Petra Diamonds Ltd. declared that its annual output jumped above 1 million carats, but the African diamond producer added that revenue dipped and trading conditions remained challenging. For full story, click here
Namibia’s central bank governor declared that the diamond-rich southern African nation’s economy will shrink by 0.6 percent in 2009 as mining slows in the global economic slump. For full story, click here
Angola’s law enforcement authorities have deported since the beginning of 2009 more than 6,000 foreign nationals who were caught illegally digging for diamonds in the African country’s northeastern region of Lunda Norte. For full story, click here
In a major move to help the recession-hit diamond industry in Botswana, the African Development Bank has approved a loan of 1.5 billion dollars for the diamond-rich country. For full story, click here
In a major move to help the recession-hit diamond industry in Botswana, the African Development Bank has approved a loan of 1.5 billion dollars for the diamond-rich country. For full story, click here
Botswana, the world’s leading diamond producer, secured a $1.5 billion loan from the African Development Bank, the largest-ever budget support given by the bank, following a dip in exports. Donald Kaberuka, president of the African Development Bank, stated: The case of Botswana illustrates the impact that the financial crisis is having on even the best-managed [...]
Diamond output in South Africa will continue slipping until at least 2011 amid expectations that the global economic recovery will be protracted. For full story, click here
African Aura Resources Ltd. declared that it has entered into a legally binding Letter of Intent with Mano River Resources Inc. to conclude an agreement to merge, in order to create a leading sub-Saharan Africa focused explorer and producer with substantial iron and gold assets. For full story, click here
Production at the Bomboko alluvial diamond mine, in Guinea, would start in April, exploration company West African Diamonds announced on Wednesday. For full story, click here
MD of African Diamonds, James Campbell was quoted as saying: We had a general discussion with Clifford and some of the Gem directors. We get on well with Gem and have great respect for their talents and expertise. We recommended that they approach De Beers. For full news, click here
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