De Beers Rough Diamond Output Rises 88% as Botswana Operations Drive Production Recovery Global diamond producer De Beers has reported a significant increase in rough diamond production, with output rising 88% year-on-year to 7.8 million carats in the second quarter of 2026. The increase lifted the company’s first-half production to 14.91 million carats, representing a 46% rise compared with the same period last year. De Beers attributed the growth mainly to the recovery of production
ENDIAMA Highlights Sustainable Diamond Mining and Transparency During Kimberley Process Assessment in Angola Angola’s state-owned diamond company, ENDIAMA E.P., has reaffirmed its commitment to responsible diamond mining, transparency and sustainable development during a review visit by a delegation from the Kimberley Process Certification Scheme (KPCS). The delegation, currently in Angola to evaluate the country’s implementation of rough diamond certification mechanisms, met with ENDIAMA’s Board of Directors on Monday as part of the official assessment process.
Botswana Weighs De Beers Stake Purchase After Anglo American Picks Preferred Buyer Anglo American has selected a preferred buyer for its stake in diamond producer De Beers, with Botswana considering whether to use its right of first refusal to acquire the stake independently, alongside the chosen bidder, or with another partner. Anglo American placed De Beers up for sale in 2024 as part of a wider restructuring strategy following a prolonged decline in diamond prices
Botswana Unearths 1,305-Carat Diamond in Another Historic Discovery at Karowe Mine Botswana has uncovered a massive 1,305-carat diamond at the Karowe Diamond Mine, marking another major discovery for the country’s world-renowned diamond industry. The exceptional gemstone was recovered by Lucara Diamond Corp, the operator of the Karowe mine in Botswana, using advanced X-ray transmission (XRT) technology designed to identify and recover large, high-value diamonds while reducing the risk of damage during processing. The discovery adds
De Beers Suspends Operations at South Africa’s Largest Diamond Mine Amid Global Market Downturn De Beers has suspended operations at the Venetia diamond mine in South Africa, the country’s largest diamond-producing operation, as the company responds to a prolonged downturn in the global diamond market. The temporary shutdown is part of a wider cost-reduction strategy as the diamond industry faces weaker consumer demand, declining prices, and increasing competition from lab-grown diamonds. The Venetia mine, located
De Beers to Halt Venetia Diamond Mine Production for Two Years as Weak Demand Reshapes Industry De Beers has announced it will suspend production at its Venetia Mine in South Africa for two years as the company responds to the prolonged downturn in the global rough diamond market. The mine, South Africa’s highest-value diamond operation, will temporarily halt production as De Beers reduces costs and restructures its business ahead of its planned separation from parent
Dubai Diamond Exchange and London Diamond Bourse Forge Strategic Partnership to Strengthen Global Diamond Trading The Dubai Multi Commodities Centre (DMCC), the international business district that facilitates global trade through Dubai, has announced the signing of a memorandum of understanding (MoU) between the Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) to strengthen cooperation between the two trading centres and expand opportunities for their members. The agreement establishes a framework for closer collaboration,
De Beers Reduces Diamond Prices in Major Shift as Weak Demand and Lab-Grown Stones Pressure Market De Beers has introduced some of its largest official diamond price reductions in years, marking a significant shift in strategy as the company responds to prolonged weakness in the global diamond market. The price cuts come during the company’s first sales cycle after reducing the number of its selected diamond buyers, known as sightholders. The move is part of
Angola’s Sodiam Earns $21.7 Million from Diamond Auction as Sales Surpass Expectations by 23% Angola’s National Diamond Trading Company (Sodiam) generated US$21.7 million from the sale of 35 special rough diamonds at an auction held in Luanda, exceeding the expected value by 23%, according to a company statement. The auction featured 35 exceptional diamonds produced by the mining companies Luele, Catoca, Mussende, Lulo, Calonda, Cuilo, Kwenda, Kaixepa, Cuango, Somiluana and Mucuanza. Also included in the
Petra Diamonds Puts Finsch Mine Into Business Rescue, Retrenchments at Cullinan Could Threaten 1,800 Jobs South Africa’s diamond mining industry is facing renewed pressure after Petra Diamonds placed its Finsch Diamond Mine under business rescue and launched retrenchment proceedings at its Cullinan operation, placing nearly 1,800 jobs at risk. The developments have sparked concern across the mining sector and drawn strong criticism from the National Union of Mineworkers (NUM), which is urging the government to
