The new vessel is expected to add about 500,000 carat a year of production capacity to Debmarine Namibia, a 50/50 joint venture between De Beers and the African nation's government.
De Beers Mining News
Mined diamonds are less carbon-intensive than man-made, but their producers should use more green energy, according to a study.
Production dropped 6% in the quarter.
Decision was made to give more artisanal and small-scale miners (ASM) the opportunity to benefit from the program, which helps them trace route of their diamonds throughout the supply chain.
Natural diamond supply is estimated to come off this year and continue to incrementally decline through at least 2021, which should be supportive of diamond prices and thus miners.
Iconic mines, including Ekati and Diavik are now old, tired and running out of diamonds; they will likely both close soon. So far, operations that were designed to replace them aren’t faring well either.
The Diamond Producers Association, which represents mining companies like De Beers, Rio Tinto and Alrosa, welcomed the FTC insistence that companies distinguish between diamonds that are mined and those that are made in laboratories.
The world's biggest producer of rough diamonds in carat terms raised $11.8m in its first New York diamond auction this year.
Alrosa will assess Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project.
Debswana lifted diamond output by 6% to a four-year high of 24.1 million carats in 2018.
Retail jewellery sales fell during the last quarter of 2018, while polished prices continued to decline into the beginning of 2019.
De Beers has invested in a synthetic diamond factory in the U.S. state of Oregon, which should produce more than half a million rough carats a year in 2020.
Copper production reached a five-year high, more than offsetting output declines at Minas Rio in Brazil and Kumba in South Africa.
Tiffany has begun tracing each of its individually registered diamonds (0.18 carats and larger) by a unique serial number.
The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012.
Lucara aims to recover between 300,000 and 330,000 carats from Karowe this year.
President and CEO Stuart Brown spent 19 years with De Beers.
The Hong Kong-based company's involvement will further extend the platform’s reach into the Asian diamond sector.
According to Bain & Co., diamond miners and retailers will face an Increasing influence of digital technologies, growing presence of lab-grown stones and shifting preferences of younger generations of consumers.
It would make them the first listed companies to mine there in that sector for two years, Mining Minister said.
Gahcho Kué is Canada’s newest diamond mine and the world’s largest in the last 14 years.
News flow out of the diamond industry in 2018 has been dominated by the progression of lab-created diamond production, distribution and pricing dynamics.
The world's largest diamond producer is said to have reduced prices for low-quality stones as much as 10 percent.
De Beers is famous for its tight control over the diamond market.
Diamcor Mining announced that following its previous release on the initial tender of 2,606.50 carats of rough diamonds, it delivered an additional 5,335.83 carats before the end of October.