WFDB Urges Global Diamond Industry to Defend Natural Diamonds as Lab-Grown Sales Surge The World Federation of Diamond Bourses (WFDB) President Yoram Dvash has voiced serious concern over the rapid rise of synthetic diamonds, warning that their growing market share poses a significant threat to the value, perception, and future of natural diamonds. Dvash described the rise of lab-grown diamonds as a “meteoric” shift. What began as a marginal trend has turned into an overwhelming
ZCDC Lays Off 400 Workers as Global Diamond Prices Plunge and Lab-Grown Gems Rise Zimbabwe’s largest diamond producer, the state-owned Zimbabwe Consolidated Diamond Company (ZCDC), is laying off 400 employees as it struggles to cope with a global downturn in demand for natural diamonds, a company representative confirmed. Speaking by phone, the spokesperson explained that the job cuts were a necessary measure to keep operations running and avoid a complete shutdown. In a follow-up text
Angola Sets New Diamond Production Record with Over 14 Million Carats in 2024 as Mining Sector Expands Angola has reached a historic milestone in its diamond industry, producing over 14 million carats in 2024—the highest in the nation’s history. This achievement was announced by Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, during the launch of the International Mining Conference of Angola held last Thursday in Luanda. “This milestone fulfills one of the key
De Beers Group’s Venetia diamond mine in Limpopo, South Africa, has reached a remarkable milestone of 13 million fatality-free shifts. This achievement places Venetia among a select group of mining operations in Southern Africa known for sustained excellence in safety performance. The milestone reflects the steadfast dedication of the mine’s employees, contractors, and leadership to fostering a safe and supportive work environment. Over the years, Venetia has implemented numerous proactive safety initiatives focused on building
Angola’s National Diamond Trading Company (SODIAM) has announced it raised $15.5 million from the sale of 17 special diamond stones in its latest auction. The diamonds were sourced from four mining companies: Lulo, Kaixepa, Chitotolo, and Luele. This marked the 14th auction organized by SODIAM, with evaluation sessions taking place from Monday to Thursday last week. A total of 865.19 carats were sold, generating a return that exceeded expectations by 23.33%, according to the company.
Angola’s state-owned diamond companies, Endiama and Sodiam, have officially joined the Natural Diamond Council (NDC) as contributing members, marking a significant step in the country’s integration into the global natural diamond industry. Effective July 1, 2025, both companies will begin their participation with a joint contribution of $8 million for the second half of the year. “By joining the Natural Diamond Council, Endiama and Sodiam are formalizing our dedication to a global strategy that highlights
TaTe Diamonds, Namibia’s first fully Namibian-owned diamond company, has officially entered the United States market with the grand opening of its flagship showroom in Atlanta, Georgia. Located in Buckhead, Atlanta’s premier luxury district, the showroom marks a significant milestone in the company’s international expansion and brand visibility. The launch event drew distinguished Namibian and international guests, with Brent Eiseb, CEO of the Namibian Diamond Trading Company (NDTC), presiding over the ribbon-cutting ceremony. The Namibian delegation
On Wednesday, several African countries signed the “Luanda Agreement,” a commitment to defend and promote natural diamonds. Under this pact, the signatory nations agreed to contribute 1 percent of their annual revenues from diamond sales to fund a global marketing initiative for the sector. The agreement was signed by the ministers of mineral resources from Angola, South Africa, Botswana, Namibia, and the Democratic Republic of Congo (DR Congo)—all key diamond-producing countries. The announcement was made
De Beers, the global diamond mining giant, will commence diamond exploration activities in Angola’s Lunda Norte and Lunda Sul provinces within the next two weeks, according to the company’s CEO, Al Cook. The announcement was made following a meeting with President João Lourenço in Luanda on Tuesday. According to a statement from the Press Office of the Presidency (CIPRA), accessed by VerAngola, the exploration marks the next phase following two years of aerial electromagnetic surveys
Angola is closely monitoring the ongoing restructuring of diamond giant De Beers, following the announcement that Anglo American—its majority shareholder—is planning to sell its 85% stake. The Angolan government is actively engaging with partners to prevent the company from being taken over by parties that lack a genuine interest in the future of natural diamonds. This assurance was given on Thursday by Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during remarks at Endiama’s
