Mining company Rio Tinto declared its financial results for the six months ending June 30, 2009. Revenues dipped by 68 percent to $184 million, which the company attributed to the economic slowdown. For full story, click here
Su-Raj Diamonds and Jewellery Limited declared that its financial performamce for the three months ending June 30, 2009. The company, which delves in diamond and jewellery manufacturing, saw an overall 20 percent surge in its sales to $143.5 million. For full story, click here
The dip in trend in Israeli diamond exports, which began immediately after the financial crisis broke out in September 2008, continued to distress the Israeli industry’s exports throughout the first quarter of 2009, excluding a slight recovery recorded in the past few weeks.For full story, click here
Archangel Diamond Corporation announced that it has now filed its annual financial statements, accompanying MD&A and related CEO and CFO certifications for the financial year ended December 31, 2008 and its interim financial statements, accompanying MD&A and related CEO and CFO certifications for first quarter interim financial statements for the period ended March 31, 2009 [...]
Tahera Diamond Corporation declared that it has entered into a financial advisory agreement with Cormark Securities Inc. in connection with a potential equity or debt financing to raise gross proceeds of between $30 and $40 million to fund the re-commencement of commercial mining operations at the Jericho Diamond Mine, or the direct or indirect sale [...]
Russia’s Alrosa, the world’s second-largest diamond producer, on Friday announced that it has cut its 2009 production plans by a fifth as the global financial slump dents demand for the gems. For full story, click here
Rating agency Crisil has downgraded a majority of diamond processing companies on dwindling earnings outlook for the current financial year. For full story, click here
With a whopping $43 billion of rough and cut diamonds passing through Antwerp, home to some 300 Indian families mainly hailing from Palanpur in Gujarat that are engaged in the trade, this Belgian city’s diamond market is dangerously overdrawn and recovering from the financial meltdown. For full story, click here
Two diamond industry associations in Gujarat have come forward with financial education assistance for the children of jobless diamond workers in the state. Surat Diamond Association secretary Prabhudas Patel, stated: The relief amount would benefit a total of 16,494 children in Surat schools. We have already informed the principals of various schools here that the [...]
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