International News

Lawmakers Demand Fort Knox Gold Audit Under New Legislation

Published

9 months ago

June 9, 2025

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A group of U.S. lawmakers has introduced the Gold Reserve Transparency Act of 2025, a bill that would require a full and independent audit of the nation’s gold reserves — including the approximately 4,000 tonnes stored at Fort Knox.

Led by a bipartisan coalition in Congress, the legislation mandates that the Comptroller General of the United States, who heads the Government Accountability Office (GAO), conduct a thorough audit of all U.S. gold holdings. This would be the most extensive review of America’s gold reserves in decades.

Supporters of the bill argue that greater transparency is essential for ensuring public trust in U.S. fiscal policy and verifying that the nation’s gold assets remain intact, properly accounted for, and securely stored.

DiamondBuzz

Diamond Slump forces Debswana to diversify into copper, platinum and solar

Diamond-centric mining models is giving way to broader resource portfolios

Published

2 days ago

March 5, 2026

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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.