DiamondBuzz
UAE Leads UN Resolution on Conflict Diamonds, KP Chair Highlights Key Achievements
UAE-led resolution on conflict diamonds adopted at UNGA, with major milestones in Kimberley Process highlighted, including CAR export restrictions lifted.
At the United Nations General Assembly (UNGA) in New York, Ahmed Bin Sulayem, Chair of the Kimberley Process (KP), presented the UAE’s significant accomplishments during its 2024 Chairmanship, including the adoption of a UAE-led resolution on the role of diamonds in fuelling conflict. The resolution, co-sponsored by 37 countries, strengthens the Kimberley Process’s mission of ensuring a conflict-free global diamond trade and acknowledges the UAE’s vital contributions to advancing the KP’s goals.
One of the key achievements during the UAE’s chairmanship was the establishment of the first-ever Kimberley Process Secretariat in Gaborone, Botswana, marking a major institutional step forward. The resolution also highlighted other milestones, such as Uzbekistan’s integration as the 60th member of the KP and the lifting of long-standing export restrictions on rough diamonds from the Central African Republic (CAR).

Bin Sulayem emphasized the UAE’s leadership in driving the KP’s mission amid ongoing geopolitical challenges. “We made meaningful progress, advanced the agenda, and upheld the integrity of the Kimberley Process,” he stated.
The UAE’s leadership was widely praised during the UNGA session, with the European Union commending the UAE’s efforts in building consensus, while Zimbabwe recognized its contributions to job creation in the natural diamond industry. Representatives from the Central African Republic expressed gratitude for the UAE’s pivotal role in lifting trade restrictions, thus enhancing the credibility of the KP.
Looking ahead, the UAE is set to continue its leadership in the Kimberley Process, serving as Custodian Chair in 2025 and Chairing the Committee on Participation and Chairmanship (CPC) in 2026, shaping the future of the global diamond trade.
DiamondBuzz
Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025
Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.
Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.
Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.
However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.
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