DiamondBuzz
WFDB Launches “Moments” Campaign to Highlight the Emotional Power of Natural Diamonds
The World Federation of Diamond Bourses (WFDB) has launched a new social media campaign titled “Moments,” designed to emphasize the deep emotional connections and significance that natural diamonds hold in life’s most meaningful experiences. With the slogan, “Crafted by Earth, Celebrated by You,” the campaign underscores how these timeless gemstones are integral to cherished memories.
The campaign’s debut post features a heartfelt image of a mother passing down her diamond ring to her daughter, accompanied by the message, “This diamond has seen me through life’s most precious moments, and now it will witness yours.” The post also reflects on the significance of natural diamonds, stating, “A natural diamond isn’t just jewellery – it’s a symbol of permanence, a reminder of the bond we share, and a connection to the love passed down through generations.”
Yoram Dvash, President of the WFDB, expressed, “Our mission is to restore natural diamonds to their rightful place as symbols of enduring love. This campaign is just the beginning of our efforts to showcase the beauty and emotion that these gemstones represent.”
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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