The Jewelers Vigilance Committee (JVC) has launched an online Tariff Tracker providing information on U.S. tariff changes that apply to jewellery, gemstones and precious metals. Funded in part by a grant from the JCK Industry Fund, the tracker will be updated when tariff provisions change and is designed to provide information for businesses assessing potential cost, supply chain and compliance implications. Supporting Trade Compliance JVC said the tool is intended to help members stay informed about U.S. trade policy changes and their effect on the import of jewellery-related goods. It will not offer legal advice, and the organisation recommends that…
Author: Jessica Mabuza
Jessica Mabuza
Jessica aims to be first to bring the news on industry updates, while her finance background informs her insights on how broader economic trends affect the jewellery trade
India’s Gem and Jewellery Export Promotion Council (GJEPC) has raised concerns over the United States’ decision to impose a 50% tariff on all Indian goods, warning that the measure could disrupt India’s gem and jewellery exports. The US accounts for over $10 billion of exports from India’s gem and jewellery sector, representing around 30% of total global trade. According to GJEPC, 85% of exports from the Santacruz Electronics Export Processing Zone (SEEPZ) Special Economic Zone, which employs around 50,000 people, are directed to the US. For cut and polished diamonds, half of India’s exports are US-bound. GJEPC Chairman Vipul Shah…
Pandora has confirmed a cyberattack that resulted in customer names and email addresses being accessed via a third-party platform. The Danish jewellery group said the incident has been contained and that no passwords, payment card details or other sensitive information were involved. Details of the Breach In notification emails sent to affected customers, Pandora stated: “We are writing to inform you that Pandora has experienced a cyber security attack, where some customer information was accessed through a third-party platform that we use. We want to reassure you that the attack has been stopped, and as a result we have further…
The India–UK Free Trade Agreement (FTA), signed on 24 July 2025, is expected to significantly increase bilateral trade in the gem and jewellery sector by removing import tariffs on nearly all Indian exports to the UK. The agreement, signed at Chequers by UK Prime Minister Sir Keir Starmer and Indian Prime Minister Shri Narendra Modi, grants zero-duty access to 99% of Indian exports. Jewellery products expected to benefit include plain gold and gemstone-studded items. Tariff Removal and Trade Projections In 2024, gem and jewellery trade between the two countries totalled $3.6 billion—comprising $941 million in exports from India to the…
A US fusion energy startup has published early-stage research outlining a method for producing gold as a by-product of fusion power generation. While the process is not yet proven or commercially viable, the proposal suggests that gold could one day be manufactured inside fusion reactors using mercury. Marathon Fusion, based in San Francisco, says the process could improve the economics of fusion energy by generating gold alongside electricity. The company’s yet-to-be-peer-reviewed paper estimates that each power plant could theoretically produce several tonnes of gold per year without affecting energy output. How the Gold Is Made The proposed method involves adding…
Lab-grown diamond wholesale prices continued to decline in 2025, with significant year-on-year reductions across key size categories. Industry analyst Edahn Golan’s LGD Wholesale Price List, based on Mumbai trading data for IGI-certified stones, recorded a 6.7% decrease in the second quarter, following an 8.9% drop in the first quarter. Ongoing Reductions Across Key Sizes Consecutive quarterly declines have led to substantial annual price reductions. Prices for one- to three-carat round lab-grown diamonds are now 42% lower than in the same quarter of 2024. Three-carat rounds saw the sharpest drop, with wholesale prices halving year on year. The pace of decline…
The International Gemological Institute (IGI) has confirmed it will continue to apply the universally recognised 4Cs grading system – cut, colour, clarity and carat weight – to both natural and lab-grown diamonds. The announcement follows recent decisions by other major gemmological laboratories to modify or withdraw grading standards for synthetic stones. IGI’s Position on Lab-Grown Diamond Grading In a statement released earlier this week, IGI said it would “continue applying the universal 4Cs grading to all diamonds, whether natural or lab-grown,” reinforcing its long-standing policy of using the same evaluative framework regardless of a diamond’s origin. The Institute stated: “Since…
Kim Kardashian appeared at Balenciaga’s Fall 2025 Haute Couture show in Paris on 10 July wearing a pair of diamond pendant earrings formerly owned by Elizabeth Taylor. The earrings were loaned for the occasion by jeweller Lorraine Schwartz, who has previously worked with both Taylor and Kardashian. The show marked the final presentation by Demna as creative director of Balenciaga. Kardashian’s appearance wearing Taylor’s jewellery added a heritage element to the event, connecting a well-known piece from a private collection with a contemporary fashion context. Provenance and Auction History The diamond pendant earrings were originally a gift from Taylor’s third…
The Gemological Institute of America (GIA) has confirmed that Pritesh Patel will become its next President and Chief Executive Officer, effective 4 August 2025. Patel, currently Chief Operating Officer, will succeed Susan M. Jacques, who will continue as a strategic advisor until her retirement at the end of 2025. The announcement follows a global search process led by the GIA Board of Governors and a dedicated CEO search committee. Candidates from within GIA and across the gem and jewellery industry were considered. Background and Experience Patel joined GIA in 2015 as Chief Information Officer and was appointed Senior Vice President…
David Kellie will step down as Chief Executive Officer of the Natural Diamond Council (NDC) at the end of 2025, following six years in the role. The announcement was made by Kellie via his LinkedIn profile and follows recent developments that secure new funding for the NDC from African producers and other stakeholders through the Luanda Accord. Leadership and Rebrand Kellie was appointed CEO in December 2019, succeeding Jean-Marc Lieberherr at what was then the Diamond Producers Association. Under his leadership, the organisation rebranded to the Natural Diamond Council in mid-2020, as part of a shift to engage younger consumers…
The Jewelers’ Security Alliance (JSA) has issued updated recommendations for jewellery retailers in response to ongoing incidents of smash-and-grab robberies. The non-profit organisation, which has provided crime prevention support to the jewellery industry since 1883, has detailed several measures intended to reduce losses and support safety. Focus on Personal Safety During Incidents The JSA advises against resisting during a smash-and-grab robbery, as offenders may be armed with hammers, knives, or firearms. These incidents tend to occur rapidly, and attempting to intervene may increase the risk of injury. Physical Deterrents and Alarm Systems The JSA recommends installing burglary-resistant, laminated glass in…
The Natural Diamond Council (NDC), in collaboration with Choron Group and the Fancy Color Research Foundation (FCRF), has released a new industry report focused on fancy colour diamonds. The report examines the formation, market dynamics, rarity, and historical significance of these diamonds, providing an informational resource for jewellers, collectors, auction houses, and retailers. Market Context and Report Purpose The release follows a series of notable sales and media coverage involving fancy colour diamonds. In June 2025, the Marie-Thérèse Pink diamond achieved nearly $14 million at Christie’s New York, while a 5.02-carat fancy pink diamond ring at Sotheby’s was estimated between…
Pandora has partnered with Amazon to take action against a network involved in the sale of counterfeit jewellery, resulting in a criminal prosecution in China. The collaboration followed a multi-year investigation by Pandora’s Intellectual Property and Brand Protection team, supported by Amazon’s Counterfeit Crimes Unit. Chinese law enforcement, acting on the information gathered, conducted a raid leading to the seizure of counterfeit Pandora items. Investigation and Legal Proceedings The inquiry was launched in 2020 after customs authorities intercepted shipments suspected of containing counterfeit goods. Pandora and Amazon linked the activity to two sellers based in China operating at scale across…
Russia remained the leading country for rough diamond production by value in 2024, holding its position for a second consecutive year. According to data released by the Kimberley Process, the Russian Federation produced 37.3 million carats of rough diamonds, valued at $3.34 billion, despite continued international sanctions and a subdued global market. Production Trends and Market Conditions Global rough diamond production increased by 6% in volume to 118 million carats. However, the total value declined by 10% year-on-year to $11.48 billion, reflecting weaker consumer demand and lower average prices across key producing countries. Russia’s output matched the previous year’s volume…
Governments of major diamond-producing countries and industry leaders have signed the Luanda Accord, committing to allocate 1% of annual revenues from rough diamond sales to support the marketing of natural diamonds through the Natural Diamond Council (NDC). Backing for Natural Diamond Promotion The agreement was signed during a Ministerial Round Table in Luanda, Angola, where participating countries and companies expressed a unified approach to enhancing global consumer awareness of natural diamonds. This initiative aims to address a decline in category marketing investment and respond to the impact of synthetic alternatives on consumer perceptions. Angola’s Minister of Mineral Resources, Oil and…
HRD Antwerp, the diamond grading laboratory subsidiary of the Antwerp World Diamond Centre (AWDC), has announced it will cease issuing quality certificates for loose laboratory-grown diamonds from 2026. The decision is part of an effort to reinforce the distinction between natural and synthetic diamonds. Scope of the Change The laboratory will stop grading loose lab-grown diamonds intended for commercial sale, but will continue to certify jewellery that contains synthetic diamonds. HRD will also continue to analyse synthetic diamonds for research and technical purposes, but not for grading or commercial use. Ellen Joncheere, CEO of HRD Antwerp, stated: “As of 2026,…
Rio Tinto has recovered a 0.45-carat purple diamond at its Diavik mine in Canada’s Northwest Territories, marking the first discovery of a purple stone of this size at the site since mining commenced in 2003. Unusual Find at a Predominantly White Diamond Deposit Diavik, Rio Tinto’s last operational diamond mine following the closure of the Argyle mine in Australia, has traditionally yielded primarily white diamonds, with yellow diamonds accounting for less than one per cent of production. The recent recovery of the purple diamond is therefore a significant geological outlier. In a public statement, Rio Tinto said: “We recently had…
Botswana, Angola and Qatar have expressed their intent to join the World Federation of Diamond Bourses (WFDB), as announced during the organisation’s 2025 Presidents’ Meeting held in New York. The high-level gathering, hosted in collaboration with the Diamond Dealers Club of New York, brought together global stakeholders for discussions focused on the future of the natural diamond sector. WFDB Emphasises Unified Global Voice The event commenced with WFDB President Yoram Dvash underscoring the organisation’s mission to secure the future of the natural diamond industry through ethical leadership, transparency, and unity. “We are not just preserving the diamond industry — we…
The Natural Diamond Council (NDC) has published a report examining key developments in the laboratory-grown diamond sector focusing on trends in production, pricing, sustainability claims, and product disclosure, drawing on research from independent analysts Edahn Golan and Paul Zimnisky. Production and Environmental Profile The report states that more than 70% of laboratory-grown diamonds are mass-produced in factories in China and India, where coal remains a primary energy source. The production processes—High-Pressure, High-Temperature (HPHT) and Chemical Vapour Deposition (CVD)—require sustained high temperatures of around 1,093°C and substantial volumes of water for cooling. Pricing Trends and Margins The report outlines a sharp…
On 12 June, the Antwerp World Diamond Centre (AWDC) began its “We Protect a Legacy” campaign with a vending machine activation at a Belgian shopping mall, providing members of the public with the opportunity to purchase a lab‑grown diamond for €5, aiming to illustrate the price difference between synthetic and natural diamonds. AWDC president Isidore Morsel said: “With this campaign, we draw a clear line and inform the public in a transparent and accurate way. Only a well‑informed consumer can make conscious choices and avoid being misled.” Market Pricing and Consumer Clarity Morsel also noted that synthetic diamond prices have…
De Beers Group has introduced two new downstream initiatives at the JCK Las Vegas Show, aimed at supporting demand for natural diamonds and strengthening transparency through traceability and digital tools. Ombré Desert Diamonds Marketing Concept De Beers has introduced its first new ‘beacon’ concept in over a decade, titled Ombré Desert Diamonds. The beacon is a category marketing initiative aimed at promoting natural diamond jewellery through coordinated design themes. The Ombré Desert Diamonds concept is inspired by desert landscapes in diamond-producing areas, with designs incorporating colour gradations such as whites, champagnes and ambers. Multi-stone designs were previewed at the show,…
The Gemological Institute of America (GIA) will introduce a new descriptive system for laboratory-grown diamonds later this year, replacing the traditional colour and clarity grading scales originally developed for natural diamonds. Laboratory-grown diamonds will still be accepted for evaluation and identification under the revised system. The new framework will categorise qualifying laboratory-grown diamonds as either ‘premium’ or ‘standard’, based on a combination of characteristics including colour, clarity and finish. Diamonds that do not meet the minimum threshold will not receive a classification. Until the new system is in place, current services for laboratory-grown diamond reports will remain available. Reflecting Narrow…
President Duma Boko has announced plans to change how Botswana manages its mineral sector, stating that all diamonds mined in the country must be cut and polished locally. The policy is part of a government effort to expand local processing of minerals, including diamonds, copper, and nickel, before export. Shift to Domestic Diamond Manufacturing Speaking at a public meeting in Ramotswa, President Boko said: “No diamond will leave this country raw — all will be cut and polished here.” He added, “We are moving to a point where no mineral will leave this country without being processed. We will bring…
Gemological Science International (GSI) has opened a new laboratory in Bangkok, Thailand—its 14th globally. The facility is located in the city’s gem and jewellery district, a key centre for international coloured gemstone trading. The laboratory will serve both local and international clients and offers testing and certification services for coloured gemstones, natural and lab-grown diamonds, pearls, and finished jewellery. Range of Services The Bangkok facility provides comprehensive testing, analysis, and certification services across a wide array of product categories, including coloured gemstones, natural and lab-grown diamonds, finished jewellery, and pearls. The lab also specialises in the screening and detection of…
The World Federation of Diamond Bourses (WFDB) will hold its annual Presidents’ Meeting in New York from 10–11 June. The event will feature participation from government representatives and senior figures across the diamond supply chain to discuss current issues affecting the natural diamond sector. Hosted by the Diamond Dealers Club of New York and led by President Elliot Krisched, the meeting is centred on the theme “Tariffs and Supporting Natural Diamonds”. It will include a series of expert panels and discussions focused on current challenges and policy considerations within the industry. Government Representation Speakers will include Botswana President Duma Boko…
Susan Jacques, President and CEO of the Gemological Institute of America (GIA), has received the International Colored Gemstone Association (ICA) Lifetime Achievement Award. The award was presented during a gala dinner at the conclusion of the ICA Congress held in Brasília, Brazil, from 19–22 May 2025. The award acknowledges Jacques’ long-standing service and leadership within the gem and jewellery industry. ICA President Damien Cody said: “Susan has contributed to our industry in many roles, always with exceptional dedication and professionalism.” ICA CEO Doug Hucker said: “Susan is a prime example of generational leadership excellence. While she may step away from…
The Gemological Institute of America (GIA) has revised its pearl classification system to include a more detailed nacre grading scale, which will now be applied to all GIA pearl classification reports. The update introduces a five-tiered nacre grading system, replacing the previous binary classification of “Acceptable” and “Unacceptable.” GIA states that the change reflects feedback from pearl industry stakeholders seeking more alignment with other quality factors. From Binary to Graduated Assessment Previously, GIA’s nacre evaluation classified pearls as either “Acceptable” or “Unacceptable” based on factors such as thickness, layering, and visible surface damage. The revised system now categorises nacre quality…
Dr Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), has been presented with a Lifetime Achievement Award by the International Colored Gemstone Association (ICA). The award was conferred during the ICA Congress held in Brasilia from 19 to 22 May. The ICA award was presented to Dr Cavalieri in recognition of his work supporting standard-setting and international cooperation within the coloured gemstone sector. Statements from ICA Leadership Damien Cody, President of the ICA, said: “Gaetano Cavalieri stands today as one of the most respected and influential figures in the global jewellery community. His dedication spans decades, and we, as…
Progress made during 2025 Intersessional in Dubai as African Diamond Producers Association proposes revised language The Kimberley Process (KP) has taken a notable step forward toward expanding its definition of “conflict diamonds,” following developments at its 2025 Intersessional meeting held in Dubai from 12–16 May. The advancement stems from a proposal submitted by the African Diamond Producers Association (ADPA), which represents 15 member countries and five observers. This represents a notable step forward in the KP’s ongoing review and reform efforts. Current and Proposed Definition The current definition of conflict diamonds—unchanged since the KP’s inception in 2000—refers only to rough…
The Gemological Institute of America (GIA) has launched GemKit by GemKids, a free digital education resource designed to introduce primary-level students to gemmology. Aimed at pupils in years equivalent to US grades four to six, the programme includes lesson plans, worksheets, videos and activities aligned with the Next Generation Science Standards (NGSS). Curriculum-Aligned Gemmology Content GemKit is structured to support earth science education and is available for use in classrooms and homeschool settings. The digital programme includes modular unit plans that can be used in full or in part, offering flexibility for educators. Cathryn Ramirez, Chief Learning Officer at GIA,…