GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
SourcingFeb 13, 2014
De Beers: Diamond demand to rise slightly in ’14
Global demand for diamonds will increase slightly in 2014, fueled by a desire for polished diamonds in the United States and China, De Beers said when releasing it annual results Friday.
London--Global demand for diamonds will increase slightly in 2014, fueled by a desire for polished diamonds in the United States and China, De Beers said when releasing it annual results Friday.
In 2013, De Beers’ sales increased 5 percent to $6.4 billion, compared with $6.1 billion in 2012. Operating profit rose 112 percent to $1.00 billion due to improved prices, largely owing to the product mix, and a weaker South African rand.
Diamond jewelry sales were up in all major markets in 2013, except India. The U.S. market, specifically, posted positive growth and the holiday season was “generally strong,” the company said.
De Beers said its diamond brand, Forevermark, is now carried by 1,200 stores in 12 countries, a 39 percent increase in doors as compared with 2012. The growth of the brand is driven primarily by the United States along with Japan, China and India.
Meanwhile, De Beers Diamond Jewellers, the chain of retail stores De Beers operates in a joint venture with LVMH Moët Hennessy Louis Vuitton, opened directly operated stores in Shanghai, China and Hong Kong’s Times Square as well as stores in Kuala Lumpur, Malaysia; Baku, Azerbaijan; Vancouver, British Columbia; and Kiev, Ukraine that are franchise partnerships.
Although rough diamond prices increased slightly in the first half of the year, De Beers said weaker polished prices, high levels of stock in the cutting centers and tightening liquidity pulled it down in the back half of the year. The rough market, however, did stabilize toward the end of 2013.
On the production side, De Beers mined 12 percent more rough diamonds in 2013, 31.2 million carats compared with 27.9 million carats in 2012. The increase was due to the full restoration of operations at Jwaneng in the third quarter following the slope failure incident in June 2012 and greater volume and higher grades coming out of the Snap Lake mine in Canada.
In September, the first blast took place on the construction of an underground mine beneath the open-pit Venetia mine in South Africa. Going underground at Venetia will cost the company $2 billion, De Beers’ largest investment ever in South Africa. Production on the underground portion of Venetia is expected to begin in 2021 and extend the life of the mine beyond 2040. It is estimated it will produce 94 million carats of diamonds.
In addition, infrastructure construction at the Jwaneng Cut-8
Editors' Picks
Sponsored by
project in Botswana was finished. The extension will provide access to an estimated 96 million tons of ore that contains about 113 carats of mainly high-quality diamonds, extending the life of the mine to at least 2028.
De Beers noted that there were no fatal accidents at its mines in 2013.
The year was a big one for De Beers. The diamond miner and marketer finished moving its sales operations from London to Gaborone, Botswana and, in July, opened the Element Six Global Innovation Centre in the United Kingdom. It is billed as the world’s largest and most sophisticated synthetic diamond research and development facility, though the company has said the center’s focus is industrial diamonds, not gem-quality stones.
RELATED CONTENT: De Beers spending $32M on synthetics facility
De Beers, which is wholly owned by London-based mining company Anglo American PLC, expects global demand for diamond jewelry to grow slightly in 2014, fueled by growing demand for polished diamonds in the United States and China particularly.
“De Beers had a good year and was able to increase output against a background of rising demand,” Anglo American CEO Mark Cutifani said. “The world economy should also strengthen in 2014 and 2015 as we continue to emerge from the challenges of the global financial crisis. China should continue to grow by around 7 percent and the diminishing effects of fiscal tightening should support a firmer recovery in the U.S. and beyond.”
More on Sourcing
The Latest
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
