Facing slowing global demand for diamond jewellery, international diamond companies are reshaping marketing campaigns to tap a growing pool of independent female spenders in China, the world's second largest economy.
Anglo American's diamond unit De Beers will keep its diamond exploration budget steady at $35 million in 2017, the company said, although it has turned to new technology to try to improve the rate of discoveries.
The Russian Direct Investment Fund (RDIF) and its co-investors, including sovereign funds in the Middle East and Asia, have bought about half of the shares in state-controlled diamond miner Alrosa offered in a placing.
Russian miner Alrosa, the world's largest producer of rough diamonds in carat terms, sees global demand for diamonds rising by up to 2 percent in 2016, it said on Tuesday, after reporting record quarterly profits.
Mining group Anglo American has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch.