The global diamond market may be facing a challenging period, but the Kingdom of Lesotho is not sitting idle. In an address at the Africa Down Under conference, in Perth, Prime Minister Sam Matekane unveiled an ambitious dual-track strategy designed to navigate current headwinds, while polishing a new facet of Lesotho's mineral wealth: rare earth elements (REEs). Matekane, a businessman turned politician, admitted that the diamond industry was in a "difficult, transitory period". Prices are at historic lows, demand is being reshaped by synthetic diamonds, and thousands of workers are being retrenched globally. (full story)