Anglo American Says No Preferred Bidder as De Beers Sale Could Fetch $1 Billion Anglo American has denied favouring any particular buyer for its diamond business, De Beers, as the mining group continues to explore options for the struggling unit. Anglo American CEO Duncan Wanblad said on Thursday that the company was “not exclusive with any consortium”, rejecting reports that it was favouring a consortium led by former De Beers CEO Gareth Penny. The comments
African Diamond Miners Face Continued Market Pressure in First Half of 2026 Africa’s diamond industry continued to face challenging market conditions in the first half of 2026, with major producers in Botswana, South Africa, Namibia and Lesotho struggling to achieve a sustained recovery in natural diamond demand. Financial results released during the period point to continued pressure across the industry, driven by weaker prices, economic uncertainty and growing competition from laboratory-grown diamonds. In South Africa,
Botswana Highlights Diamond Leadership After Lucara Recovers 1,300-Carat Stone Botswana has reaffirmed its position as one of the world’s leading diamond-producing nations following the recovery of an extraordinary 1,300-carat diamond by Lucara Botswana. President of Botswana highlighted the discovery as a major milestone for the country’s diamond industry after the stone was presented by Lucara Botswana. The diamond is among the largest ever recovered by the company and ranks as the sixth-largest diamond ever discovered
Anglo American in Talks to Sell De Beers for About $1bn as Diamond Market Struggles Anglo American is in discussions to sell its De Beers diamond business for about $1 billion, a fraction of the value attached to the company when it was once the world’s dominant diamond producer. Anglo American has been seeking to divest De Beers since rejecting BHP Group’s nearly $50 billion takeover approach in 2024. However, the sale process has been
Petra Diamonds Revenue Drops to $38 Million as Debt Rises and Finsch Mine Remains Suspended London-listed Petra Diamonds reported a sharp decline in fourth-quarter revenue as financial pressure and operational challenges continued across the business. Revenue for the fourth quarter of the 2026 financial year fell to $38 million from $68 million in the third quarter, while consolidated net debt increased to $322 million as at June 30, from $298 million at March 31. The
Gem Diamonds’ Letšeng Mine Boosts First-Half Sales Value 33% to $59.5 Million Despite Lower Output London-listed Gem Diamonds recorded a 33% year-on-year increase in diamond sales value to $59.5 million in the first half of the year, despite a decline in recovered carats. The company recovered 41,695 carats during the six months to June 30, representing a 12% decrease compared with the same period last year. Diamond sales volumes also declined by 4% year on
De Beers Rough Diamond Output Rises 88% as Botswana Operations Drive Production Recovery Global diamond producer De Beers has reported a significant increase in rough diamond production, with output rising 88% year-on-year to 7.8 million carats in the second quarter of 2026. The increase lifted the company’s first-half production to 14.91 million carats, representing a 46% rise compared with the same period last year. De Beers attributed the growth mainly to the recovery of production
ENDIAMA Highlights Sustainable Diamond Mining and Transparency During Kimberley Process Assessment in Angola Angola’s state-owned diamond company, ENDIAMA E.P., has reaffirmed its commitment to responsible diamond mining, transparency and sustainable development during a review visit by a delegation from the Kimberley Process Certification Scheme (KPCS). The delegation, currently in Angola to evaluate the country’s implementation of rough diamond certification mechanisms, met with ENDIAMA’s Board of Directors on Monday as part of the official assessment process.
Botswana Weighs De Beers Stake Purchase After Anglo American Picks Preferred Buyer Anglo American has selected a preferred buyer for its stake in diamond producer De Beers, with Botswana considering whether to use its right of first refusal to acquire the stake independently, alongside the chosen bidder, or with another partner. Anglo American placed De Beers up for sale in 2024 as part of a wider restructuring strategy following a prolonged decline in diamond prices
Botswana Unearths 1,305-Carat Diamond in Another Historic Discovery at Karowe Mine Botswana has uncovered a massive 1,305-carat diamond at the Karowe Diamond Mine, marking another major discovery for the country’s world-renowned diamond industry. The exceptional gemstone was recovered by Lucara Diamond Corp, the operator of the Karowe mine in Botswana, using advanced X-ray transmission (XRT) technology designed to identify and recover large, high-value diamonds while reducing the risk of damage during processing. The discovery adds
