DiamondBuzz
Russia could buy more of Alrosa’s excess rough production
Russia’s finance ministry is thinking about buying more rough diamonds from Alrosa, the country’s biggest diamond mining company. This comes after Alrosa’s sales dropped by 42% in the first part of 2025, down to $709 million. The main reasons for this drop are Western sanctions, less demand for natural diamonds, and more people buying lab-grown diamonds instead.
Finance Minister Anton Siluanov said the government might buy Alrosa’s unsold diamonds for Gokhran, which is Russia’s state treasure of precious metals and gems. This isn’t the first time they’ve done this-Russia has bought diamonds from Alrosa before to help the company during tough times.
Alrosa’s sales have fallen sharply from $1.15 billion in Q1 2021, before the Ukraine conflict triggered sweeping G7 and EU sanctions. The company has responded by suspending operations at less profitable deposits and planning staff cuts as inventories and debt rise. Government support through Gokhran purchases could help stabilize the miner as market challenges persist.Because of these problems, Alrosa has also had to pause work at some of its less profitable mines and plans to reduce staff. Government support by buying diamonds could help Alrosa survive while the diamond market is struggling
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
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.
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