A Closing Window of Access - April 2026

Diamond mines are under extreme pressure, due to falling prices and demand.

All Canadian diamond mines are losing copious amounts of money, and as a result, they cannot raise the capital to maintain basic operations. The Diavik mine is lucky its’ productive life ended, just in time to avoid financial complications. 

Diamond mining ventures are shutting down worldwide, as financing dries up. When unviable ventures disappear, they leave behind stronger, more consolidated participants. Fewer mines equal less supply and, fewer players can control both supply and pricing more effectively.

There is a great deal of local concern over the supply of Canadian diamonds, with only two Canadian mines remaining, Ekati and Gahcho Kue. Gahcho Kue is scheduled to close in two years and Ekati a year or two later, if they can holdout. Those who love Canadian diamonds need to be aware of the closing window of access to these diamonds.

Changing topics, Rapaport recently made major changes to their diamond price list. Often, changes to this list are misinterpreted.

Major changes do not occur often and, when they do, it is because the market has already adjusted. Variations to the list do not mean that prices declined the day it is published. It means that, there has been a growing misalignment between the old lists’ prices and current actual trading prices. In other words, the market moves before the list changes. The Rapaport Price List does not control the market; it reacts to it.

When Regal Imports reprices its’ inventory, we do it in real time based upon our most current purchases and research. We price our diamonds like the precious metal market prices gold, and unfortunately, we have had to reduce prices consistently over the last few years.

We bite the bullet, when necessary, and this exercise can be quite painful. However, we have been around for 48 years and we can absorb the punishment, unlike many in the diamond mining sector. Still, we anticipate a positive market swing and an end to this bloodletting. 

And that’s the Regal Imports News for late April.