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 "beers"
De Beers will surge roughs’ prices again
De Beers, which accounts for 40 per cent of the world’s supply of rough diamonds, is likely to surge prices again next month. The company is also lining up a promotional effort ahead of the Christmas season, traditionally a buying time for diamond purchases. For full story, click here
De Beers in 99% Loss as Diamonds Lose Their Glitter
The world’s leading diamond producer, De Beers, has reported a 99-percent dip in net profits for the first half of 2009 to just $3 million after demand for luxury goods was hard hit by the international recession. For full story, click here
De Beers Sales have slipped most since 1974 on Gem Diamond
De Beers, the world’s largest diamond company, posted the biggest dip in sales of unpolished and uncut gems since at least 1974 after demand crumbled as the U.S., Europe and Japan slid into recession. For full story, click here
Giant Diamond Miner De Beers and NUM agreed 9% Wage Surge
Mining Weekly has quoted an announcement by diamond mining giant De Beers on Friday that the National Union of Mineworkers and diamond giant De Beers Consolidated Mines Limited have reached a wage agreement. For full story, click here
Indian Diamond Company has come to Botswana Rescue
Diamond Trading Co Botswana, the sales arm of global diamond major De Beers, has appointed an Indian diamond producer as its sightholder to ensure the sustainability of its diamond manufacturing capacity in the African country. For full story, click here
De Beers: Diamond Mining, sales will grow up this year
De Beers has remained optimistic about the future prospects of the diamond industry during 2009, and is expecting the Christmas season to be “in line with if not better than last year”. For full story, click here
Industry has welcomed proposed parrallel diamond trading channel
In a popular move in the diamond industry, the government is going ahead with its plans to create a parallel trading platform alongside the Diamond Trading Company, the existing marketing arrangement with De Beers. For full story, click here
De Beers has started to sense a return of Confidence
The headline on the front page of The Financial Times a couple of months ago read “De Beers braced for plunge in turnover”. The world’s leading diamond miner has hit hard by the recession, was planning to halve its turnover in the year ahead, having already cut output by 40 per cent and mothballed its [...]
De Beers will ramp up diamond production
Finally, there is some glittering news for the recession-hit diamond industry. World’s leading diamond group De Beers has declared that it will ramp up diamond production by 80 per cent in the second quarter, in the anticipation that the sales during Christmas this year will be better compared to 2008. Chandrakant Sanghavi, regional chairman, Gems [...]
