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.
Botswana went into a technical recession between the months of last October and March as the country struggled to sell diamonds, but one economist believes the worst is behind as global economy is showing some green shoots. For full story, click here
What could one day be a large diamond exploration project in northern Larimer County has been stopped in its tracks by the faltering economy. For full story, click here
What could one day be a large diamond exploration project in northern Larimer County has been stopped in its tracks by the faltering economy. For full story, click here
Namibia’s central bank governor declared that the diamond-rich southern African nation’s economy will shrink by 0.6 percent in 2009 as mining slows in the global economic slump. For full story, click here
As the economic recession increased its stronghold on consumers, plunging jewellery sales sent the diamond industry into a tail spin. At the onset of the slowdown, the industry seemed immune, as sales of top tier goods overshadowed the decline in mid-grade diamond sales.
The woes of India’s diamond city Surat reflect a wider downturn for India’s export sector, which accounts for a fifth of Asia’s third largest economy. For full story, click here
In 2008, as the bleak economic outlook deepened, there were significant repercussions for the diamond industry. Early on in the downswing it seemed that the industry would withstand the economic current. However, under close examination it was apparent that a storm was brewing.
With the holiday season behind us, now is the time diamond miners and retailers should have full pockets and empty shelves. However, with the holiday season of ’08 coming on the back of economic catastrophe, countries across the globe are reporting stark numbers for diamond exports and imports.
BOTSWANA has started on a far-sighted overhaul of its economy that will have major implications for its mining industry in general and diamond giant De Beers in particular. Keith Jefferis, MD of Econsult and a former deputy governor of the Bank of Botswana, says: The country’s diamond revenues will peak in 2018 and then drop off sharply. Thanks [...]
Get our independent commentary on diamond trends and companies delivered to your inbox.
