Botswana vows to protect interests in potential BHP-Anglo deal: “No way would we allow ourselves to willingly be made redundant or irrelevant,” said Masisi in a television interview with CNBC Africa. “So Botswana will respond in ways that are protective of its interests. The value of De Beers is fundamentally created by Botswana,” Masisi added. “That can never be missed by anybody.”

SA mines minister has no legal powers over Anglo takeover: A merger or takeover of listed entities such as the one proposed between BHP and Anglo American, will not require any prior consent whatsoever from the honourable chairperson. They can go ahead and transact without his involvement. Furthermore, if any such merger or takeover does take place and certain assets and rights must be disposed of, like the South Africa operations which BHP do not seem interested in, and a section 11 consent is required for that specific disposal, the Minister cannot refuse any such disposal. He has no discretion in that regard.

Anglo takeover saga could summon mistakes of past cycles: Anglo’s rejection of BHP’s proposal has heightened speculation that interlopers will enter the bidding for Anglo, including Rio Tinto and Glencore, or even of combined offers, according to Deutsche Bank. There may even be exotic interest for Anglo from sovereign players in Saudi Arabia or China. “The die is cast for China to come in and trump BHP’s offer with relatively little resistance from the South African authorities,” says John Meyer of SP Angel in one colourful market dispatch.

Reasons why SA govt may give Anglo takeover favourable ear : SOUTH Africa’s government might be persuaded to wave through BHP’s $39bn bid for Anglo American despite recent animus towards the Australian firm from the country’s mines and energy minister, Gwede Mantashe. Reuters commented that BHP’s takeover, which requires the unbundling of its listed subsidies in platinum and iron ore would net South Africa about $2bn in capital gains while the government could also secure undertakings on job protection and investment.

Momentum growing for altering G7 sanctions procedures for Russian diamonds: The current system, which mandates that all rough diamonds must be certified by the Diamond Office in Antwerp, has been in operation since 1st March for diamonds entering the EU. It is set to expand to all rough entering G7 countries by 1st September 2024.Despite a joint call from the WFDB, alongside the WDC, GJEPC, and IDMA, urging G7 governments to address concerns over the Russian diamond sanctions, official responses have been lacking. However, there are signs that the proposal is gaining traction.

Namibian diamonds remain with Anglo American: In Namibia, De Beers recover diamonds from the country’s northern and southern coastal regions. In terms of marine diamonds, De Beers conduct marine-based diamond recovery around 90m to 150m below sea level in the Atlantic Ocean off the Namibian coast. It operates a fleet of seven vessels, capable of exploring for and retrieving diamond-bearing materials from the seabed and processing them to a diamond-rich concentrate.

Glencore said to be weighing up Anglo bid options: Glencore was said to be preparing to enter an offer for Anglo American – a development that, if true, could set off a bidding war with BHP. Reuters reported that Glencore had held preliminary discussions, citing people familiar with the situation. BHP’s all-share takeover proposal for Anglo has been in the public realm for about nine days but no competitors for Anglo have emerged so far.

Is the Kimberley Process broken? The Kimberley Process (KP) should focus on becoming more transparent, according to conflict-diamond expert Hans Merket. Confidentiality rules allow governments to block decisions and discussions without giving a reason, noted Merket, a researcher at the Antwerp-based International Peace Information Service (IPIS), which is a member of the KP Civil Society Coalition.

Russia, Angola economic relations rising to unprecedented high levels: Despite consistent assurances made by high-ranking Russian officials that Africa is “in the mainstream of Russia’s foreign policy” have not been substantiated by systematic noticeable completed projects, and worse serious lack of financial support for bilateral agreements, and this has necessitated the pulling out of a number of Russian companies from Africa.

Why rare colored diamonds dominated at this month’s jewelry auctions: In Geneva, sales at the three auction houses totaled $145,934,377, including $77,703,074 at Christie’s Magnificent Jewels; $46,531,921 at Sotheby’s Magnificent and Noble Jewels; and $21,699,382 at Phillips inaugural Geneva Jewels Watch Auction: One. At the Christie’s sale, the “important” diamonds and gemstones represented more than half the value of all lots combined.

Lab-diamonds just won a battle, not the war: After a brief surge in diamond Lab-jewellery demand during the pandemic, diamond miners are now grappling with an oversupply that is forcing them to reduce the excess inventory. Unlike miners, companies tied to man-made stones have reported positive results. A case in point is Pandora, the world’s largest jewellery maker by production volume, which earlier this month raised its full-year revenue guidance after beating first quarter sales and profit forecasts.

Wafa Jaffery, Senior Executive-Precious Stones at the Dubai Multi-Commodities Center (DMCC) in the United Arab Emirates: "As a proud native of Dubai, with Pakistani roots, my personal identity is deeply intertwined with the city’s rich tapestry of cultures. It’s a blend of which I profoundly feel part of. Unlike many of my peers, I did not inherit a legacy in the diamond trade, nor did I hail from a family steeped in the traditions of diamantaires. Instead, my pathway into the heart of the diamond industry began as a quest for personal and professional fulfillment. It became a journey marked by grit, passion, and a relentless pursuit of success."