Storm Mountain Diamonds Warns of Imminent Mine Closure Without Government Support

Storm Mountain Diamonds (SMD), the operator of the Kao diamond mine in Butha-Buthe, has warned that without urgent intervention from the Government of Lesotho, it may be forced to shut down operations, resulting in massive job losses and halted local procurement. In a press release dated 13 October 2025, SMD revealed that the global diamond industry is in crisis, with prices having dropped by up to 50 percent from previous levels. The company said its current selling prices are now…Continue reading with a subscriptionSubscribe for full access to every story.Subscribe - M85/monthAlready a subscriber? Sign in Advertisement ...