DiaMondaine Diamantaires Club mulls diamond safari tours in southern Africa

DiaMondaine Diamantaires Club (DDC) is set to organise diamond safari tours in southern Africa, home to major diamond-producing countries. DDC founder Agnes Abdulahu told Rough&Polished’s Mathew Nyaungwa that the launch of the first diamond safari...

15 july 2024

Vladislav Zhdanov: Questions of efficiency and investment potential of diamond mining versus diamond growing pique keen interest

Vladislav Zhdanov is Professor at the National Research University Higher School of Economics (HSE). He told Rough&Polished about new researches into the effectiveness of diamond production methods.

02 july 2024

Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

The African Diamond Manufacturers Association (ADMA) president António Oliveira told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that the lack of a robust infrastructure in Africa fails to accelerate and encourage manufacturing...

24 june 2024

Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 2024

GemsCouture- avant-garde by Victor Moiseikin

Jewelry items and precious souvenirs of the MOISEIKIN jewelry brand are in the museums and private collections of world celebrities, representatives of the political and cultural elite - from Xi Jinping to the British Windsors, from Angela Merkel to...

05 june 2024

De Beers' core earnings decline amid macroeconomic challenges

01 august 2023

De Beers reported $347 million in first-half earnings before interest, taxes, depreciation, and amortisation (EBITDA) compared to $944 million a year earlier, with the diamond company's 50% mining margin being the highest within the Anglo American stable.

Anglo American chief executive Duncan Wanblad praised De Beers' operational performance, stating that macro-economic conditions impacted rough diamond demand.

"Operational performance at De Beers has been really good," he was quoted by Mining Weekly as saying during the group’s half-year results presentation.

"The macro-economic conditions have indeed impacted rough diamond demand, as they always do, and we are likely, given what’s happening in China, to remain challenged during the second half of this year."

He added: "The consequent result of that is that there will be a little bit of buildup in midstream inventory levels."

De Beers produced 16.5 million carats in the half-year compared to the previous year’s 16.9 million carats, with South Africa's Venetia transitioning from open pit to underground.

Meanwhile, De Beers chief financial officer Sarah Kuijlaar confirmed that a pilot died at the end of June after a small aircraft prospecting for diamonds crashed in Angola’s Minas Gerais region.

"It's a terrible incident for the whole De Beers family." "We're working with the Angolan authorities to really distill our learnings," she said.

De Beers signed mining investment contracts last year with the Angolan government for license areas in Lunda Norte and Lunda Sul.

The diamond group holds an initial 90% stake, while Endiama holds 10% with the potential to increase to 20%.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished