Gemfields warns of $2.8 million loss on write-down

The latest restriction adds to a ban on Russian diamonds announced in December.

Debswana sold diamonds worth $3.44 billion in 2023 from $4.59 billion registered in 2022.

Russia is the biggest global supplier of uncut diamonds by volume.

Harmony Gold says it will pay a record interim dividend.

Cutifani was CEO from 2013 to 2022 of Anglo, one of the world’s largest mining companies, and chairman of De Beers, the leading diamond mine operator and marketer of natural diamonds.

The 82-year-old serial investor has dived into something that harkens back to the start of his storied career nearly half a century ago.

Going into 2024, it is likely that miners will release into the market at least some excess stock they hold on any sign of a demand recovery.

The miner has announced a $1.6 billion impairment charge on its De Beers diamond business owing to faltering demand.

Anglo American said it will review its assets after a 94% plunge in annual profit.