Goldstone Resources Inc. (TSX–GRC) (GRSZF-PK) has announced an update on its Beardmore-Geraldton area exploration in northern Ontario. The focus of the diamond drilling will be at the Key Lake property and is scheduled to begin on June 1. Goldstone is quoted saying: “Historical drilling by Cyprus Amax and Placer Dome in the 80′s and 90′s [...]
De Beers has released its 2009 annual “Report to Society.” It shows the company’s recent sustainability performance and the performance as well of the team players in the entire group of companies. Gareth Penny, chief executive of De Beers is quoted saying: “As we look forward to capitalizing on the opportunities of economic recovery we [...]
Stellar Diamonds PLC, mainly West Africa-focused, has now acquired Petra Diamonds’ Kono kimberlite project in diamond-rich Sierra Leone. Stellar CE Karl Smithson is quoted saying: “This is in line with the company’s growth strategy focused on the development of its kimberlite projects in West Africa. We also welcome Petra as a significant shareholder in Stellar [...]
According to Anglo American Plc., De Beers, the world’s leading diamond producer, slashed first-quarter output by 91 percent, as the world economic slump cut demand for luxury goods. For full story, click here
The country of Botswana, which is the world’s top producer of diamonds, will cut output this year. A dipping demand for gems has persuaded the De Beers and Debswana companies, which control the diamond trade, to produce 15 million carats of diamonds this year compared to 33.6 million carats last year. For full story, click [...]
De Beers, the world’s leading diamond producer, reported that its sales are rising steadily after demand for the diamonds plunged last year. For full story, click here
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
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
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
Angola could become the world’s third biggest diamond producer by 2010 on the back of new mining concessions and strong investment in the industry. For full story, click here
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