DiamondBuzz
Lesotho looks beyond diamonds, sees future in rare earth elements
Lesotho, whose economy depends on diamonds for over 20% of export earnings, is repositioning its mining strategy toward rare earth elements (REEs). Prime Minister Ntsokoane Samuel Matekane, speaking at the Africa Down Under 2025 conference in Perth, described REEs as the country’s “new jewels,” highlighting their presence in Lesotho’s coal deposits and their critical role in high-tech applications, renewable energy, and electric vehicle batteries.
Ntsokoane Samuel Matekane said “Diamonds will remain part of our crown . . . but our future crown will shine with new jewels: rare earths.”
The policy shift comes against a backdrop of structural pressures in the diamond sector. Global diamond prices remain at historic lows, demand is being reshaped by the rise of lab-grown diamonds, and mining companies are downsizing operations worldwide. In Lesotho, Gem Diamonds—the nation’s largest producer—reported a 42% revenue decline in H1 2025, triggering 240 job losses and raising the prospect of closing the Letseng mine four years ahead of schedule.
Matekane, who built much of his own wealth in diamonds, positioned diversification into critical minerals as both a strategic hedge and a growth opportunity. He extended an open call for international investors, joint ventures, and technology partnerships to accelerate exploration and development of REE projects. For Lesotho, success in this transition will hinge on mobilizing external capital, securing technical expertise, and building infrastructure to compete in the global critical minerals supply chain.
DiamondBuzz
Big, Slightly Tinted Diamonds: Object Of Desire In The US Market
Buyers Of 2.5-Carat and Up Pieces Are Increasingly Choosing Stones With J Color Or Lower, Sometimes Much Lower On The Color Scale
Big, slightly tinted diamonds are suddenly the object of desire in the US — and the industry is asking why.
Buyers of 2.5-carat and up pieces are increasingly choosing stones with J color or lower, sometimes much lower on the color scale, say retailers and traders. That shift signals more than a fashion tweak: it reflects how affluent shoppers now want their diamonds to read as “natural” at a glance.
Lab-grown gems typically come in the brightest, clearest grades, so a warmly hued, imperfect-looking stone has become a visible badge of authenticity — a deliberate antique vibe in a polished world where synthetics dominate. No surprise: The Knot reports that 61% of U.S. couples now pick lab-grown rings.
A report explores who’s buying these larger, lower-color stones, how cultural moments and celebrities — think Taylor Swift — helped fuel the taste for them, and why antique cuts seem particularly suited to carrying color. The piece also ties this appetite to broader marketing narratives, including De Beers’ push for so-called “Desert diamonds.”
It’s not all doom and gloom for mined diamonds. Larger sizes — especially 2 carats and above and long fancy shapes — have held up better than smaller goods over the past year. The report isolates this rising niche and asks the key question: can these warm-toned showstoppers withstand the continued rise of lab-grown competition?
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