Anglo American to Ditch Diamonds and Platinum, Considers De Beers IPO

Anglo American Plc is implementing strategic changes to unlock shareholder value and enhance returns. This includes exiting diamond, platinum, and coal mining operations, marking one of the most significant shake-ups in the company's 107-year history.

Key to this plan is the demerger or sale of its De Beers diamond business, alongside separating its Anglo American Platinum unit and divesting coking coal mines in Australia. Additionally, spending on a fertilizer mine project in England will be scaled back.

Finance and Trade

Lab-grown diamonds or natural diamonds. Who's the best student in class when it comes to sustainability?

Are lab-grown diamonds, to the naked eye identical to and sharing identical chemical and physical properties with natural diamonds, but 40-50% less expensive, that sustainable as often claimed by its producers? 

Sustainability

High Stakes in Hong Kong and Geneva Jewelry Auctions

The world of high-end jewelry auctions recently witnessed a dazzling display of opulence and prestige, with events in both Hong Kong and Geneva showcasing exceptional diamonds, gemstones, and exquisite craftsmanship.

Jewelry

Lucapa To Sell Lesotho Mothae Mine

Lucapa, the Australian listed miner with operations in Angola (Lulo) and Lesotho (Mothae) is looking to divest its 70% stake in the Mothae mine after a review of its asset portfolio by the recently restructured Lucapa board of directors.

Finance and TradeMining and ExplorationRough Market

De Beers Lightbox Cuts Prices

De Beers has announced its LGD line Lightbox is lowering prices of its offering from the initial US$800/ct and US$1500/ct for high colors, and adds "batch grading" reports from GIA based on sample grading. New Lightbox pricing (up to -40% from previous pricing) is lower than most lab-grown retail prices, JCK reports.

 

• I-J color, VS, very good cut: US$500/ct
• G-H color, VS, very good cut: US$600/ct
• D-E-F color, VS, excellent cut: US$900/ct

Photo credit: Lightbox

 

PolishedGrading

Lucara Reports Robust Q1 Results

Lucara Diamond in its Q1 2024 release reports total revenues of US$41.1m, slightly down y-o-y from US$42.8m. A total of 93,560ct were sold through its different sales channels, including through the renewed 10-year sales agreement with HB for specials (10.8ct+ rough diamonds) produced, with so-called "top-up payments" resulting in US$4.9m of the total revenues. In total 160 "specials" (5.1% of total cts) were recoverd in Q1, 3 of which larger than 100ct and one larger than 300ct.

Finance and TradeMining and ExplorationRough Market

Watches of Switzerland Buys Roberto Coin US for $130m

Watches of Switzerland (UK based) has acquired Roberto Coin Inc. the US division of the Italian jeweller and 6th largest brand in the US by sales through 400 points of sale, for US$130m. The acquisition will allow the group to increase the volume of Roberto Coin jewelry in its own retail network as well as the exclusive right to expand the wholesale reach of Roberto Coin Inc., which will operate as a standalone company within the group. The acquisition demonstrates the increasing importance of branded jewelry in the global retail landscape, National Jeweler notes. 

Finance and TradeRetail and Consumer Confidence

IGI launches accessible and science-based Light Performance Grading Report and empowers diamond producers

The International Gemological Institute (IGI), introduces Light Performance Grading Reports showcasing round brilliant cut diamonds with exceptional optical qualities. Whit this easy accessible and science based report along with cutting guidelines, the company wants to empower diamond producers to get the best possible cutting results. This tool, developed by IGI researchers and based on ray-tracing software and slope proportions logic, is a response to an increasing interest in expanded performance analysis.

Laboratories

EU's 14th Sanctions Proposal: Pre-Sanction Inventory Out of Scope Russian Diamond Ban

Reuters reports that in the EU's 14th Sanction Package proposal texts, currently being debated by EU members, clarification is given on so-called "grandfathered goods"; existing inventory of rough and polished diamonds that predate sanctions on Russian diamonds. The proposed text indicates that rough diamonds imported from Russia before January 1st 2024 and polished diamonds imported before March 1st (size 1ct up) and September 1st (0.50ct up) are not covered by the ban, addressing a concern that was raised by diamond industry stakeholders in the EU.

Finance and Trade

Met Gala Red Carpet Dripping in Diamonds

This year's MET Gala red carpet in Manhattan, the most prestigious and glamorous fashion event of the year, themed "The Garden of Time" was dripping in diamonds. The Natural Diamond Council (NDC)'s Only Natural Diamonds site lists an impressive overview of the world's rich and famous and what they wore on the annual fundraising gala, with some of the most lavish and exquisite diamond jewelry pieces taking center stage.

Polished

India's LGD Industry Takes Break As Price Drop Continues

About 100 units in India's LGD growing and manufacturing industry have voted to observe a 15-day summer holiday starting May 15, hoping to control the rough and polished LGD supply and stopping the massive price drops seen in the LGD market. Traditionally, the (natural) diamond industry closes shop for a holiday period during Diwali.

ManufacturingPolished

Alrosa Stake Catoca (Angola) For Sale

According to Interfax, quoting Russia's Ministry of Finance Moiseyev, Alrosa will have to sell its stake in Angola's Catoca operation, as pressure from the West on the Angolans mounts to cut ties with Russian, sanctioned entities. According to Moiseyev negotiations to take over Alrosa's share, which originally stood at 41% of the mining operation, are ongoing with "friendly investors".

Mining and ExplorationRough Market

Burgundy Starts Strong in Q1

Burgundy Diamond Mines, reports strong results for Q1 2024 despite a subdued rough and polished market, with record revenues of US$117m for 1.32m cts sold (+65% in volume y-o-y). CEO Kim Truter cites Burgundy's consistent diamond quality and provenance assurances as key drivers for strong buyer interest. In Q1, Burgundy recovered 1.15m carats, including a 23.15ct fancy intense yellow. 

Photo credit Burgundy Diamond Mines

Rough MarketMining and Exploration

Anglo American: Game of Bids Begins

The Financial Times reports on the developing story of the unsolicited bid of Australia-listed BHP on London-listed mining conglomerate Anglo American, which includes the diamond mining branch De Beers, naming potential suitors. BHP's bid was rejected earlier this week by Anglo's board but says it is safe to assume BHP might counter with an improved proposal, while other candidates may well offer a competing bid.

Finance and TradeMining and Exploration

Lucapa Q1 Results Down, Q2 Starts Promising

Lucapa, operating the Lulo mine in Angola and Mothae in Lesotho, reports Q1 results were down with revenues clocking at US$13.1m, down 28% y-o-y, and rough prices down 41%, from avg 1,350US$/ct to 798US$/ct. Lulo production focused on lower grade areas due to flooding, resulting in low grades in carats recovered, while Mothae production improved in terms of carats recovered but with a significantly lower frequency of exceptional, high value diamonds.

Rough MarketMining and Exploration

De Beers Relocates Auction HQ to Botswana

De Beers Group has moved its Auction business headquarters from Singapore to Botswana, aiming to boost operational efficiency. CEO Al Cook expressed confidence in the move's potential to drive cost efficiencies and elevate customer satisfaction.

Rough Market

Jewelers Report Sales Increases in March

In the the latest Monthly Sales Survey, conducted by Instore Magazine,  146 jewelers were asked to compare their March sales with those of the same month last year. While some businesses experienced significant gains, others faced challenges. Here's a breakdown of the key findings:

 

Sales Performance Overview:

JewelryMarketing

Researchers Create LGD In 150 Minutes

The words of Botswana's President Masisi during his opening address of AWDC's Facets conference in Gaborone last year, when he described Lab-Grown Diamonds (LGD) as "microwave diamonds" come to mind as news came that South Korean scientist claim to have produced a synthetic diamond in little over two hours, using a new method that omits the need to mimic the immense pressure needed to form a diamond artificially. LGD production processes to date still require a significant amount of time to produce a diamond.

TechnologyFun Facts

Petra Diamonds Soars with $8.2m Blue Diamond Sale

Petra Diamonds recently made headlines with the sale of an exceptional US$8.2 million blue diamond, propelling its fifth tender of FY 2024 to new heights. Despite selling fewer carats, Petra achieved higher prices, with an average of US$136 per carat on sales of 362,000 carats, totaling US$49 million.

Rough Market

Gem Diamonds Q1 Reports and Recoveries

Gem Diamonds, who owns 70% of the Letšeng mine in Lesotho, has released its Q1 2024 Trading Update, which showcases robust operational and sales performances from January 1st to March 31st, 2024.

 

Key Highlights from Q1: 

Rough Market

De Beers' Fate Uncertain as BHP Considers Anglo American Takeover

According to Reuters, Australian mining giant BHP is contemplating a potential takeover of London-listed Anglo American, parent company of De Beers, news that is confirmed by Anglo American in a statement saying the bid is being reviewed.

Finance and TradeRough Market

3 Diamonds Fetch $10.5 Million at Lucapa Tender

ASX-listed Lucapa Diamond Company announced that three exceptional diamonds achieved US$10.5 million at the first tender of Lulo diamonds for 2024.

Rough Market

GJEPC Reports -25% Polished Export Drop

India's Gem and Jewellery Export Promotion Council (GJEPC) reports the overal exports of polished diamonds in FY2024 dropped 25.23% to nearly US$16bn from US$22bn in the previous financial year. GJEPC cites a slowdown in the US market due to high interest rates and slower than anticipated post-covid market conditions in China. LGD exports decreased 13.79% to US$1.4bn compared to US$1.6bn a year earlier. 

(photo Envato Elements)

Finance and TradePolished

Namdia to Invest 3.4bnUS$ in Local Diamond Industry

Namibian Mining News reports that at Mining Indaba, Namdia has unveiled plans to invest a massive 3.4bn US$ over the next ten years, expanding its operations, including through social responsiblity actions in its "Equitable Economic Empowerment Framework" and renewing its focus on exploration, aligned with more accessible and up to date exploration licenses and mining rights information via an e-platform. Namibia, ramping up its activities in green energy rapidly, is a mineral-rich country with huge potential in critical minerals such as lithium and rare earths.

Mining and ExplorationRough Market

Petra Sells 50 Percent of Williamson Mine Stake for $15M

Petra Diamonds announced last week that Taifa Mining and Civils Limited, will be buying 50 per cent less one share of the Petra’s shareholding in Williamson Diamonds Limited (WDL). Tiafa Mining has been serving as the long-term technical services contractor at the Williamson Mine for over 20 years in coordination with Petra but have now stepped up their role as an equity stakeholder in the project.

Mining and Exploration

NDC Brokers Partnership with 8 Key Leaders in Diamond Manufacturing

The Natural Diamond Council announced a major partnership with eight of the world’s most influential diamantaires. For the first time since the inception of the NDC (formerly the Diamond Producers Association), a collective agreement has been reached with a significant number of major businesses in the natural diamond value chain.

World News

The World Bids Farewell to Sir Gabi Tolkowsky - A Legend and Gentle Giant

The world bids farewell to yet another giant in the diamond industry.

At 84 years of age, Sir Gabriel ‘Gabi’ Tolkowsky ends a 6-decade long career and leaves behind him a legacy that has forever reshaped the art of diamond cutting and polishing.

World News

WDC Welcomes Feriel Zerouki as Newly Elected President

At the most recent WDC board meeting held in London, longtime diamond industry advocate and former Senior VP of Corporate Affairs at De Beers Group Feriel Zerouki has been named the new President of the World Diamond Council (WDC). Zerouki previously served as Vice President of the WDC for three years, now replacing Edward Asscher for the role of President.

World News

David Gotlib Re-Elected as Chairman of Antwerp Beurs Voor Diamanthandel

The Antwerp Beurs Voor Diamanthandel has announced that David Gotlib has once again been re-elected as Chairman. The organization has been advocating for the promotion and protection of the interestes of its members and shareholders in the diamond sector in Antwerp since its inception in 1904.

World News

Shanghai Diamond Price Index Officially Launched and Online

On May 5, Shanghai, at the Launch Ceremony of the “2023 Shanghai Diamond & Jewelry Culture Festival” and the “Shanghai May Shopping Festival” jointly organized by Shanghai Municipal Commission of Commerce and Pudong New Area Government, Shanghai Diamond Price Index (SDPI) was determined by the National Gems & Jewelry Testing Co. Ltd. (NGTC) jointly with Shanghai Diamond Exchange (SDE) and Gem & Jewelry Trade Association of China (GAC) officially released it.

Economy

Angolan Government Introduces New Incentivizations to Promote Benefication Manufacturing

Four incentives have been introduced by the Angolan Ministry of Mineral Resources to support beneficiation manufacturing in the country. The process works towards rewarding manufacturers and miners who take extra measures to treat materials further in their production chains. The four measures that have been introduced are as follows:

Manufacturing

Rio Tinto’s Diavik Mine Wins Towards Sustainable Mining 2023 Award

Rio Tinto’s Diavik diamond mine in the Northwest Territories to be the recipients of this year’s Towards Sustainable Mining (TSM) Excellence Awards.

The TSM Excellence Awards were introduced in 2014 and comprise two categories: the TSM Environmental Excellence Award and the TSM Community Engagement Excellence Award. For mining companies to qualify for these awards, they must be actively applying TSM principles.

Sustainability

Diamcor Begins Bulk Sampling into Greater Areas of its Krone-Endora at Venetia Diamond Mine Project

Canadian mining company Diamcor announced that it will be proceeding with an extensive drilling and bulk sampling program over the greater portions of its Krone-Endora at Venetia diamond mine project.

Mining and ExplorationRough Market

Original Giant of Israeli Diamond Industry and Inventor Zvi Yehuda Dead at 86

Zvi Yehuda, one of the founders of the Israeli diamond industry, owner of Yehuda Diamond Company and the inventor of numerous products for the diamond trade, died Saturday at 86. He is best known for his contributions to the Israeli diamond sector by introducing the concept of selling back diamond dust to cutters and polishers for use in grinding, at only 16 years of age. Later this innovation translated into industrial diamond dust sales internationally.

World News

There is a new Diamond Kingmaker, and it is called "Origin" : A Letter from AWDC CEO Ari Epstein

This last year in the diamond industry was not what one would consider "normal". Standard business patterns disappeared, business relationships changed drastically, and traders adapted to new regulations and ways of trading. Many of us think we have seen all the possible changes one can be faced with in a year, but I believe this is just the beginning of a paradigm shift in our industry, where quality will be replaced by a new kingmaker: origin. Heraclitus said it best: “There is nothing permanent except change”.

Market AnalysisOpinion piece

De Beers and Botswana Government Minister Meet with GJEPC in India to Strengthen Trade Relations

According to the GJEPC on April 18, a group from De Beers Group and and the Republic of Botswana’s minister of minerals and energy Lefoko Maxwell Moagi visited the Bharat Diamond Bourse in Mumbai. The delegation met with members of the Gem and Jewellery Export Promotion Council to discuss strengthening diamond trade ties with India. Desipite recent ongoing negotitations between the mining giant and the Botswana government regarding the renewal of their decades-long collaboration, this public display of solidarity was quite noteworthy, potentially indicating some headway on the matter. 

Finance and TradeWorld News

108 Carat Fancy Intense Pink Diamond Discovered in Lesotho at SMD Kao Mine

Storm Mountain Diamonds announced yesterday the recovery of a rare fancy intense pink diamond weighing 108.39ct at its Kao mine in the Kingdom of Lesotho. The stone was discovered earlier this year on March 23rd, 2023.The exceptionally rare Type IIa gemstone is one of the largest pink diamonds in history to have been recovered.

Mining and ExplorationRough Market

NDC Debunks Common Myths in Diamond Industry: LGD’s Under Fire in Report

Natural Diamond Council, the authoritative resource on natural diamonds, has released its 2023 analytical report entitled, Diamond Facts: Addressing myths and misconceptions about the diamond industry. Through this report, the Natural Diamond Council (NDC) set out to address misinformation about both natural diamonds and laboratory-grown diamonds for industry players, retailers, and consumers alike.

In-depthSustainability

Mountain Province Diamonds Optimistic about Kelvin and Faraday Kimberlite Studies: Over 18 million Carats Present

Mountain Province Diamonds, a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories made their Q1 Reports for the spring season of 2023.

Mining and ExplorationRough Market

Lucapa Reports Record Numbers Once Again During Q1-2023

Angolan mining company Lucapa has posted their Q1 reports for this year with many positive highlights. At its Lulo operation, there has been a new record set in volumes mined, with an 11% increase in tonnage, resulting in over 591,00 tons processed, up from 533,000 tons processed at the same time last year. The mine also reported the recovery of a 150 carat Type IIa diamond and several fancy-colored stones - three diamonds, including two +100 carat diamonds, which will be held back from normal sale for a planned tender.

Market AnalysisRough Market

NAMDIA Establishes Formal Relations with Angolan State-Owned Companies ENDIAMA and SODIAM

The CEO of Namibia Desert Diamonds (NAMDIA) expressed interest to work with the Angolan diamond companies after a recent visit from the Angolan Minister of Mineral Resources, Petroleum and Gas, Dr Diamantino Pedro Azevedo, at the NAMDIA Headquarters. Their talks highlighted the potential Namibia and Angola has in promoting the region’s diamonds to generate even greater value for Namibia and Angola, both of which are alluvial-producing countries.

World NewsRough Market

Eternal Pink Expected to Break Records at Upcoming Sotheby’s Auction

The Eternal Pink, mined by De Beers at the Damtshaa mine in Botswana is expected to fetch more than $35 million at the upcoming Sotheby’s HK auction, potentially breaking records as the most expensive price per carat ever to come to market. The estimated price per carat for The Eternal Pink is $3.3 million, giving it a chance to challenge the record set by The Williamson Pink Star, which was sold at Sotheby’s Hong Kong in 2022 for $5.2 million per carat. That gem was bought by a private collector based in the US for $57.7 million.

Polished

WIJI Renews its Commitment to SDGs and Sustainability at Geneva’s Watches and Wonders

Cartier, delegated by Richemont, and Kering launched the Watch & Jewellery Initiative 2030 driven by a common conviction that the UN Sustainable Development Goals (SDGs) and aspirations for a sustainable industry can only be achieved through collaborative initiatives. The global initiative is open to all watch and jewellery players with a national or international footprint. It is committed to a common core of key sustainability goals in three areas: building climate resilience, preserving resources, and fostering inclusiveness.

SustainabilityRetail and Consumer ConfidenceWorld News

Botswana Government Announces 24% Stake Hold Investment in HB Antwerp

On 27 March, HB Antwerp officially opened the doors of HB Botswana, the company’s first branch outside Antwerp. During the inauguration ceremony, H.E. Dr. Mokgweetsi E.K. Masisi, President of Botswana, announced a strategic partnership between the Government of Botswana and HB Antwerp whereby the Government will invest in HB by acquiring a 24% equity stake in HB Antwerp.

PoliticsGradingWorld News

Dholakia Foundation Dinner Affirms Diamond Industry’s Commitment to UN SDG’s

Dholakia Foundation, philanthropic arm of Hari Krishna Exports Pvt. Ltd., has been granted special accreditation to participate in the UN World Water Conference 2023. To discuss further how to achieve SDG objectives and to honor current players who have contributed with notable efforts to such goals, the organization organized a gala dinner this weekend in New York.

SustainabilityWorld News

GEM Diamonds Remain Optimistic for 2023 Despite Share Prices Declining to Lowest Point Over Last Year

Clifford Elphick, CEO of GEM Diamonds said in an announcement on Thursday (March 16) that market volatility caused by the invasion of Ukraine by Russia contributed to a decline in diamond prices. GEM achieved an average selling price of $1,755 per carat compared to $1,835 per carat in 2021. Though he remains overall optimistic regarding the mine’s capacity to rebound during the 2023 fiscal year.

They reported a 31% decline in attributable profit for the 12 months ended December 12 of $10.2m compared to $14.8m in the previous financial year.

Rough MarketMining and Exploration

Petra Achieves $72.1 million in Sales in Fourth tender Cycle for FY 2023

Petra announces the results of Tender 4 of FY 2023, at which 505,398 carats were sold for a total of US$72.1 million from Petra’s South African operations.

This cycle includes a US$7 million Exceptional Stone2 from the Cullinan Mine and US$4.3 million of Finsch diamonds sold during H1 FY 2023, both of which were reported in our Interim Results announcement during February 2023. No sales for Williamson were recorded in this cycle given the operations at the mine are still suspended.

Rough MarketFinance and Trade

Burgundy Diamonds Acquires 100% of Artic Canadian’s Assets Including Ekati Mine

Australia-based Burgundy Diamond Mines has signed a binding share purchase agreement to acquire Canada-based Artic Canadian’s (AC) assets, including the entirety of Ekati Diamond mine, for nearly $136m. AC owns 100% of all businesses, assets and other interests comprising the producing Ekati mine in Canada’s Northwest Territories and expects the sale to result in a significant recapitalization of the firm and allow for continued operations for the Ekati Diamond Mine, which has been in production for nearly 25 years.

In-depthRough Market

DeBeers Posts $495 Million Earnings Rough Diamond Sales in Cycle 2 - 2023

De Beers Group yesterday announced the value of rough diamond sales for the second sales cycle of 2023. The mining giant sold $495 million in rough stones. There was a noticeable year-over-year drop in sales when compared with 2022- Cycle 2, where the company sold over $652 million, a 24% fall. Sales were 9% higher than $454 million registered for the preceding first Sight of 2023.

Market AnalysisRough Market

Snap Lake Mine Enters Final Stages of Closure

De Beers’ Snap Lake diamond mine, Canada's first fully underground mine located in the Northwest Territory, is “entering the final stages of active closure” ahead of a switch to long-term monitoring. This will represent the final stages of shut down since it was decided by the company to cease operations in 2015.

Mining and Exploration

Debswana and Huawei Unveil the World’s First 5G Mine

Debswana and Chinese tech giant Huawei at the Mobile World Congress Trade Show this week announced plans for the unveiling of "the world's first 5G-oriented smart diamond mine project".
The 5G network allows cutting-edge technologies like autonomous driving and enables more intelligent digital transformation of the mining industry in the years to come.

Mining and ExplorationTechnology

Angola Plans to Offer Tax Incentives to Attract Investment in Diamond Cutting

Angolan Minister of Mineral Resources, Oil and Gas Diamantino Azevedo has announced that the country intends to create tax incentives to attract more investors to the diamond-cutting sector.
The announcement was made over the weekend by the minister at the inauguration of the fifth diamond-cutting factory at Saurimo Diamond Development Park in the Lunda Sul province.

World News

Homestead Diamonds Recovers Type-IIa 13-carat Pink Diamond at Samanda Mine (South Africa)

Homestead Diamonds has recovered a rare 13-carat pink diamond from its bulk sampling operation on the Samada kimberlite pipe in the Free state province of South Africa. The 13.33-carat Pink is a Type IIa diamond and is one of several exceptional fancy colour stones recovered since the commencement of the bulk sampling programme in 2020.

Rough MarketSustainabilityMining and Exploration

Rio Tinto Invests $40 Million into Underground Mining Operation at Diavik

Rio Tinto has made $40 million investment in the first phase of underground mining below the existing A21 open pit at its Diavik Diamond Mine which started commercial production in 2018 in the Northwest Territories of Canada. The Diavik mine, Canada’s largest mine produces on the order of 6.5 million carats (+/-) of rough diamonds per year and has unearthed more than 100 million carats since its opening.

Rough MarketMining and Exploration

Lucara Underground Mine Expansion Progresses at Karowe Mine with Anticipated Full Production by 2026

Lucara Diamond has published an updated report on the progress of its underground expansion project at Karowe diamond mine in Botswana.

The expansion will extend the life of the mine to at least 2040 and contribute $4 billion in additional revenues. Mine ramp up is expected in 2026 with full production from underground to be reached in the second half of that year.

Mining and ExplorationRough Market

150 Carat Diamond Recovered by Lucapa in Angola

Lucapa Diamond Company Limited together with Lulo partners, Endiama and Rosas & Petalas, have announced today the recovery of a 150-carat white Type IIa diamond from the Lulo Alluvial Mine in Angola. This stone represents the the 36th +100-carat diamond recovered at Lulo. The 150 carat diamond was recovered from Mining Block 28 (“MB28”) and is the fifth +100 carat diamond recovered from that particular mining block.

Rough Market

SRK Joins RJC Task Force to Tackle SDG's for Diamond Sector

Large diamond player Shree Ramkrishna Exports (SRK), has attained the Membership of the Sustainable Development Goals (SDG) and announced that the company will be joining the Task Force of the Responsible Jewellery Council (RJC).

The Task Force is a global collaborative effort to develop a systemic risk management framework that can reduce socio-economic inequalities. RJC Members commit to and are independently audited against the RJC Code of Practices – an international standard on responsible business practices for diamonds, gold and platinum group metals.

World News

Petra Posts Interim results for the 6-Months Ending 31 Dec 2022

(PETRA PRESS RELEASE): Petra Diamonds Limited announces its unaudited interim results for the six months ended 31 December 2022.

Richard Duffy, Chief Executive Officer at Petra Diamonds commented:

Rough MarketIn-depth

Botswana Pressure Continues: DeBeers Confident Negotiations Will Come to Resolution

Botswana's President Mokgweetsi Masisi last week Sunday warned that his country may sever ties with diamond giant De Beers if talks to renegotiate a sales deal prove unfavorable to his government.

World News

Arctic Canadian, Taché & Samir Gems Work Responsibly with Largest Fancy Vivid Yellow Diamond Ever Discovered in Canada Making History in the Process

[A DIAMOND LOUPE EXCLUSIVE STORY] - It was only just last September that Canadian mining company Arctic Canadian (AC) announced the recovery of a yellow diamond weighing an impressive 71.26 carats. The rough octahedron gem is currently the largest known fancy vivid yellow diamond ever discovered in Canada.

Rough MarketMining and ExplorationWorld News