Diamond

The government of Botswana has set an ambitious end-of-October deadline to secure majority ownership of De Beers, a move President Duma Boko says is critical for the country’s economic sovereignty as diamond markets remain under strain. Speaking to Bloomberg Television in New York, Boko confirmed that his government is in …

Long celebrated as Africa’s diamond success story,Botswana is facing its toughest economic challenge in decades. The rise of cheaper, lab-grown gems is eroding demand for natural diamonds, threatening a sector that once accounted for 80% of the country’s exports and a third of government revenue. Across the country, the slowdown …

Anglo American is pushing ahead with plans to divest its stake in De Beers, despite growing confidence in the diamond giant’s potential to rebound strongly as global markets recover. The diversified mining group has confirmed that two exit options are being pursued, a preferred trade sale and alternatively, an initial …

By : Kevin Dube Botswana is making an audacious play to seize control of De Beers, sending ripples through the global diamond industry as mining giant Anglo American prepares to divest from the historic gem producer. The southern African nation, already the wellspring of 70% of De Beers’ diamonds, is …

Botswana, a nation whose glittering fortunes have long been synonymous with diamonds, is facing a stark warning that the very bedrock of its prosperity could become its Achilles’ heel. The country’s Financial Stability Council (FSC) has issued a fresh and urgent alert, painting a worrying picture of an economy increasingly …

Las Vegas, USA— In a dazzling display of national resolve, Botswana recently took center stage at the JCK Las Vegas Show, the global epicentre of the diamond industry. Led by the impassioned Duma Boko and supported by a formidable delegation, including Minister of Minerals and Energy, Bogolo Kenewendo, the southern African nation …

For decades, the diamond industry has sparkled with an aura of timeless romance and unyielding value. But beneath the polished surface, deep fissures are appearing, leading some to declare a rapid and unprecedented collapse of an industry once synonymous with enduring luxury. While some analysts temper the alarm, the sheer …

Diamond mining heavyweight Lucara Diamond, listed on both the Toronto and Botswana stock exchanges, has sent a chill through the market, openly questioning its ability to survive as a going concern. The stark admission comes on the heels of dwindling diamond sales and an increasing reliance on limited financial lifelines, …

The glittering facade of Botswana’s diamond industry is showing significant cracks as a potent cocktail of weakened global demand and hefty new tariffs from the United States casts a long shadow over the nation’s primary economic driver. Recent figures paint a stark picture, revealing a dramatic slump in production and …

Botswana, the world’s diamond powerhouse, is embarking on a bold strategy to win over the hearts and wallets of affluent young Americans, aiming to counter the surge of lab-grown alternatives and reignite its struggling economy. With a savvy blend of luxury events and social media blitzes, the nation is targeting …