Diamond - Copperbelt Katanga Mining

Diamond Market Crisis Hits Mbuji-Mayi – Prices Plummet

May 20, 2024May 20, 2024 Constance

The diamond market is experiencing a dramatic downturn In Mbuji-Mayi, the capital of the Kasai-Oriental province. Recently, the price of a carat of diamond has dropped from $2 to less than $1. This significant price fluctuation in the Democratic Republic of Congo’s diamond capital is driven by the forces of supply and demand. “Prices rise with demand and the quality of the merchandise,” noted Dieudonné Kalala, president of the provincial diamond council, as reported by UN radio in the DRC. He explained that international market demands directly impact local buyers… Read More Here

International Diamond

Lucapa to sell majority stake in Lesotho diamond mine

May 17, 2024May 17, 2024 Constance

Australia’s Lucapa Diamond (ASX: LOM) has put its 70% stake in the Mothae mine in Lesotho up for sale to focus on its core assets and is discussing options for the 30% held by the country’s government. The diamond miner’s board said it was “considering all options for the divestment” and finalizing a data room for interested parties. “On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” chairman Stuart Brown said in the statement. “The company’s collaboration with… Read More Here

International Diamond

Anglo American to Sell De Beers Amid Industry Turmoil

May 15, 2024May 15, 2024 Constance

Anglo American announced on Tuesday its plans to spin off or sell its De Beers diamond business, ending an almost century-long association with the industry’s most renowned name. This decision is part of a broader restructuring strategy aimed at countering a $43 billion takeover bid from BHP Group, marking a significant shift in the diamond world. The diamond industry is currently under pressure from slumping prices, sanctions on Russia affecting trade, and the rising popularity of lab-grown gems, which are encroaching on traditional markets. The uncertainty surrounding the future operation… Read More Here

Mining in DRC Diamond Economy

DRC Diamond Exports Experience Historic Decline Over a Decade

May 9, 2024May 9, 2024 Constance

Over the span of a decade, from 2013 to 2023, the Democratic Republic of Congo (DRC) has witnessed a significant downturn in diamond exports, as revealed by statistical data from the Ministry of Mines via the technical cell for coordination and mining planning (CTCPM). In 2023, the DRC’s diamond production reached 8,305,796.60 carats, nearly half of the 2017 production peak of 17,924,982.26 carats, marking the lowest level recorded since 2019. Compared to 2022, diamond production in 2017 experienced a decline of over 28%. Over the past five years, it has… Read More Here

International Diamond

𝗗𝗘 𝗕𝗘𝗘𝗥𝗦 𝗚𝗥𝗢𝗨𝗣 𝗧𝗢 𝗥𝗘𝗟𝗢𝗖𝗔𝗧𝗘 𝗔𝗨𝗖𝗧𝗜𝗢𝗡𝗦 𝗛𝗘𝗔𝗗𝗤𝗨𝗔𝗥𝗧𝗘𝗥𝗦 𝗙𝗥𝗢𝗠 𝗦𝗜𝗡𝗚𝗔𝗣𝗢𝗥𝗘 𝗧𝗢 𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔

April 28, 2024April 28, 2024 Constance

De Beers Group last week announced it is relocating the De Beers Group Auctions business headquarters from Singapore to Botswana. The relocation supports De Beers’ focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana. De Beers Group’s decision to relocate its Auctions headquarters to Gaborone reinforces its commitment to developing Botswana’s diamond industry. It also reflects confidence in the country’s capabilities and growth agenda. De Beers Global Sightholder Sales moved from the United Kingdom to Botswana… Read More Here

International Diamond Mining Personality

Debswana Appoints Keene Nkoane as first female Engineering Manager

April 18, 2024April 18, 2024 Constance

Debswana,the leading rough diamonds producer continues to set the trend in diversity and progressive leadership appointments. The 50/50 De Beers – Botswana joint venture has appointed top Engineer Ms. Keene Nkoane as the first female Senior Engineering Manager inthe history of the company. She is based at Orapa Letlhakane and Damtshaa Mines (OLDM). Nkoane joined Debswana in 2003 based in Jwaneng Mine following her completion of BEng (Hons) in Electrical & Electronic from Nottingham University, United Kingdom. Born and bred in Maun, Nkoane grew up as a passionate and curious… Read More Here

Diamond International Mining Personality

Lucapa Diamond Company Appoints Stuart Brown as Chairman of the Board

April 9, 2024April 9, 2024 Constance

Lucapa Diamond Company has announced the appointment of industry veteran Stuart Brown as the new chairman of its board. Brown brings extensive experience from his tenure at prominent diamond-mining companies, including De Beers, Firestone Diamonds, and Mountain Province. With a career spanning two decades at De Beers, Brown served in key roles such as interim CEO and chief financial officer. Notably, during his leadership at Firestone Diamonds, he successfully raised $225 million for the development of the Liqhobong mine in Lesotho. Brown currently serves as a director of Ukrainian iron-ore… Read More Here

Mining in Zambia Diamond News in Brief

Zambia’s President Invites Botswana Investment Expertise to Mining Sector

April 7, 2024April 7, 2024 Constance1 Comment

President Hakainde Hichilema has extended an invitation to Botswana to invest in Zambia’s mining sector, citing Botswana’s expertise in managing diamonds as a key factor. Speaking at the launch of the Lusaka International Arbitration Center (LIAC), President Hichilema emphasized the importance of learning from Botswana’s successful management of diamond resources and replicating similar strategies for Zambia’s emeralds. President Hichilema expressed confidence in attracting investors like Botswana to utilize LIAC for resolving disputes efficiently. He highlighted LIAC’s role in addressing commercial issues promptly, stressing its significance in maintaining Zambia’s positive reputation… Read More Here

Mining in DRC Diamond

NGOs Call on President Tshisekedi to Address Disappearance of Precious Diamond

March 30, 2024March 30, 2024 Constance

Two non-governmental organizations (NGOs) advocating for human rights defense are calling on President Félix Antoine Tshisekedi to intervene in a case involving the disappearance of a precious stone weighing over 40 carats from the facilities of the Ministry of Mines in the province of Lomami. The NGOs, “Environment, Natural Resources for Development” (ERND Institute) and “Proximity Leaders for Local and Inclusive Governance” (LPGLI-RDC), emphasized the importance of tracing the missing stone to prevent financial losses for the Congolese state. In a statement released on Tuesday, March 26, 2024, the NGOs… Read More Here

Mining in Zambia Diamond

Debswana Prepares for Jwaneng Underground Project with Local Talent Development

March 23, 2024March 23, 2024 Constance1 Comment

Debswana, in preparation for its upcoming Jwaneng underground project in Botswana, has been actively nurturing local talent and enhancing skills development by enrolling graduate learners in various mining-related disciplines. Selected from a pool of candidates, 26 graduates are currently undergoing experiential learning at the Mopani Central training center in Zambia, a strategic move aimed at equipping them with the necessary skills and expertise for the challenges ahead. This initiative not only strengthens Debswana’s strategic partnerships with other underground mines but also promotes diversity and helps mitigate business risks. According to… Read More Here