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Category: Diamonds

Diamonds Corporate News International

Okavango Diamond Company Expands Contract Sales to Cushion Market Downturn

Botswana’s Okavango Diamond Company to Increase Contract Diamond Sales Amid Weak Global Market Botswana’s state-owned Okavango Diamond Company (ODC) plans to increase the proportion of diamonds it sells through long-term contracts as it adapts to challenging global market conditions, acting managing director Lipalese Makepe said on Wednesday. Contract sales provide greater pricing stability and predictability compared with auctions and tenders, which are typically more competitive and prone to price volatility. The shift comes as rough

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International Corporate News Diamonds

De Beers Posts $511 Million Loss in 2025 Amid Lower Diamond Prices and Stock Rebalancing

De Beers 2025 Financial Results: $511M Loss Driven by Falling Diamond Prices and Stock Rebalancing Diamond miner De Beers reported a challenging 2025 financial year, posting an underlying loss before interest, taxes, depreciation, and amortisation (EBITDA) of $511 million, compared with a loss of $25 million in 2024. The decline was driven by a lower average rough price index and stock rebalancing initiatives. Production and Sales Rough diamond production fell 12% to 21.7 million carats

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International Diamonds Mining Projects

Botswana Accelerates Exploration Drive as It Seeks to Diversify Beyond Diamonds

Botswana Expands Mining Exploration Strategy to Reduce Diamond Dependence and Target Critical Minerals Botswana is preparing to significantly increase mining exploration activity including the search for critical minerals as it moves to reduce its long-standing dependence on diamonds. Mines Minister Bogolo Joy Kenewendo announced on Tuesday that the government plans to survey the approximately 70% of the country’s territory that remains geologically unexplored. The Southern African nation, widely regarded as one of Africa’s most stable

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Diamonds Local News

Namibia Signs Luanda Accord as Global Diamond Bodies Join Natural Diamond Council

Namibia Joins Luanda Accord; India’s GJEPC and Dubai’s DMCC to Become Natural Diamond Council Members Namibia has formally signed the Luanda Accord, becoming the latest government to commit funding to support global marketing of natural diamonds through the Natural Diamond Council (NDC). The announcement was made during the second high-level meeting of the Luanda Accord, held at the 2026 Investing in African Mining Indaba in Cape Town. Established in June 2025, the accord seeks to

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Corporate News Diamonds Local

Angola Eyes Strategic Minority Stake in De Beers as African Producers Seek Greater Control

Angola Targets 20–30% Stake in De Beers Amid Push for African Coordination in Diamond Industry Angola is seeking to acquire a 20% to 30% stake in De Beers, the global diamond powerhouse currently owned by UK-based mining group Anglo American, as African diamond-producing nations explore a coordinated strategy to gain greater influence over the industry’s most valuable assets. The move comes as Anglo American prepares to divest De Beers, amid weakening diamond prices and intensifying

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Diamonds Economy Local News

Angola Targets 17 Million Carats as Endiama Scales Diamond Production

Angola’s Endiama Plans to Boost Diamond Output to 17 Million Carats by 2027 Angola’s state-owned diamond producer, Endiama, plans to increase annual production to 17 million carats by 2027, building on a record-breaking performance that has reinforced the country’s position in the global diamond industry. According to a government publication distributed at the 2025 Africa Mining Indaba in Cape Town, Endiama produced 14 million carats of rough diamonds in 2024—the highest output in the company’s

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Corporate News Diamonds International

Letšeng Diamond Mine Reports 36% Revenue Drop in 2025

Letšeng Mine in Lesotho Sees Sharp Revenue Decline Amid Global Diamond Market Challenges The Letšeng diamond mine in Lesotho, known for producing some of the world’s highest-value diamonds per carat, experienced a significant revenue decline in 2025. Gem Diamonds, the mine’s owner, reported on February 4, 2026, that Letšeng generated $97.7 million, down 36% from $152.8 million in 2024. The drop is attributed to a 14% fall in production and a 20% decrease in the

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Diamonds Local News

GIA Explores Certification Partnership for Angolan Diamonds

GIA Eyes Certification of Angolan Diamonds as U.S. Interest in Angola’s Diamond Sector Grows Angola’s diamond industry is attracting growing interest from the United States, with the Gemological Institute of America (GIA) signalling its intention to collaborate on the certification of diamonds produced in the country. The initiative could strengthen Angola’s position in the global diamond market while supporting local economic development. During a visit to diamond sector infrastructure in Lunda Sul Province, a GIA

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Diamonds Economy Local News

Angola’s Polished Diamond Exports Surge in 2025 Despite Global Price Pressures

Angola Polished Diamond Exports More Than Double in 2025 as Volumes and Revenues Rise Angola’s polished diamond exports more than doubled in 2025, recording strong growth in both volumes and total export value despite a decline in average prices, according to a statement released by the country’s national diamond trading company, Sodiam, on January 26. Sodiam reported that between January 1 and December 31, 2025, Angola exported 23,300 carats of polished diamonds at an average

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Corporate News Diamonds International

De Beers Launches Jewellery Collection Featuring Ethically Sourced Artisanal Diamonds

De Beers Unveils GemFair Capsule Jewellery Collection Showcasing Ethically Sourced Artisanal Diamonds Diamond mining company De Beers Group, through its GemFair programme and luxury jewellery brand De Beers London, has announced the launch of a capsule jewellery collection featuring ethically sourced artisanal diamonds. In a media release issued on January 23, De Beers said the launch marks the first time GemFair’s ethically sourced, artisanal-mined diamonds have been incorporated into fine jewellery, bringing their story of

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