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
MajorsJul 26, 2024
Diamonds Direct Opens Store in AtlantaIt’s the Signet-owned banner’s first location in Georgia.
TrendsJul 26, 2024
Piece of the Week: Bea Bongiasca’s ‘Double Loop’ EarringsCommemorate “brat summer” with these green hoops.
EditorsJul 26, 2024
Out & About: A Dispatch from the Nation’s Smallest StateEditor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
Brought to you by
The End of an Era? Lab-Grown Diamonds' Journey Towards Price StabilityAs the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
Supplier BulletinJul 25, 2024
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionSponsored by Gemological Institute of America
Weekly QuizJul 25, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJul 25, 2024
Amazon, BBB Sue Website Allegedly Peddling Fake Reviews They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
SourcingJul 25, 2024
De Beers’ H1 Revenue Falls 21% in ‘Weak’ MarketLab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionGIA®’s most advanced microscope has new features to optimize greater precision and comfort.
IndependentsJul 25, 2024
Store Designer Ruth Mellergaard DiesA longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
FinancialsJul 25, 2024
Boucheron, Pomellato Post Double-Digit Growth in Q2 The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
MajorsJul 25, 2024
Shane Co. Partners With Kids In Need Foundation to Donate 7,200 BackpacksThe fine jewelry retailer filled backpacks with back-to-school essentials for students in 13 states.
FinancialsJul 24, 2024
LVMH’s First-Half Jewelry, Watch Sales Dip 5%Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
MajorsJul 24, 2024
See Chaumet’s Paris Olympic Medals Inspired by its High JewelryThe Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
MajorsJul 24, 2024
Jewelers Mutual Acquires Pawnbroker Insurance ProviderUnion Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
MajorsJul 24, 2024
Ben Bridge Announces 2024 Lonia Tate Scholarship WinnerLos Angeles-based Bradlei Smith was selected for this year’s award.
ColumnistsJul 23, 2024
Peter Smith: The Case for Optimism in Sales In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
SourcingJul 23, 2024
De Beers’ Production Drops 15% in Q2The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
IndependentsJul 23, 2024
Long’s Jewelers Is Giving Away a Luxury Cape Cod VacationThe giveaway is part of the New England jeweler’s summer bridal event.
CollectionsJul 23, 2024
Guzema Debuts ‘Flower Power’ CampaignThe ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
CrimeJul 22, 2024
Florida Jeweler Shot, Killed Following Argument With CustomerGhazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
SourcingJul 22, 2024
AWDC Names Karen Rentmeesters as CEORentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
IndependentsJul 19, 2024
Longtime D.C. Jeweler Brian Mann Dies at 70Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
IndependentsJul 19, 2024
The 1916 Company Opens New Tudor BoutiqueThe 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
CollectionsJul 19, 2024
Piece of the Week: Messika’s ‘So Move Max’ NecklaceDance all night long with the “So Move Max” set’s necklace.
WatchesJul 18, 2024
TAG Heuer, Hublot Will Have New CEOs Luxury giant LVMH is reshuffling the leadership in its watches division.
MajorsJul 18, 2024
New Etsy Campaign Prioritizes Creators Amid BacklashSellers and shoppers have spoken out against a rise in mass-produced merchandise on the platform meant to highlight handmade goods.
MajorsJul 18, 2024
Swarovski Names Ariana Grande as Its New Brand AmbassadorThe celebrity will star in Swarovski’s holiday campaign.
