Peregrine Diamonds declared that it is in dispute with joint venture partners, Indicator Minerals and Hunter Exploration, over a diamond exploration program, and filed arbitration action. 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
With the Christmas buying season upon us jewelry companies who would typically have their biggest sales of the year are bracing for disappointing numbers. A study completed this fall by the Harrison Group and American Express Publishing found that of all the luxury categories, jewelry could take the biggest hit in the downturn.
Canada has become a hot bed of diamond mining activities in recent years. Not only are diamond mines in Canada finding top quality gems, Canadian diamonds are increasing in popularity due to the stigma of “conflict diamonds” attached to the gems that come from overseas.
Peregrine Diamonds confirmed the presence of diamonds at its Chidliak property in Canada’s Nunavut Territory. The company’s President Brooke Clements said: The company expects more diamondiferous kimberlites to be discovered at Chidliak in the future. For more information, click here For company’s website, click here
Sunday, July 12, 2009