DiamondBuzz
Antwerp diamond companies fund life-saving medicines for Botswana
Eighteen Antwerp diamond firms unite to supply a year’s worth of essential medicines to 35,000 Botswana patients, strengthening humanitarian and trade ties between the two diamond hubs.
In a remarkable show of solidarity, eighteen Antwerp-based diamond companies have come together to fund critical, life-saving medicines for more than 35,000 people in Botswana, following the country’s declaration of a medical emergency earlier this year. The initiative, coordinated by the Antwerp World Diamond Centre (AWDC), has ensured the procurement of vital cardiac and diabetes medication—enough to support patients for a full year.
Botswana’s Minister of Minerals and Energy, Joy Bogolo Kenewendo, travelled to Antwerp to personally thank the industry for its swift and meaningful response. During her visit, she met with the contributing companies and toured several important sector facilities, underscoring the strong and longstanding partnership between Botswana and Antwerp. The two hubs remain deeply interlinked, with bilateral diamond trade valued at approximately USD 580 million in 2024.
The companies participating in this humanitarian effort include Andre Messika, Ankit Gems, Anita Diamonds, Bonas Group, Choron AMC, Dali Diamond, Dharm Diam, Ferrari, HB Antwerp, Malca Amit, Pluczenik, Rosy Blue, Rubel & Ménasché, Samir Gems, Sheetal, Shining Star, Taché, and Yerushalmi Brothers.
This collective action highlights the diamond industry’s capacity for social impact—demonstrating that strong commercial ties can also fuel meaningful community support in times of need.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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