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Category: Diamond

Russia diamond supply squeeze may benefit Zimbabwe miner’s gems 1 Diamond 

Russia diamond supply squeeze may benefit Zimbabwe miner’s gems

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Zimbabwe’s biggest rough diamonds miner sees Russia’s invasion of Ukraine triggering “far-reaching consequences” for the global gem industry and possibly lifting demand for its own diamonds. Russia’s Alrosa is the world’s biggest diamond producer by volume at 30% and the slightest disruption to its ability to supply distorts the market, according to Zimbabwe Consolidated Diamond Co CEO Mark Mabhudhu. “It may end up creating the supply gap that may drive demand for our product, as well as that of other players,” he said in an interview Monday. “However, we don’t wish… Read More Here
New Debmarine Namibia diamond recovery vessel sets world record 2 Diamond International 

New Debmarine Namibia diamond recovery vessel sets world record

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The World Record Academy has stated that Debmarine Namibia’s latest diamond recovery vessel, Additional Mining Vessel 3 (AMV3), has set a new world record for the largest diamond recovery vessel. The 177m diamond recovery vessel AMV3 was built at Damen Shipyards Mangalia in Romania for Debmarine Namibia, a 50/50 joint venture between the De Beers Group and the government of Namibia, at a cost of approximately US$470 million. It is the first vessel to be delivered by Damen Shipyards Mangalia, marking the end of the shipbuilding phase of the project… Read More Here
De Beers reassures market its diamonds do not come from Russia 3 Diamond International 

De Beers reassures market its diamonds do not come from Russia

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Diamond major De Beers is encouraging retailers to “buy with confidence” by engaging with their suppliers to understand the origin of their diamonds, following an executive order by US President Joe Biden banning the importation of Russia-sourced diamonds into the US. Biden made the move as part of a broad package of sanctions against Russia, its State entities and political backers as a result of Russian President Vladimir Putin’s decision to invade Ukraine in February. Many nations have implemented a myriad of sanctions on Russian commodities and products, including oil and gas. According to business data platform Statista, Russia had… Read More Here
De Beers achieves solid revenues in second sales cycle of the year 4 Diamond 

De Beers achieves solid revenues in second sales cycle of the year

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Diamond miner De Beers has earned revenue of $650-million from its second sales cycle this year. This follows the $660-million in revenue earned in the first cycle of the year and is an improvement on the $550-million of revenue earned in the second sales cycle of 2021. De Beers says it continues to implement a flexible approach to its global sightholder sales and auctions owing to restrictions on the movement of people and products in various jurisdictions around the world. Commenting on demand, CEO Bruce Cleaver says the second sales cycle of… Read More Here
Surging diamond demand helps Botswana trader post record sales 5 Diamond 

Surging diamond demand helps Botswana trader post record sales

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Botswana’s State-run diamond trader reported record revenue last year with sales surging almost five fold after imports from the US recovered from a Covid-19 induced slowdown. Okavango Diamond Company sold $963-million of rough diamonds last year, said Dennis Tlaang, a company spokesman. The revenue was the most since the company began operations in 2012, he said. “The demand for natural rough diamonds remained strong throughout 2021 driven primarily by positive market sentiment in key markets such as the United States,” Tlaang said. Sales may rise further this year after De Beers,… Read More Here

DRC: with a production of 78.2 million carats, diamond exports generated 1.077 billion USD between 2015 and 2019

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For the period between 2015 and 2019, the Democratic Republic of Congo (DRC) produced more than 78,216,600.47 million carats of diamonds. As indicated in the statistical yearbook of the Ministry of Mines, this production generated more than 1,017,877,825.81 billion US dollars. According to these data from the statistical directory, this production estimated at 78.2 million carats is distributed as follows: • In 2015, diamond production stood at 15,753,487.33 million carats, for an export of approximately 15,789,209.09 million carats for revenue of US$231,078,056.83 million. This production will experience a slight decrease… Read More Here
De Beers makes diamond buyers cough up cash with fresh price rise 6 Diamond 

De Beers makes diamond buyers cough up cash with fresh price rise

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De Beers has implemented its biggest price increase for diamonds in years as the industry consolidates its recovery from the first pandemic-induced shutdowns. The Anglo American unit hiked prices by about 8% at its first sale of the year, according to Bloomberg. The sharpest increases of up to 20% were for smaller, cheaper stones. The changes at the January sight, which runs from Monday to Friday this week, reflected buoyant polished sales during the recent US festive period, as well as a hot rough market. The company increased the price of… Read More Here
Botswana Diamonds shares shoot up on Thorny River potential 7 Diamond 

Botswana Diamonds shares shoot up on Thorny River potential

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Shares in Botswana Diamonds soared on Wednesday after the company revealed that its Thorny River project in South Africa was likely to hold kimberlite volumes “considerably better than expected.” The stock rose as much as 19%, reaching 1.1p each in early morning trade, and, while it lost some of the gains, it was still trading almost 11% at 1.02p by mid-afternoon. That put the company market capitalization at £8.71 million (almost $12m). Botswana Diamonds said that following a preliminary assessment of Thorny River’s kimberlite potential, it estimated the asset hosts about 2… Read More Here
De Beers to explore for diamonds in Angola 8 Diamond 

De Beers to explore for diamonds in Angola

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De Beers, the world’s largest diamond miner by value, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola, following reforms implemented by the country’s government to boost the sector. The company, a unit of Anglo American (LON: AAL), and the country authorities will start discussions around a mineral investment contract, De Beers said. The agreement would set legally binding terms and conditions to be met by both parties for activities in north-eastern. The nation’s diamond industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a… Read More Here
Botswana’s Debswana diamond sales jump 73% in first nine months of 2021 9 Diamond 

Botswana’s Debswana diamond sales jump 73% in first nine months of 2021

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Sales of rough diamonds by Debswana Diamond Company jumped 73% in the first nine months of 2021, statistics released by the Bank of Botswana showed on Tuesday, driven by the reopening of U.S. and China’s consumer markets. Debswana, a joint venture between Anglo American business De Beers and the Botswana government, sells 75% of its output to De Beers, with the balance taken up by state-owned Okavango Diamond Company. Debswana sales fell by 30% in 2020 as the covid-19 pandemic hit demand while global travel restrictions hurt trading. Botswana closed… Read More Here

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