Gemfields Sells Iconic Faberge to Raise Working Capital

August 14, 25 by John Jeffay

Loss-making Gemfields is selling the iconic Faberge brand for $50m to reduce mounting debts and raise working capital for expansion projects. It has agreed a sale to SMG Capital LLC, the investment company based in Houston, Texas, USA.... Read More...

Tariffs Fallout: Titan could Move Manufacturing out of India

August 14, 25 by John Jeffay

Titan, India's biggest jewelry retailer, could move some of its manufacturing operations from India to a Gulf state, to avoid the 50 per cent tariffs imposed by the US last week. Managing director C.K. Venkataraman said last week that it was considering ... Read More...

Sarine Revenue hit by Weak Demand and Lab Growns

August 14, 25 by John Jeffay

Sarine reported a 30 per cent fall in revenue and a marginal loss for the first half of 2025, amid ongoing weak demand for natural diamonds in the US and China, and the rising popularity of lab growns. Revenue for H1 2025 was $15.3m, down... Read More...

De Beers and Endiama Discover New Kimberlite Field

August 13, 25 by John Jeffay

De Beers has announced the discovery of a new kimberlite field - a potential source of diamonds - in Angola, in partnership with the country's national diamond company, Endiama. It's three decades since De Beers last found a new source of diamonds... Read More...

Lucara Revenue Rises on sale of $12m Stone

August 13, 25 by John Jeffay

Lucara announced an increase of almost 6 per cent in its Q2 revenue, to $43.7m, buoyed by the sale of the 1,094-carat Seriti diamond for $12m. The Vancouver-based miner also said it had recovered a "2,036 carat near-gem diamond" last month at its... Read More...

Memo by John Jeffay

August 14

The discovery of a new kimberlite field in Angola could hardly have come at a better time for De Beers. The last-minute addition of a promising new asset can only increase its value, as potential buyers close in. Anglo American is in the process of selling...  Read More...