Category: Diamond

Cullinan Mine Unveils 42-Carat Type IIb Blue Diamond Valued at $40 Million A rare blue diamond weighing 41.82 carats has been discovered at South Africa’s historic Cullinan Mine, reinforcing the site’s reputation for producing some of the world’s most exceptional coloured diamonds. Industry experts estimate the stone could fetch $30–$40 million at auction. Petra Diamonds, which operates the mine approximately 20 miles east of Pretoria, described the find as a “type IIb blue diamond of seemingly exceptional quality in terms of both colour and clarity.” Specialists are still assessing the… Read More Here

De Beers Attracts Interest from African Governments and Investors as Anglo American Plans Exit De Beers has attracted interest from multiple business groups and African governments as its parent company, Anglo American, prepares to divest its majority stake in the diamond producer, according to De Beers Chief Executive Officer Al Cook. Cook said that several major diamond-producing nations, including Botswana, Angola and Namibia, have expressed interest in acquiring equity in De Beers, alongside a number of business-led investor groups. He declined to comment on the status of discussions or identify… Read More Here

Lucara Diamond Corp Selects Group R for Major Lateral Development Works at Karowe Underground Mine in Botswana Canada-headquartered Lucara Diamond Corporation has awarded the lateral development contract for its Karowe Underground Project (UGP) in Botswana to Group R Mining and Exploration Botswana. The contract covers all underground lateral development linking the production and ventilation shafts to the orebody. This includes construction of the extraction level, underground crushing chamber, fine ore bins, pump stations with vertical dams, drilling horizons, workshops, and all necessary connecting infrastructure to advance development toward the kimberlite.… Read More Here

Botswana and Angola Meet to Discuss Cooperation on De Beers Sale as Africa’s Diamond Market Shifts Botswana and Angola held high-level talks in Gaborone, Botswana, as both countries position themselves to gain control of De Beers, the diamond unit that Anglo American is selling as part of a corporate restructuring. Botswana’s Mines Minister Bogolo Joy Kenewendo and Angola’s Mineral Resources Minister Diamantino Pedro Azevedo met privately for approximately 40 minutes before making brief comments to the press. They confirmed discussions focused on diamond sector cooperation, energy, and logistics, though specific… Read More Here

Angola submits bid for Anglo American’s De Beers stake as Botswana and investor groups compete Angola has submitted a formal offer to acquire Anglo American’s 85% majority stake in De Beers, joining a growing list of potential buyers that includes Botswana and investor groups led by former De Beers executives. State-owned Angolan diamond producer Endiama presented a “concrete and well-defined proposal” and is moving forward with subsequent steps, said CEO José Manuel Ganga Júnior, who declined to provide further details due to the confidential nature of negotiations. The sale is… Read More Here