Storm Mountain Diamonds Confirms Job Cuts as Prices Stay Low

Storm Mountain Diamonds (SMD), operator of the Kao Mine, has warned employees that the company is being forced into painful cost-cutting measures as the global diamond market shows no sign of recovery. In a memo dated 8 September 2025, the Chairman of the Board, Robert Cowley, said low diamond prices now appear to be permanent and the company must adapt. Cowley confirmed that although the company had completed its high-pressure grinding roll (HPGR) expansion project to improve efficiency, SMD could…Continue reading with a subscriptionSubscribe for full access to every story.Subscribe - M85/monthAlready a subscriber? Sign in Advertisement ...