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News
SEC Accuses Lugano Founder of Alleged $1bn Diamond Fraud
6+ hour, 57+ min ago (550+ words) (IDEX Online) - The US Securities and Exchange Commission (SEC) has accused Mordechai Ferder, founder of the luxury Lugano jewelry company based in California, of orchestrating an alleged fraud in which investors were persuaded to put hundreds of millions of dollars…...
De Beers: Botswana Seeks Gulf Help to Buy Reduced Stake
3+ mon, 5+ hour ago (239+ words) (IDEX Online) - Botswana is reportedly seeking financial help from UAE and Oman to buy a reduced stake in De Beers. It had been aiming for overall control of the loss-making miner, but has scaled back its ambitions amid the worst…...
High-Value Stones Boost Gem Diamonds' Revenue
3+ mon, 2+ week ago (259+ words) (IDEX Online) - Gem Diamonds reported higher revenue for Q1 2026, driven by large, high‑value recoveries, even though the total volume of rough sold was lower than usual. The company reported total revenue of $32.1 million for the quarter, which includes an exceptional…...
Diamond Slump: S&P Downgrades Botswana, Again
5+ mon, 3+ week ago (266+ words) (IDEX Online) - Botswana's credit rating has been downgraded for the second time in six months by the ratings agency S&P Global, in response to ongoing weak global demand for diamonds. The world's second biggest diamond producer had held steady…...
Union Opposes Liquidation after Ekapa Mining Tragedy
5+ mon, 3+ week ago (349+ words) (IDEX Online) - A mining union in South Africa is trying to halt the liquidation of the Ekapa mine, following a disaster that is feared to have claimed the lives of five workers. It's concerned that the mine will abandon efforts…...