Miner also believes the threat of lab-grown will diminish as prices continue to drop.

Government also working on creating diamond exchange and manufacturing center.

Takeover will go into effect on January 1, 2025.

Russian miner reduced output to 33 million carats amid sanctions, waning demand for rough, and low prices.

Larger stone is called Motswedi, Setswana for a water spring that gives life, while the other is Seriti, which means aura or presence.

Around 10 customers will miss out on consistent goods in 2025, sources say.

Customers faced a dilemma: Buy unprofitable goods or lose future allocations.

What’s next for the sightholder system?

Market expects Russian miner’s rough sales to remain muted.

Miner will hold 10 sales during the year.