Manufacturers
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Feb- 2025 -25 February
Republic of Botswana and De Beers Group confirm diamond partnership
The Government of the Republic of Botswana and De Beers Group have announced that the two partners have now signed the formal new agreements for the 50:50 Debswana mining joint venture. The parties have agreed a 10-year Sales Agreement, which may be extended by a further five years, and a…
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24 February
De Beers launches DiamondProof in stores
De Beers has announced the launch of its diamond verification device, DiamondProof, in select retail stores. The device, which can distinguish natural diamonds from non-natural diamonds, will also be available in a number of independent retail outlets. The first DiamondProof prototype instrument was unveiled at the JCK show in Las…
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21 February
De Beers revenues plummet 23% in FY24
De Beers has reported a 23% reduction in total revenues to $3.3bn (ยฃ2.61bn) year-on-year, primarily due to a 25% reduction in rough diamond sales to $2.7 billion (ยฃ2.13bn). The consequential impact of lower sales volumes, a lower average price index and higher unit costs resulted in an underlying EBITDA of…
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19 February
Cรฉline Assimon steps down as De Beers CEO
De Beers CEO Cรฉline Assimon has stepped down from her role after nearly five years. Assimon joined De Beers in September 2020 and succeeded former CEO Franรงois Delage. A year later,she was appointed as the head of both De Beers Jewellers and De Beers Forevermark. Prior to joining De Beers,…
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17 February
Richard Duffy steps down as Petra Diamonds CEO
Petra Diamonds has announced that Richard Duffy has resigned as CEO and director of the company by mutual agreement and with immediate effect. Vivek Gadodia and Juan Kemp have been appointed as joint interim chief executive officers. Gadodia will have responsibility for all group corporate matters and Kemp will have…
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14 February
January diamond prices drop in slow market
The diamond market was slow in January, with mixed reports about holiday sales, according to Rapaportโs RapNet Diamond Index. Diamond prices declined, with some improvement in 0.30- to 0.50-carat, and 1 carat diamonds โ reflecting round D to F, IF to VVS2 goods, which saw a 0.4%, 0.6% and 2.3%…
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11 February
De Beers lowers production guidance amid challenging trading conditions
De Beers Group has lowered its production guidance for 2025 to 20โ23 million carats (previously 30-33 million carats), reflecting the challenging rough diamond trading conditions. Although rough diamond sightholder sales for the quarter improved to 4.6-million carats for $543m (ยฃ437.1m) in revenue, compared with the 2.8-million carats sold for $230m…
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4 February
De Beers and Botswana secure rough diamond sales agreement
The Government of the Republic of Botswana (GRB) and De Beers Group have agreed a deal establishing a new sales agreement for Debswanaโs rough diamond production. Alongside this, the deal has extended Debswanaโs mining licences in the country beyond 2029. This development is in alignment with the heads of terms…
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Jan- 2025 -14 January
HS Walsh and Sons awarded Royal Warrant
HS Walsh and Sons, a supplier of horological tools and equipment, has been awarded a Royal Warrant. The business was first granted a Royal Warrant from Queen Elizabeth II in 2016 which was renewed in 2021. With the ascendance of King Charles III the company sought to obtain his appointment…
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Dec- 2024 -23 December
Petra Diamonds revenues drop 7% despite 17% rise in volumes
Petra Diamonds has reported a 7% drop in tender three FY 2025 sales to $71m (ยฃ56.6m) despite selling 700,803 carats, up 17% compared with the combined 600,161 carats sold in tenders one and two. The group stated that its sales were affected by a continued weak market across most size…
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