Rough diamonds (illustrative) Lucara Diamond Corp. will begin trading on the Toronto Stock Exchange as of the market opening on August 29, 2011, under its current trading symbol, LUC, the company announced on Thursday. The diamond company's shares were
Diamond Mining News
Russia's government-owned diamond producer is reporting sales of rough and polished diamonds of $2.2 billion for the first half of 2011.
The recent reports of possible rough diamond shortages due to no major resource discoveries may have been premature. A new source may have been found with only one shortcoming – its distance from any manufacturing center.
As Japanese consumers increase their purchases of high-ticket items, the country's imports of diamonds also reflect a less for more trend. Polished diamond imports in June increased 18.1 percent in value while retreating 37.4 percent by volume compared...
Interfax reports Russia state-owned diamond miner Alrosa is up 22% on the country's trading board for unlisted stocks since it was first quoted there on July 18. The price of US$31,495 per share, implies a market value of $8.6 billion. Alrosa accounts for around 25% of world output and for the full year sales of $4.7 billion is expected. The secretive firm has been feeding the market more information recently in anticipation of a 2012 public offering that seeks to raise up to $3 billion.
24/7 Wall St says the global diamond mining industry may be one of the world’s best-kept secrets and diamond mining is not unlike the oil business, where about 100 massive fields supply about half the world’s oil.
Signet Jewelers Limited reported a 10.8 percent increase in sales to $797.6 million in the second quarter. Same store sales at the world's largest specialty retail jeweler popped 9.9 percent in the period.
A 32.77 carats fancy vivid yellow diamond will be offered at Christie’s Magnificent Jewels auction in New York on October 18. The diamond is expected to find a buyer willing to pay more than $6 million, the auction house believes. According to Christie’s, the diamond's color is highly saturated. “The vivid yellow literally blazes with color, unlike any yellow diamond I’ve ever seen,” said Rahul Kadakia, Christie’s Head of Jewelry for Christie’s Americas.
BHP Billiton, owner of the Ekati diamond mine, reported revenues of $1.01 billion from diamond sales in the fiscal ear ending June 30, 2011, a 12.1 percent increase from the previous year.
MSNBC reports a Georgia dog dined on a meal of $10,000 worth of diamonds.
Mountain Province Diamonds said on Wednesday it is breaking off talks with unspecified parties that showed an interest in the company and is instead focusing on advancing its Gahcho Kué project and to arrange its share of the financing which amounts to some $600 million. Shares in the little-traded company jumped almost 8% on the news.
The Ghana government handed over state-owned Ghana Consolidated Diamonds (GCD) to a new investor, Great Consolidated Diamond Ghana Ltd (GCDGL), at a ceremony held on Tuesday in Akwatia, 80 km northwest of here.
Namdeb is initiating legal action against a number of union officials and unionized workers. The step is the latest in a deteriorating battle between the diamond-mining firm and a group of employees.
The Business Standard reports with gold prices setting new record highs every alternate day, jewellery makers are adopting various methods to minimise its use in diamond jewellery without compromising look and feel. While many have increased mechanisation and reduced manufacturing of hand-made jewellery, others are replacing gold’s weight with diamond to keep investors’ interest intact. Another option is using silver with rhodium plating. Ideally, gold content in diamond jewellery should be 35% in terms of its weight. But, many jewellers have reduced gold content massively in the first half of the calendar year to keep the prices down.
New government data has boosted the size of the U.S. jewelry industry by about 5 percent, restoring it to its former level of $65 billion in the peak sales year of 2007.
Zimbabwe's government has given foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits, state media reported on Friday. However, immediately thereafter the country's central bank governor Gideon Gono launched a scathing attack on the minister responsible for the indigenization policy saying the threats “could irreparably harm the nerve-centre of the recovering economy.” Before a new unity government in 2009 Zimbabwe economy had shrank by as much as half over the preceding decade amid hyperinflation, property seizures and civil unrest. The country is the number two platinum producer in the world and rich in gold and diamonds.
Zimbabwe's government has given foreign firms, including mines and banks, a 14-day ultimatum to submit "acceptable" plans on how they propose to transfer majority shares to locals or risk losing permits
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Production and investment forecasts in the Namibian mining industry: uranium set to overtake diamonds as Namibia's largest foreign currency earner
Research and Markets (http://www.researchandmarkets.com/research/5cb789/production_and_inv) has announced the addition of Frost & Sullivan's new report "Production and Investment Forecasts in the Namibian Mining Industry" to their offering. This research
Kazakhstan looking increasingly attractive to international businesses, investors says GCM Worldwide
Kazakhstan, strategically placed between China and Russia, has a wealth of mineral riches which it is eager to profit from. While Kazakhstan is probably best known for its oil, changes are on the horizon as mining companies flow in searching for copper, gold, zinc and other natural resources.
Brazilian businessman who was kidnapped early yesterday morning was rescued by an off-duty police rank at Hararuni, Soesdyke/Linden Highway, after his abductors released him.
A day after news of an onerous new mining royalty and taxation regime in Peru, Namibia, the world’s biggest miner of offshore diamonds and a top four uranium producer, drops plans for a huge jump in the corporate tax rate for miners and mineral export levies. Deputy Finance Minister Calle Schlettwein said on Wednesday, the country has withdrawn a proposal to increase the tax on non-diamond miners to 44% from 37.5% and will instead propose a windfall tax when international prices for the commodities are high. Namibia was one of 25 countries around the world that recently announced their intentions to increase their take of the mining industry’s profits or impose ownership and other restrictions.
The Diamond Trading Company (DTC) announced the dates of next year's Sights.
David Wessel is Lazare Kaplan International's new Director of Jewelry, the company announced Tuesday.
Stellar is granted an exploration authorization for the Namarana area covering 132 km(2) in Mali, West Africa
Stellar Pacific Ventures announced that it was awarded by the Ministry of Mines of the Republic of Mali, an exploration authorization for the Namarana area which covers over 132 km2. This mineral title was delivered July 22, 2011 to Stellar Pacific Mail SARL, the company's wholly owned (100%) subsidiary in Mali.