Petra Diamonds Ltd., a miner of the gems in Africa announced its plans to sell its first cut and polished stone at Sotheby’s in an auction that it estimates will fetch as much as $8.5 million. For full story, click here
Production at the Diavik diamond mine announced that it will be stopped twice for a period of six weeks each and the underground mine will be placed on care and maintenance by the third quarter of 2009 once the majority of its construction is complete. Diavik President and Chief Operating Officer Kim Truter stated: Our [...]
Diamond miner DiamondCorp reported that it believes its second phase of development at the Lace diamond mine near Kroonstad will be profitable at current prices after signs of an improvement in prices at its latest tender. DiamondCorp MD Paul Loudon stated: We are starting to see some stability returning to the market for small diamonds [...]
With a whopping $43 billion of rough and cut diamonds passing through Antwerp, home to some 300 Indian families mainly hailing from Palanpur in Gujarat that are engaged in the trade, this Belgian city’s diamond market is dangerously overdrawn and recovering from the financial meltdown. For full story, click here
Israeli diamond tycoon Lev Leviev announced that rough diamond prices rose 10 percent in March compared to February as a result of the drop in production. For full story, click here
Diamond mining and exploration company Firestone Diamonds Plc revealed that it expects annual revenue of up to $30 million from the high grade and diamond values recovered from a kimberlite site in Botswana. For full story, click here
The Israel Diamond Institute Group of Companies unveiled that it has promoted Orna Chait as its Deputy Managing Director and Chief Information Officer, entrusting her with the portfolio of managing the Information Technology and online services of the IDI Group of Companies. For full story, click here
Moody reported that a possible sharp hike in public debt and lower revenue due to persistant slump in diamond demand could put Botswana credit ratings at risk for downgrade. For full story, click here
Flawless Diamond India unveiled that it will consolidate its retail business of designer gem and jewellery as a cost cutting measure. For full story, click here
DiamonEx Limited reported to have agreed to sell 80 percent of its holding in DiamonEx Botswana Limited to Fleming Asset Management Botswana. In Addition, DiamonEx will transfer its diamond exploration tenure in the U.S. to the buyers. For full story, click here
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