Lab-GrownNov 04, 2022
Lab-Grown Diamond Brand Lightbox Names New CEO SourcingNov 22, 2022
Head of Australian Miner Burgundy Diamond Resigns
The company announced the resignation of Peter Ravenscroft late last week, effective immediately.
Rough diamonds from the Ellendale Diamond Mine in Western Australia, where Burgundy Diamond Mines is working to restart operations. Peter Ravenscroft, the head of Burgundy, just resigned with immediate effect.
Perth, Australia—The head of Burgundy Diamond Mines Ltd., the company mining yellow diamonds at Ellendale in Western Australia, has resigned, the company announced late last week.
Burgundy gave no reason for the departure of Managing Director and CEO Peter Ravenscroft, noting only that his departure was effective immediately and thanking him for his “dedication and service” to the company.
The board named Kim Truter, who was appointed as a non-executive director in September 2020 and selected as non-executive chair of the board in December 2021, as interim CEO.
Truter has more than 30 years of experience at both aboveground and underground operations, including diamond mines in Canada, Australia, and Africa. He most recently worked at De Beers Canada and, prior to that, Rio Tinto Diamonds.
Michael O’Keeffe, who was appointed to the company’s board in June 2017, was named executive chairman.
O’Keeffe served as managing director of Glencore Australia Ltd. from 1995 to 2004 and executive chairman of Riversdale Mining Ltd. before Rio Tinto acquired it in 2011.
He is currently the executive chairman and former CEO of Champion Iron Ltd., which operates an iron ore project in Canada.
Based in the Australian city of Perth, Burgundy is one of two companies working to revive mining at Ellendale, a site famed for its bright yellow diamonds and once the supplier to Tiffany & Co.
The company said in March it expects to start production by year’s end and announced the recovery of its first diamond from the site in September.
Related stories will be right here …
Burgundy gave no reason for the departure of Managing Director and CEO Peter Ravenscroft, noting only that his departure was effective immediately and thanking him for his “dedication and service” to the company.
The board named Kim Truter, who was appointed as a non-executive director in September 2020 and selected as non-executive chair of the board in December 2021, as interim CEO.
Truter has more than 30 years of experience at both aboveground and underground operations, including diamond mines in Canada, Australia, and Africa. He most recently worked at De Beers Canada and, prior to that, Rio Tinto Diamonds.
Michael O’Keeffe, who was appointed to the company’s board in June 2017, was named executive chairman.
O’Keeffe served as managing director of Glencore Australia Ltd. from 1995 to 2004 and executive chairman of Riversdale Mining Ltd. before Rio Tinto acquired it in 2011.
He is currently the executive chairman and former CEO of Champion Iron Ltd., which operates an iron ore project in Canada.
Based in the Australian city of Perth, Burgundy is one of two companies working to revive mining at Ellendale, a site famed for its bright yellow diamonds and once the supplier to Tiffany & Co.
The company said in March it expects to start production by year’s end and announced the recovery of its first diamond from the site in September.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
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.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
