Rough Diamond News

Lucara has recovered a 1,305.4 carat diamond from its Karowe mine, in Botswana - its 10th stone over 1,000 carats since full-scale open‑pit mining started in 2012. The diamond was unbroken, thanks to the Mega Diamond Recovery (MDR) X-ray ...

The move is part of Origins, the cost-reduction and business reorganization strategy that De Beers launched in 2024. In a press release issued today, the company said the strategy aims "to reduce costs, divest non-core assets and prioritize investment in activities that create the most value."

Looking at the market over a five-year period removes the distortions created by the COVID-19 buying boom. During this period, 1-carat diamonds lost 47.5% of their value, compared with a decline of just 13.6% for 5-carat diamonds. The 1-carat price index includes round diamonds weighing 1.00 to 1.49 carats, in the D-K color range and IF to I1 clarities. The 5-carat category includes round diamonds weighing 5.00 to 5.99 carats, in the D-J color range and IF to SI2 clarities.

World Federation of Diamond Bourses (WFDB), together with the International Diamond Manufacturers Association (IDMA), will convene in Singapore from 12 to 15 July 2026.

Reports from several diamond-producing countries indicate that small diamond miners have shifted from diamond to gold mining. Small alluvial mining operations are relatively easy to convert into gold mining, as most of the equipment is similar in both operations.