November 2025 | Lab Grown Magazine

November 2025 | The Lab Grown Diamond Resource Book 28 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | November 2025 29 #1711 Scan this QR code to see our digital bridal flipbook on the go. W I T H B R I L L I A N C E L E A D I N G D E S I G N I N G W I T H I N N O VAT I O N L A R G E S T S E L E C T I O N O F L A B G R O W N D I A M O N D S E N G A G E M E N T & W E D D I N G B A N D S 1-866-368-5700 | sales@gemstarco.com | www.gemstarco.com TM A 2-PART SERIES BY DAN SCOTT or decades, the inner circle of the diamond world has assembled ten times each year for an invitation- only event. Hundreds of millions of dollars of uncut gems change hands in a matter of days.  Until they didn’t. The secretive gatherings hosted by De Beers has lost some key executives from the diamond party of late. In recent months, De Beers sales have been roiled by tensions, as a prolonged crash crippling the diamond market has left the group floundering for answers. This has left many of their buyers furious. Several principals have simply stopped showing up at all. In this series, we’ll examine how De Beers being on the block (with no takers for over a year) and their sudden termination of Lightbox Diamonds are warning signs to a diamond future. A future that signals harbingers to LGDs. The results are positive signals amongst a sea of complications for LGD’s counterparts. While De Beers struggles with fracturing relationships and plummeting demand, their owner, Anglo American, is trying to find a way out. When Anglo CEO Duncan Wanblad announced a restructuring after rejecting a takeover proposal, the only issue both sides agreed on was that neither wanted to own the world’s most famous diamond company. Anglo has promised it will exit diamonds to focus on mining copper and iron ore. For decades, the inner sanctum of the diamond sector has assembled. The invitation-only event is where hundreds of millions of dollars of uncut gems changed hands in days . Until they didn’t. In 2023, the industry almost came to a complete standstill. Rio Tinto and Anglo American, two of the biggest miners, all but stopped supplies in a desperate attempt to stem a collapse in prices. In 2024, De Beers refused to lower its diamond prices and many of its customers simply refused to buy. When it finally capitulated, the cuts were too little, too late. “My prime responsibility is the value of De Beers,” said CEO Al Cook. “But that is also what the industry needs.”