Moody’s downgrades Botswana amid diamond slump
MOODY'S has downgraded Botswana's credit rating to Baa1 from A3, highlighting the government's struggle to adapt to a sustained decline in the diamond sector...
Petra Diamonds launches $25m rights offer
PETRA Diamonds today launched its previously announced £18.8m ($25m) rights offer which forms a key part of steps aimed at keeping the company afloat...
Anglo makes Botswana key to finalising De Beers sale
ANGLO American CEO Duncan Wanblad said on Thursday Botswana's government would be brought into negotiations with one or two short-listed bidders for De Beers...
Selling De Beers presents Anglo with some tricky politics
THE sale of De Beers was always going to be the hardest part of Anglo American's restructuring, first announced in May 2024, not least...
Botswana runs surprise ad-hoc diamond auction
BOTSWANA has launched an unprecedented ad-hoc diamond auction in an effort to raise revenue as the southern African nation grapples with a slump in...
Angola proposes pan-African De Beers consortium
ANGOLA has submitted a bid for a minority stake in De Beers, proposing to establish a pan-African consortium of diamond-producing nations to jointly operate...
Botswana seeks De Beers control by October
BOTSWANA'S president has set an end-of-October deadline to secure majority control of De Beers, as the diamond-dependent nation seeks greater influence over global gem...
Gemfields to post $24.6m interim loss on lower sales
GEMFIELDS expects to report an interim loss of $24.6m (R435.8m) following disrupted emerald production and less premium rubies mined.
In a trading statement ahead of...
GEM Diamonds cuts Letseng workforce by fifth
LESOTHO'S largest diamond mine has laid off 240 workers – a fifth of its staff – as plummeting gem prices and weak global demand...
Botswana enlists Lazard for ambitious De Beers takeover
BOTSWANA has appointed Lazard to advise on acquiring control of diamond giant De Beers, following Qatar's recent $12bn investment pledge to the southern African...