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De Beers
De Beers Slashes Output Amid Diamond Glut
DeBeers’ production dropped in the third quarter as the miner responded to a declinein rough demand that has left it with an inflated stockpile of diamonds. Outputfell 14% to 7.4 million carats for the period amid planned mine...
Mining Oct 22, 2019 Rapaport News
Large Canadian rough diamond in palm of hand, GSS
Diamond Glut Prompts De Beers to Slash Production
De Beers has lowered its production forecast for this year,noting that weakness in the diamond trade negatively affected itsperformance in the second quarter.Sales volume slumped 10% to 9 million carats in the threemonths ending June 30 due...
Mining Jul 18, 2019 Rapaport News
Siba Diamond
118ct. Yellow Smashes Estimate at Christie’s
A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie’s Geneva auction Wednesday. The cushion brilliant-cut, 118.05-carat, fancy-yellow,VS2-clarity stone fetched $7.1 million, or $60,000 per...
Polished Markets May 16, 2019 Rapaport News
De Beers Namibia
De Beers to Build $468M Diamond-Mining Ship
De Beers will increase production at Debmarine Namibia by 500,000 carats per year through the construction of a new diamond-recovery vessel, it said Thursday. The ship, the seventh in De Beers’ fleet, will increase annual output from the...
Mining May 16, 2019 Rapaport News
Petra Varda Shine 150
Petra Adds Ex-De Beers Exec to Board
Petra Diamonds has appointed former De Beers executive VardaShine as a non-executive director in line with a plan to refresh its leadership,the miner said Monday. Shine was CEO of the Diamond Trading Company — now DeBeers Global Sightholder...
Mining Oct 29, 2018 Rapaport News
De Beers 600
Higher Costs Dent De Beers Earnings
De Beers’ underlying earnings fell in the first half due to higher costs, even as the company maintained an upbeat forecast for the rest of the year.“The outlook for 2018 global consumer demand remains positive in most...
Mining Jul 26, 2018 Rapaport News
De Beers 150
De Beers Sales Volume Rises in Positive Market
De Beers’ sales volume and production grew sharply in thesecond quarter amid strong trading conditions, the miner’s parent companyreported Thursday. Rough-diamond sales rose 69% to 10 million carats during thethree months ending June 30,...
Mining Jul 19, 2018 Rapaport News
De Beers Botswana 150
De Beers, Botswana Prep for New Sales Deal
Botswana once again finds itself at a crossroads. The sparsely populated,landlocked country is in a constant battle to ensure the longevity of itsdiamond industry.Recognizing that diamond mining will not last forever, thegovernment’s beneficiation program has sought to establish...
Mining Jul 09, 2018 Avi Krawitz
De Beers Orapa Mine
De Beers Raises Output in Healthy Market
De Beers’ production grew during the first quarter as the company reached full capacity at its Gahcho Kué mine in Canadaand increased output in Botswana. The miner’s global production jumped 15% year on year to 8.5million carats...
Mining Apr 24, 2018 Rapaport News
De Beers Earnings Fall 150
De Beers Production to Peak in 2018
De Beers expects its production to hit a high point in 2018 as anumber of its mines approach the end of their life span, CEO BruceCleaver told Rapaport News. The company is planning production of 34 million to 36million carats in 2018,...
Mining Feb 22, 2018 Joshua Freedman
Bull bear stocks
Five Takeaways from the Stock Market in 2017
In a year of soaring stock prices, US retail shares largely underperformed in 2017 as consumers (and investors) abandoned traditional shopping channels in favor of e-commerce platforms. As a result, familiar names such as J.C. Penney, Macy’s and Signet Jewelers slipped...
Retail Jan 01, 2018 Joshua Freedman
Neil Ventura 3
De Beers Names New Strategy Chief
De Beers has appointed Neil Ventura as vice president of strategy and innovation, following the departure of Gareth Mostyn in October. Ventura (pictured, left), who headed the miner’s rough auction business for the past decade,...
Mining Dec 07, 2017 Rapaport News
De Beers Voorspoed mine
De Beers Plans to Sell South Africa Mine
De Beers is looking for offers for its Voorspoed diamond mine inSouth Africa, saying a lower-cost operatorwould have a better chance of maximizing value at the asset. An operating model that is different from De Beers’ could helpextend the...
Mining Nov 29, 2017 Rapaport News
Gareth Mostyn
Strategy Chief Gareth Mostyn to Leave De Beers
Gareth Mostyn, executivehead of strategy and corporate affairs at De Beers, will leave thecompany in early 2018 to become chief finance and operations officer of theChurch of England. Previously chief financialofficer at De Beers, Mostyn (pictured) took over his...
Mining Oct 25, 2017 Rapaport News
De Beers Sorting
De Beers Sees Sales Volume Rise
De Beers’ sales volume and production jumped in the thirdquarter as the market stabilized and due to the contribution of the recently launched Gahcho Kué mine in Canada.Rough-diamond sales grew 21% to 6.9 million carats in thethree months...
Mining Oct 25, 2017 Rapaport News
De Beers Orapa mine
Weaker Product Mix Dents De Beers Sales
De Beers’ revenue fell in the first half of 2017 asrestocking by Indian manufacturers resulted in the miner selling a greaterproportion of lower-value goods than a year ago.Total revenue declined 4% to $3.13 billion, withrough-diamond sales down 6.5% to $2.9 billion,...
Mining Jul 27, 2017 Rapaport News
De Beers Jwaneng truck
De Beers Sees Production, Sales Volume Jump
De Beers reported a spike in rough diamond production and sales during the second quarter, noting stable trading conditions and an increased contribution from its recently launched Gahcho Kué mine in Canada.Output across De Beers’ four...
Rough Markets Jul 20, 2017 Rapaport News
Stuart Chambers Anglo American
Mining Outsider to Chair Anglo American
Anglo American, the parent company of De Beers, hasappointed industry outsider Stuart Chambers as chairman, the company announcedWednesday.Chambers is a former chairman of UK-based technology groupARM Holdings and consumer-packaging firm Rexam, and has also served as anon-executive...
Mining Jun 08, 2017 Rapaport News
De Beers Diamond Jewellers
Will Retail Help De Beers ‘Build Forever’?
Taking control of the De Beers Diamond Jewellers (DBDJ) retail operation from LVMH has completed De Beers transformation from a mining company into a diamond luxury group.The acquisition means that not only is De Beers effectively spread...
Retail Mar 23, 2017 Avi Krawitz
Anil Agarwal
Agarwal to Buy $2.5B Stake in Anglo American
Shares in Anglo American rose 9 percent on Thursday after Indian billionaire Anil Agarwal announced his intention to invest $2.45 billion (GBP 2 billion) in the mining conglomerate.The investment would be made through Volcan Investments, Agarwal’s holding...
Mining Mar 16, 2017 Rapaport News
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