Diamond Top Stories

Current mining downturn not a ‘normal’ one — Moody’s

The ratings agency expects physical supply/demand imbalance to widen further,…

Moody’s puts 175 energy and mining firms on review as low prices bite

Top miners BHP Billiton, Rio Tinto, Vale and Anglo American…

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Talmora Diamond announces equity financing to raise up to $1,250,000

Talmora Diamond Inc. (CNSX:TAI) is pleased to announce that it proposes to complete a part brokered and part non-brokered private placement of up to 25,000,000 Units, comprised of at least 20,000,000 Hard Dollar Units and up to 5,000,000 Flow-Through Units at $0.05 per Unit, for gross proceeds of up to $1,250,000. The private placement is expected to close not later than May 16, 2011.

Rio Tinto to weather storm of fragile global economy

Rio Tinto , the world's third-largest miner, expects global markets to remain fragile in the near term and sees itself in a strong position to weather any turbulence, its chairman said on Thursday. The company said that it expected little impact on demand for commodities following the earthquake and tsunami disasters in Japan, and said in the long run demand may increase as Japan moved to rebuild.

True North Gems is pleased to announce the completion of the second tranche of its $3.4 million private placement

True North Gems Inc. (the "Company") (TSX VENTURE:TGX) announces that it has completed the second tranche of its previously announced and oversubscribed non-brokered private placement. The second closing is for proceeds of $615,000. The Company issued 6,150,000 units at a price of $0.10 per unit. Each unit is comprised of one common share and one half non-transferable common share purchase warrant, each warrant exercisable for one additional common share for a period of two years at a price of $0.15 per share for year one, and $0.20 per share for year two. Two finders received finders' fees of in the aggregate $21,500 in cash and 215,000 finders' warrants in connection with the closing of this second tranche, each finders' warrant exercisable for one common share for a period of two years at a price of $0.12 per share.

Diamond demand growth boosts Namdeb numbers

Namdeb Diamond Corp said on Thursday that it had moved back into profit as the global recovery stoked demand for its luxury product and it was cautiously optimistic about the market picking up further. Namdeb, Namibia's main diamond producer, is a 50-50 joint venture between De Beers, which is 45 percent owned by mining group Anglo American (AAL.L: Quote), and the country's government.

28 People Arrested in Diamond-Smuggling Ring Bust

Chinese police said they have shut down a Hong Kong-based diamond-smuggling ring, in three months of arrests and confiscations. Twenty eight people were arrested between January and March and diamonds worth $31 million were confiscated, making it one of the largest busts in diamond history.

Stornoway announces 2011 exploration program and budget

Stornoway Diamond Corporation (TSX:SWY) is pleased to announce the2011 exploration budget for the Company's portfolio of diamond exploration projects. Stornoway's flagship property is the 100% owned Renard Diamond Project in north-central Quebec, where a Feasibility Study and an associated Environmental and Social Impact Assessment are on track for completion in the third quarter of this year. Over the upcoming 12 month period Stornoway will also conduct a complementary program of discovery oriented exploration at several additional projects elsewhere within Canadawhere the potential exists for the discovery of new kimberlite camps close to infrastructure. Stornoway has allocated a budget of $5.6m to the 2011 exploration program, to be funded from existing cash resources.