Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
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![De Beers Group mined 6.4 million carats of diamonds in the second quarter of 2024, down from 7.6 million in the same period last year. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) De Beers rough diamond display](https://uploads.nationaljeweler.com/uploads/80cd02b1c8384f4b2efda0bcdf6a75e1.jpg)
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
![This 835-carat emerald is one of the lots that sold in Grizzly Mining’s July auction. Grizzly emerald](https://uploads.nationaljeweler.com/uploads/22a6ebeec561d9b79971082ff365c93e.jpg)
The miner said an 835-carat emerald saw “stiff competition” in its July sale.
![The recently completed solar power plant at Rio Tinto’s Diavik Diamond Mine. The mine, which is expected to cease production in 2026, saw production drop 28 percent in Q2 and 26 percent year-to-date. (Photo courtesy of Rio Tinto) Diavik Diamond Mine solar power plant](https://uploads.nationaljeweler.com/uploads/27d6f04b3267a4b01b571f8da2da7985.jpg)
The company’s sole remaining diamond operation, Diavik, produced 702,000 carats of diamonds, down from 970,000 a year ago.
Lauren Freeman, a Ph.D. with more than 25 years of experience in mining, has joined the company.
![Dev Shetty has stepped down as CEO of Fura Gems. The former Gemfields executive joined the company in 2017. Former Fura Gems CEO Dev Shetty](https://uploads.nationaljeweler.com/uploads/11d061e6bf1c406d95cd759af852bcae.jpg)
He’s leaving the colored gemstone miner to pursue other opportunities, the company said Friday.
![Rough diamonds from De Beers’ Gahcho Kue diamond mine in Canada. The company’s most recent round of rough diamond sales brought in $315 million, down by double-digits both year-over-year and cycle-to-cycle. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) Stock image of rough diamonds from De Beers Gahcho Kue diamond mine](https://uploads.nationaljeweler.com/uploads/e323e78dbd5f06073d9f83e4ad1a03d8.jpg)
The company sold $315 million in rough in the fifth sales cycle of the year, down from $456 million in the same period last year.
![Lucapa’s decision to shed its stake in the Mothae Diamond Mine in Lesotho is part of a strategy to streamline its portfolio and focus on developing assets in Angola and Australia. Lesotho Mothae mine](https://uploads.nationaljeweler.com/uploads/6493a245184a52250451ae82fa303018.jpg)
The Australian miner has signed over its 70 percent share in the diamond deposit to Lesotho company Lephema Executive Transport.
![Gemfields latest mixed-quality ruby auction brought in $68.7 million.
Gemfields ruby](https://uploads.nationaljeweler.com/uploads/765fc07e36b68ece84363ed613919fe4.jpg)
The sale marks the miner’s 10th anniversary of its first auction of rubies from the Montepuez Ruby Mine in Mozambique.
![Al Cook became CEO of De Beers Group in early 2023, succeeding longtime De Beers executive Bruce Cleaver. During an interview at JCK Las Vegas, he discussed the timeline for Anglo American’s sale or demerger of De Beers, the new plan to promote natural diamonds with Signet, and its future plans for the Lightbox factory in Oregon. De Beers CEO Al Cook](https://uploads.nationaljeweler.com/uploads/5b804370945780be5f88b012a47a4753.jpg)
The De Beers CEO discussed the Anglo American situation, natural diamond marketing, and why the future of lab-grown diamonds is technology.
![Bruce Cleaver, who led De Beers from 2016 until 2023, has joined Gemfields’ board as chair, effective July 1. Bruce Cleaver](https://uploads.nationaljeweler.com/uploads/32eb279b9de0116009abeedee8977a23.jpg)
The former De Beers CEO will step into the role next month.
![Elephants wade in Botswana’s Okavango Delta in the early morning. Ecotourism in the Delta is one area in which government officials see potential for job growth and revenue generation. (Photo by Chris Boyes/National Geographic Okavango Wilderness Project) Elephants wading in the Okavango Delta in Botswana](https://uploads.nationaljeweler.com/uploads/c1cb4f91dc45fd9141a41f942a87b1d4.jpg)
From moringa to ecotourism in the Okavango Delta, the country and its leaders are exploring how Botswana can diversify its economy.
![Gemfields reported strong results at its recent emerald auction, including a new record price-per-carat average. Gemfields rough emerald](https://uploads.nationaljeweler.com/uploads/de58761c130b692fcf79468c8709ec49.jpg)
Its May sale of gemstones from the Kagem mine in Zambia was strong despite a softening market.
![De Beers Group’s latest round of rough diamond sales totaled $380 million, down 21 percent year-over-year. The company expects natural diamond sales to remain challenging in the near future but anticipates an uptick in engagements in the coming years. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) Stock image of a diamond engagement ring](https://uploads.nationaljeweler.com/uploads/8095725f21e3c25f478154b7f55085d8.jpg)
The company sold $380 million in rough diamonds, compared with $479 million in the same period last year.
![Anglo American plc confirmed Tuesday that diamond mining company De Beers will be “divested or demerged” as part of a broader restructuring designed to simplify its portfolio. Rough diamonds from De Beers](https://uploads.nationaljeweler.com/uploads/6c79b5a0fbaa0238811aa2585ba402fa.jpg)
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
![Miner Lucapa Diamond Co. is looking to sell its 70 percent stake in the Mothae Diamond Mine in Lesotho, a small, landlocked kingdom encircled by South Africa. Mothae Diamond Mine Lesotho](https://uploads.nationaljeweler.com/uploads/7482d48f6d1e86b17ae2975fd352c388.jpg)
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
![The De Beers Group Auctions headquarters will move from Singapore to Gaborone in Botswana, where De Beers’ sightholder sales have been held since 2013. De Beers polished in tweezers](https://uploads.nationaljeweler.com/uploads/745723e57d9ff0ced3c2365579e6fc40.jpg)
Sales will be paused while the relocation takes place over the next few months.
![Anglo American reportedly is shopping De Beers while the miner itself is being eyed as a potential acquisition target by BHP Group. BHP’s interests lie in Anglo America’s copper operations in South America. Pictured is De Beers’ Venetia mine in South Africa. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) De Beers Venetia diamond mine in South Africa](https://uploads.nationaljeweler.com/uploads/b057e29df1a30accbb5b2114d2806614.jpg)
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
![De Beers Group mined 6.9 million carats of diamond in the first quarter, down from 8.9 million in the same period last year. The company expects its annual output to be 3 million carats lower than originally forecast. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) Stock image of rough diamonds mined by De Beers](https://uploads.nationaljeweler.com/uploads/88fa0294dd796d49e669dd399890bc3b.jpg)
The announcement came as the company reported a 23 percent drop in production in Q1.
![Production fell 22 percent year-over-year to 740,000 carats in the first quarter at Rio Tinto’s Diavik Diamond Mine in Canada’s Northwest Territories. Aerial shot of the Diavik Diamond Mine in Canada’s Northwest Territories](https://uploads.nationaljeweler.com/uploads/8310f3d202a2d8a7341b06b4fa06354c.jpg)
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
![In the first tender of the year of Lulo diamonds, three diamonds totaling 361 carats sold for $10.5 million. The Type IIa diamonds weigh, from left to right, 203 carats, 116 carats, and 42 carats. 203-carat, 116-carat, and 42-carat diamond](https://uploads.nationaljeweler.com/uploads/cabd19169a0f6b933296a5faaaf70753.jpg)
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
![American Gem Society Conclave logo 2024](https://uploads.nationaljeweler.com/uploads/c0c54c1df9feb60a527bf269682fadef.jpg)
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
![De Beers Group’s CEO said Tuesday that diamond businesses are taking a “cautious” approach to purchasing amid economic uncertainty. The company’s most recent round of rough diamond sales totaled $445 million, down 18 percent when compared with the same period last year. Stock image of a polished diamond in tweezers](https://uploads.nationaljeweler.com/uploads/0cdd14f0e5fe5021fd9bba268fc8aae2.jpg)
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
![The 170-carat “Lulo Rose” diamond, right, and the 80-carat colorless diamond pictured beside it were recovered from Lucapa’s Lulo mine. The company, which got a new CEO late last year, recently announced changes to its board. Lucapa rough colorless and pink diamonds](https://uploads.nationaljeweler.com/uploads/80ded03049105a2f9c31fdd82b76bd28.jpg)
Stuart Brown, who was De Beers’ CFO and interim CEO, is now Lucapa’s independent non-executive chairman.
![The Natural Diamond Council has added 19 roleplay videos to its education platform. In this video, a sales associate shares some diamond facts and history with a jewelry store customer who is looking to buy herself a piece of diamond jewelry for her birthday. Natural Diamond Council roleplay training video](https://uploads.nationaljeweler.com/uploads/97047d8e79119574d4966ae1d93bcd96.jpg)
The Natural Diamond Council also has added its first non-mining member, the Okavango Diamond Company.