The Angolan National Diamond Company (Endiama) aims to produce 14.8 million carats of diamonds and generate $2.1 billion in revenue by 2025, according to its chairman, José Ganga Junior. Speaking during the company’s 44th anniversary, Ganga Junior acknowledged ongoing challenges in the diamond market, including significant price reductions and sluggish demand. Diamond prices have dropped by more than 60% in some cases, with the average price per carat estimated at $146 for this year. Currently,
London-listed Botswana Diamonds has applied for three new prospecting licences to secure key anomalies identified by its recent AI-driven exploration programme. In December, the company’s AI analysis pinpointed seven kimberlite anomalies. Botswana Diamonds already holds a licence over one of these targets and has now applied for licences covering three additional anomalies. The newly identified areas are located in: One particularly promising anomaly lies south-west of Debswana’s Jwaneng mine. Its signatures suggest the presence of
Botswana has renewed two prospecting licences held by London-listed Botswana Diamonds—licence numbers 224/2007 and 169/2019—for an additional two years, extending their validity to December 31, 2026. The licences cover the KX36 kimberlite discovery and several high-grade geophysical anomalies, with authorisation granted for drilling. KX36, a 3.5-hectare kimberlite pipe, boasts an indicated resource of 17.9 million tonnes at a grade of 35 carats per hundred tonnes (cpht) and an inferred resource of 6.7 million tonnes at
Alrosa’s deputy CEO, Vladimir Marchenko, is stepping down from his role to pursue a new opportunity within the diamond industry. Marchenko joined Alrosa in 2017 as vice president of production for Africa and South America, before being promoted to deputy CEO in 2018. In his tenure, Marchenko led key projects in Africa, including efforts to identify new diamond deposits in Zimbabwe. He also currently heads the Russia-Zimbabwe Business Council (RZBC). Alrosa CEO Pavel Marinychev praised
Alrosa predicts that supply and demand for rough and polished diamonds will balance out in the coming months as midstream inventory levels decline. Sergey Takhiev, Alrosa’s head of corporate finance, highlighted strong demand for jewelry and a reduction in diamond-mining capacity—down by up to 20% from 2018-2019 levels—will drive price growth. He also pointed to the rapid rise of online jewelry sales, which has allowed jewelers to reduce inventory requirements. “The normalization of inventories has
Angola accounted for 9% of the diamonds traded globally by countries participating in the Kimberley Process during the 2024 fiscal year, according to the National Commission’s (CNPK) Balance of Actions and Perspectives Report for the 2023/2024 Sector Development Plan. The report indicates that Angola sold 9,754,309.81 carats during the period, valued at $1.5 billion, with an average price of $157.06 per carat. The CNPK’s data shows that total global production for the same period reached
Petra Diamonds has revised its rough diamond pricing forecast downward for the remainder of the fiscal year due to ongoing softness across most size categories. The company now projects rough diamonds from its Cullinan mine in South Africa to sell for $120 to $130 per carat, down from the initial forecast of $125 to $135 per carat. Similarly, diamonds from the Finsch mine are expected to fetch $80 to $90 per carat, compared to the
Antwerp-based diamond supplier Choron Group has announced its acquisition of AMC Group, a De Beers sightholder, marking a rare instance of consolidation in the diamond trade. The acquisition, facilitated by diamond brokerage and consultancy firm Bonas Group, will be finalized on January 1, 2025. Financial details of the deal remain undisclosed. “This acquisition marks a significant milestone for Choron,” stated CEO Anshul Gandhi. “AMC’s legacy of excellence and market leadership complements our vision to deliver
Alrosa, the Russian diamond mining giant, reported a 4.6% drop in annual output for 2024, producing 33 million carats compared to 34.6 million in 2023. The decline aligns with planned reductions due to sanctions, weak demand, and depressed rough diamond prices, according to Aisen Nikolaev, head of the Yakutia regional government. The sanctions have also forced Alrosa to divest its stakes in Angola’s Catoca and Luele diamond mines, further impacting production capacity. Additionally, Russia’s state-owned
The European Union has approved a €81 million ($84 million) grant to support Diamond Foundry in establishing a cutting-edge diamond production facility in Trujillo, Extremadura, Spain. The plant will focus on producing synthetic diamond wafers for industrial applications using the company’s advanced plasma reactor technology, the European Commission (EC) announced earlier this week. Synthetic diamonds offer a sustainable and efficient alternative to silicon in the semiconductor industry, addressing growing demand from sectors such as 5G
