De Beers to curb supply on weakening of diamond market


De Beers, the world’s biggest diamond miner by value, is scaling back production plans for this year as it tries adjusting to a brewing industry crisis that’s hitting prices and lowering demand for precious stones. The Anglo American unit said a range of factors, including ongoing trade tensions between the United States and China, contributed to a 27% drop […]

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Diamond Giant DeBeers initiates work on the world’s largest custom-built offshore diamond mining vessel in Namibia

Diamond giant De Beers is building a new diamond mining exploration vessel — the largest of its kind — for Debmarine Namibia. The 176-m-long vessel that will cost $142-million to build is expected to join the fleet within three years. Debmarine Namibia is a 50:50 joint venture with the Namibian government. “There is a great […]

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