De Beers

Gem Diamonds finds 122 carat stone at Letšeng mine

Africa-focused miner Gem Diamonds has unearthed yet another massive white diamond at its prolific Letšeng mine in Lesotho, just days after another major find. The 122.2 carat Type II white diamond was recovered over the weekend and is the eleventh greater than 100-carat precious stone mined this year at the operation, the company said. Sign … Read more

Zimbabwe Ramps up Diamond Production

Zimbabwe’s state-owned diamond company is forecasting a 16 per cent increase this year. The Zimbabwe Consolidated Diamond Company (ZCDC) said it was ramping up production to 5.7m carats in 2024 and would aim to increase that figure to 10m carats next year. Munashe Shava, ZCDC board chairman, said: “Commodity prices are depressed on the global … Read more

$300m Loan to Boost Okavango Diamond Purchases

Botswana’s state-owned diamond marketing company will increase its borrowing to fund additional rough purchases. Finance Minister Peggy Serame said last Thursday (29 August) that the government had arranged a $300m credit facility, with the Standard Chartered Bank for the Okavango Diamond Company (ODC). It hopes to capitalize on a long-awaited recovery the global diamond market. … Read more

Have lab-grown diamonds changed the diamond industry forever?

Kodak never saw it coming either. Since early 2022, the price of polished natural diamonds has fallen approximately 40% and the industry is being buffeted by negative economic headwinds, an excess of mine supply and too much stock in the cutting centres. However, there is one statistic that cannot be ignored: around 50% of Diamond … Read more