Tanzania’s main diamond mine, Williamson, has a potential mine life of over 50 years, although the current mine plan only accounts for 18 years.
Group expects 2013 to be year in which “the death bells ring for the commodity supercycle after its duly noted sunset.”
Increasing interest in diamonds as an asset class should alert the savvy investor to get on board before the idea of diamond investing catches on and prices start to rise.
Growing consumer demand in China and India combined with scarcer supplies will drive the market.
Government vows to pursue both foreigners and locals involved with bad practices in gold and diamond extraction.
For the first time in history, diamond prices are no longer manipulated and are now a product of true market forces.
VIDEO: The precious coloured stones are just as valuable as diamonds.
“I prefer moving from cycle to cycle. Money flows are really the key thing, and a bull market is clearly coming in technology.”
The Argyle Diamond Mine produces more than 90 per cent of the world's pink diamonds.
The flawless 101.73 carat gem set a new world price record.
Unregulated miners in Tanzania are hurting operations and the extraction of high quality tanzanite gems.
Company continues growth trend from last year.
With 1.9 billion carats produced, the continent has mined about $158 billion worth of the gems.
Company also forecast $730 million in sales for the 2014 fiscal year.
Company acquires majority ownership of producing mine.
Company says the rough diamond market continues on a firmer trend.
VIDEO: Authorities also recovered many of the gemstones, a bunch of money and a few luxury cars.
Income generated by the mining sector accounted for 6% of GDP in 2012.
Moves to tighten tax collection and enforcement are a natural accompaniment to more stringent fiscal and local content regimes.
The new scheme is a hybrid regime, including both a minimum royalty and a progressive tax based on profits.
Preliminary data from the Lulo concession in Angola looks promising.
International certification body may suspend country for non-compliance.
Outgoing Xstrata chief won't be sitting still after Glencore takeover.
"A diamond is forever."
How the ETF works, how it benefits investors and why now is a good time to get involved in the diamond industry.
Mine life will be extended until 2020 at minimum.
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