Inaugural National Diamond Conference Spotlights Economic Potential and Development Impact

The 1st National Diamond Conference, organized by CATOCA Chair and the Center for Studies and Scientific Research of the Higher Metropolitan Polytechnic Institute of Angola, convened in Luanda under the theme “Economic Potential and the Impact of Its Industry on National Development.” During the opening address, Paulo Tanganha, the national director for Mineral Resources at the Ministry of Mineral Resources, Petroleum and Gas, underscored the pivotal role of the diamond sub-sector in driving Angola’s economy.

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Diamcor Mining Extends Closing Date for Second Tranche of Private Placement

Diamond mining company Diamcor Mining is seeking to extend the closing date for the second tranche of its non-brokered revised private placement, following the successful closure of the first tranche on June 4. Initially announced on May 1, the original offering was expected to be oversubscribed. Consequently, Diamcor is seeking additional time to finalize documentation and other required items for several additional interested investors. The second and final tranche of the offering is now expected

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Tragic Accident at Debswana’s Jwaneng Mine Results in Fatality

Debswana has reported a tragic accident at their Jwaneng Mine operations on the morning of June 17, 2024. The incident involved a crane and a drill rig, leading to the fatal injury of an employee from one of their business partners, according to Matshidiso Kamona, Senior Corporate Affairs Manager responsible for brand and stakeholder relations. An investigation is currently underway to determine the circumstances surrounding the accident. Debswana has assured that all relevant stakeholders will

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Sociedade Mineira do Cuango to Boost Diamond Production

Sociedade Mineira do Cuango, located in the Lunda-Norte province, anticipates increasing its diamond production from the current 23,000 to 28,000 carats per month starting in the second half of the year. This announcement was made by Hamilton Carvalho, the interim director for Mining Operations. Carvalho shared this update during a press event held as part of the company’s Social Responsibility initiatives. He revealed that after two years of prospecting, new profitable deposits have been identified

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Angola and De Beers Discuss Progress on Diamond Partnership

On Monday, in Luanda, a meeting was held between Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and De Beers Group’s Operations Director, Moses Madondo, to discuss the implementation of the Strategic Memorandum of Understanding (MoU) in the diamond sector. According to Jornal de Angola, citing the Ministry of Mineral Resources, Oil and Gas, the meeting focused on assessing the progress of the MoU, which was signed in Cape Town, South Africa, in

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Botswana Government Considers Increasing Stake in De Beers Amidst Potential Sale

President Mokgweetsi Masisi disclosed to JCK News the possibility of the Botswana government raising its shareholding in the global diamond miner De Beers. This comes in the wake of parent company Anglo American’s announcement of plans to spin off or divest the business. Currently, the government holds a 15% stake in De Beers, with Botswana contributing 70% of the company’s annual rough diamond supply. Anglo’s strategic review, which includes a potential sale or divestment of

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De Beers Unveils Ambitious Five-Year Plan to Dominate Luxury Jewelry Market

De Beers, the world’s largest diamond producer by value and currently up for sale by parent company Anglo American, has launched an ambitious five-year strategy to reposition itself as the leading jewelry group in the market. While De Beers already sells diamond jewelry through its global retail boutiques, Chief Executive Al Cook aims to expand the number of outlets to compete with profitable luxury brands such as Tiffany and Cartier. “If I look at the

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Top 10 diamond producing countries in Africa

It is no secret that Africa is rich in valuable minerals crucial for economic development, ranging from extensive oil reserves to lush agricultural lands. The continent possesses about 30% of the world’s total mineral reserves, including gold, copper, platinum, cobalt, uranium, lithium, and more, all of which play pivotal roles in diverse industries, from electronics and infrastructure to energy production. What is fascinating is that these mineral riches are not concentrated in one specific region

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De Beers Halts Lab-Grown Diamond Production to Focus on Natural Gems

De Beers announced a strategic overhaul, ceasing the production of synthetic diamonds for its Lightbox consumer brand to concentrate on manufacturing and selling natural polished diamonds. This pivot aligns with the company’s new “Origins” strategy, emphasizing the value of natural diamonds and technology over synthetic jewelry. Transition to Technology Hub At the JCK Las Vegas breakfast event, De Beers CEO Al Cook explained that the company will streamline its Element Six business, merging its three

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Gem Diamonds Recovers 212.49 ct Type II Diamond from Letšeng Mine

Gem Diamonds has recovered a 212.49 carat Type II white diamond from its 70%-owned Letšeng mine in Lesotho. This marks the sixth diamond weighing over 100 carats to be recovered from the mine this year. Located in the Maluti Mountains of Lesotho, the Letšeng mine is renowned for producing large, high-quality Type II diamonds. These exceptional diamonds, each weighing over 100 carats, contribute 70% to 80% of Gem Diamonds’ annual revenue.

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