CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
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
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
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
