MajorsMar 15, 2022
How the Jewelry Industry Is Helping UkrainePolicies & IssuesMar 08, 2022
De Beers Parent Company Speaks Out Against Russia’s Invasion of Ukraine
Anglo American is also donating $5 million for humanitarian relief in Ukraine, it said in a statement.
De Beers parent company Anglo American has spoken out in a statement, condemning Russia’s recent invasion of Ukraine. (Photo courtesy of De Beers Group)
London—De Beers parent company Anglo American has released a statement condemning Russia’s invasion of Ukraine and expressing its support for the Ukrainian people.
“First and foremost, our thoughts are with the people of Ukraine, and we all want a rapid and peaceful resolution and an immediate end to loss of life,” said CEO Mark Cutifani.
He added that in order to support those affected by the war, the Anglo American Foundation will donate $5 million to one or more charities involved in providing humanitarian relief in Ukraine.
The foundation, established in 2005, will also match donations made by employees, up to £1,000 per person per year, through the Employee Match Funding scheme, open to all permanent employees at the company.
Anglo American owns 85 percent of De Beers Group and mines copper, platinum group metals, coal, iron ore, and other materials.
In its statement, the company said the conflict doesn’t have any direct impact on its business since there are no Anglo operations or offices in Ukraine or Russia, though it did note there is potential for “broader markets and supply chains to be affected.”
It added: “We are working with our partners and industry bodies to monitor the situation and prepare for any disruption.”
A De Beers spokesperson said there is a De Beers Jewellers store in Moscow that it does not directly operate—a franchise partner runs it—but the company has stopped all shipments to the store nonetheless.
News of Anglo American’s statement condemning Russia’s actions is noteworthy, given that most of the jewelry industry’s major players have said little to nothing publicly about the conflict in Ukraine as they watch and wait to see how it could impact the industry, which counts on Russia for about 30 percent of the supply in the diamond market.
Russian diamond miner Alrosa, meanwhile, is stepping back from two major industry organizations as the Russian assault on Ukraine continues.
It voluntarily stepped down as vice chair of the Responsible Jewellery Council and suspended its Natural Diamond Council membership and halted financial contributions to the organization.
The U.S. government sanctioned the company and its CEO after Russia invaded Ukraine Feb. 24.
Related stories will be right here …
“First and foremost, our thoughts are with the people of Ukraine, and we all want a rapid and peaceful resolution and an immediate end to loss of life,” said CEO Mark Cutifani.
He added that in order to support those affected by the war, the Anglo American Foundation will donate $5 million to one or more charities involved in providing humanitarian relief in Ukraine.
The foundation, established in 2005, will also match donations made by employees, up to £1,000 per person per year, through the Employee Match Funding scheme, open to all permanent employees at the company.
Anglo American owns 85 percent of De Beers Group and mines copper, platinum group metals, coal, iron ore, and other materials.
In its statement, the company said the conflict doesn’t have any direct impact on its business since there are no Anglo operations or offices in Ukraine or Russia, though it did note there is potential for “broader markets and supply chains to be affected.”
It added: “We are working with our partners and industry bodies to monitor the situation and prepare for any disruption.”
A De Beers spokesperson said there is a De Beers Jewellers store in Moscow that it does not directly operate—a franchise partner runs it—but the company has stopped all shipments to the store nonetheless.
News of Anglo American’s statement condemning Russia’s actions is noteworthy, given that most of the jewelry industry’s major players have said little to nothing publicly about the conflict in Ukraine as they watch and wait to see how it could impact the industry, which counts on Russia for about 30 percent of the supply in the diamond market.
Russian diamond miner Alrosa, meanwhile, is stepping back from two major industry organizations as the Russian assault on Ukraine continues.
It voluntarily stepped down as vice chair of the Responsible Jewellery Council and suspended its Natural Diamond Council membership and halted financial contributions to the organization.
The U.S. government sanctioned the company and its CEO after Russia invaded Ukraine Feb. 24.
More on Policies & Issues
The Latest
CollectionsAug 19, 2022
As Its Namesake Sets to Retire, Serena Williams Jewelry Debuts New DTC WebsiteThe company is no longer selling its jewelry at Zales, which first partnered with Williams last August.
CrimeAug 19, 2022
Suspects Use Bear Spray on NY Jewelry Store Employees During Robbery Ten masked suspects stole $800,000 in merchandise from a jeweler in the Bronx.
WatchesAug 19, 2022
WatchBox Names Jack Forster Global Editorial DirectorHe was previously editor-in-chief at Hodinkee.
Brought to you by
The American Mined™ Collection: Ethical Sourcing That MattersRio Grande provides a pathway to responsibly sourced gemstones.
CollectionsAug 19, 2022
Piece of the Week: Akaila Reid’s ‘Wavy’ BangleIt’s the hero piece of the emerging designer’s new “Wavy Baby” collection.
Weekly QuizAug 18, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
Supplier BulletinAug 18, 2022
Why Online Auctions Are Ideal For Selling Hard-To-Find JewelrySponsored by HiBid
ColumnistsAug 18, 2022
Squirrel Spotting: The Travails of Attracting and Retaining TalentThe job market is tight, making it paramount for employers to have the type of culture employees really crave, Peter Smith writes.
Brought to you by
Knowledge and Skills for Today’s Hot TopicsFrom laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.
MajorsAug 18, 2022
Pandora Charms Pet Owners with New AccessoriesThe jewelry company has also hired a new chief marketing officer.
CollectionsAug 18, 2022
Hearts On Fire’s Latest Collection Reaches for the Sky“Aerial” is edgy and glamorous, inspired by nature’s wild forms.
GradingAug 18, 2022
VDB, Lab Grown Source Add 8X to Cut Grade Search Filter 8X is now the top cut grade on both platforms, above Ideal.
CollectionsAug 17, 2022
Playing Doubles: Monica Rich Kosann, Chris Evert Team Up on Tennis Bracelets It is the first tennis bracelet collab for the legend, whose lost-and-found moment put the term “tennis bracelet” in the jewelry lexicon.
FinancialsAug 17, 2022
Watches of Switzerland’s US Sales Double in Q1The company posted a strong start to the year but is cautious about the second half.
Events & AwardsAug 17, 2022
6 Things to Know About the Second HardRock Summit The event will bring gems, minerals, and fossils under one roof from Sept. 8-11 in Denver.
SourcingAug 17, 2022
Diamond Supplier SRK Pledges 750 Solar-Power RooftopsThe charitable mission is in honor of India’s 75 years of independence.
Lab-GrownAug 16, 2022
Pandora’s Lab-Grown Diamond Line Heads to the U.S.The announcement preceded the Danish company’s release of its second-quarter results.
ColumnistsAug 16, 2022
The PR Adviser: Describe Your Customer Columnist Lilian Raji continues her tour of the customer journey by asking, who is your customer? And, what do they like?
EditorsAug 16, 2022
Tiffany’s ‘Lock’ Bangle May Be Its Answer to Cartier’s ‘Love’ BraceletThe unisex style succeeds in several ways while saying a lot about what’s trending in jewelry, writes Senior Editor, Fashion, Ashley Davis.
CrimeAug 16, 2022
3 Packages Containing $6.9M in Fake Watches, Jewelry Seized in Ohio Customs officers in Cincinnati intercepted the shipments in early August, finding counterfeit Cartier jewels and Rolex watches.
SourcingAug 15, 2022
Q&A: Moyo Gems Celebrates 3 Years and Many MilestonesIn honor of the anniversary, Pact’s Mines to Markets Director Cristina Villegas discusses recent expansion and where it goes from here.
Events & AwardsAug 15, 2022
David Webb to Hold an Exhibition of Its Animal Jewelry “A Walk in the Woods” will open at the brand’s Madison Avenue flagship this fall.
Events & AwardsAug 15, 2022
Plumb Club, JVC to Hold Webinar on Sustainability MarketingThe Jewelers Vigilance Committee’s Sara Yood will give an overview of what the FTC guidelines currently say and what may be changing.
Lab-GrownAug 12, 2022
Report: State Bank of India to Begin Lending to Lab-Grown Producers The loans will go mostly to the import of machinery rather than working capital, according to a recent article from The Economic Times.
FinancialsAug 12, 2022
Brilliant Earth’s Fine Jewelry a Hit in Q2The company is also continuing its retail expansion.
AuctionsAug 12, 2022
2 Rolexes Paul Newman Gave to Stuntman Stan Barrett Head to Auction The sale also will include a third Rolex, with all three watches tied to Barrett’s 1979 attempt to break the world record for land speed.
CollectionsAug 12, 2022
Piece of the Week: İTÄ Jewelry’s ‘Danza’ RingIt mixes diamond shapes and colors.
