De Beers buys time to close diamond deal with Botswana

The Zimbabwean miner claims it has failed to receive $48m due in payments from the central bank for its sales in dollars, suffering losses of $44m due to lost production.

The company acquired the remaining 50% in the joint venture from its previous partner and said negotiations were already advanced with an unnamed potential new associate.

CEO Matt Mason will be replaced by chief operating officer Patrick Godin, who joined Stornoway in 2010 and was appointed to the board of directors in 2011.

The world's largest diamond producer is said to have reduced prices for low-quality stones as much as 10 percent.

Star Diamond Corporation announced that Rio Tinto Exploration Canada commenced an HQ core drilling program on 11 holes.

ALROSA's total diamond sales in January-October 2018 grew 6% YoY.

The 2018 collection of the finest pink, red and violet diamonds continued its trajectory of double-digit price growth.

The diamond's age is estimated at 350 million years, it weighs 51.49 carats and measures 23 by 22 by 15 mm.

The storied miner is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.