Category: Diamonds

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

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De Beers CEO Says Sale Could Be Finalized Within Weeks as Global Diamond Giants Compete for Anglo American Stake The sale of De Beers, the diamond unit of Anglo American, is closer than ever to completion, according to Chief Executive Officer Al Cook, who said a deal could be concluded within weeks. Anglo American placed De Beers one of the world’s leading diamond companies with operations and exploration assets across Botswana, Namibia, Angola, South Africa,

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US Diamond Demand Shifts as Gen Z Fuels Growth in Natural Diamond Purchases, De Beers Reports Diamond producer De Beers has released new findings on US consumer behaviour in its latest US Diamond Acquisition Study, revealing that jewellery featuring natural diamonds remains the most desirable luxury choice among American consumers. The study, based on a survey of 18,500 women across the United States the world’s largest diamond market provides detailed insights into purchasing trends, motivations,

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GIA Acquires 30% Stake in Tracr, Strengthening Blockchain-Based Diamond Provenance and Traceability The Gemological Institute of America (GIA) has signed a definitive agreement to acquire a 30% shareholding in Tracr, the blockchain-powered diamond provenance platform originally developed by De Beers Group. The investment marks a major milestone in Tracr’s transition toward becoming an independent, industry-wide platform and reflects growing confidence in its ability to enhance transparency, traceability, and provenance across the global natural diamond value

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Lucara’s Karowe Mine Delivers Strong 2025 Output as Underground Expansion Advances Toward 2038 Life Extension Lucara Diamond Corp recorded a strong operational performance in 2025 at its Karowe Mine in Botswana, processing 2.79 million tonnes of ore and recovering 354,467 carats of diamonds. The production included a significant number of large, high-value stones that continue to reinforce Karowe’s global reputation as a premier diamond source. During the year, the mine recovered 772 “special” diamonds weighing

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Petra Diamonds Places Finsch Mine Under Business Rescue Amid Prolonged Diamond Market Weakness London-listed Petra Diamonds has placed its Finsch mine in South Africa under business rescue as part of a broader restructuring effort aimed at stabilizing the company amid continued weakness in the global diamond market. The decision comes as the company faces sustained pressure from declining diamond prices, a stronger South African rand, and weakening demand for smaller-sized stones. Petra Diamonds Chief Executive

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