It provides a timeline for the implementation of new restrictions, but no details.
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The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.

India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.

Matthew Breen will take over as chief operating officer, succeeding Angela Biggs, the first woman to lead the mine.

The company attributed the drop to the ongoing transition at Venetia and planned maintenance at its diamond mines in Botswana.

The mining company said the event is the first of its kind in the world.

The company is pulling back on sales amid oversupply in the midstream and slumping diamond jewelry demand.

Lower quality and quantity drove the decision to withdraw the sale.
Chief Financial Officer Zara Boldt and Vice President of Technical Services John Armstrong will leave the company later this year.

The two have signed “heads of terms” for the tentative 10-year sales agreement they reached in June.

The two companies initially partnered during the pandemic and had just signed a 10-year sales agreement in November 2022.

The plea comes against a backdrop of declining demand and falling prices.

Economic slowdowns, geopolitical tensions, and the rising popularity of lab-grown diamonds are clouding the outlook for mined diamonds.

The ‘Fuli Cut’ is based on an antique cushion.

The company anticipates resuming exploration and mining operations and rehiring staff in 2025.

The company said operations have been on hold since January because the mine wasn’t meeting production expectations.

They were down 42 percent year-over-year and 10 percent month-over-month in August.

The retail offering, said to be the first of its kind, allows customers to follow a single rough diamond through the cutting process.

The funds will go toward direct assistance, providing essentials like food and fuel to those impacted.

Lucara said it’s the 20th stone weighing more than 100 carats the mine has produced this year.

Rio Tinto, De Beers and Burgundy all have mines in the Northwest Territories, where wildfires have forced mass evacuations.

The facility will have bi-facial panels, which generate energy from direct sunlight as well as the reflection from the snow.

The move comes after news surfaced that the Karowe mine’s underground expansion will take longer and cost more than expected.

The $2.2 billion expansion at the South African mine is expected to extend its life until at least 2046.