Lucara Diamond Corp.’s revenue surged in 2024, driven by the sale of two massive rough diamonds from its Karowe mine in Botswana, which collectively fetched $54 million. Annual revenue rose 18% to $203.9 million, with sales volume increasing 5% to 399,215 carats, the company reported Friday. The higher revenue was attributed to a greater proportion of high-value stones, including the 549-carat Sethunya and the 1,080-carat Eva Star. Lucara posted a $39.9 million profit, a sharp
De Beers Jewellers has rebranded as De Beers London, reinforcing its identity in the high-end luxury market and highlighting its connection to the British capital, a global hub for fashion and luxury. Announcing the change in a LinkedIn post last week, the company emphasized that the rebrand also strengthens its position as the only luxury jewelry house with direct access to natural diamonds from the source. This move, De Beers stated, is a key step
De Beers Group has introduced its DiamondProof device at select retail stores, offering rapid and reliable verification of natural diamonds. The device distinguishes natural diamonds from lab-grown alternatives and simulants by detecting unique chemical signatures, the company announced Monday. Already in use by major jewelry retailers, DiamondProof debuted in the U.S. following its unveiling at the JCK show in Las Vegas last June. Designed for use at retail counters and back offices, the device delivers
Lucara Diamond Corp has sold the 549-carat Sethunya and the 1,080-carat Eva Star diamonds—both recovered from its Karowe mine in Botswana—for a total of $54 million. The Sethunya, discovered in 2021, and the Eva Star, recovered in 2023, highlight the consistent production of large, high-quality diamonds from the South Lobe of the Karowe kimberlite. Lucara affirms that these exceptional stones reinforce Karowe’s reputation as one of the world’s premier sources of high-value diamonds. “The sale
Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, along with his accompanying delegation, visited De Beers in South Africa to witness the company’s offshore diamond exploration operations. The visit allowed Angolan officials to gain valuable insights into De Beers’ exploration and extraction technologies, as well as the advantages and challenges of offshore diamond mining, according to a press release from the Ministry. The visit provided an opportunity for Minister Azevedo and officials from
After more than five years of negotiations, De Beers and the Botswana government have concluded discussions on a new rough diamond sales agreement. However, the deal has yet to be signed. Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, expressed hope that this would happen later in February, a sentiment met with a nod from De Beers CEO Al Cook at a press briefing on February 3. The only remaining step is the formal issuance
Independent mining group Petra Diamonds has appointed Vivek Gadodia and Juan Kemp as interim CEOs following the immediate resignation of Richard Duffy by mutual agreement. Gadodia will oversee corporate matters, while Kemp will manage operational affairs. However, neither will be appointed as directors at this stage. Gadodia, who joined Petra in 2021, has held roles including Planning and Corporate Planning Executive and Chief Restructuring Officer. Previously, he spent 15 years at Sasol in engineering, project
Sasol, an integrated energy and chemical company, has signed a Joint Development Agreement (JDA) with diamond company De Beers and global mining giant Anglo American to launch a renewable diesel pilot project in South Africa. The initiative aims to evaluate the commercial and technical viability of producing renewable diesel. The project will use Solaris and Moringa crops to produce vegetable oil, which will then serve as feedstock for Sasol’s existing facilities, designed to produce low-cost
Endiama, Angola’s state-owned diamond-trading company, has signed a mining investment agreement with N’Dumba, a subsidiary of the Jean Boulle Group, to engage in diamond prospection, exploration, and commercialization. The agreement was formalized at the Mining Indaba in Cape Town, South Africa, with Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and Rui Xavier, Angola’s ambassador to South Africa, in attendance during the signing ceremony, Endiama reported on Tuesday. The N’Dumba concession, located in
Lucapa Diamond Company is currently facing a production disruption at its Lulo mine in Angola after local community leaders barricaded all entrances to the site, making a series of unreasonable demands, according to the company. While the blockade remains peaceful, it has prevented Lucapa’s workers from entering or exiting the site. The company expressed concern for the safety of its employees should it attempt to break through the barricade. Although the workers who are inside
