The country’s leading iron ore producer, NMDC, is likely to restart mining operations at the Panna diamond reserves in Madhya Pradesh by August 15 and is currently undertaking trial runs at the site. For full story, click here
Botswana sightholder Rand Diamonds, a subsidiary of US luxury jewelry retailer Tiffany & Co., has stated that it will go ahead with expansion plans of its Botswana diamond operations. For full story, click here
The JSE’s six small diamond miners have found various ways to stay afloat during the recent period of collapsing rough diamond prices — cutting costs, retrenching workers and suspending operations and exploration. For full story, click here
The diamond-cutting and polishing industry in Surat is regaining its lost sparkle. Around 500 more units in the diamond city have resumed operations in the past month, as a result of which diamond units are looking for workers again. CP Vanani, president, Surat Diamond Association, stated: Surat had 2,500 to 3,000 diamond-cutting and polishing units [...]
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 [...]
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.
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.
Rockwell Diamonds Inc. provides an update on the commissioning of the new Saxendrift wet rotary pan plant and announces plans to extend the normal year end operational shutdown period of its South African alluvial diamond mines to conserve cash. For full story, click here
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