Diamonds could very well represent the next safe haven for investors, much like gold and silver, as investors flee the financial markets for more secure investments.
The diamond industry has been having a unique year.The top jewelry sales time is just around the corner, and not till that milestone is over and the numbers are crunched will companies be able to conclude on the successes and failures of 2008.
The Diamond industry is heading to Hong Kong with high hopes that strong Far East demand will sustain high price levels. The diamond industry concerned that economic hardships in the US will dampen holiday jewelery demand, as Christmas is when jewelers realize the majority of their annual sales.
Gem Diamonds reported that it has embarked on a bankable feasibility study that is expected to pave the way for the construction of the mine in the Central Kgalagadi Game Reserve (CKGR) by early next year. The company said in a statement: The development will be financed by a combination of cash and debt and discussions [...]
Canada’s diamond production is on the rise. According to a report issued by the Mining Association of Canada, production rose 28 percent to 17 million carats in 2007.
BOTSWANA has started on a far-sighted overhaul of its economy that will have major implications for its mining industry in general and diamond giant De Beers in particular. Keith Jefferis, MD of Econsult and a former deputy governor of the Bank of Botswana, says: The country’s diamond revenues will peak in 2018 and then drop off sharply. Thanks [...]
Mining Weekly reported that Trans Hex had entered into exclusive discussions with De Beers Consolidated Mines (DBCM) to “explore options” for the latter’s Namaqualand diamond operation. For full story, click here For Trans Hex’s website, click here
International Samuel Exploration Corp. is a Canadian exploration company actively exploring for base and precious metals in the Reed Lake District of Manitoba and for diamonds in the Canadian Arctic.
The summer market lull has made its mark on July diamond sales in Asia. Japanese polish diamond imports took a marginal 0.9 percent rise to hit $73.96 million. Hong Kong reported July retail sales were flat, with jewelry among the worst performers. July diamond imports from India fell 14.7 percent to $25.56 million. Imports from Belgium rose 8.8 percent to $22.9 million.
Diagem Inc. reports that Brasilia is reviewing the lifting of the Chapadao embargo and it can be lifted in a few weeks. The invalidity of the embargo and related fines have been fully documented and demonstrated by Diagem. The administrative and legal process can be a lengthy one in Brazil but the IBAMA President, Mr Roberto Messias [...]
Tuesday, September 30, 2008