Tag Archive | "diamond industry"

Stornoway Re-Commences Canadian Grass Roots Diamond Exploration

Tuesday, September 7, 2010

Stornoway Diamond (TSE:SWY) reports an update on activities within  its portfolio of Canadian diamond exploration projects. Currently, Stornoway’s principal focus is the completion of a Feasibility Study at the 50% owned Renard Diamond Project in North Central Quebec, and an associated step-out drill program at Renard (see Stornoway Press releases dated July 22, 2010 and August 26, 2010). [...]

Diamond Miners Ramp Up Production

Tuesday, June 29, 2010

Diamond mining firms looking to cash in on higher prices and increased demand for stones are starting to ramp up production. The one major company that is curtailing operations, De Beers, is cutting production 5 percent per year for 5 years to increase mine life.

Diamond Companies Globally Face Tax Code Changes

Monday, June 14, 2010

As the diamond market slowly returns to pre-crash levels companies looking to increase profitability are calling upon their countries to change tax codes to be more favorable to the diamond market. Other countries that are looking to capitalize on mineral wealth are imposing new tax regulations on mining operations to benefit their nations.

Signs Diamond Market is Headed Towards Recovery

Monday, May 31, 2010

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.

Petra and Stellar Completes Kono Transaction

Monday, May 24, 2010

Petra Diamonds has announced the completion of its transaction with Stellar Diamonds for its Kono Project Divestment located in Sierra Leone.  The initial announcement was on May 4 when Stellar issued 4.5-million shares to Petra at £0.20 a share. Click here to access the entire Press Release

Namdeb Releases 2009 Financial Results

Monday, May 24, 2010

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 [...]

JA Ceased Zimbabwe’s Diamond Exports to Dubai

Tuesday, May 11, 2010

Zimbabwe’s approved rough diamond export to Dubai is raising Jewelers of America’s concern.  To prevent any future problems JA President Matthew A. Runci decided to call Kimberley Process (KP) to not authorize any further shipments of goods originating from the Marange until corrective measure have been taken. The news added the information: Following this development, [...]

Botswana’s Diamond Exports Report for Q1 2010

Tuesday, May 11, 2010

Botswana has exported a total of $476.9 million worth of diamonds in the Q1 of 2010 which is a  48.4 percent decrease compared to how much were exported in 2008. The press release is quoted as saying: More than half of the quarterly exports, $252.6 million, were in January, according to figures released last week [...]

Vaaldiam Pursues Sale of Non-Core Assets

Friday, May 7, 2010

Vaaldiam Mining Inc. (‘Vaaldiam’ or ‘the Company’) (CA:VAA  0.30, -0.01, -1.64%) and Base Iron Ltd. (‘BIL’) (ASX: BSE) announce that BIL successfully completed two key ‘conditions precedent’ for the acquisition of the Kwale Mineral Sands Project from Vaaldiam. This was previously announced in February 2010. The Government of Kenya has approved the transaction after seeing [...]

Edgewater Exploration Acquires Red Back Mining’s Enchi Gold Project, Ghana

Friday, May 7, 2010

Edgewater Exploration Acquires Red Back Mining’s Enchi Gold Project, Ghana Mr. Edward Farrauto, President and CEO of Edgewater Exploration Ltd. (“Edgewater” or the “Company”)(CA:EDW  0.75, +0.14, +22.95%) announces its option agreement with Red Back Mining Inc. (“Red Back”) (CA:RBI  25.30, +0.48, +1.93%). Edgewater will then get an undivided 51% interest in Red Back’s legal and [...]

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