Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
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The announcement came as the company reported a 23 percent drop in production in Q1.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Stuart Brown, who was De Beers’ CFO and interim CEO, is now Lucapa’s independent non-executive chairman.
The Natural Diamond Council also has added its first non-mining member, the Okavango Diamond Company.
The former WJA executive director is MFM’s new managing director.
The miner’s March auction generated $19 million.
The miner unveiled its newest peridot cut at the recent Hong Kong show.
The company’s rough sales improved for the third sales cycle in a row.
It is another 10-year sales agreement in which all the larger rough recovered from the Karowe mine will go to HB Group for manufacturing.
The company recovered 31.9 million carats of diamonds in 2023, compared with 34.6 million in 2022.
The diamond miner and marketer said “solid” holiday sales in the U.S. helped stabilize the industry.
Four of those who died in Tuesday’s crash were workers at the mine, while two were airline crew members.
The company was up against tough comps and had to curtail sales as diamond demand waned.
The EU also provided details on the carat weight threshold, and how it will track rough diamonds.
Its final sale this year brought the miner’s annual auction revenue to the second highest in its history.
The Choron Group has acquired the diamond, which Storm Mountain Diamonds recovered in Lesotho earlier this year.
Though diamond demand is expected to recover, leaders are urging the industry to remain cautious amid economic and geopolitical tensions.
It provides a timeline for the implementation of new restrictions, but no details.
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.
Matthew Breen will take over as chief operating officer, succeeding Angela Biggs, the first woman to lead the mine.