CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
SourcingOct 26, 2017
De Beers Considering Mine Closures in Namibia
Namdeb noted that satellite diamond mining operations Elizabeth Bay and Daberas are “well beyond their original planned life of mine.”
Kimberlite, the igneous rock in which diamonds are found, from a De Beers mine. The company released its Q3 production figures this week, while Namdeb responded to media reports about possible mine closures in Namibia.
London--Namdeb, the partnership between De Beers and Namibia, issued a statement Wednesday indicating that it is weighing diamond mine closures in the country, as the next few years are expected to remain challenging due to “subdued” economic growth worldwide.
Namdeb released the statement after The Namibian Sun quoted a union official as saying that De Beers would close four land mining sites in Namibia by 2022: Elizabeth Bay (closing at the end of 2018), Daberas (end of 2019), Sendelingsdrift (2020) and Southern Coastal (2022).
Namdeb does a combination of land and off-shore mining. Earlier this year, it launched what it said was the world’s largest and most advanced diamond exploration vessel, the $157 million mv SS Nujoma.
In its statement issued Wednesday, Namdeb did not confirm any of the closures but noted that its satellite mining operations, Elizabeth Bay and Daberas Mines, are “well beyond their original planned life of mine.”
“We are constantly investigating new mining opportunities; however, it is equally important that we plan responsibly for the possible closure of operations that reach the end of their economic life span,” Namdeb said. “The closure of any operation is always a last resort, and we are doing everything to operate economically, which includes seeking alternative ways of creating value.”
Regarding Southern Coastal, which is Namdeb’s core mining asset, the company said it is working on a “robust” plan for the next five years, which includes a significant increase in production next year.
Namdeb’s statement was issued the day after De Beers’s parent company Anglo American plc reported that diamond production has increased so far this year amid stable trading conditions.
In the third quarter ended Sept. 30, De Beers’s production totaled 9.2 million carats, up 46 percent from Q3 2016. Year-to-date, the company has mined 25.3 million carats, up from 19.6 million carats at this point last year, a 29 percent increase.
The principal drivers behind the increase were Debswana, the mines in Botswana that De Beers operates in partnership with the government there, and the ramp-up of production at the Gahcho Kué mine in Canada, which opened in September 2016.
Anglo hired Mostyn as head of corporate finance in 2008, and he moved over to De Beers in 2012 as chief financial officer. He
Editors' Picks
Sponsored by
also joined De Beers’s executive committee and its board.
He was promoted to his current role as executive head of strategy and corporate affairs last year.
Mostyn is leaving De Beers to become the chief finance and operations officer for the Church of England.
The company has not named a replacement.
He was promoted to his current role as executive head of strategy and corporate affairs last year.
Mostyn is leaving De Beers to become the chief finance and operations officer for the Church of England.
The company has not named a replacement.
More on Sourcing
The Latest
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
MajorsSep 23, 2026
Kay Jewelers’ New Campaign Goes ‘All In’ on LovePart of its brand relaunch, the marketing around the campaign includes a contest involving a jacket set with 550 diamonds.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
