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Category: Diamonds

Diamonds Corporate News International

Botswana’s Okavango Diamond Company to Begin Contract Sales Under New De Beers Deal

Okavango Diamond Company to Launch Contract Diamond Sales in November as Botswana Diversifies Marketing Channels Botswana’s state-owned Okavango Diamond Company (ODC) will begin selling diamonds to contracted buyers next month as part of its strategy to diversify sales channels under the government’s new 10-year agreement with De Beers, Managing Director Mmetla Masire announced on Wednesday. Under the revised deal, signed in February 2025, ODC’s allocation from Debswana—a 50:50 joint venture between the Botswana government and

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Diamonds International News

Namibia’s Central Bank Governor Urges Extension of Royalty Discount to Support Namdeb Amid Diamond Market Slump

Johannes !Gawaxab Calls for Extended Royalty Relief for Namdeb as Global Diamond Prices Decline Namibia’s central bank governor, Johannes !Gawaxab, has called for an extension of the royalty discount granted to Namdeb to help the diamond miner navigate a prolonged global market downturn characterized by weak demand and a supply surplus. The diamond industry is facing mounting pressure from the growing popularity of lab-grown diamonds and a declining appetite for natural stones among younger consumers—factors

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Diamonds International News

Botswana Enforces 24% Local Ownership Rule for New Mining Projects

Botswana Introduces Mandatory 24% Local Stake in New Mining Concessions to Boost Local Investment and Value Addition Botswana has implemented a new regulation requiring mining companies to allocate a 24% ownership stake in all new concessions to local investors if the government opts not to purchase the shares itself, the Ministry of Minerals and Energy announced on Friday. The rule, which officially came into effect on October 1, marks a significant shift in Botswana’s mining

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Diamonds Corporate News

Martyn Charles Marriott Urges Botswana and Angola to Revive Diamond Industry Cooperation

Diamond Veteran Martyn Charles Marriott Calls for ‘OPEC-Style’ Alliance as Botswana and Angola Seek Greater Stakes in De Beers As Botswana seeks a larger stake in De Beers and Angola signals similar ambitions, diamond industry veteran Martyn Charles Marriott says this moment could be an opportunity to restore the collaboration and discipline that once defined the global diamond trade. In a commentary published on the International Diamond Manufacturers website, Marriott cautioned Botswana against pursuing an

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Corporate News Diamonds International

Feriel Zerouki to Step Down as De Beers Chief Trade and Industry Officer

De Beers Executive Feriel Zerouki Resigns After Two Decades, Leaving Legacy of Ethics and Transparency in Diamond Industry Feriel Zerouki will step down as De Beers Group’s Chief Trade and Industry Officer and member of the executive committee at the end of October, the diamond company announced. Zerouki joined De Beers in 2005 and has played a central role in shaping the miner’s leadership in ethics, provenance, and industry integrity over her nearly two decades

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Corporate News Diamonds Local

Angola’s SODIAM Achieves $16.9M in Rough Diamond Auction Amid Challenging Market

SODIAM Raises $16.9 Million in 15th Electronic Rough Diamond Auction The Angolan National Diamond Trading Company (SODIAM) announced the successful sale of 36 special rough diamonds, generating a total net value of US$16.9 million at its 15th electronic auction held on Wednesday. The diamonds were produced by leading mining companies, including SOMILUANA, Lulo, Kaixepa, Mussende, Chitotolo, Calonda, and Catoca, and comprised a total of 1,529.8 carats. The auction results exceeded expectations by 9.14%, reflecting strong

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Diamonds International News

Botswana Nears Duty-Free Diamond Deal with United States to Protect Economy

Botswana Closes in on Duty-Free Diamond Trade Agreement with U.S. Amid Tariff Pressures Botswana is close to securing an agreement with the United States that would allow its diamonds to be imported duty-free — a potential economic lifeline for the landlocked nation as it faces mounting pressure from U.S. tariffs that have strained its diamond-dependent economy. Speaking to the BBC about the ongoing trade discussions, President Duma Boko stated, “The negotiations are in an advanced

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Corporate News Diamonds Local

Sodiam Announces Online Auction of 36 Specialty Diamonds in October 2025

Angola’s Sodiam to Hold Online Auction of 36 Specialty Diamonds in October 2025 The Angolan state-owned diamond trading company, Sodiam, has announced an electronic auction of 36 specialty diamonds, each weighing 10.80 carats or more. The auction will be held in collaboration with TRANS ATLANTIC GEM SALES, targeting customers registered in Sodiam’s database who have expertise in trading specialty stones. According to Sodiam’s official press release, viewing sessions for the diamonds will take place from

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Diamonds Corporate News Local

Angola’s Endiama Achieves $1.1 Billion Revenue in First Half of 2025 from Diamond Sales

Angola’s Endiama Reports $1.1B Revenue from 10.6M Carats of Diamonds in H1 2025 Angola’s state-owned diamond company, Endiama, recorded revenue exceeding $1.1 billion in the first half of 2025, driven by the sale of 10.6 million carats of diamonds. The performance surpassed forecasts by 1.2%, according to company officials. The announcement was made during Endiama’s semiannual diamond production review meeting held in Dundo, Lunda Norte Province. Elton Escrivão, Director of Marketing for Endiama, emphasized the

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Corporate News Diamonds International

Namibia Weighs Stake in De Beers Amid Diamond Market Slump

Namibia Considers De Beers Stake as Diamond Prices Decline and Industry Faces Challenges Namibia will carefully assess whether to acquire a stake in De Beers as the global diamond market faces a prolonged slump, local media reported on Monday, citing the country’s Deputy Prime Minister. Anglo American, De Beers’ parent company, announced on September 9 that it is selling the diamond giant as part of a portfolio restructuring to focus on copper and iron ore.

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