DiamondBuzz
VAIRAM 2025 to explore how innovation and technology are driving the LGD growth in India
GJEPC and InCent LGD- IIT Madras present VAJRA INDUSTRY, RESEARCH AND ACADEMIC MEET [VAIRAM 2025] Workshop
The initiative envisages the growth of the Lab-Grown Diamonds (LGD) industry through technology and innovation. VAIRAM will be held on 10th Feb’25 at TTJ Auditorium, ICSR, IIT Madras.
The rise of LGD is revolutionizing the diamond industry, bringing new possibilities to explore and widening the spectrum of opportunities and innovation. VAIRAM – 2025 is dedicated to exploring the current and future states of India’s LGD industry. The event is designed to hear from the LGD industry professionals and to identify the challenges faced by the Indian industries. Through a series of expert panel and open discussions, we will examine the advancements, challenges, and potential of the lab-grown diamond sector in India. VAIRAM 2025 will provide a vibrant platform for industry networking and collaboration.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
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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.