ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
SourcingOct 23, 2013
New projects improve diamond supply outlook
Amid industry concerns about the dwindling supply of diamonds, a number of announcements surfaced this week regarding new projects that will open up additional sources for mining the stones.
New York--Amid industry concerns about the dwindling supply of diamonds, a number of announcements surfaced this week regarding new projects that will open up additional sources for mining the stones.
On Tuesday, De Beers Canada and Mountain Province Diamonds announced that the Canadian federal government had approved development of the Gahcho Kué diamond mine in the Northwest Territories.
The Minister of Aboriginal Affairs and Northern Development, Bernard Valcourt, put his stamp on the project, which will pave the way for the Mackenzie Valley Land and Water Board to begin processing applications for water and land-use permits.
“The minister’s approval confirms that the plans for the development and operation of the Gahcho Kué diamond mine will benefit the economy and residents of the Northwest Territories and enhance Canada’s position as a premier diamond producer,” De Beers Canada CEO Tony Guthrie said in a statement.
Located 280 kilometers (174 miles) northeast of Yellowknife, Northwest Territories, the mine is a joint venture project of De Beers (51 percent) and Mountain Province (49 percent). Gahcho Kué will employ nearly 700 people during its two-year construction process and approximately 400 while operating. It’s predicted to produce an average of 4.5 million carats per year over its 11-year life.
De Beers also has started construction of a new underground mine below its open-pit Venetia Mine in Limpopo Province, South Africa. The company has invested $2 billion in the project, which will extend the life of Venetia beyond 2040.
Underground production is slated to begin in 2021. De Beers expects the mine to produce an estimated 96 million carats over its lifetime. It will create 8,000 jobs directly, as well as 5,000 more through the supply chain.
“There can be no greater vote of confidence by our shareholders in South Africa and De Beers than the decision to build an underground mine of the future here at Venetia, one of a handful of world-class diamond mines around the world,” said Philippe Mellier, CEO of the De Beers Group.
“With production set to continue into the 2040s, Venetia will support South Africa’s mining economy for generations to come and make diamond moments possible for millions of people around the world.”
Meanwhile, Canada’s Dominion Diamond Corp. announced Wednesday that it has filed an application with the Wek'éezhìi Land and Water Board for a new land use permit and water license to expand its Ekati Diamond
Editors' Picks
Sponsored by
Mine to include the Jay and Cardinal kimberlite pipes (the Jay-Cardinal project).
The application is the first step in the regulatory approval process for the project. Environmental assessment approval is anticipated before the end of 2015, after which construction would begin, allowing for the anticipated release of diamond-bearing kimberlite to the process plant by 2019.
The Jay and Cardinal kimberlite pipes are located in Lac du Sauvage in the southeastern portion of the Ekati mine property. Drilling at the Jay site to date has produced 78 million carats of indicated resource and 13 million carats of inferred resource.
Dominion has identified the Jay-Cardinal project as “the cornerstone of (the company’s) strategy for building a long-term, sustainable Canadian diamonds business.”
The project has the potential to extend the operating life of the Ekati Diamond Mine for another 10 to 20 years past the current scheduled closing date in 2019.
Dominion Diamond Corp., formerly Harry Winston Diamond Corp., purchased the Ekati Diamond Mine from BHP Billiton in April, following the sale of the retail arm of Harry Winston to Swatch Group a month earlier.
The application is the first step in the regulatory approval process for the project. Environmental assessment approval is anticipated before the end of 2015, after which construction would begin, allowing for the anticipated release of diamond-bearing kimberlite to the process plant by 2019.
The Jay and Cardinal kimberlite pipes are located in Lac du Sauvage in the southeastern portion of the Ekati mine property. Drilling at the Jay site to date has produced 78 million carats of indicated resource and 13 million carats of inferred resource.
Dominion has identified the Jay-Cardinal project as “the cornerstone of (the company’s) strategy for building a long-term, sustainable Canadian diamonds business.”
The project has the potential to extend the operating life of the Ekati Diamond Mine for another 10 to 20 years past the current scheduled closing date in 2019.
Dominion Diamond Corp., formerly Harry Winston Diamond Corp., purchased the Ekati Diamond Mine from BHP Billiton in April, following the sale of the retail arm of Harry Winston to Swatch Group a month earlier.
More on Sourcing
The Latest
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
