Anjin ‘grabs most lucrative diamond claim’ in Marange – report

Anjin Investments has allegedly taken control of the most lucrative diamond claim in Marange from the state-owned Zimbabwe Consolidated Diamond Company (ZCDC). Anjin is a joint venture between China’s Anhui Foreign Economic Construction Company...

Today

Geneva court finds Israeli tycoon Steinmetz guilty sentencing to 5 years in jail

Israeli mining tycoon Beny Steinmetz was found guilty of bribing Guinea officials close to former president Lansana Conte, to give him access to an iron-ore mine for a mere US$200m, now valued at US$5bnb, a Geneva judge ruled, sentencing Steinmetz to...

Today

Geological exploration going on at Luaxe in Angola

Guided by Decree 192-A / 20 issued by the President of Angola on 23 July 2020, the local executive authorities gave their permission to go on with exploration work at the Luaxe Diamond Field to increase government revenues, create jobs and promote national...

Yesterday

Diamond industry, prices continue to strengthen – Lucapa

Lucapa Diamond, which mines in Angola and Lesotho, says the consumption and strong demand that saw the diamond industry begin its recovery in the third quarter of 2020 and during the festive period, has continued into 2021.

Yesterday

Botswana Diamonds raises £363k to fund exploration activities

Botswana Diamonds arranged a placing with existing and new investors to raise £363,000 through the issue of 60,5 million new ordinary shares for 0.6p each.

Yesterday

Diamonds Need Some New Best Friends

22 may 2020

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Image credit: RJA1988 (Pixabay)

(bloomberg.com) - It’s looking decidedly somber out there for the world’s favorite sparkly stone. Diamonds were ailing even before the coronavirus came along. Now, weeks into lockdowns in the U.S. and elsewhere, all but the largest diggers, polishers and retailers are struggling for cash. Unable to sell its stones, Dominion Diamond Mines, the miner that sold luxury brand Harry Winston to Swatch Group AG in 2013, filed for insolvency protection in late April. Anglo American Plc’s De Beers cut 2020 production guidance by a fifth in the same period, in line with demand. To secure their future, diamond giants may need a rebranding akin to the storytelling feat pulled off by Harry Oppenheimer, the late De Beers chairman who cultivated the engagement ring to overcome a slump after the Great Depression. In so doing, he forged a tradition that fueled sales for decades. Today, a refreshed myth-making effort could target the post-pandemic concerns of millennial consumers: marketing the diamond as a store of value in volatile times comparable to art, which is also authentic, traceable and sustainable.