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Category: Diamonds

Diamonds Corporate News International

Lucara Reports Strong Financing Progress and Underground Expansion Momentum at Karowe Mine

Lucara Diamond Strengthens Balance Sheet as Karowe Underground Project Advances Toward 2028 Production Lucara Diamond Corporation has reported a “transformational” first quarter, driven by the successful completion of equity and bond financing for its Karowe underground project (UGP) in Botswana. The funding milestone has significantly strengthened the company’s balance sheet and positioned it for long-term value creation. For the three months ended March 31, Lucara recorded revenue of US$21.8 million, reflecting a higher proportion of

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Corporate News Diamonds International

Petra Diamonds Launches Cost Cuts as Debt Rises and Market Pressures Hit Operations

Petra Diamonds Reviews Capex and Considers Finsch Mine Suspension Amid Weak Diamond Prices and Rising Debt London-listed Petra Diamonds has launched an urgent review of costs and capital expenditure (capex) across its operations as it moves to protect liquidity amid sustained pricing pressure in the global diamond market. The company is also considering suspending further capex at its Finsch mine in South Africa due to escalating cost pressures. In its operational update for the quarter

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Diamonds International Mining Personality

Ronnie VanderLinden Appointed President of World Diamond Council

World Diamond Council Names Ronnie VanderLinden President Amid Natural Diamond Industry Challenges Ronnie VanderLinden has been appointed president of the World Diamond Council (WDC) following the organisation’s 2026 Annual General Meeting held in Antwerp on May 7. Mr VanderLinden succeeds Feriel Zerouki at a time when the global natural diamond industry is facing weaker demand, increasing competition, and fragmented messaging across the sector. In his first remarks as president, Mr VanderLinden stressed the need for

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Diamonds International News

New Study Reveals Deep Mantle Origins of the World’s Rarest Diamonds

Scientists Trace Origin of Rare CLIPPIR Diamonds to Iron-Rich Mantle Zones Deep Beneath Earth’s Surface The formation of the world’s rarest and most valuable gem-quality diamonds known as CLIPPIR diamonds (Cullinan-like, large, inclusion-poor, pure, irregular and resorbed) has long puzzled scientists. A new study led by University of Cape Town (UCT) now provides critical insights into their origin deep within the Earth’s mantle. Conducted by the Kimberlite Research Group (KRG) in the Department of Geological

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Diamonds Local News

Angola Inaugurates New Diamond Processing Plant in Lunda Norte to Boost Output

Angola Opens $9M Diamond Processing Plant in Lunda Norte, Increasing Capacity by 140% The Governor of Lunda Norte, Filomena Miza, has inaugurated a new Recovery and Processing Plant (CRP) at the Chitotolo Mining Company, marking a significant investment in Angola’s diamond sector. The ceremony was attended by the Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo, alongside other government and industry officials. Production boost and job creation Miza said the new plant is

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Corporate News Diamonds International

Burgundy Diamond Unit Seeks Insolvency Protection as Market Pressures Mount

Burgundy Diamond Subsidiary Arctic Canadian Files for Insolvency Protection Amid Weak Diamond Demand and Rising Costs ASX-listed Burgundy Diamond Mines has announced that its subsidiary, Arctic Canadian Diamond Company, has filed for insolvency protection under Canada’s Companies’ Creditors Arrangement Act (CCAA) in British Columbia. The Supreme Court of British Columbia has granted the application, allowing Arctic to begin a court-supervised restructuring process. The company will now engage with lenders, creditors, and other stakeholders to explore

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Diamonds Economy Local

Lunda Norte Inaugurates Chitotolo Diamond Plant to Boost Production and Jobs

Angola Opens $9M Chitotolo Processing Plant in Lunda Norte, Raising Diamond Output Capacity by 140% The governor of Lunda Norte, Filomena Miza, has inaugurated the new Recovery and Processing Plant (CRP) of the Chitotolo Mining Company in a ceremony attended by the Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo. The new facility is expected to significantly increase diamond production capacity while creating additional employment opportunities in the province, supporting both local livelihoods

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Diamonds Corporate News Economy Local

Endiama and Rio Tinto Launch Chiri Mining Venture for Diamond Exploration in Angola’s Lunda Sul

Angola Launches Chiri Mining JV as Endiama and Rio Tinto Begin Diamond Exploration in Lunda Sul Angola’s state-owned Endiama and global mining company Rio Tinto have officially launched the Chiri Mining Company, a joint venture that will carry out diamond prospecting and exploration in the Lunda Sul province. The company was formally established during a ceremony attended by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, marking a new phase in the country’s

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Diamonds Corporate News International

De Beers Diamond Output Rises 17% in Q1 on Strong Botswana and Canada Performance

De Beers Q1 Production Up 17% to 7.1M Carats as Botswana, Canada and South Africa Drive Growth Despite Price Decline Diamond producer De Beers reported a 17% year-on-year increase in rough diamond production to 7.1 million carats for the quarter ended March 31, driven mainly by planned ore releases at the Gahcho Kué mine in Canada and higher output from the Venetia underground mine in South Africa. On a quarter-on-quarter basis, production surged by 88%,

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Diamonds International News

India-Led Kimberley Process Pushes for Digital Traceability and Stronger Diamond Certification Standards

Kimberley Process Chair Calls for Digital Traceability and Stronger Compliance to Boost Global Diamond Certification Credibility The Kimberley Process (KP) must strengthen its digital communication systems and adopt more robust traceability standards to reinforce trust in the global diamond certification system, according to KP 2026 Chair Suchindra Misra. Misra, appointed by the Government of India to lead the initiative this year, emphasized the need to modernise the Kimberley Process Certification Scheme (KPCS) to address emerging

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