As economic turmoil spread around the globe in ‘08, the diamond industry lost some of its brilliance. The industry was doing well until about September, then diamond prices and sales went on a steep descent. Diamond prices are down about one-third since their high last August
When 2008 started off, the world’s mining industry was in the mist of a boom, with never before seen prices being fetched for most of the metals, and miners raking in profits. With the way 2008 came to a close, it is hard to imagine that this was the scene just months earlier.
BHP Billiton temporarily cuts output at 60 pct-owned Samancor operation. For full story, click here
The government of Botswana has approved environmental impact assessment for the proposed Gope diamond mine in Botswana’s Central Kalahari Game Reserve. For full story, click here
A team of Botswana government officials who left Gaborone to discuss prospects of the diamond industry with De Beers in London, were shocked by the news that De Beers might not transfer its DTC diamond aggregation to Gaborone as formerly planned. For full story, click here
Is diamond time’s definition of coal? That is what wise men say. But diamond workers and traders do not believe diamond is just a chunk of coal that is made good under pressure. For full story, click here
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