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
FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEOThe announcement coincided with its full-year results, with growth driven by its jewelry brands.
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show SuccessJewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
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.
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed LemurThis little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Weekly QuizMay 16, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from AuctionDespite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve DoneLilian Raji gives advice to designers on how to make the most of great publicity opportunities.
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire BrandsWhy do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips GenevaThe “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Events & AwardsMay 15, 2024
See Who’s in JA’s 2024 ‘20 Under 40’ ClassThe annual list recognizes young professionals making an impact in jewelry retail.
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 YearsOwner David Mann is heading into retirement.
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1 While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
