BHP with a market valuation of $149B made a $38.8B bid for Anglo American. Anglo’s shares jumped 12% early yesterday to a market valuation of $41B following the bid. In a statement Anglo American confirmed that “it is has received an unsolicited, non-binding and highly conditional combination proposal from BHP Group Limited (“BHP”).” And that “there can be no certainty that any offer will be made nor as to the terms on which any such
De Beers announced its decision to move its auction headquarters from Singapore to Gaborone, Botswana, as part of the diamond miner’s cost-cutting initiatives. The relocation aims to streamline operations and improve efficiency while supporting the development of Botswana’s diamond sector. De Beers Group Auctions, responsible for around 10% of the company’s rough-diamond sales, will temporarily pause operations and sales events during the transition period, which is expected to take place over the coming months. Consolidating
The Sociedade Mineira de Somiluana inaugurated a cutting-edge sorting center in Lunda-Norte yesterday, signaling a significant boost in the monthly diamond production volume to 15 thousand carats. Reinaldo Trindade, President of the Board of Directors of the diamond operator, revealed that the acquisition and installation of the new sorting plant, equipped with three lines and a processing capacity of six tons of concentrate per hour, pave the way for an upsurge in both the quantity
The World Diamond Council’s (WDC) updated System of Warranties (SoW) is approaching a pivotal milestone, with September 21 marking the mandatory implementation for all rough diamond sales. Elodie Daguzan, Executive Director of the WDC, emphasized the importance of transitioning to the revised SoW before the deadline, particularly for rough diamond traders, to ensure compliance with the new regulations. The revised SoW serves as a global mechanism to provide assurance that traded goods adhere to the
The Government of Botswana and the Kimberley Process Secretariat today signed Host Country Agreement, an important instrument formalising the terms on which the Kimberley Process Secretariat will be based in Botswana. The signing follows Botswana successfully competing against other bidders, being Austria, China, the Russian Federation and the United States of America. The Kimberley Process is an international and multi-stakeholder arrangement comprising governments, the diamond industry and civil society. It’s aim is to increase ethical
Lucapa Diamond Company has successfully completed the sale of three remarkable diamonds recovered from its Lulo mine in Angola, fetching a total of $10.5 million at tender. Conducted by Sodiam in Luanda, the tender concluded on April 19, showcasing three Type IIa white diamonds weighing 203 carats, 116 carats, and 43 carats. This marked Lucapa’s first tender of Lulo diamonds for the year. The combined weight of the diamonds amounted to 361 carats, achieving an
Gem Diamonds, a London-listed company, has announced the discovery of a remarkable 169.15 carat Type II white diamond from its Letšeng mine in Lesotho. This significant find marks the fourth diamond weighing over 100 carats that Gem has recovered so far this year. Prior notable discoveries include a 113 carat white Type II diamond, a 295 carat white Type II diamond, and a 139 carat Boart diamond. The Letšeng mine has gained renown for its
The National Diamond Trading Company of Angola (SODIAM) raised, this Friday 19th April, 17 million dollars with the sale of 636.28 carats (auction of 20 special stones). According to a press release, these are rough diamond productions from the Mining Companies of LULO SOMILUANA, CHITOTOLO, UARI and KAIXEPA. The evaluation sessions took place from the 11th to the 18th of this month, at SODIAM’s facilities in Luanda, with bids being submitted electronically on the online
Proceeds at De Beers’ third rough-sales cycle of the year remained sluggish compared to a year earlier but continued to see improvement despite entering a traditionally slow period for the industry. The miner brought in $445 million in April, down 18% versus the equivalent period in 2023, it said Wednesday. However, that figure is 3% higher than the $431 million the company reported at its second sight of the year, which ran from February 26 to March
Petra Diamonds’ rough prices decreased at its latest tender, as smaller goods experienced seasonal weakness. The fifth trading session, which took place in April, brought in $49 million from the sale of 362,132 carats, while like-for-like prices slipped 1% versus February, the miner reported Tuesday. Of the total, $8.2 million came from the sale of a 14.76-carat, blue diamond from the Cullinan mine in South Africa. The sales value was up 3% from February’s $48 million and
