Cobre Launches Deep Drilling at Kitlanya West in Botswana

Australian junior miner Cobre has commenced a diamond drilling program at the Kitlanya West project in Botswana, targeting copper-silver mineralization in partnership with diversified major BHP. The drilling campaign follows seismic surveys completed in 2024 and is part of Cobre’s recently announced earn-in joint venture with BHP. The program includes three deep drill holes, each exceeding 1 km, aimed at testing large anticlinal trap sites identified in seismic sections and providing insights into the deeper

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Lucara Takes Direct Control of Karowe Underground Expansion

Lucara Diamonds has ended its engineering, procurement, and construction management contract with JDS Energy & Mining (JDS) as of March 31, shifting to owner-managed operations for the Karowe underground expansion project (UGP) in Botswana. Announcing the transition on Monday, the Canada-based company stated that it had signed a master service agreement (MSA) with JDS to complete specific engineering components, while all site-based contracts and activities now fall under Lucara’s direct oversight. The move is expected

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Angola’s Diamond Exports Generate $1.5 Billion in 2024

Angola earned $1.5 billion from the export of over 10 million carats of diamonds in 2024, according to Secretary of State for Mineral Resources, Jânio Victor. He shared these figures during a presentation on the country’s diamond production and commercialization performance for 2024, along with projections for the first half of 2025, held in Luanda on Friday. Victor confirmed that the United Arab Emirates and Belgium remained Angola’s primary export markets. “In 2024, the country

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Angola’s Diamond Export Revenue Drops by 3% in 2024

Angola’s diamond export revenue declined by nearly 3% in 2024 compared to the previous year, according to data presented during a ceremony reviewing the diamond subsector’s performance and projections for 2025. In 2024, the country exported approximately 10.2 million carats of diamonds, generating nearly $1.5 billion—down 2.95% from the $1.53 billion recorded in 2023, according to the Angolan National Diamond Trading Company (Sodiam). Despite the drop in export revenue, Angola recovered just over 14 million

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Debswana to Halt Operations at Letlhakane and Jwaneng Modular Plants Amid Market Downturn

Debswana Diamond Company will suspend production at its Letlhakane Tailings Plant (LTP) and Jwaneng Modular Plant (JMP) by the end of March 2025. This decision aligns with the company’s strategic response to ongoing challenges in the global diamond market, where demand and rough diamond prices have continued to decline through 2023 and 2024. In light of these conditions, Debswana’s Board of Directors, during its March meeting, revised the 2025 production target from 18 million carats

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Anglo American Prepares for Potential De Beers IPO Amid Exit Strategy

Anglo American, the parent company of De Beers, has begun discussions with multiple banks regarding a potential initial public offering (IPO) for the diamond miner, according to a Bloomberg report. This move is part of Anglo American’s restructuring plan, announced last year, to divest De Beers and other non-core assets in order to focus on its primary businesses. At the same time, the company is exploring the possibility of selling De Beers outright. “Anglo is

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Petra Diamonds Denies Mass Layoff Claims, Confirms Limited Redundancies

Petra Diamonds has dismissed claims by South Africa’s National Union of Mineworkers (NUM) that it plans to lay off 468 employees due to ongoing challenges in the diamond market. The company clarified that only 84 employees from its Cullinan and Finsch mines in South Africa will be affected, significantly fewer than the number reported by the union. NUM alleged that Petra intended to replace permanent employees with contract workers to cut costs. However, a company

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Namibia’s Diamond Production Surges in January 2025 Amid Declines in Other Minerals

Namibia’s diamond production rebounded sharply in January 2025, with the Diamond Production Index rising by 34.9% after a 6.1% decline in December 2024, according to the Namibia Statistics Agency (NSA). On an annual basis, the index recorded a 14.3% increase, driven by higher diamond output, as total production reached 241,393 carats, surpassing the 178,890 carats produced in December 2024 and the 211,108 carats from January 2024. This surge in diamond production was the key driver

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Anglo American Moves Toward De Beers Exit, Exploring IPO and Sale Options

Anglo American has initiated preliminary discussions with banks regarding the potential listing of its De Beers diamond unit, as the company moves forward with the final phase of its comprehensive restructuring plan. The company is pursuing a dual-track strategy: seeking a buyer for De Beers while preparing for an initial public offering (IPO) as a backup option. This marks a significant step in Anglo’s commitment to exit the diamond business, a promise made last year

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DRC Diamond Exports Generate $89 Million in 2024 with Significant Growth in Volume

Diamond exports from the Democratic Republic of Congo (DRC) generated $89 million in revenue in 2024, according to the latest statistics from the Ministry of Mines. The total exports amounted to 9,240,714.14 carats during the year. An analysis of the Ministry’s 2024 annual report reveals a growth of 11.26% in diamond exports compared to 2023, when exports totaled 8,305,796 carats. The report indicates that artisanal mining dominated diamond production in the DRC, with over 6,353,613.89

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