Botswana holds a 15% stake in De Beers, valued at $2.5 billion, but hasn’t revealed its planned interest increase.
De Beers rough diamond production decreased by 26% to 5.8 million carats in 2024.
Critical Metals will issue 4.5 million shares with an offer of $5.00 per share, a significant discount (over 43%) to its opening price Thursday.
The diamond giant has faced multiple headwinds in recent years.
The Alacran project is pegged as the Colombia's next major copper-gold mine.
The raw materials bill for the average EV is now down to $510 compared to a peak of more than $1,900 at the beginning of last year.
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Chilean conglomerate CAP, which has invested $80 million in the company's Penco project, will become a new shareholder.
Environmental permit application includes ending the use of domestic land-based water at the mine in 2035.
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
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