De Beers has made one of the deepest ever cuts to its group of handpicked diamond buyers as the former monopoly grapples with a prolonged crisis roiling the industry, people with knowledge of the matter said. https://t.co/uzQd0yM6j5 ...

Botswana has long been one of the world's most diamond dependent economies. But as global demand for diamonds softens, the country is accelerating efforts to diversify its mining sector and build a broader minerals base. I spoke with Botswana's Minister of Minerals and Energy, Bogolo Kenewendo about the country's pivot towards a more diversified minerals output.Botswana's mining industry has largely been about the diamonds. Even the focus of our legislation has largely been how do we stimulate beneficiation ...

The Collapse Of Lugano Diamonds And How It Tarnished Compass DiversifiedRead more: https://t.co/rj0QSRNLms https://t.co/xk7bS1SK8c ...

The Collapse Of Lugano Diamonds And How It Tarnished Compass Diversified https://t.co/rj0QSROjc0 (📸: Ethan Pines for Forbes) https://t.co/cjAf4yGzve ...

The Collapse Of Lugano Diamonds And How It Tarnished Compass DiversifiedRead more: https://t.co/rj0QSRNLms https://t.co/CUlhB07k6h ...

Botswana plans to raise taxes to offset a slump in diamond revenue https://t.co/vGaTnAJKf9 ...

The Collapse Of Lugano Diamonds And How It Tarnished Compass Diversified https://t.co/rj0QSROjc0 (📸: Ethan Pines for Forbes) https://t.co/aNgg4jw8Jr ...

Core Viewpoint - De Beers has cut rough diamond prices for the first time since December 2024, responding to declining demand, the rise of lab-grown diamonds, and trade disruptions affecting the global diamond market [1][4]. Group 1: Price Cuts and Sales - De Beers implemented price cuts on rough stones weighing more than three-quarters of a carat during its first regular sale of the year [2][9]. - The exact size of the price reductions remains unclear due to changes in billing and the composition of diamond boxes, complicating direct price comparisons [4]. Group 2: Market Conditions - The global diamond industry is experiencing one of its worst downturns in decades, with demand and prices for natural stones significantly declining from 2023 through 2025 [6]. - The rapid rise of lab-grown diamonds has led to a collapse in their prices, allowing them to capture market share, especially in the bridal segment, and undercut natural diamonds [8]. Group 3: Geopolitical and Economic Factors - China's weakening economy and declining marriage rates have negatively impacted demand for diamond jewelry, turning it from a growth engine to a drag on the industry [9]. - Geopolitical factors, including tighter sanctions on Russian diamonds and increased tariffs on Indian imports, have created additional challenges for the diamond supply chain [10]. - The US is the largest market for India's diamond industry, which processes approximately 90% of the world's diamonds by volume; however, higher tariffs have led to a significant drop in diamond exports from India to the US, with reports indicating a reduction of more than half [11].

Core Viewpoint - Anglo American Plc's unit is expanding its retail presence in India by opening its fifth and largest 'Forevermark' store in Mumbai, with plans to reach 25 outlets nationwide by the end of 2026 [1] Group 1: Expansion Plans - The new store in Mumbai is part of a broader strategy to increase the number of 'Forevermark' outlets in India [1] - The company aims to have a total of 25 outlets across the country by the end of 2026 [1] Group 2: Market Demand - Demand for 'Forevermark' products in India has been growing at an annual rate in "double-digits" over the last four years [1] - The CEO expressed confidence that this demand growth will continue into 2026 [1]

Botswana President Boko reiterated a plan to take control of De Beers, rebuffing a warning from the IMF that the diamond market’s prolonged slump makes it a risky undertaking https://t.co/AXnm2Dnsok ...