loader image
Connect with us

International News

Sarine sales decline, reports loss for the first nine months

Published

on

Sarine sales
1,537 Views

Sarine Technologies reported a loss for the first nine months of 2025 as continued weakness in the natural-diamond manufacturing segment weighed on performance. Revenue fell 27% year on year to $22.3 million for the period ending September 30, reflecting broad demand softness across key markets.

The company posted a net loss of $500,000, which included a $100,000 loss tied to its investment in Kitov.ai during the third quarter. This compares with a $200,000 net loss in the same period of 2024, underscoring the deeper pressures facing the natural-diamond pipeline.

Sarine noted that manufacturers remain challenged by subdued global demand, driven primarily by the growing market share of lab-grown diamonds in the US and persistently weak luxury retail sales in China. Sentiment has been further dampened by uncertainty surrounding US import tariffs.

In August, the company completed the acquisition of a 33% stake in Kitov.ai, a provider of advanced inspection solutions for multiple industries. Sarine also extended a convertible loan to the firm, which could be converted into additional equity and raise Sarine’s ownership to as much as 51%, positioning the group for deeper technology integration and future growth opportunities.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

DiamondBuzz

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

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

Published

on

1,821 Views

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.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x