South Africa’s Diamond Industry hit hard by Bad Economic Environment
The diamond industry has been severely hit by the difficult global economic environment, the world’s leading diamond producer De Beers. For full story, click here
Articles Tagged "africa"
South Africa has reviewed Diamond Trader Model
South Africa is reviewing the model for the State Diamond Trader after the number of gem polishers in the country dipped to 800 from 2,500. For full story, click here
DIL has struck a deal to directly procure diamonds from Nambia
Diamond India recently struck a deal with a miner in Namibia, to directly source diamonds, establishing the first ever such deal in India. DIL is the Indian consortium made up of 60 large and medium sized diamond exporters of the country, who would previously purchased diamonds from Antwerp; Antwerp would source the diamonds from Russia, [...]
South Africa’s Diamond Output slipped 62.4% in May
South Africa’s diamond production slipped 62.4 percent in May, compared to a year earlier, according to a report by Statistics South Africa. The country’s total mineral production for the month dipped 14.5 percent, with gold production down 10.5 percent and combined non-gold production decreasing 15 percent, year on year. For full story, click here
BRC Diamondcore will appeal Liquidation Order
Troubled diamond exploration company BRC Diamondcore declared that it would be appealing the order handed down in the Northern Cape High Court for the liquidation of the TSX- and JSE-listed company’s wholly owned Diamond Core Resource subsidiary in South Africa. For full story, click here
South African Govt. and Diamond Miners have backed Anglo’s Rejection of Xstrata’s Proposed Merger
According to Mining Weekly, the National Union of Mineworkers, the Solidarity labor union and South Africa’s new Mining Minister have all backed outright rejection of diamond miner Xstrata’s “merger of equals” plan. For full story, click here
South Africa’s Diamond Output- 65%
South Africa’s diamond output slipped 62 percent by volume in April 2009 compared with one year ago, according to a report by Statistics South Africa. For full story, click here
Slump in Diamond sales could hurt Africa
They may be the hardest substances in the world, but even diamonds aren’t immune to the global economic slump. In fact a downturn in sales has led to the biggest cut in diamond mining in modern history. For full story, click here
Diamond sold for record $9.4 mln in South Africa
A seven-carat blue diamond discovered at the Cullinan diamond mine near Pretoria has been sold in Geneva for a record price of nearly U.S. $9.5 million. For full story, click here
Petra Diamonds agreed to acquire about 4.1 million shares
Petra Diamonds, the AIM-listed mid-tier diamond exploration, development and production with all of its operations in southern Africa announced that three of its senior directors had agreed to acquire about 4.1 million shares in Petra from BHP Billiton. For full story, click here
