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 [...]
Major Diamond suppliers like Diamond Trading Company (DTC), bids at BHP Billiton’s spot market, and major rough diamond suppliers, offering Angolan and DRC goods have raised prices. The DTC raised prices by 4-5 percent on average, estimated at $470-$480 million. The press release is quoted as saying: In the case of the DTC, when comparing [...]
Diamond Management & Technology Consultants, Inc. (DTPI 8.57, +0.48, +5.93%) , has released its fourth quarter and fiscal year 2010 results. According to the press release the firm’s net revenue was $50.3 million as compared with its $45.5 million in the third quarter of fiscal year 2010 and $35.9 million in the fourth quarter of [...]
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 [...]
Petra Diamonds announces its finalized agreement with Stellar Diamonds plc (“Stellar”) to exchange its interest in the Kono Diamond Project (“Kono”) in Sierra Leone for shares in Stellar, the project’s joint venture partner. As a result, Petra will become a 4.45% shareholder in Stellar and Divestment of Petra’s interest in Kono for £900,000, to be [...]
Though there are clear signs of a financial recovery around the world, at what price would there be a recovery for roughs? Is the `new-normal' daunting for the diamond industry?
Tahera Diamond Corp. declared that it will try to raise up to $32 million in an attempt to either reopen its Jericho diamond mine in Canada’s Arctic or sell the asset. For full story, click here
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
The summer market lull has made its mark on July diamond sales in Asia. Japanese polish diamond imports took a marginal 0.9 percent rise to hit $73.96 million. Hong Kong reported July retail sales were flat, with jewelry among the worst performers. July diamond imports from India fell 14.7 percent to $25.56 million. Imports from Belgium rose 8.8 percent to $22.9 million.
Last week ended on a very exciting note for diamond giant De Beers. The official launch of the Snap Lake Mine, Northeast of Yellowknife, and the Victor Mine, in Northeastern Ontario, took place over the weekend.
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