Category: Diamonds

De Beers has held its first diamond auction in Botswana following the relocation of its sales operations from Singapore, marking a significant step in consolidating its global trading activities in Gaborone and boosting operational efficiency. The company announced the move on Friday, stating that the transfer reinforces Botswana’s status as a key player in the global diamond value chain. A small-scale pilot auction during De Beers’ third sales cycle attracted “substantial interest,” with strong customer

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Debswana Diamond Company has confirmed that the Orapa No. 2 processing plant is currently undergoing its annual scheduled maintenance during the month of May and has not been shut down, contrary to recent media reports. The company clarified that the temporary plant stoppage is part of routine operational procedures aimed at ensuring continued efficiency and reliability. This clarification follows misleading claims suggesting a full halt in operations. Debswana emphasized that the maintenance shutdown is a

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Lucara Diamond is under increasing financial pressure as it seeks additional funding to maintain liquidity and complete the delayed underground expansion of its Karowe mine in Botswana — the company’s sole producing asset. In its first-quarter 2025 results, CEO William Lamb confirmed that Lucara had received approval from lenders to draw $28 million from its cost overrun reserve account. The reserve is part of a $61.7 million facility provided by Nemesia, Lucara’s largest shareholder and

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AIM-listed Vast Resources has announced the discovery of an additional 6,055.35 carats of gem-quality diamonds within a sealed parcel previously held in Zimbabwe, following a recent inspection by the Kimberley Process. The previously unknown diamonds were identified during the formal inspection process. The entire parcel, including the newly discovered stones, is currently in Dubai for final sorting ahead of cleaning and preparation for sale. Last month, the company confirmed the release of the historic parcel,

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De Beers has announced plans to shut down its lab-grown diamond jewellery brand, Lightbox, and shift its focus back to natural diamonds as it contends with falling prices, weak demand, and tariff uncertainties. “As part of the closure process, De Beers is in discussions with potential buyers regarding the sale of certain assets, including inventory,” the company stated on Thursday. De Beers first launched Lightbox in September 2018, marking a significant shift from its long-standing

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De Beers Group has joined forces with Stuller, the largest jewelry manufacturer in the United States, to expand the distribution of its DiamondProof verification device throughout the U.S. retail market. Announced on Monday, the partnership names Stuller as the official sales distributor for DiamondProof. This collaboration follows the device’s retail debut in February and is aimed at making diamond-verification technology more accessible to jewelers across the country. DiamondProof is designed to quickly and accurately identify

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