Company is cutting its output to 28-31 m carats, compared to initial guidance of 34 m carats.

It involves selling its assets for about $177 million, which could pave the way to restart its idled Ekati mine.

Angola’s Sociedade Mineira de Catoca, which operates the namesake diamond mine in the country, cited weak demand.

Russia, Congo and Botswana combined have the lion's share of the world’s 1.1 billion million carats in reserves.

It's the 15th diamond over 100 carat recovered to date from the prolific Lulo mine.

The world’s top diamond producer by output saw sales dive 95% in April compared to the same month of 2019.