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De Beers Cuts Clients, Keeps More Goods in Africa
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De Beers has reduced its sightholder list in a revamp of its supply system, with more goods expected to go to pure-play manufacturers, especially those with Africa-based factories.The new list features fewer diamond dealers than before, as De Beers...
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Rough Markets
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Jan 17, 2021
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Joshua Freedman
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Lucara Receives 25-Year Karowe License
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The Botswana government has allowed Lucara Diamond Corp. to mine at the Karowe deposit until 2046, enabling it to pursue its plans to launch underground operations.The country’s minister of mineral resources, green technology and energy security...
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Mining
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Jan 05, 2021
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Rapaport News
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Top Miners Release Dates of 2021 Rough Sales
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De Beers, Alrosa and Rio Tinto have published their schedules for next year’s contract sales, which account for the bulk of the miners’ rough supply.De Beers will continue its format of holding 10 sights...
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Rough Markets
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Dec 28, 2020
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Rapaport News
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De Beers Trims Production Plan for Coming Years
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De Beers has reduced its production plan for the next two years, aiming to avoid releasing too much rough into the market as the diamond sector attempts to exit the crisis that dominated 2020.The...
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Mining
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Dec 13, 2020
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Rapaport News
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Botswana Ready to Leverage Its Diamond Supply
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The December edition of the Rapaport Research Report, published on Monday, presents an in-depth analysis of how Covid-19 has impacted Botswana’s diamond industry and, by extension, its economy. As the poster child for the diamonds-do-good story,...
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Rough Markets
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Dec 08, 2020
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Avi Krawitz
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De Beers Planning Return of Botswana Sights
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De Beers intends to reintroduce sights in Botswana in the first quarter of 2021, enabling a more efficient sales process following months of viewings in scattered locations.The miner plans to offer sightholders the flexibility to attend sales in Gaborone or continue inspecting...
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Rough Markets
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Dec 06, 2020
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Joshua Freedman, Avi Krawitz
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De Beers Aims for Full Traceability by 2030
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De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will “scale” programs that help identify...
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Retail
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Nov 30, 2020
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Rapaport News
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De Beers to Stop Production at Botswana Mine
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Debswana, De Beers’ joint venture with Botswana, will pause mining at the Damtshaa deposit for an indefinite period, citing a lack of financial viability given market conditions.“In the current environment, the marginal cash flow produced...
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Mining
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Nov 11, 2020
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Rapaport News
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Diamond Rebound to Boost Botswana Growth
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Botswana’s government expects the country’s economy to return to growth next year on the back of a recovery in the diamond sector.The nation’s gross domestic product (GDP) will increase 7.7% in 2021, Thapelo Matsheka, minister of finance and...
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Mining
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Oct 21, 2020
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Rapaport News
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De Beers Turns to Tech as Layoffs Loom
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De Beers is no stranger to changing strategy. Throughout its 130-plus-year history, the company has often adjusted its approach, sometimes with just a few tweaks, and on other occasions with radical consequences for the diamond market....
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Rough Markets
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Aug 03, 2020
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Avi Krawitz
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Challenges Persist as De Beers Sees Red
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De Beers suffered heavy losses in the first half of the year due to Covid-19, and cautioned that substantial challenges would remain for the diamond market.The diamond miner fell into the red for the...
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Rough Markets
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Jul 30, 2020
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Rapaport News
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Petra Sells Botswana Business for $300K
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Petra Diamonds has sold three exploration projects to Botswana Diamonds for $300,000, the mining companies announced Monday.The transaction includes Petra’s KX36 project, a kimberlite in Botswana the miner discovered in 2010, as well as two other...
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Rough Markets
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Jul 21, 2020
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Rapaport News
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Covid-19 Ravages De Beers Sales
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De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.“Demand for rough diamonds was significantly impacted by a combination of Covid-19 restrictions...
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Mining
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Jul 16, 2020
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Rapaport News
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Buyers Snub De Beers and Alrosa over High Prices
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De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers.“[The major miners] want to hold on to prices, so people don’t see any...
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Rough Markets
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Jun 29, 2020
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Joshua Freedman
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Eira Thomas Confident Lucara Can Navigate Crisis
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The diamond mining sector has been hard hit by the coronavirus crisis. There has been a significant drop in demand — when rough sales could even take place — forcing miners to reconsider their production programs...
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Mining
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Jun 22, 2020
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Avi Krawitz
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De Beers Sight Opens with Viewings in Antwerp
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De Beers has been holding sight viewings in Antwerp this week as part of its move to offer goods in locations other than Botswana due to the coronavirus.The company might also enable customers to view rough in Hong Kong...
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Rough Markets
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Jun 17, 2020
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Joshua Freedman
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De Beers Offering Sight Goods Outside Botswana
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De Beers will hold viewings of sight goods in locations other than Botswana, enabling customers to access the company’s rough amid travel restrictions.The miner will introduce the provision in “relevant diamond centers” for the upcoming...
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Rough Markets
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Jun 02, 2020
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Joshua Freedman
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De Beers Offers 100% Deferrals at May Sight
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De Beers is allowing rough-diamond customers to skip all purchases at next week’s sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed...
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Rough Markets
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Apr 30, 2020
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Joshua Freedman
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Podcast: How the Pandemic Is Changing De Beers
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The diamond industry will need to tweak its messaging to emphasize the values its product and brands represent, De Beers executives stressed in the Rapaport Diamond Podcast. Rapaport Senior Analyst Avi Krawitz spoke with...
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Marketing
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Apr 27, 2020
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Rapaport News
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De Beers Bolsters Coronavirus Aid Package
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De Beers and its parent company Anglo American have contributed an additional $3 million in aid to help mitigate the economic impact of COVID-19.The donation, announced Monday, will be split between two emergency finance bodies in South Africa,...
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Mining
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Apr 21, 2020
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Rapaport News
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