DiamondBuzz
Alrosa Unearths Largest Gem-Quality Diamond in Russian History
Russian diamond mining giant Alrosa has unearthed the largest gem-quality diamond ever discovered in the country. The rare amber-coloured crystal weighs an impressive 468.30 carats and measures 56 x 54 x 22 mm. It was recovered in the Republic of Sakha (Yakutia).
“This year will undoubtedly mark a historic milestone for Russia’s diamond industry,” said Alrosa CEO Pavel Marynichev. “In early April, we unveiled the largest diamond ever cut in Russia — over 100 carats, which took more than two years to polish. And now, nature has gifted us this extraordinary discovery. It is the biggest gem-quality diamond ever mined in Russia.”
In tribute to the 80th anniversary of the end of World War II, the diamond has been named “80 Years of Victory in the Great Patriotic War.”
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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