Next Catoca and Luele sales will see lower availability in those sizes, Endiama says.
Category: Rough
Move puts miner’s recoverable amount at $4.1 billion.
The diamond industry’s most important sales agreement is almost done.
Miner recovered 549-carat Sethunya in 2020 and 1,080-carat Eva Star in 2023.
Parent company slashes diamond miner’s production plan by 10 million carats.
The miner faces competing pressures as the focus shifts to negotiations with Botswana.
Eyal Axelrod of consultancy Lexa International analyzes the supply chain.
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.