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☆ The most expensive fashion pieces Taylor Swift has worn this year
▼ + stars: | 2024-04-01 | by ( Amanda Krause | ) www.businessinsider.com time to read: 1 min

In January, Taylor Swift wore more than $108,000 worth of diamond earrings on the Golden Globes red carpet. Taylor Swift wears De Beers diamonds at the 2024 Golden Globe Awards. Axelle/Bauer-Griffin/Getty ImagesSwift wore three earrings on each ear, including a $68,500 pair of De Beers Arpeggia three-line danglers inspired by Beethoven's "Moonlight Sonata." She also sported a $34,900 pair of the brand's Arpeggia one-line earrings, a $2,000 cuff in the style Dewdrop, and one stud in a classic round shape that ranges in price, starting at $3,350. Together, her diamond earrings cost at least $108,750.

Persons: Taylor Swift, Bauer, Griffin, Swift, De Beers, Beethoven's Organizations: Globes

☆ Miley Cyrus won her first Grammys and was the best-dressed star of the show in 5 different outfits
▼ + stars: | 2024-02-05 | by ( Amanda Krause | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe 2024 Grammy Awards was a huge night for Miley Cyrus. Miley Cyrus attends the 2024 Grammy Awards in Los Angeles, California. Miley Cyrus attends the 2024 Grammy Awards. Miley Cyrus attends the 2024 Grammy Awards in Los Angeles, California.

Persons: Miley Cyrus, —, Maison Margiela, Kevin Mazur, Cyrus didn't, Ford, Mariah Carey, Kevin Winter, Cyrus, Bob Mackie, De Beers, John Shearer, Stringer, Gucci, it's Organizations: Service, CBS Locations: Los Angeles , California

☆ New sanctions on Russian diamonds will change the global trade in gems
▼ + stars: | 2024-01-22 | by ( Sarah Kent | ) edition.cnn.com time to read: +5 min

But as of the start of January, EU and G7 countries have banned the direct purchase of non-industrial diamonds from Russia. This move will be followed by further restrictions on the import of Russian diamonds processed in third countries starting in March. Industry groups including the World Diamond Council, Antwerp World Diamond Centre, the Gem and Jewellery Export Council of India and the Gemological Institute of America (GIA) have been working together to develop an effective solution. What does this mean for the diamond industry? LVMH-owned Tiffany and Richemont both said they stopped sourcing Russian stones shortly after the war in Ukraine broke out.

Persons: Russia’s, Pavel Alekseevich Marinychev, ”, Paul Zimnisky, Russia they’ll, Andrey Rudakov, Morgane Winterholer, De Beers, Tiffany, Richemont Organizations: CNN, European, Bloomberg, Getty, EU, Industry, World Diamond Council, Diamond Centre, Jewellery Export, of India, Gemological Institute of America, “, ”, GIA Locations: Ukraine, Canada, Japan, France, Germany, Italy, Antwerp, Belgian, Russia, Europe, Moscow, “

☆ Kate Moss at 50: A supermodel through the decades
▼ + stars: | 2024-01-16 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +7 min

CNN —British supermodel Kate Moss turns 50 today — and she remains as much a cultural icon as when she emerged as a breakout star more than three decades ago. Johnny Green/PA/Getty Images Kate Moss and her then-boyfriend, the actor Johnny Depp, attend the Golden Globe Awards in 1995. Dave M. Benett/Getty Images Kate Moss and Jamie Hince pose with bridesmaids after getting married on July 1, 2011 in Southrop, England. Jewel Samad/AFP/Getty Images Moss arrives for a screening of the movie "Loving" at the 2016 Cannes Film Festival. Scroll through the gallery above to see some of the most memorable moment’s from Kate Moss’ life and career.

Persons: Kate Moss, Moss, it’s, ”, Corinne Day, Cindy Crawford, Naomi Campbell, Claudia Schiffer, Chanel, Calvin Klein, Johnny Green, Johnny Depp, Ron Davis, Pierre Verdy, Donatella Versace, De, UPPA, Zuma Moss, Pete Doherty, MJ Kim, Alexander McQueen's, Andy Paradise, Banksy, Andy Warhol's, Marilyn Monroe, Carl De Souza, Marc Jacobs, Patrick McMullan, Mario Testino, Kate Who, Dave M, Jamie Hince, bridesmaids, Neil Mockford, Stella Tennant, Lily Cole, Karen Elson, Jourdan Dunn, David Gandy, Jewel Samad, Antonin Thuillier, Stella McCartney, Chris Joseph, Louis Vuitton's, Peter White, Lila, Princess Eugenie of York, Jack Brooksbank, George's, Alastair Grant, Stephane De Sakutin, Amber Valletta, Daniele Venturelli, Amber Heard, Evelyn Hockstein, Jamie McCarthy, David Bailey, Kate, ” Moss, Jefferson Hack, Marc Quinn, Lucian Freud, Johnny Cash, Paul McCartney, Elton John Organizations: CNN, Vogue, Burberry, British Vogue, Getty, Globe, Glastonbury Music, Olympic, London, Louis, Milan, BBC, Forbes, Stripes Locations: British, South London, Croydon, London, Couture, Paris, AFP, Glastonbury, New York City, Southrop, England, St, Windsor , England, Fairfax, Fairfax , Virginia, Arizona, Egypt

☆ Diamonds Made With Solar Power Are Offering Fiancées Ethical Fashion
▼ + stars: | 2024-01-13 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

“She really did not want a natural diamond because of the child labor [concerns],” said Henshall. A lab-grown diamond made with solar power. Made largely in China and India, lab-grown diamonds are produced using heat and pressure but without any mining. Three years later the former retail executive started selling lab-grown diamonds produced in a solar-powered factory in Gujarat, India. The volume and quality can vary but is a good barometer of appetite for natural diamonds, as well as prices.

Persons: Peter Henshall, Tasha Mawdsley, Tasha, ”, Henshall, “, Peter aren’t, Paul Zimnisky, Pandora, Laura Lambert, Fenton, “ It’s, We’ve, ” Lambert, ” Beth Gerstein, David Kellie, De Beers, De, Lightbox, LVMH, Cartier, Richemont, Kyle Grant, Grant, it’s, Yusuf Khan Organizations: Natural Diamond, Business, First Insight, Baker Retailing, Wharton School, University of Pennsylvania, Diamond Exchange, Miners, De Beers, yusuf.khan@wsj.com Corrections, Amplifications Locations: Ibiza, China, India, Danish, London, Gujarat, U.S, Amplifications Danish

☆ Angola's new diamond mine opens against backdrop of weak demand
▼ + stars: | 2023-11-27 | by ( Miguel Gomes | ) www.reuters.com time to read: +3 min

An employee looks at a rough diamond at "Flanders Manufacturing", as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023. Angola's state-controlled diamond miner Catoca found the Luele diamond deposit at the project, previously known as Luaxe, in 2013 in one of the largest discoveries in the diamond industry in more than half a century. De Beers, the world's largest rough diamond producer by volume, estimates 2022 global rough diamond production at 121 million carats. Demand for rough diamonds has been weak in recent months with India - cutter and polisher of 90% of the world's rough diamond - asking the global miners to stop selling it the gemstones to manage accumulated stocks. Catoca, in which Russia's sanctions-hit Alrosa (ALRS.MM) owns 41%, currently holds a 50.5% stake in the Luele project.

Persons: Johanna Geron, Catoca, Paul Zimnisky, De Beers, Luele, Richard Chetwode, Zimnisky, Miguel Gomes, Polina Devitt, Felix Njini, David Evans Organizations: REUTERS, Rights, Reuters, Thomson Locations: Ukraine, Antwerp, Belgium, Rights LUANDA, Angola, U.S, China, India

☆ Soon You May Know Exactly Where Your Diamond Was Mined
▼ + stars: | 2023-11-20 | by ( Victoria Gomelsky | ) www.nytimes.com time to read: +1 min

He moved to the city, a diamond trading hub, after leaving De Beers, where he had worked for 16 years, including five years in Gaborone, Botswana’s capital. Greg Kwiat, chief executive of Kwiat Diamonds, a diamond jewelry brand in New York City, said the company’s Mine to Shine traceability program, introduced in June, was likewise based on a desire to show how diamonds positively affect the communities in Africa where they are mined. Consumers who buy Kwiat diamonds are able to follow their stones from the mine through the stages of cutting and setting into jewelry. “Right now, we’re sharing videos and imagery of the process as it’s occurring,” Mr. Kwiat said. In 2003, a coalition of governments, civil society and diamond industry established the Kimberley Process Certification Scheme, aimed at preventing the flow of conflict diamonds.

Persons: Mr, Moltke, De, ”, Greg Kwiat, Kwiat, “ Organizations: Diamond Center, De, Kwiat, Consumers Locations: Antwerp, Belgium, De Beers, Gaborone, Botswana’s, “, Clearwater, Fla, New York City, Africa, Kimberley

WASHINGTON (AP) — A new batch of Rhodes scholars from the United States has been selected to study at the University of Oxford in a screening process that was conducted in person for the first time since the COVID-19 pandemic swept across the globe in 2020. The scholars, who are among students selected from more than 70 countries, are due to pursue graduate degrees ranging from social sciences and humanities to biological and physical sciences. The U.S. scholars were selected by 16 independent district committees from a pool of more than 2,500 applicants. The sponsorships were created in 1902 by the will of Cecil Rhodes, a founder of the diamond mining and manufacturing company De Beers. The inaugural class entered Oxford in 1903 and the first U.S. Rhodes scholars arrived the next year, according to the website of the trust’s American secretary.

Persons: Rhodes, —, Ramona L, Doyle, Cecil Rhodes Organizations: WASHINGTON, University of Oxford, American, Rhodes, De Beers, Oxford Locations: United States, Puerto Rico, American

☆ In diamond centre Antwerp, Russian gems are already shunned
▼ + stars: | 2023-11-03 | by ( Julia Payne | ) www.reuters.com time to read: +5 min

[1/5] Cut diamonds are seen at the diamond exchange in Antwerp, as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023. Other diamond firms in Antwerp, the world's biggest centre of trade in rough diamonds and cutting of the biggest gems, were asked to avoid Russian stones. Now, Western powers want to make the boycott official with a formal ban on Russian stones. Imports of Russian rough diamonds are now at less than 5% of pre-war levels, the source said. Most proposals under consideration by the G7 now focus on rough diamonds of 1 carat and above initially.

Persons: Johanna Geron, Thierry Tugendhaft, Van Cleef, Tugendhaft, De Beers, It's, Julia Payne, Elaine Hardcastle Organizations: REUTERS, Rights, European, World Diamond Council, EU, Thomson Locations: Antwerp, Ukraine, Belgium, Rights ANTWERP, Russia, Paris, Tiffany's, Cartier, Canada, Lesotho, South Africa, Botswana, India, United States, Japan, European Union, France, Antwerp . New

☆ How 2023 became the year of the lab-grown diamond
▼ + stars: | 2023-10-26 | by ( Diana Pearl | ) edition.cnn.com time to read: +9 min

The company isn’t the only one seeing big sales from this category: Lab-grown diamond brand Brilliant Earth saw a 15.7 percent net sales increase in 2022, to $440 million. Dorsey, another exclusively lab-grown jewelry brand, sold over a million stones last year. Broadening the marketMany consumers plough the savings from buying a lab-grown diamond into more jewelry — a bigger engagement ring, for instance. Valeria Mongelli/Bloomberg/Getty Images/File“The lab-grown diamond is not in competition with mined diamonds, it’s a complement to mined diamonds,” said Sayed Haider, COO, merchandising and operations at Diamond Nexus, which added a line of lab-grown diamonds to its offering earlier this year. Lab-grown diamond brand Dorsey sold over a million stones last year.

Persons: CNN CNN —, Pandora, ”, Pamela Anderson, Dorsey, Tiffany, Lionel Bonaventure, haven’t, Paul Zimnisky, Golan, De, Mary Carmen Gasco, Megan Strachan, Valeria Mongelli, Sayed Haider, “, Strachan, Grace Coddington, Pandora Dorsey, influencers, Bella Hadid, Justin, Hailey Bieber, that’s, Zuo Dongchen, Anderson, Precious Lee, De Beers, Bruce Cleaver, Fred, Ashley Barrett It’s, Shah Organizations: The, Fashion, CNN CNN, Diamond District, New, Brands, Cartier, Getty, De Beers, Pandora, Business, Bloomberg, Diamond Nexus, ”, Vogue, Marketing, Publishing, British Fashion Council, Business of Fashion, CNN Locations: New York, Astor, Paris, AFP, Zhengzhou, China

☆ Options for G7 discussion for a ban on Russian diamonds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Enforcement would be government regulated through customs at a single point of entry for rough diamonds and several G7 entry points for polished stones. The proposal said a single entry point would be needed for rough diamonds without specifying where. Antwerp would be the favoured option for Belgium and the city also already handles most of the rough diamond trade. WORLD DIAMOND COUNCILThe World Diamond Council, which includes the world's largest rough diamond producer by value, De Beers, has proposed a version of the ban that is largely self-regulating. Any diamond sellers would then have to include with the stone they sell a declaration called the "G7 Diamond Protocol Declaration" that the diamond is not Russian.

Persons: De Beers, Sellers, De, WDC, Julia Payne, Jan Strupczewski, David Evans Organizations: Reuters, World Diamond Council, Belgian, Export Promotion Council, WORLD DIAMOND, Diamond Council, Russian, Thomson Locations: Ukraine, Belgium, India, France, BELGIUM, Antwerp, Russian, Botswana, INDIA, Surat, Mumbai, FRANCE

☆ Diamond prices are down but shoppers shouldn't expect cheaper jewelry this holiday season
▼ + stars: | 2023-10-01 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

According to the Zimnisky Global Rough Diamond Index, prices are the lowest they’ve been in a year. Shopper demand for diamond jewelry influences rough diamond prices and, to an extent, retail prices. The plummeting prices follow two record-breaking years in rough diamond sales. But a drop in rough diamond prices does not mean shoppers will see cheaper price tags in stores. “The stock market is performing relatively well and employment is strong,” he said, paving the way for a gradual recovery of rough diamond prices in 2024.

Persons: ”, Paul Zimnisky, “, Edahn Golan, ” Zimnisky, David Johnson, De Beers, Zimnisky Organizations: CNN, Industry, Retailers, De Locations: Retailers stoke, Golan, United States

☆ One Russian diamond giant is halting sales in a desperate scramble to stop prices from plunging
▼ + stars: | 2023-09-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia diamond giant Alrosa is halting sales in a bid to boost diamond prices, according to Bloomberg. Diamond prices have struggled over the past year amid growing demand for lab-grown stones. The mining giant will pause sales of rough diamonds until November, Bloomberg reported on Wednesday, citing a company memo sent out to customers. That comes amid a freefall in diamond prices, which has only accelerated over the past few weeks. Russian diamonds are also facing a potential ban from the G7 nations, which could impact the price of diamonds of Russian origin.

Persons: Alrosa, De Beers, — Organizations: Bloomberg, Diamond, Service, Belgian Locations: Russia, Wall, Silicon

The plan could transform the global diamond supply chain, but implementation will depend heavily on India, whose diamond industry employs millions of people who cut and polish 90% of the world's diamonds. If it goes ahead as anticipated, it would split the global consumer diamond market. The EU bought 1.4 billion euros ($1.5 billion) worth of Russian diamonds last year, based on data from Eurostat, as the EU has not banned Russian gem imports nor blacklisted Alrosa. As of 2021, global rough diamond sales totalled $16.4 billion, while demand for polished diamonds was $28 billion, the De Beers report showed. "I think the G7 officials involved with this are taking it quite seriously and I believe they will strictly enforce it.

Persons: Belgium's, Alrosa, De Beers, Paul Zimnisky, Zimnisky, Julia Payne, Polina Devitt, Clara Denina, Shivangi Acharya, Rajendra Jadhav, Toby Chopra, David Holmes, Veronica Brown, Jane Merriman Organizations: EU, Eurostat, De Beers, De, Industry, Belgian, Jewellery Export, Thomson Locations: India, Antwerp, BRUSSELS, LONDON, Ukraine, Belgium, Brussels, Russia, United States, INDIA, AFRICA, Africa

☆ De Beers 'confident' talks will avert strike at S.Africa's Venetia mine
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

De Beers delivers first production from underground operations at its Venetia Mine in South Africa in this undated handout picture. On Tuesday, NUM, South Africa's biggest mineworkers' union, said it was planning a strike at Venetia, as De Beers could only offer a 6% pay increase against demands for a 9% hike. The strike by NUM's 1,500 workers would impact operations at Venetia's new $2.3 billion underground operations, which started production in July. De Beers stopped its 30-year open pit operations at Venetia in December 2022. "We are confident that through continued engagement with the union and our employees we will reach a sustainable settlement with the NUM," De Beers said.

Persons: De Beers, NUM, Nelson Banya, Sharon Singleton Organizations: REUTERS, South Africa's National Union of Mineworkers, Commission, Conciliation, Thomson Locations: Venetia, South Africa, NUM

☆ Diamond markets are tumbling because Americans love lab-grown stones
▼ + stars: | 2023-09-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

A surge in demand for lab-grown stones has weakened a key corner of the diamond market, Bloomberg reported. But synthetic stones are taking a bigger share of the diamond market. Lab-grown stones are faster-made, cheaper, and more environmentally friendly alternative to mined diamonds. Five years ago, synthetic diamonds sold at a 20% discount to natural stones. "Ultimately," he said, "they are different products and the finite and rarity of natural diamonds is a different proposition."

Persons: De Beers, Paul Rowley, Rowley Organizations: Bloomberg, Diamond, Service Locations: Wall, Silicon, India

[1/4] Vehicles leave Yellowknife on the only highway in or out of the city after a state of emergency was declared due to the proximity of a wildfire, in Yellowknife, Northwest Territories, Canada August 16, 2023. REUTERS/Pat Kane Acquire Licensing RightsAug 17 (Reuters) - Canadian fire crews battled early on Thursday to prevent wildfires from reaching the northern city of Yellowknife, where all 20,000 residents are leaving after an evacuation order was declared. Water bombers flew low over Yellowknife as thick smoke blanketed the capital of the vast and sparsely populated Northwest Territories. This is Canada's worst-ever wildfire season with more than 1,000 active fires burning across the country, including 265 in the Northwest Territories. The deadline for residents to leave Yellowknife is noon local time on Friday (1800 GMT).

Persons: Pat Kane, Justin Trudeau, Rebecca Alty, Alty, Mike Westwick, Diamond, De Beers, Lytton, Divya Rajagopal, Devika Syamnath, David Gregorio Our Organizations: Vehicles, REUTERS, Water, Territories, Canadian Broadcasting Corp, CBC, Thomson Locations: Yellowknife, Northwest Territories, Canada, Territories, Alberta, Hay, Fort McMurray, British Columbia, Toronto

☆ Canada wildfires: what are the causes and when will it end?
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +6 min

Here are some questions and answers about Canada's wildfires, which have charred millions of hectares and polluted the air in that nation and the U.S.WHAT PARTS OF CANADA HAVE WILDFIRES HIT? Wildfires are common in Canada's western provinces, but this year the eastern provinces of Nova Scotia, Quebec and parts of Ontario have also reeled from out-of-control wildfires. This week, the focus returned to the west, as wildfires burned about 16 km (10 miles) northwest of Yellowknife, the capital of the vast, sparsely populated Northwest Territories. As of Wednesday, there were 1,054 active wildfires in Canada, including 230 in the Northwest Territories and 669 deemed out of control, according to the Canadian Interagency Forest Fire Center. Widespread spring fires across the whole of Canada are also unusual, and research shows fire seasons across North America are getting longer.

Persons: Pat Kane, Mike Westwick, De Beers, Lytton, Fort Smith, Justin Trudeau, Ellen Whitman, David Ljunggren, Divya Rajagopal, Ismail Shakil, Rod Nickel, Jonathan Oatis, Josie Kao Organizations: REUTERS, Canadian Broadcasting Corporation, Canadian Interagency Forest Fire, Reuters Graphics, Northwest, Enterprise, Northwest Territories, Diamond, Atlantic Canada, Canadian, Canadian Forest Service, Thomson Locations: Yellowknife, Northwest Territories, Canada, U.S, Nova Scotia, Quebec, Ontario, Territories, British Columbia, Alberta, YELLOWKNIFE, Northwest, Hay, Fort McMurray, United States, Fort, Winnipeg, Ottawa, Toronto, East Coast, New York, Washington, Chicago, North America

☆ Diamond Giant De Beers to Let Botswana Keep Half of Production
▼ + stars: | 2023-07-03 | by ( Alexandra Wexler | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/diamond-giant-de-beers-to-let-botswana-keep-half-of-production-110d3570

Persons: Dow Jones Locations: botswana

☆ Why Do Mosquitoes Like Me So Much?
▼ + stars: | 2023-07-03 | by ( Dani Blum | ) www.nytimes.com time to read: +2 min

Mosquitoes seek out carbon dioxide (which in part is why they’re so good at finding us), and the more we exhale, the more carbon dioxide we send into the air, inviting bugs our way. If you were to do a vigorous workout outside, you might breathe more heavily and exhale more carbon dioxide, which might usher in mosquitoes, Dr. Potter said. Sweat sends a powerful signal to mosquitoes too, Dr. McBride added — particularly sweat that’s lingered for a few hours, mixing with bacteria on our skin. And if you’ve had a few beach-side beers or happy hour margaritas, you might also emit some alcohol in your sweat, Dr. Bazzoli said, which can lure mosquitoes in. Some fragrant personal care products such as certain perfumes and scented soaps and lotions (including sunscreens) can attract mosquitoes, Dr. Bazzoli said, so if you’ll be spending time outdoors when mosquitoes are around, try to use products that are fragrance-free, and consider skipping the perfume completely.

Persons: Christopher Bazzoli, haven’t, Bazzoli, —, Potter, Sweat, McBride, you’ve Organizations: Cleveland Clinic, Research

☆ Botswana, De Beers agree 'in principle' to new diamond sales deal
▼ + stars: | 2023-07-01 | by ( Brian Benza | ) www.reuters.com time to read: +2 min

An interim sales agreement is in place until the new pact is finalised, the two partners said in a statement. "The transformational new agreements between Botswana and De Beers reflect the aspirations of the people of Botswana, propels both Botswana and De Beers forward, and underpins the future of their Debswana joint venture through long-term investment," the statement said. Botswana, the world's second largest diamond producer after Russia by output, supplies 70% of De Beers' rough diamonds. Diamond sales, almost entirely from Debswana, account for two-thirds of Botswana's foreign currency receipts and a fifth of its gross domestic product. Debswana's diamond sales hit a record $4.6 billion last year, compared to $3.5 billion in 2021.

Persons: De Beers, Lefoko Moagi, Debswana, De, Okavango Diamond, Mokgweetsi Masisi, Masisi, Felix Njini, Nelson Banya, Edwina Gibbs Organizations: Botswana Mines, De Beers, De, HB Antwerp, Thomson Locations: Botswana, Russia, Nairobi, Harare, Nilutpal

July 1 (Reuters) - Botswana and De Beers Group have agreed a new diamond sales deal in which the African country, the world's No. 1 diamond producer by value, gradually increases the share of rough stones it gets from their joint venture Debswana over the next decade to 50%, the government and the mining company said on Saturday. The Botswana government and De Beers said they had agreed on a 10-year sales deal for Debswana's rough diamond production through to 2033, and on a 25-year Debswana mining licence valid until 2054. The Botswana-De Beers agreement allows the partners to advance the investment required to secure Debswana's position as one of the world's leading gem producers, De Beers said. Botswana, where De Beers has been present for 50 years, is heavily reliant on diamonds, with two-thirds of its foreign currency receipts coming from mining, sales and ancillary activities linked to the precious stone.

Persons: De Beers, Debswana, Mokgweetsi Masisi, weren't, Felix Njini, Promit Mukherjee, Nelson Banya, Leslie Adler, David Holmes Organizations: De Beers Group, Okavango, Thomson Locations: Botswana, Debswana, pula, Nairobi, Harare, Nilutpal

☆ Botswana mining growth seen flat amid dim diamond outlook
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

GABORONE, March 1 (Reuters) - Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday. Diamond trading grew 41% in the year as Botswana also benefitted from Western buyers shunning stones from Russia following its invasion of Ukraine. In 2023, Botswana expects diamond output to decline by 1%, while diamond trading growth is seen slowing to 7% from 41% last year. Finance ministry estimates show that government expects mineral royalties to fall to 4,5 billion pula ($3.41 billion) in 2023, from 6.1 billion pula last year. Dividends due to the state will also decline to 11,3 billion pula from 15 billion pula in 2022.

☆ The Oil-and-Gas Executive Who Hopes to Shine as De Beers’ New CEO
▼ + stars: | 2023-01-14 | by ( Jenny Strasburg | ) www.wsj.com time to read: 1 min

In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here. Al Cook spent 27 years working for oil-and-gas companies. His newest job brings him closer to an entirely different resource: diamonds.

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