Diamond Price Crash Puts Botswana’s De Beers Takeover Ambitions in Jeopardy The old saying “be careful what you wish for” may prove true for Botswana, the small southern African nation eager to take full control of the De Beers diamond empire — just as the global diamond market faces one of its worst slumps in decades. Botswana already owns 15% of De Beers, but it has signalled interest in acquiring the entire business. The opportunity
Angola Strengthens Diamond Industry Ties with India Through ENDIAMA-Led Trade Mission On the second day of its official trade mission to India, the Angolan delegation, led by Elton Escrivão, Director of Marketing at ENDIAMA-EP, continued an intensive agenda focused on expanding strategic partnerships in the diamond industry. A key highlight of the day was the delegation’s participation in technical presentations hosted by the International Gemological Institute (IGI) — one of the world’s most respected authorities
Alrosa Revenue Drops to $1.45 Billion in H1 2025 as Sanctions and Market Weakness Persist Russian diamond giant Alrosa reported a 24% year-on-year drop in revenue for the first half of 2025, as the global diamond market continues to struggle and international sanctions on Russian goods remain in effect. For the six months ending June 30, Alrosa’s revenue declined to RUB 116.04 billion (US$1.45 billion), according to the company’s financial results released last week. While
Tanishq Partners with De Beers to Offer In-Store Diamond Authentication at Select Locations in India Titan-owned jeweler Tanishq has partnered with De Beers to launch diamond verification centers at select retail stores across India, aiming to provide customers with transparent, real-time insights into the authenticity and quality of their diamonds. The initiative, announced last week, will give shoppers in-store access to advanced diamond testing tools designed to distinguish between natural and lab-grown diamonds. This move
De Beers Namibia Reports Profit Decline Amid Lower Diamond Prices and Global Market Challenges De Beers Namibia has reported a decline in earnings for the first half of 2025, with underlying operating profit falling to N$1.09 billion (US$58 million)—a 12% drop from N$1.24 billion (US$66 million) recorded during the same period last year. According to the company’s latest financial report, underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) fell to N$1.47 billion (US$78 million),
De Beers Scales Back Namibian Marine Diamond Mining, Q2 Output Falls 5% Amid Fleet Changes De Beers has reported a 5% year-on-year decline in Namibian rough diamond production for the second quarter of 2025, citing planned reductions in offshore mining by Debmarine Namibia. The production drop follows the retirement of the Coral Sea vessel and the suspension of operations on the Grand Banks—both key assets in Namibia’s marine diamond fleet. While the Coral Sea has
De Beers Posts $245 Million H1 Loss, Plans to Boost Diamond Output as Market Recovery Looms De Beers has reported a $245 million loss for the first half of 2025, reflecting ongoing challenges in the global diamond market. The downturn contrasts with a $73 million profit during the same period last year. The loss stems in part from the company selling rough diamonds at lower margins to select sightholders in an effort to reduce inventory
Rio Tinto Diamond Sales Up 9% in H1 2025 Amid Market Recovery and Production Surge Rio Tinto reported a 9% increase in diamond revenue for the first half of 2025, driven by a rebound in the rough diamond market and a sharp rise in production at its Diavik mine in Canada. Sales from Diavik totaled $162 million for the six months ending June 30, up from the same period last year, the company announced on
Anglo American Pushes De Beers Exit Through Trade Sale or IPO Amid Signs of Diamond Market Recovery Anglo American has reaffirmed its firm commitment to exiting its diamond business, De Beers, despite confidence in the brand’s long-term potential as global diamond markets begin to stabilise. The company is actively pursuing two exit strategies: its preferred option—a trade sale—and a parallel plan for an initial public offering (IPO). Both processes are being advanced simultaneously to ensure
Angola’s Economy Grows 4.4% in 2024: Strongest Expansion in a Decade Fueled by Oil and Diamonds Angola’s economy grew by 4.4% in 2024, marking its strongest annual expansion since 2014, according to the World Bank’s latest Angola Economic Update. This robust growth was primarily driven by a recovery in the oil sector, increased diamond production, and strong performance in the commerce and fishing industries. Despite this positive momentum, economic growth is projected to moderate between
