India’s new proposed budget was met with mixed reactions by the local diamond and jewelry industry. The budget, as per Finance Minister Pranab Mukherjee, aims to generate a 9 percent growth rate, partially by dramatically surging government spending. For full story, click here
Russia’s State Precious Metals and Gemstones Repository has earmarked $467.23 million to purchase diamonds from producers in 2009, according to Interfax. 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 [...]
VIPR Industries Inc. declared that it has received and is reviewing a budget towards the commencement of mining operations on the Mwamagunguli Diamond Mine, which the company presently has an ownership interest in. For full story, click here
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