International News
De Beers Group Announces Changes to Executive Committee
De Beers Group today announced changes to its Executive Committee, with current Chief Operating Officer, Burger Greeff, retiring at the end of the year following three decades of exceptional service. Kevin Smith, currently Executive Vice President, Corporate Affairs & Strategy, will become Interim Chief Operating Officer, while Eirik Waerness, currently Senior Vice President & Chief Economist, will move into the role of Acting Executive Vice President, Corporate Affairs & Strategy, both effective from 1 December 2025.
Burger joined De Beers Group in August 1993 as a Senior Research Officer at De Beers Consolidated Mines. Over his career with De Beers, Burger has held numerous pivotal leadership roles across the business, including Senior Research Manager: Strategic, General Manager at De Beers Marine SA, and Executive Head of Technical & Sustainability. His leadership has spanned technical innovation, operational excellence, and sustainability.
Kevin joined De Beers in 1996 and has held many leadership roles across both De Beers and Anglo American, including operational, technical and commercial positions. Most recently, as Executive Vice President of Corporate Affairs & Strategy, Kevin has been instrumental in leading the delivery of the Origins strategy. Prior to that, Kevin played a key role in developing the Upstream Origins strategy, as well as leading the organisational redesign programme across the Group.
Eirik joined De Beers Group on 1 September 2025 as Senior Vice President and Chief Economist, Head of Global Market and Price Analysis. Eirik joined De Beers Group from Equinor in Norway, where he held the role of Chief Economist for the past 12 years, as well as a period as Head of Strategy. Eirik’s vision, influence, and analytical expertise have already helped to shape strategic direction at De Beers Group, and in his new position Eirik will expand his portfolio of responsibility to cover Global Communications, Government Affairs, Strategy & Business Development and Global Market and Price Analysis.

Al Cook, CEO of De Beers Group, said: “As Chief Operating Officer, Burger has brought integrity, strategic foresight, and unwavering commitment to our purpose. His contributions have helped shape the future of our operations and inspired many across the business. Burger’s legacy is one of excellence, humility, and service, and I extend my heartfelt thanks to Burger for his outstanding leadership.
“With Burger’s departure, I am delighted that Kevin Smith, a highly respected leader with an outstanding track record of delivery, will take over the leadership of our operations. He brings a wealth of experience and a range of skills from nearly 30 years in the business, including working alongside our government partners in Botswana and in Namibia to drive success in our joint venture businesses.
“Moreover, I welcome Eirik to the De Beers Executive Committee as he moves into the role of Acting Executive Vice President, Corporate Affairs & Strategy. With more than 12 years in chief economist roles and board experience across three major Norwegian government institutions, he brings a unique perspective shaped by global markets and institutional governance, and I very much look forward to benefitting from his expertise in his new role.”
International News
MCX Gold, Silver Rise Despite Global Weakness; US Data, Iran Tensions Keep Bullion Markets On Edge
While Domestic Gold and Silver Prices Edged Higher On MCX, International Spot Gold Slipped Amid Uncertainty Over US-Iran Negotiations, Inflation Concerns
Gold and silver prices witnessed mixed momentum on May 28, with domestic futures on the Multi Commodity Exchange (MCX) trading marginally higher even as international spot gold prices remained under pressure. The divergence reflects cautious investor sentiment amid ongoing geopolitical tensions, uncertainty surrounding US-Iran peace negotiations, and expectations of tighter monetary policy in the United States.
MCX gold futures for June delivery rose modestly by Rs. 215 to Rs. 1,57,898 per 10 grams, while silver futures for July delivery gained Rs. 2,000 to trade at Rs. 2,72,628 per kilogram in early trade. The domestic uptick was supported by weakness in the US dollar and cautious positioning ahead of key macroeconomic developments.
However, global spot gold prices extended losses for a second consecutive session as investors remained wary of the inflationary impact of elevated energy prices and the possibility of prolonged geopolitical instability in the Middle East. Analysts noted that fading hopes of a near-term diplomatic breakthrough between the US and Iran have revived concerns around oil supply disruptions, higher crude prices, and inflation risks — factors that continue to influence precious metals.
According to market experts, gold has struggled to regain strong upside momentum despite its safe-haven appeal, as rising US bond yields and a firmer dollar have reduced investor appetite for non-yielding assets like bullion. Silver, meanwhile, remained under pressure globally after recent military developments in southern Iran weakened expectations of an immediate resolution to regional tensions.
Investors are now closely watching key US macroeconomic indicators, including ADP employment figures, GDP growth data, and the Personal Consumption Expenditures (PCE) inflation index — the Federal Reserve’s preferred inflation gauge. These data points are expected to offer fresh direction on the Fed’s interest rate trajectory, which remains a crucial driver for gold and silver prices.
With geopolitical risks still elevated and inflation concerns persisting, bullion markets are expected to remain volatile in the near term as traders await clearer signals on both diplomacy and monetary policy.
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