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Articles from DIAMOND JEWELLERY (815 Articles), DIAMONDS BY CUT - ROUGH (UNCUT) (40 Articles)











As well as releasing a study on global diamond demand, De Beers has announced a series of new ventures. Image courtesy: <a href="http://bit.ly/2d6D9QQ" target="_blank">Facebook/De Beers</a>
As well as releasing a study on global diamond demand, De Beers has announced a series of new ventures. Image courtesy: Facebook/De Beers

De Beers announces string of insights and ventures

Global consumer demand for diamond jewellery increased 0.3 per cent to US$80 billion (AU$105 b) in 2016, recent industry data has found, with demand primarily driven by sales in the US.

According to De Beers Group’s Diamond Insight study, the US accounted for roughly half of all diamond jewellery purchases globally. Sales in the region, which have recorded five consecutive years of increased demand, is said to have exceeded US$40 billion (AU$52.8 b) for the first time, reporting a 4.4 per cent increase in local currency terms.

Bruce Cleaver, De Beers CEO
Bruce Cleaver, De Beers CEO

The other four major diamond markets analysed – Greater China, India, Japan and the Gulf – recorded varied results. Sales rose 0.6 per cent in China, while sales declined 8.8, 2.9 and 10 per cent in the three other regions respectively.

Demand in the Rest of World category fell 3.2 per cent.

Consumer trends identified in the data included increased frequent acquisitions and a higher-value spend by women as well as married women accounting for 57 per cent of self-purchased diamond jewellery and Millennials accounting for one third.

De Beers’ study also featured a brief outlook for the remainder of 2017. A further marginal rise in diamond jewellery demand was expected, with sales set to be driven by the US and “encouraging” demand in China and India.

A more detailed report will be released later this year.

New ventures

In other De Beers news, the group has announced the creation of an initiative aptly titled De Beers Ventures.

The project will involve making “small” investments in start-up businesses operating in areas such as downstream distribution, cutting and polishing, consumer brands and marketing platforms, a company statement read.

Additionally, another De Beers venture has come to fruition. Debmarine Namibia – a joint venture between De Beers and the Government of the Republic of Namibia – has announced that the world’s largest and most advanced diamond exploration and sampling vessel is ready for operation.

According to a De Beers statement, the US$157 million (AU$207.5 m) mv SS Nujoma would “secure” diamond supply in Namibia well into the future. The ship is reportedly set to mine approximately 120 to 140 metres below sea level and is capable of sampling at more than double the speed of its predecessor.

De Beers CEO Bruce Cleaver said offshore diamond mining was becoming increasingly important in meeting global demand, given many of the major onshore deposits had been discovered.

“The mv SS Nujoma will allow even more of Namibia’s high quality offshore diamonds to be discovered and mined, ensuring a strong future for Namibia’s diamond industry, as well as the global diamond market.”

Debmarine Namibia is believed to be the only company globally to undertake offshore diamond mining.

The mv SS Nujoma is the world’s largest and most advanced diamond exploration and sampling vessel. Image courtesy: De Beers
The mv SS Nujoma is the world’s largest and most advanced diamond exploration and sampling vessel. Image courtesy: De Beers

More reading
De Beers profits double in 2016
Millennials still driving diamond demand
US dollar deals blow to diamond jewellery
Diamond jewellery sales exceed $100 billion
Enormous opportunities in diamond industry: De Beers
Global diamond jewellery demand sets new record
Diamond jewellery demand reaches record high



















Sunday, 21 April, 2019 07:06pm
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