Supplier Spotlight Sponsored by GIA
De Beers Sells its Oldest Diamond Mining Site
Two companies are paying $7.2 million to buy the Kimberley Mines, a site where diamond production has been taking place since the 1870s.
London--De Beers has inked an agreement to sell its oldest diamond mining site, the historic Kimberley Mines in South Africa, to a consortium of two mining companies for $7.2 million.
Petra Diamonds Ltd. and Ekapa Mining (Pty) Ltd. are purchasing Kimberley together as Ekapa Minerals (Pty) Ltd. At 50.1 percent, Ekapa will have a slightly larger stake in the operation than Petra (49.9 percent).
The acquisition includes what remains of the diamond mining operations there--a number of tailings dumps and a combined treatment plant--plus Kimberley’s employees and all other assets and liabilities. Tailings dumps consist of previously processed material that is put aside and then sifted through again, in case any diamonds were missed the first time around.
Ekapa will be the lead operator of the Kimberley Mines, with company CEO and founder Jahn Hohne, a GIA gemologist, managing the site.
Ekapa is a mid-sized tailings mineral resources (TMR) processing business that has been operating in Kimberley for more than 25 years, and already owns a share in TMRs sourced from the famous five-cluster of old Kimberley mines.
London-based Petra has an interest in a total of five producing mines, four in South Africa and one in Tanzania, which just yielded a 23.16-carat pink diamond. Its holdings already include Kimberley Underground, which consists of Dutoitspan, Wesselton and Bultfontein, the site’s three historic underground mines. It purchased them from De Beers in the early 2000s.
De Beers announced in the spring that it was looking for a buyer for the Kimberley Mines, and said upon its sale this week that it had more than 70 “expressions of interest” in the operation.
Diamond mining first began on the site where Kimberley Mines sits today about 20 years before De Beers officially was formed, in 1888. The company has been mining there for its entire history but hasn’t had underground operations on the site since selling them to Petra.
The Latest
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.