Ahead of the JCK Jewelry Show in Las Vegas, new US sales and demand numbers look promising. Imports of both rough and polished stones rose, as well as increased sales numbers from Tiffany & Co. Also, a wrap up of news from diamond mining companies, including the deal between Petra Diamonds and De Beers.
Read the full article: "Signs Diamond Market is Headed Towards..."
Thursday, May 27, 2010
The Kimberley Process (KP), a joint government, diamond industry and NGOs scheme to reduce trade in conflict diamonds, will cover Abbey Chikane’s tour on the notorious Marange diamond field. A ministry of mines official is quoted saying: “We are expecting him to go to Marange. He is set to meet with the Minerals Marketing Corporation [...]
Read the full article: "KP Oversees Chikane’s Marange Diamond..."
Thursday, May 27, 2010
Rio Tinto Ltd (RIO:ASX) is affected by the Zimbabwe government decision to ban diamond exports. Zimbabwean politician, currently serving as Minister of Mines, is quoted saying: “It is true that the government has, with immediate effect, suspended all diamond exports.” Click here to access the entire news
Read the full article: "Rio Affected Over Zimbabwe’s Diamond..."
Wednesday, May 26, 2010
Analysts at J.P. Morgan Chase confirmed that the company has cut its earnings and price targets for many offshore companies such as Diamond Offshore , Ensco Plc. , Noble Corp. , Pride International Inc. , and Transocean Ltd.. Analysts are quoted saying: “While shares of Transocean are increasingly attractive, we still see downside risk. Instead, [...]
Read the full article: "J.P. Morgan Cuts Offshore Drillers"
Wednesday, May 26, 2010
Finance Minister Tendai Biti said that Zimbabwe’s economy is growing faster than the expected for 2010. The country is grateful for the $1 billion foreign investments and some expected donor aid. Biti is quoted saying: “Our growth forecast for this year is 7 percent. We had revised it downwards to 4.8 percent because of lack [...]
Read the full article: "Zimbabwe Sees 7% Growth in 2010 Economy"
Tuesday, May 25, 2010
Namakwa Diamonds Ltd. (NAD), an integrated diamond resource group focused on diamond mining and beneficiation across Southern Africa has announced that the company has already secured a $15-million loan from a private sector at a fixed rate of 8.5 percent per annum. Namakwa’s Chief Executive Nico Kruger is quoted saying: “By securing debt finance at [...]
Read the full article: "Namakwa Secures USD15m Loan From Private..."
Tuesday, May 25, 2010
Sierra Leone is positive that this year is a good for diamond recovery after falling prices in 2009. Exports for Q1 up to May of 2010 stood at $35-million, nearly 25% up on the same period for 2009. Deputy Minister of Mineral Resources Abdul Ignosi Koroma is quoted saying: “Despite the fact that the industry [...]
Read the full article: "Sierra Leone, Diamond Export Recovery is..."
Monday, May 24, 2010
Petra Diamonds has announced the completion of its transaction with Stellar Diamonds for its Kono Project Divestment located in Sierra Leone. The initial announcement was on May 4 when Stellar issued 4.5-million shares to Petra at £0.20 a share. Click here to access the entire Press Release
Read the full article: "Petra and Stellar Completes Kono Transaction"
Monday, May 24, 2010
Diamond mining company Namdeb has reported a loss before taxes of $74 million (NAD 555 million) for 2009. This was due to the global recession where sales revenue fell 40 percent. Namdeb Managing Director, Inge Zaamwani-Kamwi is quoted saying: “Diamond sales revenue at N$ 3, 37 billion is 40% lower than in 2008 as a [...]
Read the full article: "Namdeb Releases 2009 Financial Results"
Friday, May 21, 2010
The news of the sale of the Star of South Africa, which fetched £30 000, and the discovery of more diamonds dispelled all doubts about the region’s potential mineral wealth and brought in a wave of local Boer farmers as well as British, American, Australian, German and Russian diggers and diamond dealers. Click here to [...]
Read the full article: "Mining Weekly reported on South Africa’s..."
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Monday, May 31, 2010