DiamondBuzz
Angola Strengthens Global Diamond Ties with GIA and Tiffany & Co.
Angola is making significant strides in expanding its footprint in the global diamond industry, announcing key partnerships and future plans during the World Federation of Diamond Bourses (WFDB) conference held in New York.
A delegation from the Angolan Ministry of Mineral Resources, Petroleum and Gas (Mirempet) engaged in high-level discussions with several major players in the diamond sector. Among the announcements, Angola expressed its intention to join the National Diamond Council (NDC), the Angola Diamond Exchange, and the WFDB, as revealed by the ministry on its official Facebook page.
A notable meeting took place with Tiffany & Co., where the two parties explored a potential partnership that could see the renowned jewelry brand sourcing diamonds directly from Angola.
In another significant development, Mirempet signed a memorandum of understanding with the Gemological Institute of America (GIA). This agreement outlines future collaboration in gemological training, diamond grading, and the development of services aimed at ensuring transparency in Angola’s diamond trade.
Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, also met with Rapaport Group Chairman Martin Rapaport to explore opportunities for cooperation focused on ethical practices, enhanced market positioning, and global promotion of Angolan diamonds.
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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