Why are Rio and BHP killing off their diamond divisions when demand is forecast to double by 2020?
The profit margin for diamonds is a far cry from 70% enjoyed by the mining giants' iron ore divisions.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Mali is quickly turning very ugly: Separatists, Islamists seize Timbuktu
Tuareg rebels aided by Islamists ransacked bars, banned Western-style dress and music and called for the imposition of Sharia law.
Prophecy up 4.8% after Southgobi deal puts Mongolian coal back in focus
Prophecy has more than 1.4 billion tonnes of surface minable coal resources at its flagship Chandgana project and is already producing at Ulaan Ovoo in Mongolia.
Ecometals gives Condor Gold buyers more time to come up with money. And not for the first time
Ecometals Limited announced after the market close on Friday that is has been forced to give Ecuador Capital Corporation more time to come up with a final payment of $1,750,000 for its Condor Gold Project in Ecuador.
On White Tiger misses deadline to submit financials, says struggling to account for Century buy
White Tiger Gold (TSX:WTG) is worth only one-tenth of what it was last year and news out late on Friday will do little to restore investor confidence in the Canada-Russia gold miner.
Zimbabwe going swimmingly for Caledonia, but platinum rights in South Africa go missing
Production at Blanket in Zimbabwe doubled and the Toronto-based company said it paid direct and indirect taxes, royalties, licence fees, levies and other monies to the Government of Zimbabwe totalling $13,6 million.
Sources say Polyus Gold’s $1 billion London sale will happen in April. They may want to check with Vlad Putin
Prime minister and president-elect Vladimir Putin heads a government commission that has sweeping authority over foreign investment in companies like Polyus Gold, whose gold reserves are considered strategic by the state.
Harmony Gold digs out of 52-week deep hole as it awaits ‘game-changing’ Wafi-Golpu pre-feasibility
Harmony Gold Mining (NYSE:HMY) traded today at a new 52-week low of $10.58. So far today approximately 1 million shares have been exchanged, as compared to an average 30-day volume of 2.1 million shares.
The Oppenheimers and De Beers are no more. Here’s a 30-year old article that predicted the cartel’s undoing
"An unruly market may undo the work of a giant cartel and of an inspired, decades-long ad campaign."
China’s ‘Coal Miner’s Daughter’ $11 million wedding reception: How the father got the cash to flash
The wedding reception is said to have included live performances by pop stars for the enjoyment of the more than 1,000 guests who stayed at the Ritz Carlton, Marriott, and Hilton 5-star hotels and were flown in on three chartered jets. The bride’s dowry was 6 Ferrari sports cars.
Value of EV battery nickel second highest on record, cobalt at 30-month high
Low LFP-penetration markets, Europe is off to the races in 2025 and US buyers pull forward purchases before subsidies end.
