CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
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
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
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
Weekly QuizJul 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
