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
Why the NGOs and Dubai Still Can’t Get Along
24 may 2016
(jckonline.com) - There have been so many feuds and boycotts and crises in the Kimberley Process over the years that it can be difficult keeping up with them all, never mind caring. But recently, mediation that attempted to end civil society’s boycott of this year’s KP meetings came to a premature halt, which represents a worrisome sign about whether the various sides in the KP can continue to work together—and more importantly, whether the industry can continue to reform itself.
Lucara's Diamond Sale of a Lifetime
23 may 2016
(diamonds.net) - In a somewhat underplayed announcement, Lucara Diamond Corporation recently unveiled the most expensive rough diamond ever sold. A short press statement - initially sent without pictures - reported the 812.77-carat stone named ‘The Constellation’ sold for $63.1 million breaking “all records” for a rough diamond. Ordinarily, Lucara would be making a bigger fuss about this eye-popping sale. But the company, along with the diamond and investment communities, knows this was a mere curtain raiser. The record is bound to be smashed when the 1,109-carat Lesedi La Rona diamond goes under the hammer at Sotheby’s London on June 29. Sotheby’s set a $70 million pre-sale estimate for the stone, which is acknowledged to be the second-largest rough diamond ever recovered. That assessment now looks conservative in light of The Constellation’s record price-tag. But while the potential price will certainly get heads turning, there are other aspects of the sale that are significantly adding to the prospect of the Sotheby’s auction.
Article Paints Unsavory Picture of Operations at Israeli Exchange
20 may 2016
(thediamondloupe.com) - A lengthy article in the Ha'aretz newspaper begins by looking at the case of Hanan Abramovich and an alleged fraud with a value of around $55 million before talking about other financial shenanigans, such as an underground bank that operated within the Israel Diamond Exchange, bankruptcies and a family firm that allegedly owes other IDE members $15 million. “For seven months Hanan Abramovich told us stories – there is money, there isn’t money. He kept saying ‘God will provide’ and making promises. We counted 12 different stories. All the scenarios imploded. Finally, the diamond traders gave up and started proceedings,” explained IDE Managing Director Eli Avidar.
Lesotho aiming to be a major diamond producer in next few years
19 may 2016
(engineeringnews.co.za) - The mining industry in Lesotho is still in its infancy, but it is developing and has a lot of potential, says Lesotho Mining Minister Lebohang Thotanyana. In 2015, Lesotho adopted the Minerals and Mining Policy – the first time that the country has developed a policy specifically focused on its mineral resources sector. “I think it provides us with a very solid foundation for our mining industry policies and regulations,” Thotanyana states, adding that the policy was largely influenced by the Africa Mining Vision – the African Union’s blueprint to develop the mining sector in Africa.
Betrayal of Trust: Uncovering Police Corruption in the Belgium Diamond Sector
18 may 2016
(idexonline.com) - In every society there are some who commit crimes. An investigative free press will not hesitate to expose those individuals and companies. All of us trust and rely on law enforcement institutions to make sure that those who violate laws are held accountable – and pay the price (including removal from society through prisons or death penalty). The police are there to ensure that the law is upheld – in fact, they represent the law, they are the face of the law. If the police themselves violate laws, fabricate evidence, make false arrests, use their power to extort, society cannot function. People start to fear the police – they may even feel compelled to take the law into their own hands. In recent years, many diamantaires in Antwerp have lost their trust in those whose sole task it is to police the diamond sector. One sensed that there were corrupt elements in the diamond police. That there were policemen who broke their social contract and abused their power for personal gain. Some diamantaires and companies became victims – some went bankrupt as their inventories had been arbitrarily and unnecessarily seized.
