Diamcor Mining Inc. (CVE:DMI) is a junior diamond mining company focused on the identification, acquisition, and operation of quality projects with the potential for near-term production. Diamcor recently acquired the Krone-Endora at Venetia Project from DeBeers, directly adjacent to DeBeers' flagship Venetia Diamond Mine, the third largest diamond mine in the world.
Global diamond production surged 6.7 percent by value in 2008 despite a slowdown in output by mining companies toward the end of the year. Production increased to $12.7 billion during the year, compared to $11.9 billion in 2007, as per data published by the Kimberley Process on its statistics Website. For full story, click here
BHP Billiton declared that production surged 5 percent to 903,000 carats in the fourth fiscal quarter ending June 30, 2009. For full story, click here
Namakwa Diamonds Limited’s diamond output reached 4,200 carats in the quarter beginning 1 March 2009 representing a quarter-on-quarter surged of 114%. For full story, click here
Research group Frost & Sullivan declared that it has taken a gloomier view than other diamond industry commentators in forecasting a long downturn in commodities demand and SA’s diamond production dipping until 2011. For full story, click here
Israeli diamond tycoon Lev Leviev announced that rough diamond prices rose 10 percent in March compared to February as a result of the drop in production. For full story, click here
Namdeb, a Namibian subsidiary of world diamond mining giant De Beers, reported on Tuesday that it will put its employees involved in diamond mining on paid leave for at least three months to cut costs. For full story, click here
Namdeb, the diamond mining joint-venture of the Namibian government and De Beers, is expecting production to drop by 50 percent in 2009 when compared with 2008. For full story, click here
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.
Petra Diamonds Ltd announced on Monday it is not planning any major production cuts in response to due to decline in demand and prices of gems. For more information, click here
Monday, June 13, 2011