Can De Beers make diamonds forever again?
So … diamonds are forever, you say. Are we sure about that? The diamond market has, over the past few years, seen a cataclysmic shift that threatens its foundations to the core…
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…
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…
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…
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…
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…
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…
Rio Tinto exits diamonds after half a century
RIO Tinto has closed its last diamond mine, ending more than 50 years in the business as the world’s second-largest miner sharpens its focus on copper, iron ore, aluminium and…
Diamond industry faces its deepest crisis
THE global diamond industry is in its deepest crisis in modern history, battered by collapsing Chinese demand, the rapid rise of lab-grown stones, US tariffs and record gold…
A crisis forever? How diamond miners are digging in
THE impending liquidation of Ekapa Mining following a deadly mudslide last month brings the curtain down on roughly 150 years of diamond mining in Kimberley, where the junior…
De Beers sale gets cheaper, though not easier
ANGLO American has massively downgraded the value of De Beers on its balance sheet, suggesting a bargain might be in the offing for its many bidders. Which might make the sale…
Lab-grown diamond market bubble has burst
OVER supply and plummeting prices have undermined consumer confidence in lab-grown diamonds, prompting a shift back towards natural stones, said Reuters citing the comments of…
Anglo favours De Beers buyer with industry experience
WHEN Gareth Penny ended his 22-year career at De Beers in 2010, the company was only just emerging from the tumult of the global financial crisis. Amid high indebtedness and poor…
A year after unveiling its restructure, Anglo has surprised the market
Voicemail is on the decline globally, 8% lower since 2020, according to US company Vonage. Coca-Cola removed it from its corporate headquarters three years ago. Yet for Ken…
De Beers to close lab grown business
DE BEERS is closing its lab-grown business after saying earlier it had stopped selling the stones as jewellery. Citing the diamond company’s CEO Al Cook, Bloomberg News said on…
Listing De Beers is the only way out for Anglo American
RECENT reports suggest Anglo American is exploring listing options for De Beers. In my opinion, this is the only route that Anglo can realistically pursue for the separation of…
Lucara upbeat on stabilised diamond market
LUCARA Diamond Corp. CEO William Lamb took an upbeat view of the diamond market saying it had probably bottomed out in the fourth quarter while producer price cuts would spur a…
Petra Diamonds CEO Richard Duffy resigns amid debt crunch
PETRA Diamonds today announced the resignation of its CEO Richard Duffy ending nearly six – largely difficult – years at the company blighted by poor trading conditions which has…
Marketing focus to be feature of independent De Beers
DE Beers has amassed a stockpile of diamonds worth $2bn – the largest since the 2008 world financial crisis – following a period of prolonged poor demand. The Financial Times…
Out of the spotlight, Trans Hex stages surprising comeback
When Trans Hex skulked off the JSE at the end of 2019, few punters gave the beleaguered diamond mining group a snowball’s chance of surviving … let alone ever thriving again. At…