
Diamond miner De Beers said on Tuesday it had extended a 10-year sales agreement with Botswana by a year due to logistical challenges caused by the coronavirus pandemic, allowing the two sides more time to negotiate.
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Diamond miner De Beers said on Tuesday it had extended a 10-year sales agreement with Botswana by a year due to logistical challenges caused by the coronavirus pandemic, allowing the two sides more time to negotiate.
Sales of rough diamonds at De Beers rose more than 12% in the latest sales cycle, as demand improves on the back of easing Covid-19 restrictions and ahead of the December festive season.
The womenswear brand is staying in the family, having been acquired by Roberto and Stefano Aimone – the husband and son, respectively, of Laura Zegna – but designer Simon Holloway is on his way out.
The Botswana government said there was no guarantee that it would be able to renew a new 10-year sales agreement with De Beers before the current one expires, as the coronavirus pandemic has delayed negotiations.
De Beers' Namibia joint venture, Namdeb, increased diamond production by 5.8% in the first quarter from a year earlier, according to data from De Beers' parent Anglo American .
Diamond miner De Beers said on Thursday its Chief Financial Officer Nimesh Patel will leave the company on July 26 to join Spirax-Sarco Engineering plc .
Anglo American unit De Beers said its 2019 marketing budget will exceed last year's figure of $170 million and will focus on the biggest market the United States, where diamond demand is holding firm.
London fashion witnessed a great debate this season, with two sides squared off in opposing camps – the sacred versus the profane.
Shares in African diamond miner Petra Diamonds hit an all-time low on Monday after it missed forecasts with a 22% fall in annual profit, as a Sino-U.S. trade row and protests in Hong Kong dented demand.
Anglo American’s diamond subsidiary De Beers is scaling back production after trade tensions between the United States and China contributed to a 27% first-half fall in diamond earnings, its CEO said.