Metalex Ventures Ltd. reported that an exceptionally large kimberlite pipe, modeled by geophysical consultant Scott Hogg at 500 x 600 meters has been intersected by our core drilling project in Angola. The Company believes that these pipes have been partially eroded, producing the large quantities of alluvial diamonds presently being mined in the river downstream. [...]
In order to encourage diamond mining companies that have been facing the brunt of reduced global demand and prices, the government of Angola is deciding to purchase diamonds from these local mining companies. For full story, click here
The Catoca diamond mine in Angola is expected to generate a $12.8 million profit in 2009 in comparison with $104 million generated in 2008. For full story, click here
Angola may be forced to abandon its currency’s peg to the dollar as the global recession reduces demand for oil and diamonds, the country’s dominant exports, according to Barclays Plc-owned Absa Capital. For full story, click here
Angola’s Catoca mine, the fourth-biggest diamond mine in the world, is to reduce production for this year. For full story, click here
Angola has cancelled a diamond conference on ways to raise output and improve the image of diamond producers due to the impact the global financial crisis is having on diamond prices, the government said. For full story, click here
Global Diamond industry is undergoing a strong transition towards growing demand for "conflict-free" or "violence-free" or ethical diamonds- guaranteed to originate from ethical and environmentally responsible sources. This transition is in response to the growing awareness among people and consumers worldwide about the so called "Blood diamonds"
Angola could become the world’s third biggest diamond producer by 2010 on the back of new mining concessions and strong investment in the industry. For full story, click here
The diamond industry has been having a unique year.The top jewelry sales time is just around the corner, and not till that milestone is over and the numbers are crunched will companies be able to conclude on the successes and failures of 2008.
Canada’s diamond production is on the rise. According to a report issued by the Mining Association of Canada, production rose 28 percent to 17 million carats in 2007.
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