DiamondBuzz
Newfield Resources Set to Partner with ACA Resources for Sierra Leone’s Tongo Diamond Mine
Agreement to manage Tongo diamond deposit operations could lead to a sustainable long-term partnership aimed at producing high-quality diamonds.

Australian mining company Newfield Resources is on track to bring in a new partner for its Tongo diamond deposit in Sierra Leone. Newfield has entered into a non-binding term sheet with ACA Resources, another Australian-based miner, to oversee the mine’s operations.
If the deal is finalized before June, ACA will assume control of all mining activities at Tongo, charging Newfield a fee per carat of diamonds produced. Both companies are committed to making the Tongo mine a long-term, sustainable producer of high-quality diamonds in Sierra Leone.
Newfield acquired the Tongo mine in March 2018 for $23.6 million through its purchase of London-based Stellar Diamonds. Prior to Newfield’s acquisition, the mine was owned by Israeli businessman Beny Steinmetz, through Koidu Holdings, where he held a controlling stake.
In May 2022, the first diamond sales from Tongo, totaling 5,200 carats, earned an average price of $262 per carat. Since then, Newfield has invested $80 million into the mine, including the construction of 2 kilometers of underground infrastructure. The mine is expected to have an eight-year life, with peak annual diamond production estimated at 260,000 carats by the fifth year of operations.

DiamondBuzz
De Beers brings Diamonds and Glamour to London

Insiders suggest a star-studded journey to London might be on the cards. But why London? Beyond its glittering reputation as a global hub for jewellery and fashion, whispers point to something far more dazzling — De Beers is set to host a major showcase in the city.
This year, De Beers Group makes its grand debut at Frieze London, marking a landmark moment where the world of natural diamonds meets the world of art. In collaboration with Frieze Masters, the brand will unveil Voyage Through the Diamond Realm — an immersive experience said to capture the mystery, beauty, and brilliance of natural diamonds like never before.
To bring this vision to life, De Beers has invited India’s leading style and art connoisseurs, including Twinkle Khanna, Ananya Panday, Sara Tendulkar, Karan Johar and many more. Known for their refined taste and appreciation of art and design, these tastemakers are the perfect ambassadors to experience natural diamonds in a whole new light — where every facet tells a story of time, pressure, and perfection.
While details remain under wraps, those close to the brand hint that the experience will be nothing short of transformative — a moment where science, storytelling, and rarity converge to celebrate nature’s most extraordinary creations.
One thing’s certain: when De Beers Group meets Frieze London, the city is bound to shine a little brighter — and perhaps, so will those boarding that flight.
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