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Category: Diamonds

Local Diamonds Economy News

Angola Opens Sixth Diamond-Cutting Factory in Saurimo to Boost Local Diamond Value Addition

Angola Opens Sixth Diamond-Cutting Factory as Saurimo Strengthens Its Position as a Diamond Processing Hub Angola has strengthened its domestic diamond-processing industry with the inauguration of a new diamond-cutting factory in Saurimo, Lunda Sul Province, bringing the number of operational cutting facilities at the Saurimo Diamond Development Hub to six. The new facility, operated by Diarough Angola, was officially opened by Minister of Mineral Resources, Oil and Gas Diamantino Azevedo on Saturday, marking another step

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Corporate News Diamonds International

Sandvik to Supply 15-Unit Underground Fleet for Lucara’s Karowe Mine

Sandvik to Supply 15-Unit Underground Mining Fleet for Lucara’s $779 Million Karowe Project in Botswana Sandvik has secured an order from Lucara Botswana to supply a 15-unit underground mining fleet for the Karowe diamond mine in Botswana, supporting the operation’s transition from open-pit to underground mining. The equipment package includes development drills, loaders, a cable bolter and a longhole drill, along with spare parts, rock tools and aftermarket services.  Deliveries are already under way and

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Corporate News Diamonds International

Lucara Revenue Falls 6% as Karowe Underground Project Advances

Lucara Revenue Falls 6% to $41 Million as Karowe Underground Project Advances Toward 2028 Production Botswana-focused diamond producer Lucara Diamond Corp. reported a 6% year-on-year decline in second-quarter revenue to $41 million, mainly due to lower carat sales and a weaker average price for diamonds weighing less than 10.8 carats. The company recovered 90,082 carats during the quarter, including 176 special diamonds weighing more than 10.8 carats. The period also included the sale of the

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Diamonds Local News

Angola’s Diamond Push Gains Momentum as New Mines Reshape the Industry

Angola Diamond Industry Targets Global Top Two by 2030 With New Mining Projects Angola is stepping up efforts to strengthen its diamond industry, targeting a rise to the world’s second-largest diamond producer by 2030 through increased investment, structural reforms and stronger transparency standards. The government says the ambition will be supported by strategic partnerships with international mining companies and the expansion of major projects that can significantly increase national output. The Luele mine in Lunda

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Diamonds International News

Botswana Regains Duty-Free Access to U.S. Market as Temporary Tariffs Expire

Botswana Diamond Exports Return to 0% U.S. Tariff as Section 122 Duties Expire Botswana’s exports to the United States, including its globally renowned natural diamonds, have regained duty-free access following the expiry of temporary U.S. tariffs on 24 July 2026. The expiration of the Section 122 tariffs under the U.S. Trade Act of 1974 means Botswana-origin products now face a 0% tariff while continuing to benefit from preferential market access under the African Growth and

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Corporate News Diamonds International

Anglo American Denies Favouring Buyer as De Beers Sale Talks Continue

Anglo American Says No Preferred Bidder as De Beers Sale Could Fetch $1 Billion Anglo American has denied favouring any particular buyer for its diamond business, De Beers, as the mining group continues to explore options for the struggling unit. Anglo American CEO Duncan Wanblad said on Thursday that the company was “not exclusive with any consortium”, rejecting reports that it was favouring a consortium led by former De Beers CEO Gareth Penny. The comments

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International Diamonds News

African Diamond Producers Struggle to Recover as Market Pressures Persist

African Diamond Miners Face Continued Market Pressure in First Half of 2026 Africa’s diamond industry continued to face challenging market conditions in the first half of 2026, with major producers in Botswana, South Africa, Namibia and Lesotho struggling to achieve a sustained recovery in natural diamond demand. Financial results released during the period point to continued pressure across the industry, driven by weaker prices, economic uncertainty and growing competition from laboratory-grown diamonds. In South Africa,

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Diamonds Corporate News International News

Botswana’s Diamond Legacy Shines With Discovery of 1,300-Carat Gem

Botswana Highlights Diamond Leadership After Lucara Recovers 1,300-Carat Stone Botswana has reaffirmed its position as one of the world’s leading diamond-producing nations following the recovery of an extraordinary 1,300-carat diamond by Lucara Botswana. President of Botswana highlighted the discovery as a major milestone for the country’s diamond industry after the stone was presented by Lucara Botswana. The diamond is among the largest ever recovered by the company and ranks as the sixth-largest diamond ever discovered

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Corporate News Diamonds International

Anglo American Nears $1bn Sale of De Beers as Diamond Crisis Deepens

Anglo American in Talks to Sell De Beers for About $1bn as Diamond Market Struggles Anglo American is in discussions to sell its De Beers diamond business for about $1 billion, a fraction of the value attached to the company when it was once the world’s dominant diamond producer. Anglo American has been seeking to divest De Beers since rejecting BHP Group’s nearly $50 billion takeover approach in 2024. However, the sale process has been

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Corporate News Diamonds International

Petra Diamonds Revenue Falls to $38 Million as Finsch Mine Rescue Process Continues

Petra Diamonds Revenue Drops to $38 Million as Debt Rises and Finsch Mine Remains Suspended London-listed Petra Diamonds reported a sharp decline in fourth-quarter revenue as financial pressure and operational challenges continued across the business. Revenue for the fourth quarter of the 2026 financial year fell to $38 million from $68 million in the third quarter, while consolidated net debt increased to $322 million as at June 30, from $298 million at March 31. The

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