The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
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
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 Latest

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

As the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.


Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

You deserve to know what you are selling–to protect your customers as well as your business and your reputation.

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

The New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Making its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.

It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.

Gemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.

In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.

The new showcase dedicated to Italian jewelry design is set for Oct. 29-30.

Take a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.

Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.

The new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.

The holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.

The brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.

Corey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.

Charles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.

Timepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.

The auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.

As chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.