE (29 per cent by carats, 24 per cent by dollars).

Source: DCLA

Moscow Investigators Uncover Diamond Theft Scheme Involving Alrosa Employee

Moscow investigators on Monday said they сharged an employee of the state-run diamond producer Alrosa, her son and two others in connection with a diamond theft scheme at the company.

Valentina Matyushenkova, an Alrosa employee, is accused of swapping high-value diamonds with cheaper industrial-grade stones between September 2024 and January 2025, according to Russia’s Investigative Committee.

Authorities say the stolen diamonds were smuggled to Armenia.

Matyushenkova was caught in the act while attempting to steal a batch of diamonds valued at more than 1.7 million rubles ($21,700), investigators said. Her son, Alexei Matyushenkov, is accused of acting as a middleman.

Two other suspects, Armen Petrosyan and Arman Sahakyan, allegedly transported the stolen stones across the border to Armenia.

A video published by the Kommersant business newspaper showed Matyushenkova confessing to her role in the scheme during questioning. One of the other suspects claimed he was working as a deliveryman at the time of his arrest.

Searches of the suspects’ homes uncovered some 200,000 carats of low-grade industrial diamonds, which investigators say were used to replace the high-quality raw stones.

All four suspects have been placed in pre-trial detention. If convicted, they face up to 10 years in prison on theft charges and up to seven years for the illicit trafficking of precious stones and metals.

Source: DCLA

Alrosa Concludes Sale of Share in Catoca

Alrosa has concluded the sale of its 41 per cent share in Catoca, Angola’s state-controlled diamond miner, drawing an end to a 32-year partnership.

It has been acquired by Taadeen, a subsidiary of Oman’s sovereign wealth fund.

The move was announced last November, after Angola’s mineral resources minister Diamantino Azevedo described Alrosa, the sanctioned Russian miner, as a “toxic partner”.

The transfer was formalized on 26 May and leaves Angola’s national diamond company Endiama EP retaining a controlling 59 per cent.

Catoca’s updated website now lists its company shareholder structure as: “Endiama EP (National Diamond Company of Angola) – 59% Taadeen (Subsidiary company of the Sovereign Wealth Fund of Oman) – 41%”.

No financial details of the share transfer have been released.

Alrosa acquired 32.8 per cent of Catoca shares in 1992, soon after the country’s long-running civil war came to an end, and increased its stake to 41 per cent in 2018.

Source: DCLA

Russia Partners with Belarus

Russia is joining forces with its ally Belarus to promote jewelry exports to China, the UAE, Vietnam, and Southeast Asia, in response to G7 sanctions.

The collaboration was agreed last Friday (4 April) after Russia’s deputy finance minister Alexei Moiseyev (pictured) met Belarus’s finance minister Yury Seliverstov in the Belarus capital, Minsk.

Both sides discussed further developing e-commerce in jewelry made in Belarus and Russia, as well as the mutual recognition of state standard marks.

The two countries are close trade partners and Belarus has been sanctioned for supporting Russia’s invasion of Ukraine.

“A marketplace for the sale of Belarusian and Russian jewelry on foreign markets is planned to be launched in test mode this year, Moiseyev said, according to BelTA, Belarus’s state news agency.

He said the Eurasian Development Bank, founded jointly by Russia and Kazakhstan, was taking part in the collaboration.

Source: IDEX

Mining Company Alrosa Unveils Russia’s Largest-Ever Diamond

Russian diamond producer Alrosa announced Friday that it finished the two year cutting process of the country’s largest ever diamond a 100 carat vivid yellow stone named New Sun.

New Sun was cut from a billion year old 200 carat rough diamond, which was unearthed from an ancient riverbed at the Ebelyakh mine in the Far East republic of Sakha (Yakutia).

Alrosa said 15 of Russia’s top jewelers worked meticulously to “achieve the perfect balance between light, color and the play of shades.”

“Thanks to the highest skill of Russian experts, the diamond has acquired impeccable proportions that accentuate its depth and brightness of its sunny hue,” the company said.

The cutting process marks a “new stage” in the development of the Russian Cut, a gem cutting technique known for its precision and brilliance, Alrosa said.

“New Sun is one of the most significant events in the gemstone industry in recent years, highlighting Russia’s high status in the global diamond industry,” the company said.

Last month, Alrosa announced the temporary suspension of operations at several less profitable sites, reducing annual production by less than 1 million carats. The company still plans to produce 29 million carats of diamonds in 2025.

Alrosa, which is under an EU and G7 import ban, is the world’s largest diamond mining company by volume. It cut production by 2.8% to 34.6 million carats in 2023 and by 4.6% to 33 million carats in 2024.

Source: DCLA

Alrosa set to Sell More Rough to Government

                                       Rough diamond weighing 390.7 carats

The Russian government could buy more rough diamonds from the state-run miner Alrosa, as it faces ongoing G7 sanctions and weak global demand.

The Finance Ministry says it will assess the situation after seeing second quarter results.

Alrosa last week reported a 77 per cent slump in profits for 2024 (down to $223m) and has said it could suspend some less profitable activities and lay off some of its 35,000 workers.

“As we have already said, it is possible that Gokhran will buy some of the stones, said Deputy Finance Minister Alexey Moiseyev, according to a report by the privately-run Interfax news agency.

“At this stage, we are still observing the market dynamics, indeed, it is quite weak, but not much time has passed. In principle, the first quarter is rarely good.”

Alrosa has previously offloaded excess inventory to Gokhran, the Russian State Precious Metals and Gemstones Repository in times of weak demand.

During the financial crisis of 2009 Gokhran bought up $1bn of Alrosa’s diamonds. And it sold back millions of carats in 2022, when a surge in post-lockdown demand outstripped the miner’s production capacities.

Last November it said it would be selling a batch of rough diamonds, including its largest recovery in a decade – an irregular-shaped diamond weighing 390.7 carats

Source: DCLA