ANGLO AMERICAN
Botswana rules out reckless De Beers spending
- Staff Writer
MINING
Anglo not exclusive with any buyer for De Beers, says CEO
ANGLO American had not entered into an exclusive agreement with any of the bidding consortiums for De Beers, said the group’s CEO, Duncan Wanblad. “We are not exclusive with any particular consortium at this…
BOTSWANA
Anglo in talks to sell De Beers for $1bn
ANGLO American is discussing a deal worth about $1bn to sell its De Beers diamond business, a fraction of what the one-time diamond monopoly was once worth, said Bloomberg News. Global Diamond Consortium, led…
DEBT
Petra Diamonds secures R300m loan amid Finsch rescue
PETRA Diamonds said it had secured R300m from a senior lender for working capital while it finalised business rescue for its currently suspended Finsch mine. Commenting in the firm’s 2026 operating and…
DE BEERS
Anglo’s diamond pain deepens as prices sink 32%
THE crisis in the diamond market appears unrelenting, with Anglo American disclosing in a production report on Thursday that average prices for uncut gems plummeted 32% during the first six months of 2026.…
PLATINUM
Mining tariff relief awaits new Eskom pricing policy
THE possible extension of electricity tariff discounts to sectors of the South African mining industry other than the ferrochrome producers will have to wait until after publication of a revised electricity…
BOTSWANA
Botswana weighs options as Anglo picks De Beers bidder
ANGLO American has identified a preferred bidder for its 85% stake in De Beers, leaving Botswana to decide how it will exercise its right of first refusal, Reuters quoted a government minister saying on…
PETRA DIAMONDS
Why De Beers opted to shut Venetia diamond mine
DE Beers is preparing to shutter South Africa’s largest diamond mine for two years, threatening thousands of jobs and removing roughly two-fifths of the country’s diamond production as the industry’s most…
OIL
Anglo knocked as key De Beers bidder pulls interest
ANGLO American’s auction of its storied diamond division De Beers has turned out to be a bit of a dog show, with many of the potential bidders apparently dropping out amid continuously declining rough diamond…
MINING
De Beers to halt Venetia mine for two years
DE BEERS plans to suspend production at its Venetia mine in South Africa for two years, as the diamond producer battles one of the toughest downturns in the industry’s history, said Bloomberg News on Monday.…
MONTEPUEZ
Gemfields shares hit record low after CEO exit
SHARES in Gemfields, the JSE-listed coloured-gemstone producer, sank to an all-time low this week, deepening investor unease about the company’s turnaround prospects following the exit of its long-serving…
IRON ORE
Amid the gloom, De Beers sees glimmer of hope
SHOPPING for platinum jewellery, especially of the bridal variety, has become more expensive in the past year thanks to the 35% improvement in the metal’s price. But for a good deal, look no further than…
BOTSWANA
Consortinum led by ex-De Beers boss leads race to buy miner
A CONSORTIUM led by Gareth Penny, the former CEO of De Beers, has emerged as the frontrunner to acquire the world’s largest diamond miner as the Iran conflict disrupts rival bidders’ efforts to secure…
ALUMINIUM
Chinese lab-grown diamonds ride AI wave
LAB-grown diamonds, long synonymous with jewellery, are finding an unexpected second market as cooling components in artificial intelligence semiconductors, driving sharp share price gains among Chinese…
DIAMONDS
Petra Diamonds puts Finsch mine into business rescue
THE continuing grim conditions in the global diamond business have claimed another South African victim in the form of Petra Diamond’s Finsch mine in the Northern Cape which is being put into business rescue.…
DIAMONDS
Lab-diamond retailers lose UK advertising standards ruling
TWO online jewellery retailers have been barred from using the word “diamond” without qualification in their advertising, said the Financial Times on Wednesday. This was after Britain’s Advertising Standards…