Hari Krishna Exports, one of the world’s leading companies in high-quality rough diamond cutting and jewelry manufacturing, has expressed strong interest in investing in Angola. The company plans to establish two diamond cutting factories in the Saurimo Diamond Development Hub, located in the province of Lunda Sul. A delegation from Hari Krishna Exports, led by Dharmesh Dholakia, is currently visiting Angola and has been received by the Ministry of Mineral Resources, Oil and Gas, as
Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, defended the decision to replace Russia’s Alrosa as a partner in the country’s key diamond mining ventures, saying the move was initially misunderstood but ultimately necessary to protect national and sectoral interests. Speaking at a diamond industry presentation on Thursday in Luanda, Azevedo acknowledged that the change “was not always well understood, including by Endiama itself,” referring to Angola’s state-owned diamond company. He emphasized that
International diamond expert Martin Rapaport emphasized on Thursday in Luanda the importance of Angola establishing a strong global brand for its diamonds and actively negotiating trade tariffs with the United States. Speaking to Lusa about the potential for increased diamond exports to the U.S. — following the replacement of former Russian partner Alrosa with Taaden, a company owned by the Sovereign Fund of the Sultanate of Oman — Rapaport stated that “the issue of sanctions
The government of the Democratic Republic of Congo (DRC) has announced plans to revive Anhui Congo Investissement (Sacim), a diamond mining company located in Miabi, Kasaï Oriental. Sacim is a joint venture between the Congolese state and China’s Anhui Foreign Economic Construction Corporation. Despite producing approximately 250,000 carats of diamonds each month, the company has recently struggled with operational, managerial, and social challenges. According to DRC’s Minister of Mines, Kizito Pakabomba Kapinga Mulume, the crisis
Russian diamond miner Alrosa has uncovered an internal smuggling scheme in which an employee allegedly swapped low-value diamonds for higher-quality stones and sold them to Armenian smugglers. According to a company statement released Monday, Alrosa’s internal security team, in collaboration with Russia’s Federal Security Service (FSB), caught a diamond sorter in the act of attempting to smuggle a batch of rough diamonds valued at RUB 1.9 million ($24,153). The intercepted batch weighed approximately 250 carats.
Russia held onto its position as the world’s leading producer of rough diamonds by value in 2024, maintaining the top spot it secured for the first time in 2023, ahead of Botswana. Despite facing significant challenges—including ongoing sanctions from the United States and European Union, as well as a broadly weakened diamond market—Russia sustained its rough-diamond output at 2023 levels. The country produced 37.3 million carats in both 2023 and 2024. However, due to market
Petra Diamonds reported a decline in rough diamond prices at its latest combined tender, reflecting a shift toward smaller, lower-quality goods and ongoing challenges at its Cullinan mine in South Africa. The miner generated $53 million from the sale of 613,747 carats during its combined fifth and sixth trading sessions, which took place partially in April and concluded in June, the company announced Monday. While like-for-like prices rose 3% across most product categories compared to
Botswana’s Debswana Diamond Company is seeking funding from international capital markets to finance its ambitious $6 billion Jwaneng underground expansion, as falling revenues challenge its ability to support large-scale capital projects. Speaking at a mining conference in Gaborone on Monday, Managing Director Andrew Motsomi said the company is pushing forward with plans to extend the life of its flagship Jwaneng Mine to 2054 by transitioning from open-pit to underground operations—despite a global slump in diamond
Angola has officially begun the process of joining the World Federation of Diamond Bourses (WFDB) through its newly established Angola Diamond Exchange, marking a significant milestone in the country’s integration into the international diamond industry. The announcement was made by Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during the WFDB’s 2025 President’s Meeting held in New York on June 12. Qatar also expressed interest in joining the WFDB during the same event.
London-listed Petra Diamonds has sold 613,682 carats of diamonds for $53 million during its combined Tender 5 and 6 sales cycle, bringing total revenue for the financial year to $239 million from 2.39 million carats sold. Due to ongoing fluctuations in diamond prices and demand, Petra has moved away from fixed tender schedules. The company now reserves the option to delay parts of tenders or sell diamonds as run-of-mine. “Reporting tender results on a tender-by-tender
