Su-Raj Diamonds and Jewellery Limited declared that its financial performamce for the three months ending June 30, 2009. The company, which delves in diamond and jewellery manufacturing, saw an overall 20 percent surge in its sales to $143.5 million. For full story, click here
First fiscal quarter sales ending June 30th 2009 by Su-raj Diamonds and Jewellery was up by 20% to $143.5 million. There was a corresponding surge in profit to $2.5 million, as per a note the company sent to the Bombay Stock Exchange. For full story, click here
De Beers, the world’s largest diamond company, posted the biggest dip in sales of unpolished and uncut gems since at least 1974 after demand crumbled as the U.S., Europe and Japan slid into recession. For full story, click here
Diamond Trading Co Botswana, the sales arm of global diamond major De Beers, has appointed an Indian diamond producer as its sightholder to ensure the sustainability of its diamond manufacturing capacity in the African country. For full story, click here
Gem Diamonds Ltd. declared that first-half sales from its South African and Australian mines were lower due to strong currencies, and that it remained cautious about demand in the United States, but its cash position was strong with no debt. For full story, click here
Petra Diamonds Limited, the international diamond mining group, declared the following sales and output trading update for the year ended 30 June 2009 ahead of the publication of its results during September 2009. For full story, click here
Finally, there is some glittering news for the recession-hit diamond industry. World’s leading diamond group De Beers has announced that it will ramp up diamond output by 80 per cent in the second quarter, in the anticipation that the sales during Christmas this year will be better compared to 2008. For full story, click here
They may be the hardest substances in the world, but even diamonds aren’t immune to the global economic slump. In fact a downturn in sales has led to the biggest cut in diamond mining in modern history. For full story, click here
With a 10 percent raise, net sales for Flawless Diamond amounted to $35.5 million during the quarter that ended March 31, 2009. For full story, click here
Angola may be forced to abandon its currency’s peg to the dollar as the global recession reduces demand for oil and diamonds, the country’s dominant exports, according to Barclays Plc-owned Absa Capital. For full story, click here
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