Diamond Mining News

US jewelry industry now a $65 billion enterprise

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 gives mines 14-day deadline to hand over majority

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 gives foreign firms empowerment ultimatum

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

FLASH: Gem Diamonds earnings up 489 pct

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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.

Kidnappers release Brazilian diamond dealer without ransom

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.

Namibia abandons draconian mine tax plans

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.

DTC Sight Dates 2012

The Diamond Trading Company (DTC) announced the dates of next year's Sights.

LKI Appoints David Wessel Director of Jewelry

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.

Petra Diamonds – Finsch acquisition update

Petra Diamonds is pleased to announce that Ministerial consent in terms of Section 11 of the Mineral and Petroleum Resources Development Act, 2002 (“MPRDA”) has been granted for the cession and transfer of the new order mining right for the Finsch diamond mine in South Africa (“Finsch”) from De Beers Consolidated Mines Limited (“De Beers”) to Afropean Diamonds (Pty) Limited (”Afropean”). Afropean represents Petra’s interests in Finsch; Afropean being owned as to Petra 74% and Petra’s Black Economic Empowerment partners 26%.

Southern Africa: A diamond mine for hotel investors?

Africa’s future is bright. Africa is moving decisively out of recession, and looks set to renew its pre-recession average growth rate of six per cent (African Economic Outlook 2010 and Travel & Tourism Competitiveness Report 2011) due to a move towards market friendly economic framework conditions that have helped to nurture growth (InsightGroup 2011).

Mining industry gives Saara tax ultimatum

Saara Kuugongelwa- Amadhila THE mining industry has given Finance Minister Saara Kuugongelwa-Amadhila until Wednesday to reconsider her intended tax reforms before they alert investors worldwide to “the most devastating elements” of her “proposed

Israel’s Polished Diamond Exports $714 Million in July

Israel’s net polished diamond exports in July totaled $713.8 million, rising 39.4 percent compared to June and by 57.4 percent year-over-year, based on Central Bureau of Statistics figures.

Underground emerald miners in Pakistan face peril

Al Jazeera profiles the dangerous mining work in the Mingora emerald mines in Pakistan. "We work in the jaws of death, but we are poor and don't have a choice. Thank god the owners have been kind enough to give me a job," says one worker in the video. About 150 labourers are employed in at least 16 such mines.

Stellar Diamonds prepares for maiden resource estimates and scoping studies at two flagship projects

Stellar Diamonds (LON:STEL) has hired a mining consultant in preparation for maiden resource estimates at its two flagship projects, it said today.

Belgian Diamond Industry Joins Fight Against Famine in the Horn of Africa

The Antwerp World Diamond Centre (AWDC) is joining the battle against famine in the Horn of Africa and other humanitarian disasters by supporting the Belgian Consortium for Emergency Relief, 1212.

Field assessment of nickel targets on Diamonds North's Amaruk property

Diamonds North Resources Ltd. (TSX VENTURE:DDN) reports that Minerals and Metals Group (MMG) has informed the Company that they have mobilized a field crew to conduct lake-bottom sediment sampling to follow-up on preliminary EM anomalies identified from the survey recently completed on the Amaruk nickel project in Nunavut (see news release July 14, 2010). To view a presentation on the nickel potential at Amaruk visit our website www.diamondsnorth.com.

Kazakhstan could offer investors mining riches

Think of Kazakhstan and thoughts might immediately turn to Borat.

RDI: RDI – Rockwell Diamonds Inc – Unaudited Interim Consolidated Financial

RDI - Rockwell Diamonds Inc - Unaudited Interim Consolidated Financial Statements for the 3 months ended 31 May 2011 Rockwell Diamonds Inc. (A company incorporated in accordance with the laws of British Columbia, Canada) (Incorporation number BCO354545)

BBC: torture in Marange Diamond Fields

Stephane Chardon, the Chair of the Kimberley Process Certification Scheme's (KPCS) powerful Working Group on Monitoring (WGM), convened an emergency teleconference this week a day after the airing of BBC's Panorama investigative television program

Rio Tinto Diamonds Going for Design

Rio Tinto Diamonds is launching a design competition. The competition is aimed at inspiring creativity and innovation across four categories of diamond jewelry design.

Antwerp's Net Rough Exports Double in a Single Month

Belgium's net rough diamond exports soared in July, rising to $444.4 million, up by 41.8% year over year and 127.2% compared to June's net exports.

U.S. Marshals to auction 43.51Ct flawless FI yellow diamond

A 43.51-carat fancy intense yellow diamond that was forfeited to the U.S. government will be auctioned next month. The diamond is a modified rectangular brilliant cut and internally flawless.