The Diamond: Nature’s Most Remarkable Gem

Diamonds are among the most fascinating natural materials on Earth. Known for their beauty, rarity, and incredible durability, diamonds have captured human imagination for thousands of years. But beyond their brilliance as gemstones, diamonds are remarkable scientific creations with unique physical properties that make them valuable in jewellery, technology, and industry.

A diamond is a natural crystal made entirely from carbon. What makes it extraordinary is not the element itself, but the way the carbon atoms are arranged. These atoms form a highly organised crystal structure known as the diamond cubic structure, creating one of the strongest natural materials known to mankind.

Pure diamonds are colourless, transparent, and extremely resistant to chemical reactions. They are tasteless, odourless, and do not dissolve in water. Their exceptional hardness and ability to conduct heat have made diamonds valuable not only as gemstones but also in advanced industrial applications such as cutting tools, polishing equipment, and high precision technology.

The Unique Structure of a Diamond

The secret behind a diamond’s strength lies within its atomic structure.

Each carbon atom in a diamond is connected to four other carbon atoms through extremely strong bonds. This creates a rigid three dimensional structure that gives diamonds their famous hardness.

By comparison, graphite, another form of carbon, has a completely different structure. Graphite atoms are arranged in layers that can easily slide over one another, making graphite soft and useful as pencil lead.

Although diamond and graphite are both made from carbon, their different atomic arrangements create completely different materials.

Diamonds are considered a “metastable” form of carbon. Under normal conditions, graphite is technically the more stable form, but the transformation from diamond to graphite happens so slowly that it would take millions or even billions of years.

How Diamonds Are Formed

Natural diamonds are ancient treasures created deep beneath the Earth’s surface.

Most natural diamonds formed between 1 billion and 3.5 billion years ago, long before humans existed. They developed under extreme pressure and temperatures deep within the Earth’s mantle, generally between 150 and 250 kilometres below the surface.

Under these conditions, carbon containing fluids moved through rocks and, over enormous periods of time, formed diamond crystals.

Volcanic eruptions later transported these diamonds closer to the surface. They became trapped in special volcanic rocks known as kimberlites and lamproites, where they could eventually be discovered and mined.

Some diamonds have come from even greater depths, reaching hundreds of kilometres below the Earth’s surface.

The Origin and History of Diamonds

The word diamond comes from the ancient Greek word “adamas”, meaning unbreakable, untamed, or unconquerable. This reflects the early belief that diamonds represented strength and permanence.

Diamonds are believed to have first been discovered and mined in India thousands of years ago, with early sources coming from river deposits. Ancient cultures valued diamonds not only for their beauty but also for their symbolic and spiritual importance.

Over time, diamonds became associated with wealth, power, and status. Their popularity increased dramatically from the 19th century as new diamond deposits were discovered, cutting and polishing techniques improved, and the global jewellery market expanded.

The Discovery That Diamonds Are Carbon

For centuries, the true nature of diamonds was unknown.

In the 1700s, French scientist Antoine Lavoisier conducted experiments using sunlight focused onto diamonds in an oxygen environment. He discovered that burning diamonds produced carbon dioxide, proving that diamonds were made of carbon.

Later, English chemist Smithson Tennant expanded on this work and demonstrated that diamonds and graphite were chemically the same element arranged differently.

This discovery changed the understanding of diamonds forever and showed that one element could exist in completely different forms.

Why Diamonds Have Different Colours

Although many people imagine diamonds as colourless, diamonds naturally occur in a wide range of colours.

A perfectly pure diamond has no colour, but natural diamonds often contain tiny amounts of other elements or changes in their crystal structure. These small differences create unique colours.

Nitrogen is the most common impurity and can create yellow and brown shades.

Boron can produce blue diamonds.

Radiation exposure can create green diamonds.

Structural changes within the crystal can produce pink, red, and other rare colours.

The rarest coloured diamonds, especially vivid pink, red, and blue diamonds, can become some of the most valuable gemstones ever sold.

Diamond Clarity and Natural Characteristics

No two natural diamonds are exactly alike.

During formation deep inside the Earth, diamonds can capture tiny internal features known as inclusions. These may include minerals, growth patterns, or small structural changes.

Clarity grading evaluates these characteristics under magnification and helps determine a diamond’s rarity and value.

The fewer visible inclusions a diamond has, the rarer it generally becomes.

The Importance of the 4Cs

The quality and value of a diamond are traditionally assessed using the famous 4Cs:

Colour

Colour measures how close a diamond is to being completely colourless. Colourless diamonds are highly valued, while naturally coloured diamonds are graded differently due to their rarity.

Clarity

Clarity evaluates internal inclusions and external features. These natural characteristics help identify the uniqueness of each diamond.

Cut

Cut is one of the most important factors affecting a diamond’s beauty. A well cut diamond allows light to enter and reflect back through the stone, creating brilliance, fire, and sparkle.

Carat

Carat refers to the weight of a diamond. Larger diamonds are generally rarer, but size alone does not determine value. Quality, rarity, and overall characteristics are equally important.

The Strength and Hardness of Diamonds

Diamonds are the hardest natural material on the Mohs hardness scale.

This hardness allows diamonds to maintain their polished surfaces for long periods, making them ideal for jewellery that is worn every day, such as engagement rings.

However, hardness does not mean a diamond cannot be damaged. Diamonds can still chip or break if struck in certain directions because they have natural planes within their crystal structure.

Diamonds Beyond Jewellery

While diamonds are famous as gemstones, their properties make them useful in many industries.

Their extreme hardness makes them ideal for cutting and polishing materials.

Their ability to transfer heat efficiently allows them to be used in advanced technology.

Their electrical and optical properties are also being explored for scientific and electronic applications.

Natural Diamonds and Laboratory Grown Diamonds

Modern technology has made it possible to create diamonds in laboratories.

Laboratory grown diamonds are produced using methods that recreate diamond forming conditions. The two main methods are High Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD).

These diamonds have the same chemical composition as natural diamonds, but specialised equipment can identify differences in their growth patterns and characteristics.

Gem laboratories use advanced testing techniques to distinguish between natural and laboratory grown diamonds.

Diamond Certification and Trust

Because every diamond is unique, professional grading and certification play an important role in the diamond industry.

Independent laboratories examine diamonds using scientific methods to assess their characteristics, confirm authenticity, and provide accurate grading information.

At DCLA, diamond science, advanced technology, and expert knowledge are combined to provide confidence and transparency for consumers and the jewellery industry.

The Enduring Legacy of Diamonds

A diamond represents billions of years of natural history, transformed through expert cutting and craftsmanship into one of the world’s most admired gemstones.

From deep beneath the Earth’s surface to the jewellery worn around the world, diamonds continue to fascinate because they combine science, beauty, rarity, and history in a single extraordinary crystal.

Source: DCLA

De Beers Sale Nears Final Chapter as Anglo American Moves to Exit Diamond Business

 

The long awaited sale of De Beers appears to be approaching its final stage, with Anglo American expected to complete the transaction before the middle of 2026 as the mining giant continues its strategic shift away from diamonds.

Speaking on 16 June at the Reuters NEXT Europe economic summit in London, De Beers CEO Al Cook indicated that the sale process could be concluded within “a few weeks, rather than a few months”, signalling that one of the most significant transitions in the modern diamond industry is moving closer to completion.

After more than a century as one of the most influential names in the global diamond trade, De Beers is entering a new era. Anglo American began reviewing its portfolio in 2023 as part of a broader strategy focused on commodities with stronger long term growth potential, including copper, iron ore and minerals linked to the global energy transition.

The shift comes after a challenging period for the diamond market. Between 2022 and 2025, De Beers experienced a substantial decline in financial performance, with sales falling from approximately US$6.6 billion in 2022 to around US$3.5 billion in the latest reporting period. Production also declined from approximately 35 million carats to 21.7 million carats.

Changing Consumer Demand Reshapes the Diamond Market

The decline in luxury spending in China, combined with the rapid growth of lab grown diamonds in the United States, has placed significant pressure on demand for natural diamonds.

The market has experienced three consecutive years of weaker demand, forcing the industry to reassess supply, pricing strategies and the long term role of natural diamonds in the luxury sector.

Despite these challenges, interest in acquiring De Beers remains strong. The company continues to attract potential buyers, including strategic investors, diamond producing nations and experienced industry figures.

Botswana, which already owns a 15 per cent stake in De Beers, has been exploring opportunities to increase its involvement alongside international partners. Diamonds remain central to Botswana’s economy, representing a major share of export earnings and a significant contributor to national GDP.

A greater ownership position could allow Botswana to capture more value from the diamond supply chain and increase its influence over the future direction of the global diamond industry.

Future Diamond Supply Could Support Prices

While the short term market remains challenging, potential buyers are also focused on the longer term fundamentals of diamonds, particularly the issue of supply scarcity.

The discovery of major new diamond deposits has slowed significantly. The Luele mine in Angola is regarded as one of the most important discoveries of the past two decades, while several established mines in Canada and southern Africa are expected to reduce production or close in the coming years.

As global production declines, the balance between supply and demand could begin to shift. A tighter supply environment may provide support for natural diamond prices over the medium to long term.

The sale of De Beers represents more than a corporate transaction. It marks the end of an era for one of the most recognised names in luxury and signals a new chapter for the global diamond industry, where ownership, supply control and changing consumer preferences will shape the future of natural diamonds.

Source: DCLA

Natural Diamonds at a Turning Point: De Beers Sale Signals a New Era for the Global Diamond Industry

 

The natural diamond industry is entering a defining period of transformation as one of the world’s most influential diamond companies, De Beers, moves closer to a change in ownership while the broader market shows early signs of recovery after several challenging years.

De Beers CEO Al Cook has indicated that a sale of the diamond giant could be completed within weeks rather than months, bringing to a close a two year process of negotiations. Speaking at the Reuters NEXT Europe conference in London, Cook said discussions have reached an advanced stage and that the company is closer to a sale than ever before.

Anglo American placed its 85% stake in De Beers on the market in May 2024 as part of a wider restructuring strategy following a prolonged downturn in diamond prices, weaker consumer demand, and the rapid growth of lab grown diamonds.

De Beers remains one of the most important names in the global diamond industry, with operations spanning Botswana, Namibia, Angola, South Africa, and Canada. The company has played a central role in shaping the natural diamond market for more than a century.

The potential buyers include diamond producing nations and strategic investors. Botswana, which already owns a 15% stake in De Beers, along with Namibia and Angola, have shown interest through various partnerships. These countries recognise the importance of diamonds to their economies and are looking to secure a stronger role in the future direction of the industry.

Cook highlighted that the current interest comes from groups with deep diamond knowledge, creating the opportunity for a strong public private partnership that could support the next chapter of De Beers.

Sources indicate that the number of potential buyers has narrowed from six groups in 2025 to two remaining consortia. These include diamond producing governments, former De Beers CEO Gareth Penny, investment groups, and international investors.

Natural Diamond Market Recovery Begins to Take Shape

While the industry has faced significant pressure since 2021, the market is showing signs of reaching a turning point.

The downturn was driven by several major structural changes. The rapid expansion of lab grown diamonds transformed consumer expectations, with improvements in CVD and HPHT technology allowing synthetic diamonds to become widely available at significantly lower prices.

This created pressure across the natural diamond pipeline as consumers became more focused on size and appearance rather than rarity and long term value.

At the same time, weaker luxury demand, particularly in China, reduced one of the industry’s most important growth markets. The slowdown affected miners, manufacturers, retailers, and diamond producing nations.

Botswana, the world’s largest diamond producer by value, experienced economic pressure as declining diamond revenues impacted national growth. The challenges highlighted the importance of diamonds not only as a luxury product but as a critical economic resource for producing countries.

A New Diamond Market Structure

The current recovery is unlikely to mirror previous diamond cycles. The industry is entering a new era where scarcity, provenance, quality, and consumer trust will become increasingly important.

Natural diamonds and lab grown diamonds are moving into different market positions. Lab grown diamonds compete primarily on affordability, while natural diamonds continue to represent rarity, geological history, and emotional value.

The potential sale of De Beers could become a major milestone in reshaping the future of the natural diamond sector. New ownership, combined with improving market fundamentals and a renewed focus on the uniqueness of natural diamonds, may help create the foundation for the next phase of the industry.

For the global diamond market, 2026 could represent not just a recovery year, but the beginning of a new chapter.The natural diamond industry is entering a defining period of transformation as one of the world’s most influential diamond companies, De Beers, moves closer to a change in ownership while the broader market shows early signs of recovery after several challenging years.

De Beers CEO Al Cook has indicated that a sale of the diamond giant could be completed within weeks rather than months, bringing to a close a two year process of negotiations. Speaking at the Reuters NEXT Europe conference in London, Cook said discussions have reached an advanced stage and that the company is closer to a sale than ever before.

Anglo American placed its 85% stake in De Beers on the market in May 2024 as part of a wider restructuring strategy following a prolonged downturn in diamond prices, weaker consumer demand, and the rapid growth of lab grown diamonds.

De Beers remains one of the most important names in the global diamond industry, with operations spanning Botswana, Namibia, Angola, South Africa, and Canada. The company has played a central role in shaping the natural diamond market for more than a century.

The potential buyers include diamond producing nations and strategic investors. Botswana, which already owns a 15% stake in De Beers, along with Namibia and Angola, have shown interest through various partnerships. These countries recognise the importance of diamonds to their economies and are looking to secure a stronger role in the future direction of the industry.

Cook highlighted that the current interest comes from groups with deep diamond knowledge, creating the opportunity for a strong public private partnership that could support the next chapter of De Beers.

Sources indicate that the number of potential buyers has narrowed from six groups in 2025 to two remaining consortia. These include diamond producing governments, former De Beers CEO Gareth Penny, investment groups, and international investors.

Natural Diamond Market Recovery Begins to Take Shape

While the industry has faced significant pressure since 2021, the market is showing signs of reaching a turning point.

The downturn was driven by several major structural changes. The rapid expansion of lab grown diamonds transformed consumer expectations, with improvements in CVD and HPHT technology allowing synthetic diamonds to become widely available at significantly lower prices.

This created pressure across the natural diamond pipeline as consumers became more focused on size and appearance rather than rarity and long term value.

At the same time, weaker luxury demand, particularly in China, reduced one of the industry’s most important growth markets. The slowdown affected miners, manufacturers, retailers, and diamond producing nations.

Botswana, the world’s largest diamond producer by value, experienced economic pressure as declining diamond revenues impacted national growth. The challenges highlighted the importance of diamonds not only as a luxury product but as a critical economic resource for producing countries.

A New Diamond Market Structure

The current recovery is unlikely to mirror previous diamond cycles. The industry is entering a new era where scarcity, provenance, quality, and consumer trust will become increasingly important.

Natural diamonds and lab grown diamonds are moving into different market positions. Lab grown diamonds compete primarily on affordability, while natural diamonds continue to represent rarity, geological history, and emotional value.

The potential sale of De Beers could become a major milestone in reshaping the future of the natural diamond sector. New ownership, combined with improving market fundamentals and a renewed focus on the uniqueness of natural diamonds, may help create the foundation for the next phase of the industry.

For the global diamond market, 2026 could represent not just a recovery year, but the beginning of a new chapter.

Source: DCLA

Steep Rise in De Beers Rough Production

 

De Beers says rough diamond production increased by 17% in the first three months of 2026, to 7.1 million carats.

The increase was largely driven by the release of stockpiled ore at Gahcho Kue, in Canada, (up 163%) and higher underground volumes at Venetia in South Africa (up 53%).

The loss-making miner said, however, that trading conditions remained “challenged” due to ongoing industry, geopolitical and tariff headwinds.

Rough sales at the two sights held during the quarter saw revenue rise, year-on-year by almost 25% to $648 million, although average per carat prices fell 19% to $101.

Production guidance for 2026 remains unchanged at 21-26 million carats, the company said in its Production Report for the First Quarter of 2026, published on 28 April.  

Actual rough production was 24.7 million carats in 2024 and 21.7 million carats in 2025.

Botswana, which accounts for more than two thirds of all De Beers’ diamonds, saw production rise by 5% year-on-year during Q1 2026.

There was a 12% drop in Namibia, due to scheduled maintenance on two vessels at Debmarine Namibia and the of decommissioning two vessels.

There was 53% production rise in South Africa, largely due to increased processing of underground ore from Venetia, and a 163% increase in Canada due to the planned release of ore from a new area of Gahcho Kue.

Source: DCLA

Rough Diamond Jewellery Gains Momentum in the UK and USA

 

A clear shift is underway across the jewellery markets in the United Kingdom and the United States, where demand for rough, uncut diamond jewellery continues to accelerate. Against a backdrop of geopolitical tension and economic uncertainty, consumers are increasingly drawn to pieces that represent authenticity, individuality, and a deeper connection to natural origins.

Unlike traditional polished stones, rough diamonds present an organic, untouched aesthetic each one inherently unique. This raw beauty is resonating strongly with a new generation of buyers who prioritise personal expression over conventional notions of perfection. In this segment, irregularity is not a flaw, but a defining feature of value.

The momentum behind this trend has been amplified by the expansion of the De Beers Talisman collection. By pairing rough and polished diamonds in innovative designs, the collection has successfully repositioned rough stones within high jewellery bridging traditional craftsmanship with contemporary design language and attracting both collectors and design-led consumers.

From a broader market perspective, the rise of rough diamond jewellery reflects a growing preference for tangible, meaningful assets. In uncertain times, buyers are seeking rarity, permanence, and intrinsic value qualities naturally embodied by diamonds in their most authentic form.

For the trade, this evolution presents both opportunity and responsibility. Educating consumers on the characteristics, formation, and grading complexities of rough diamonds remains critical, alongside maintaining transparency and provenance areas where DCLA continues to play a pivotal role.

As the market evolves, rough diamonds are no longer viewed as unfinished they are increasingly recognised as a deliberate, sophisticated choice.

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6.03ct Fancy Vivid Blue Diamond Could Fetch Up to $12 Million

A rare 6.03-carat fancy vivid blue diamond is set to headline an upcoming auction at Sotheby’s Geneva, with expectations reaching as high as CHF 9.5 million (approximately USD $12.2 million).

The cushion-modified brilliant, classified as a Type IIb diamond, originates from South Africa’s renowned Cullinan mine and is set in a platinum ring. It will lead the High Jewellery sale scheduled for 12 May.

This follows the strong performance of another Cullinan blue at Sotheby’s Geneva in May 2025, when the 10.3-carat “Mediterranean Blue” achieved $21.5 million, or approximately $2.09 million per carat highlighting sustained demand for rare blue diamonds at the top end of the market.

The current 6.03-carat stone carries an estimate of CHF 7.2 million to CHF 9.6 million (USD $8.0 million to $10.7 million), equating to roughly $1.33 million to $1.77 million per carat, reinforcing the continued strength of the coloured diamond segment.

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Masked Raiders Steal Dozens of Rolex Watches in Texas

In a stark reminder of rising security risks within the luxury sector, a group of masked thieves carried out a targeted raid on a jewellery store in Austin, Texas, stealing at least 50 pre-owned Rolex watches.

The incident occurred on 21 April at Marc Robinson Jewelers, where eight suspects used hammers to smash display cases after deploying pepper spray against an employee and a bystander. The group reportedly fled with a significant volume of high-value inventory before staff could intervene.

The store, known for holding one of the largest inventories of pre-owned Rolex watches in the region, was specifically targeted suggesting prior surveillance and planning. Authorities later recovered a stolen getaway vehicle but have yet to make any arrests.

The underscores the increasing need for enhanced security protocols across the jewellery and watch retail sector, particularly for businesses dealing in high-value branded goods.

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DCLA Insight:
From evolving consumer preferences toward rough diamonds to continued strength in rare coloured stones and rising security concerns, the global jewellery market is undergoing dynamic change. For industry professionals, adaptability, education, and vigilance remain key to navigating this rapidly shifting landscape.

Diamond Debut for De Beers and Sotheby's Collaboration

 

The sale of the Jwaneng 28.88 diamond later this month marks the start of a collaboration between De Beers and Sotheby’s.

Together they aim to “present exceptional diamonds as works of art,” although no details on the terms or scope of the agreement have been made public.

The collaboration centers on joint marketing and storytelling, going beyond a standard consignment, in which the miner selects an auction house.

Both companies co-create a branded narrative – “earth to art” – to promote across their channels

The flawless D-color unmounted Jwaneng 28.88 – cut from a 114.83-carat rough recovered at Botswana’s Jwaneng mine (Debswana, De Beers’ 50-50 government venture) -leads the auction at Sotheby’s Magnificent Jewels & Jadeite sale in Hong Kong on 23 April.

It carries an estimate of HKD 17 million to HKD 22 million (USD 2.2 million to USD 2.8 million).

Other De Beers diamonds from Jwaneng will be offered at the same sale, including a solitaire ring and a pair of diamond earrings.

Source: DCLA

De Beers Group extends Desert diamonds into bridal with a new palette of lighter hues

 

De Beers Group today announces the next chapter of Desert diamonds: an extension of the industry-wide beacon concept into the bridal market, bringing a fresh interpretation of natural diamond engagement and wedding jewellery through a refined spectrum of warm, nature-made hues that reflect enduring love and personal expression.

First launched to consumers in 2025 as De Beers Group’s first new beacon in over a decade, Desert diamonds is supported by De Beers’ largest category marketing investment in more than ten years. Developed to galvanise the industry around a central idea, Desert diamonds celebrates the wild, natural origin of natural diamonds and the distinctive spectrum of tones that occur in nature — from warm whites to champagne hues — offering consumers a compelling, authentic story of individuality and connection.

A natural evolution into bridal

The new bridal-focused chapter builds on the strong cultural momentum Desert diamonds has generated since launch, as warmer-toned diamonds become increasingly visible in popular culture and are worn by high‑profile figures across fashion, music and entertainment – including Bad Bunny, Doja Cat and Teyana Taylor.

This cultural momentum has also been reflected in some of the world’s most talked‑about bridal moments. Taylor Swift’s engagement ring, crafted by Kindred Lubeck, widely noted for its warm, candlelight diamond tone, has become a powerful cultural reference point for consumers.

This cultural interest has also translated into retail impact. Independent retailers who were involved in the first Desert diamonds campaign across the US reported increased foot traffic during the campaign’s initial run in 2025 and a rise in bridal‑led enquiries, with consumers increasingly interested in how these naturally warm tones could be applied to life’s most meaningful milestones — particularly engagement and wedding jewellery.

A lighter desert palette for modern bridal

Launching 13 April 2026 across the United States, Desert diamonds bridal is designed to meet growing interest in a more versatile, accessible spectrum of diamond colours — a softer, lighter desert palette that testing indicates resonates strongly with bridal audiences seeking authenticity and individuality in their choice of engagement and wedding jewellery.

The campaign will feature design archetypes including solitaire rings, three-stone rings and diamond bands and eternity-style pieces, created to highlight the natural variation and character of each stone.

An industry‑wide programme to inspire renewed desire

As with previous De Beers beacons — from the diamond bands to the tennis bracelet — Desert diamonds is designed as an industry‑wide programme with the goal of celebrating natural diamonds and reigniting consumer desire. De Beers has collaborated with over 60 designers across the industry to develop collections that interpret the desert‑inspired palette across both engagement and bridal jewellery, including Kindred Lubeck, designer of Taylor Swift’s engagement ring, with pieces available for future brides and couples to purchase.

Sandrine Conseiller, CEO of De Beers Brands & Diamond Desirability, said: “The success of Desert diamonds has reaffirmed something we’ve long believed: today’s consumers are drawn to what is real, rare and deeply personal. By celebrating the naturally occurring beauty and individuality of natural diamonds, the campaign struck a chord culturally and at retail, inviting a new generation to reconnect with the story behind their diamond.

Extending Desert diamonds into bridal is a natural next step. When people choose an engagement or wedding ring, they’re looking for authenticity — a symbol that feels true to who they are and the love they share. With this lighter, desert‑inspired palette, we’re offering couples a diamond that reflects their own story: shaped by nature, rich in character, and unlike anything else.”

De Beers’ Desert diamonds bridal campaign is supported by an integrated marketing programme across digital, social, outdoor and experiential channels. Through evocative storytelling, the campaign brings the Desert diamonds story into the context of love and commitment, drawing parallels between the individuality of each diamond and the unique journeys of the people who wear them. The creative spotlights how every diamond is shaped by nature and time, inviting brides to celebrate a commitment that is truly their own.

Source: DCLA