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De Beers Office in Botswana
De Beers Turns to Tech as Layoffs Loom
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....
Rough Markets Aug 03, 2020 Avi Krawitz
De Beers Sight Box
Challenges Persist as De Beers Sees Red
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...
Rough Markets Jul 30, 2020 Rapaport News
Rough diamonds
Petra Sells Botswana Business for $300K
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...
Rough Markets Jul 21, 2020 Rapaport News
De Beers.
Covid-19 Ravages De Beers Sales
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...
Mining Jul 16, 2020 Rapaport News
Alrosa rough diamonds
Buyers Snub De Beers and Alrosa over High Prices
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...
Rough Markets Jun 29, 2020 Joshua Freedman
Lucara Podcast
Eira Thomas Confident Lucara Can Navigate Crisis
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...
Mining Jun 22, 2020 Avi Krawitz
Rough diamonds in a loupe
De Beers Sight Opens with Viewings in Antwerp
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...
Rough Markets Jun 17, 2020 Joshua Freedman
De Beers sorting GSS
De Beers Offering Sight Goods Outside Botswana
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...
Rough Markets Jun 02, 2020 Joshua Freedman
Rough diamond in Kimberlite
De Beers Offers 100% Deferrals at May Sight
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...
Rough Markets Apr 30, 2020 Joshua Freedman
De Beers Podcast
Podcast: How the Pandemic Is Changing De Beers
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...
Marketing Apr 27, 2020 Rapaport News
De Beers Donation
De Beers Bolsters Coronavirus Aid Package
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,...
Mining Apr 21, 2020 Rapaport News
De Beers Jwaneng mine
De Beers Pauses Botswana Mining
De Beers’ mining operations in Botswana have been on hold for more than two weeks amid a national lockdown, the company told Rapaport News.Debswana, the company’s joint venture with the government, paused activities on April...
Mining Apr 19, 2020 Rapaport News
Jwaneng
De Beers Converting Facilities to Tackle Virus
De Beers is using its mining sites in Botswana and its technology production center in the UK to help the fight against COVID-19.Debswana, the company’s joint venture with Botswana, is making facilities available for the government to use...
Mining Apr 06, 2020 Rapaport News
Karowe
Lucara May Struggle to Hold Botswana Sales
The coronavirus outbreak has threatened Lucara Diamond Corp.’s ability to hold tenders in Botswana, and had a heavy negative effect on rough prices, the company said Tuesday.The Botswana government has given Lucara permission to hold...
Rough Markets Apr 01, 2020 Rapaport News
De Beers Orapa mine
Market Slump Prompts Botswana Downgrade
S&P Global Ratings has lowered Botswana’s credit rating, citing weaker diamond revenues because of the current global recession.The credit agency downgraded the country’s long-term sovereign credit rating to “BBB+” from “A-,” indicating...
Mining Mar 30, 2020 Rapaport News
Namdeb employee sorting through rough diamonds.
De Beers Cancels March-April Sight
De Beers has called off this week’s sight in Botswana, citing restrictions resulting from measures to contain the coronavirus.Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment...
Rough Markets Mar 30, 2020 Rapaport News
Rough diamond
De Beers Enables 100% Deferrals at March Sight
De Beers is allowing sightholders unlimited deferrals at its upcoming rough-diamond sale as manufacturing closures have obliterated demand, market sources told Rapaport News.The rare step follows the shutdown of the Surat polishing industry this week...
Rough Markets Mar 26, 2020 Joshua Freedman
De Beers Botswana
De Beers Sight Still On Despite Travel Ban
De Beers’ upcoming sight in Botswana will still take place despite the country’s ban on arrivals from the US, China, India and Belgium, the miner has confirmed.“While this is an extraordinary situation and COVID-19 has...
Rough Markets Mar 18, 2020 Joshua Freedman
Jwaneng
Botswana Mining Decline Hits GDP Growth
Botswana’s economic growth slowed last year due to lower rough production, further aggravated by weakness in its diamond-manufacturing sector, the nation’s central bank said last week.Gross domestic product (GDP) increased 3.7% in the 12 months...
Mining Mar 04, 2020 Rapaport News
De Beers
De Beers Sales Rise to Nine-Month High
De Beers’ January rough-diamond sales reached their highest level since last April as post-holiday stock replenishment boosted demand.Proceeds of $545 million at the first sales cycle of 2020 were 9% higher than a year ago, the miner...
Rough Markets Jan 29, 2020 Rapaport News
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