As per National union of mineworkers and Petra Diamond’s management, miners at Helem mine in Rustenburg, South Africa are ending their two-week strike over pay. Petra’s group support manager in South Africa, Egbert Klapwijk, said: The company and the union agreed to a wage increase of 18.2% across the board. For more information, click here
Despite cautions of the US economic downturn, in 2008 De Beers has been able to boost rough diamond prices by 16 percent on the back of strong demand. De Beers’ marketing unit The Diamond Trading Company (DTC) has reached this 16 percent increase through incremental raises throughout the year.
The Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) Estimation Best Practices Committee has introduced best practices for reporting Diamond Reserves. The institute’s move is part of an ongoing effort to standardize and improve the Diamond industry’s estimation and reporting norms. For more information, click here
Venues Resources Ltd. entered into a joint venture agreement with Seaward Holdings Pty Ltd in its search for a diamond bearing lamproite pipes north of the Argyle Diamond Mine. For more information, click here For company’s website, click here
Lonrho Mining has agreed to sell its 80 percent holding in the Schmidtsdrift mine to New African Mining (NAM) for $13.35 million. The company said: It decided to divest from Schmidtsdrift in order to focus on the development of Lulo. Click here for full story. Click here for company’s website.
ASX-listed diamond mining company Bonaparte Diamond Mines reported that it has been awarded four new diamond prospecting licenses off the coast of Namibia. Michael Woodborne, Managing Director of Bonaparte Diamond Mines, stated: The development came at a time when the diamond exploration company will start “systematic marine diamond sampling operations for phosphate resource delineation in the Moeb [...]
KMG Diamond Resources reported that it has scrapped its plans to merge with Cape Diamonds. KMG said in a statement: The proposed merger, which was subject to board, shareholder and AIM approvals, would have constituted a reverse takeover by KMG Diamonds of Cape Diamonds. Click here for more information. Click here for KMG’s website.
Supreme Court of India gave permission to reopen the Panna diamond mines and operate under the strict watch of a five-member monitoring committee. For more information, click here
Junior diamond mining companies in South Africa are in talks with the State Diamond Trader to supply up to 10% of their diamond output. Abbey Chikane, the SDT’s chief executive, said last month: The state trader had made acquisitions of 130,000 carats of diamonds from De Beers at an average price of $100 a carat. [...]
Botswana’s government had extended the negotiation period for the AK6 mining licence to September 30. African Diamonds MD James Campbell said: Theoretically, the only way that De Beers would be able to block the development of the mine would be if it was successful in its application for a retention licence, which could delay the [...]
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