A lower average rough price index and stock rebalancing initiatives had a significant impact on diamond miner De Beers’ earnings for the 2025 financial year, resulting in an underlying loss before interest, taxes, depreciation and amortisation of $511-million, compared with a loss of $25-million in 2024.

Countries built on diamonds are moving to diversify their mining sectors as one of the deepest slumps in years exposes the risks of relying on the precious stones alone.

Gem Diamonds, which owns and operates the Letšeng mine, in Lesotho, recovered 90 354 ct of diamonds and sold 88 381 ct of diamonds in the financial year ended December 31.

Russian diamond producer Alrosa said on Tuesday that its 2025 output would amount to 29.7 million carats, beating its previous forecast but down 10% on last year.

Petra Diamonds has announced a series of board appointments following its AGM on November 27, including that of Vivek Gadodia and Juan Kemp as permanent joint CEOs of the company.

The World Diamond Council (WDC) has expressed “profound regret” that a small number of Kimberley Process (KP) participants blocked consensus on the long-awaited reforms it said were designed to strengthen protections for Africa’s diamond-mining communities.

Lucara Diamond sold 101 422 ct during the quarter ended September 30, generating $51.2-million in revenue.

The mining ministers of Botswana and Angola held talks in Botswana's capital on Friday on cooperation in the diamond sector, as the two Southern African countries seek to take control of Anglo American diamond unit De Beers.

Angola will not fund state-owned miner Endiama's proposed acquisition of a stake in De Beers through the national budget, Finance Minister Vera Daves de Sousa said on Friday.

Angola's rough diamond production reached 10.7-million carats in the nine months to September, a government official said on Friday, as the country targets another record haul this year.