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.
Mexivada reported it has begun mining diamonds near Koidu Town, Sierra Leone. Mexivada also stated in its announcement that its partners have received a second artisanal mining license for diamond mining, which covers a one-acre site adjoining the first licensed area. For full story, click here
Angola is considering acquiring diamonds from private companies operating in the country to help them overcome a sharp drop in prices, the a spokesman for state diamond company Empresa Nacional de Diamantes de Angola For full story, click here
India’s Gems and Jewellery (GJ) industry led predominantly by processing and gold consumption is losing lustre due to ongoing economic meltdown, according to a report. For full story, click here
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
When 2008 started off, the world’s mining industry was in the mist of a boom, with never before seen prices being fetched for most of the metals, and miners raking in profits. With the way 2008 came to a close, it is hard to imagine that this was the scene just months earlier.
Venezuela plans to seek out foreign partners for diamond mining ventures as part of a plan to industrialize the mineral-production process, the minister of basic industries and mining said. For full story, click here
Houston Lake Mining Inc., an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that the Phase II 22 hole, 2,232m (7,321 ft.) diamond drill program has been completed in the vicinity of the Shaft Zone. For full story, click here
Houston Lake Mining Inc., an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that the Phase II 22 hole, 2,232m (7,321 ft.) diamond drill program has been completed in the vicinity of the Shaft Zone. For full story, click here
Houston Lake Mining Inc., an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce that the Phase II 22 hole, 2,232m (7,321 ft.) diamond drill program has been completed in the vicinity of the Shaft Zone. For full story, click here
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