Articles Tagged "diamond business"

Signs Diamond Market is Headed Towards Recovery

Ahead of the JCK Jewelry Show in Las Vegas, new US sales and demand numbers look promising. Imports of both rough and polished stones rose, as well as increased sales numbers from Tiffany & Co. Also, a wrap up of news from diamond mining companies, including the deal between Petra Diamonds and De Beers.

Namakwa Secures USD15m Loan From Private Investor

Namakwa Diamonds  Ltd. (NAD), an integrated diamond resource group focused on diamond mining and beneficiation across Southern Africa has announced that the company has already secured a $15-million loan from a private sector at a fixed rate of 8.5 percent per annum. Namakwa’s Chief Executive Nico Kruger is quoted saying: “By securing debt finance at [...]

Sierra Leone, Diamond Export Recovery is Likely

Sierra Leone is positive that this year is a good for diamond recovery after falling prices in 2009.  Exports for Q1 up to May of 2010 stood at $35-million, nearly 25% up on the same period for 2009. Deputy Minister of Mineral Resources Abdul Ignosi Koroma is quoted saying: “Despite the fact that the industry [...]

Namdeb Releases 2009 Financial Results

Diamond mining company Namdeb has reported a loss before taxes of $74 million (NAD 555 million) for 2009.  This was due to the global recession where sales revenue fell 40 percent. Namdeb Managing Director, Inge Zaamwani-Kamwi is quoted saying: “Diamond sales revenue at N$ 3, 37 billion is 40% lower than in 2008 as a [...]

Mining Weekly reported on South Africa’s Early Diamond Rush

The news of the sale of the Star of  South Africa, which fetched £30 000, and the discovery of more diamonds dispelled all doubts about the region’s potential mineral wealth and brought in a wave of local Boer farmers as well as British, American, Australian, German and Russian diggers and diamond dealers. Click here to [...]

Petra Diamonds, De Beers Complete Agreement

Petra Diamonds Limited has announced the completion of its acquisition of the mining and association of assets with De Beers Consolidated Mines Limited.  The assets were previously used by De Beers in the operation of the Kimberley Underground diamond mines in Kimberley, South Africa. Petra and De Beers entered into the agreement for the sale [...]

Namdeb Diamond Expects 2010 Recovery

Namibian diamond producer  Namdeb Diamond Corporation (Pty) Ltd (Namdeb)  has reported a decline on consumer demand in 2009 but expects recovery this year. Namdeb is quoted saying: “Consumer demand for diamond jewelry is beginning to recover, driven in part by the strength of the developing markets of China and India.” Click here to access the [...]

Annual ‘Report to Society’ By De Beers Released

De Beers has released its 2009 annual “Report to Society.”  It shows the company’s recent sustainability performance and the performance as well of the team players in the entire group of companies. Gareth Penny, chief executive of De Beers is quoted saying: “As we look forward to capitalizing on the opportunities of economic recovery we [...]

DGSE Companies, Inc. Announces Fiscal Q1 2010 Results

DGSE Companies, Inc. (NYSE Amex:DGC), leading precious metal diamonds and jewelry wholesaler and retailer in the Southwestern United States, has reported a $131,151 loss in the March ending quarter of this year. President and Chief Operating Officer William H. Oyster is quoted saying: “The retail environment remains challenging.  I am pleased to note that the [...]