Category: Diamonds

IMF Cautions Botswana on Expanding De Beers Stake as Diamond Demand Slumps The International Monetary Fund (IMF) has advised the Botswana government against increasing its ownership stake in De Beers, warning that the move could exacerbate the country’s fiscal pressures amid ongoing economic challenges and heavy reliance on the diamond sector. In a review of Botswana’s fiscal position published on December 8, the IMF highlighted heightened uncertainty stemming from the prolonged downturn in the global

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Alrosa Confirms Profitability in 2025 Despite Sanctions, Diamond Market Slump Russian diamond miner Alrosa has confirmed that it remained profitable in 2025, despite ongoing international sanctions and a prolonged downturn in the global diamond market. “2025 was a challenging year for the company,” said Aisen Nikolaev, head of Russia’s Sakha (Yakutia) Republic, during a meeting on Tuesday with Alrosa CEO Pavel Marinychev. “Nevertheless, Alrosa fully achieved its key production targets and continued to implement a

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De Beers Announces Leadership Change as Tracr CEO Wesley Tucker Exits in February 2026 De Beers Group has announced that Wesley Tucker will step down as chief executive officer of Tracr—its blockchain-based diamond traceability platform—at the end of February 2026. Tucker joined the company in April 2021 as head of digital transformation before taking over leadership of Tracr. During his tenure, Tucker played a central role in evolving Tracr from a pilot program into the

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Lucara Diamond Corp Selects Group R for Major Lateral Development Works at Karowe Underground Mine in Botswana Canada-headquartered Lucara Diamond Corporation has awarded the lateral development contract for its Karowe Underground Project (UGP) in Botswana to Group R Mining and Exploration Botswana. The contract covers all underground lateral development linking the production and ventilation shafts to the orebody. This includes construction of the extraction level, underground crushing chamber, fine ore bins, pump stations with vertical

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Petra Diamonds Appoints Permanent Joint CEOs and Strengthens Board Following Annual Meeting London-listed Petra Diamonds has announced a refreshed leadership structure and several board changes following its Annual General Meeting held on November 27. The company confirmed the appointment of Vivek Gadodia and Juan Kemp as permanent joint CEOs, solidifying the roles they have held in an interim capacity since February. Under the new structure, Gadodia will continue to lead Petra’s corporate functions, while Kemp

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Botswana to Acquire Anglo American’s Entire 85% Stake in De Beers, Plans to Share Ownership with Partners President Duma Boko has announced that Botswana intends to purchase Anglo American’s entire 85% shareholding in De Beers Group, a move he says will position the country as a global leader in the diamond industry. Addressing Parliament this afternoon, President Boko explained that Botswana has developed a strong business case for taking full ownership of De Beers. “We

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De Beers Debuts Traceable ORIGIN Diamonds in US and Canadian Stores De Beers Group has launched its new branded polished diamond collection, ORIGIN, in retail stores across North America, marking the first time this provenance-focused range is available directly to consumers. The launch strengthens De Beers’ strategy to enhance confidence in natural diamonds through traceability and digital storytelling, enabled by Tracr, the group’s blockchain platform. Each ORIGIN diamond can be traced from discovery, with provenance

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