News
Namdeb seeks State recapitalisation as diamond prices erode revenue
Namdeb Holdings, comprising Namdeb and Debmarine Namibia, has approached the Namibian government for financial assistance as falling global diamond prices cut into revenue, The Namibian reports.
Today
Nornickel and Reksoft Implement "smart vision" to protect production
Nornickel has deployed a neural network-based video analytics system across its facilities, designed to prevent equipment breakdowns and production stoppages, the company’s press service reported.
Today
Lundin achieves record quarterly gold output at its flagship Ecuador mine
Vancouver-based Lundin Gold has reported that in the third quarter of 2026, gold production at its Fruta del Norte mine in southeast Ecuador hit a new quarterly record.
Today
Richemont, Signet in talks to join De Beers consortium – report
Luxury group Richemont and US retailer Signet Jewelers are in advanced talks to join the Global Diamond Consortium (GDC) bidding for De Beers, according to five people familiar with the matter, Bloomberg reports.
16 october 2026
Rio Tinto begins Q4 of 2026 with strong operational performance
The Anglo-Australian mining group Rio Tinto has reported its third-quarter 2026 results, highlighting strong operational performance.
16 october 2026
Perhaps a Tagline Is Not Forever
07 june 2016
(idexonline.com) - A report surfaced in Reuters this week that the Diamond Producers Association (DPA), set up last year to help spur diamond demand, has decided to launch a new slogan in June to replace “A Diamond is Forever.” At last year’s JCK Las Vegas show, Forevermark, the diamond brand from De Beers, announced with great fanfare that it would be reanimating the famous tagline as part of its brand strategy. And one can see why. Advertising Age named it “Slogan of the Century” in 1999, coming in ahead of Nike’s “Just Do It” and Coca Cola’s “The Pause That Refreshes.”
Rio Tinto defends Zimbabwe diamond sale amid storm
06 june 2016
(miningmx.com) - Rio Tinto defended its decision to sell a 78% stake in Murowa Diamonds and Sengwa Colliery to RZ Murowa Holdings – a transaction that has been criticised by the Zimbabwean government amid possible deal irregularities resulting in tax losses.
China’s luxury travel market in 2025: slower growth rate will still be world’s largest
03 june 2016
(jingdaily.com) - A new report by travel technology group Amadeus has a cautious outlook on the future growth of luxury trips taken by Chinese consumers based on the repercussions of China’s ongoing anti-corruption crackdown. The report, which looked at high-end travel trends across the globe, found that China’s luxury outbound travel market will experience larger overall double-digit growth at 12.2 percent compared to Europe’s until 2025. However, that growth will slow during this time period, while Europe’s will continue to steadily rise. The projected compounded annual growth rate for Europe until 2025 is 6.7 percent, while it’s 5.9 percent in the Asia-Pacific region. The trend, according to Amadeus, is attributed to China’s slowing economy, but also to a likelihood that Chinese travelers will be hesitant to over-expose their riches. “Fewer people want to be perceived as ultra-rich and attract scrutiny—as illustrated by the nation’s declining private jet market,” the report said. “In other words, luxury travelers in China are more conscious about flaunting their wealth, and will make travel choices accordingly.”
Best friends? Anglo keeps De Beers' diamonds
02 june 2016
(reuters.com) - Mining group Anglo American (AAL.L) has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch. The group, in which Anglo American has an 85 percent stake, has seen its market share fall from over 80 percent in the 1980s to about a third now, losing it control of supply and unleashing price volatility. Its challenges are compounded by competition from synthetic diamonds and uncertain demand from customers in the "millennial" generation, aged roughly 18 to 34. Anglo has cut the value of De Beers assets in its books each year since 2012, after it had paid $5.1 billion for a 40 percent stake. But it remains the largest diamond producer by value ahead of Russia's Alrosa (ALRS.MM), securing access to top mines through close ties to countries such as Namibia, with which signed a 10-year sales deal, and Botswana.
Surprise?
01 june 2016
(polishedprices.com) - The unsurprising news being shouted from the rooftops is that De Beers has signed a 10 year marketing agreement with the Government of Namibia. Of much greater interest to me was the price that the 815 carat stone from Lucara fetched, namely some $77,000 per carat or total price of $63 million. This I did find surprising, surprisingly good. I have only seen photos of the stone and spoken to one or two who have seen the stone and getting such a high dollar per carat per se is not that out of place, but when put together with the extreme size of the stone, the total price paid was extraordinary. The general rule in diamonds is that the price increases exponentially as the size increases, but things do tend to plateau, as the size gets exceptional; the total sum of cash involved becomes a factor in the price. In a market, which De Beers has described as being in a fragile recovery, no one can claim is the strongest it has ever been, an indication of which is the lack of liquidity and generally fairly weak prices overall, to achieve such a high price, I believe tells us, or me at least, just how remarkable our product can be.
