Articles Tagged "diavik"

Supply Shortages May Herald in era of ‘Peak Diamond’

De Beers Chief Gareth Penny has been vocal about supply shortfalls, and a lack of prospects to keep up with increasing demand for diamonds. With the Chinese diamond market exploding and decreasing output from some of the largest mining operations in the world, is the market heading towards “Peak Diamond.”

Diamond Sparkles: Juniors Jump

The discovery of a 507 carat white diamond has proved to be encouraging news, not just for Petra Diamond which discovered the gem, but for the industry as a whole. Improving demand and positive announcements have had Canadian diamond juniors brushing themselves off from last year's crash. The sparkle is back in the investors eye.

Diavik Diamond mine to shut its operations

Production at the Diavik diamond mine announced that it will be stopped twice for a period of six weeks each and the underground mine will be placed on care and maintenance by the third quarter of 2009 once the majority of its construction is complete. Diavik President and Chief Operating Officer Kim Truter stated: Our [...]

Kinross reports acquisition of interest in Diavik Diamond deal

Kinross Gold Corporation declared that it has signed a subscription agreement with Harry Winston Diamond Corporation further to which Kinross will make a net investment of US$150 million in exchange for an indirect interest in the Diavik Diamond Mine in Canada’s Northwest Territories and a 19.9% shareholding in Harry Winston. For full story, click here

Around the globe, diamond exports drop

As economic turmoil spread around the globe in ‘08, the diamond industry lost some of its brilliance. The industry was doing well until about September, then diamond prices and sales went on a steep descent. Diamond prices are down about one-third since their high last August

Global meltdown hits diamond market

Diamond trading activity has witnessed a recent drop-off as buyers face extreme uncertainty about the viability of current price levels. Traders expect the prices of gems to deteriorate in the coming months, but no one has any idea as to how much of a change to expect.

Diamonds – The next safe haven for investors?

Diamonds could very well represent the next safe haven for investors, much like gold and silver, as investors flee the financial markets for more secure investments.

Canada claims a bigger piece of the diamond pie

Canada’s diamond production is on the rise. According to a report issued by the Mining Association of Canada, production rose 28 percent to 17 million carats in 2007.