News
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Yesterday
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Yesterday
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Yesterday
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Yesterday
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
14 october 2026
De Beers Inactivity Spells Local Gloom
26 may 2020
(news.thevoicebw.com) - In response to the impact of Covid-19, De Beers has drastically reduced its production guidance for the year. Initially, De Beers had set a target of mining between 32-34 million carats for 2020. The figure has since been scaled down to between 25-27 million carats due to the outbreak of the novel Coronavirus, which has led to a temporary shut down of virtually all industries. Meanwhile, the latest developments regarding the diamond industry are expected to hit government coffers hard. For decades, Diamonds have been Botswana’s biggest revenue earner, accounting for a large portion of the country’s exports in terms of value. With no diamonds currently being sold due to the pandemic, Botswana stands to lose a massive amount of money. When addressing the media recently, Minister of Finance and Economic Development, Dr. Thapelo Matsheka predicted the country could lose well over P16 billion in revenue from diamonds.
Mining technologies could capture ‘billions of tonnes of CO2 per year,’ says UBC prof
25 may 2020
(mining.com) - The world needs to limit global temperature increases to between 1.5 and 2 degrees Celsius by the end of this century to avoid devastating climate change, according to the Intergovernmental Panel on Climate Change, a United Nations body that provides policymakers with scientific information about climate change.Atmospheric concentrations of CO2 are now well over 400 parts per million and global emissions are currently around 36 billion tonnes of CO2 per year. With emissions expected to increase, most experts believe that the 2 degrees Celsius warming target will not be met. To stabilize the global climate, they say, we will need to achieve net negative emissions by pulling more CO2 out of the atmosphere than we emit. The mining industry could play a significant role in helping to achieve this, according to Greg Dipple, a professor in the Department of Earth, Ocean and Atmospheric Sciences and a member of the Mineral Deposit Research Unit at the University of British Columbia (UBC).
Diamonds Need Some New Best Friends
22 may 2020
(bloomberg.com) - It’s looking decidedly somber out there for the world’s favorite sparkly stone. Diamonds were ailing even before the coronavirus came along. Now, weeks into lockdowns in the U.S. and elsewhere, all but the largest diggers, polishers and retailers are struggling for cash. Unable to sell its stones, Dominion Diamond Mines, the miner that sold luxury brand Harry Winston to Swatch Group AG in 2013, filed for insolvency protection in late April. Anglo American Plc’s De Beers cut 2020 production guidance by a fifth in the same period, in line with demand. To secure their future, diamond giants may need a rebranding akin to the storytelling feat pulled off by Harry Oppenheimer, the late De Beers chairman who cultivated the engagement ring to overcome a slump after the Great Depression. In so doing, he forged a tradition that fueled sales for decades. Today, a refreshed myth-making effort could target the post-pandemic concerns of millennial consumers: marketing the diamond as a store of value in volatile times comparable to art, which is also authentic, traceable and sustainable.
The consumer after COVID-19
21 may 2020
(retaildive.com) - Retailers and consumers alike remain focused on cutting short the impact of COVID-19, the disease that has swept the globe. At the moment in most locales, when people do venture out it's only for essential items from the few stores that are open, and these days their faces are often covered. Otherwise, shopping is accomplished online. The extreme lockdown of today will be eased at some point, though it's not yet clear when. Perhaps even more uncertain is what the frame of mind of their erstwhile customers will be.
How automation can transform mining
20 may 2020
(raconteur.net) - Mining is a traditionally analogue business. After all, the industry’s symbol worldwide is a hammer and pick. Yet, despite the sector’s antiquated reputation, some major mining companies are taking a progressive stance and proving digitisation and automation can achieve much better operational outcomes. Known as Mine 4.0, the industry is seeing digital transformation creep into everything from trucks, drills and trains to back-office processes, such as procurement and supply chain logistics.
