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.

Anglo American Plc is expected to launch the formal sale process for its struggling De Beers diamond division within weeks, but mounting industry challenges could force the UK-based mining giant to accept 50 per cent of  the unit’s $4.9 billion book value, according to a Financial Times report.

The diamond division, once a crown jewel of Anglo American’s portfolio, may fetch as little as $2.5 billion in a sale—roughly half its current book valuation. This dramatic discount reflects the severe headwinds facing the global diamond industry, including weakening consumer demand and intensifying competition from laboratory-grown diamonds that are reshaping the luxury market.

The potential sale price represents a stunning fall from grace for De Beers, which was valued at $7.6 billion as recently as December 2023. Since then, Anglo American has been forced to write down the division’s value twice, highlighting the rapid deterioration in market conditions.

The diamond divestiture is part of Anglo American’s broader strategic transformation, accelerated after successfully fending off a takeover attempt by mining rival BHP Group last year. The failed $49 billion bid prompted Anglo American to embark on an aggressive portfolio restructuring aimed at focusing on higher-margin, growth-oriented assets.

While a direct sale remains Anglo American’s preferred strategy, the company is keeping all options open, including a potential initial public offering that could allow it to retain partial ownership while accessing public markets for capital. The flexibility suggests management recognizes the challenging sale environment and wants to maximize value regardless of the exit mechanism.

Anglo American has assembled a heavyweight advisory team including Morgan Stanley, Goldman Sachs, and Centerview Partners to navigate the complex transaction, signaling the strategic importance of achieving the best possible outcome.

In a moment of great pride for India and the diamond city of Surat, Shri Govind Dholakia, the humble visionary behind Shree Ramkrishna Exports (SRK), was honoured with the Lifetime Achievement Award by Diamonds Do Good, a prestigious global non-profit organisation. The award was presented at their annual gala during JCK Las Vegas 2025, one of the world’s biggest jewellery shows in the US.

What made the evening even more special was that his son, Shreyans Dholakia, Entrepreneur – Brand Custodian of the company accepted the award on his behalf, stating it made him “ten times prouder” to represent his father and the values he built the business upon.

“Legacy and history are not built by preserving wealth, they are built by giving and sharing.”  He always says.

Speaking at the event, Shreyans, said:

“Thank you Diamonds Do Good. This honour goes beyond our family, it belongs to every artisan in Surat, to every life touched by our foundation, and to a philosophy we live by: that business is not just about success, but about significance.”

The award comes at a time when the world is increasingly looking for meaning behind luxury and India’s diamond industry is being recognised for both excellence and ethics.

This marks the second time Govind Dholakia has been honoured in the US, the first being the prestigious USGBC Leadership Award, presented in Boston by the U.S. Green Building Council (USGBC) for his visionary commitment to sustainable development.

Last night in Las Vegas over, 9,000 miles from India, Surat’s spirit was celebrated. This is a national moment of pride for the values, vision, and people that make India shine across the world.

From a small village in Gujarat to one of the biggest stages in the global diamond industry, Govind Dholakia’s journey began at the age of 13, with no resources, but immense honesty, hard work, and unshakable faith. Over six decades later, his story is now being recognised not just for building a global diamond powerhouse, but more importantly, for the lives he has touched and uplifted beyond business.

SRK, a name synonymous with fine natural diamonds, is known not only for its world-class craftsmanship but also for its deep commitment to sustainability and community upliftment. Both of its diamond crafting facilities in Surat are the world’s first Net Zero Energy buildings, proudly green-certified for over a decade and recently were recognised for having the lowest per carat emissions of diamond crafting compared the industry average.

Through its philanthropic wing, the SRK Knowledge Foundation (SRKKF) which celebrates 10 years this month, SRK continues a legacy of giving started by Govind Dholakia over 40 years ago. Created to bring all such efforts under one roof, SRKKF has since impacted millions through initiatives in education, girl child empowerment, healthcare, and rural development.