De Beers to post interim loss as discounts inventory diamonds
ANGLO American on Thursday said its diamond and steelmaking coal businesses would be loss-making in the first half of its financial year.
This was owing...
Gem Diamond execs take pay cut as firm unveils restructure
GEM Diamonds is the latest diamond miner to announce restructuring plans owing to a prolonged trough in prices for the luxury product.
The UK-listed miner...
Diamond prices may recover in nick of time for stricken Petra
PRICES for high-value diamonds have increased 10% this year, a promising development for miners of the precious stones who have been under the cosh...
Gemfields shares rise as ruby expansion offsets gloom
GEMFIELDS will commission a second processing plant at its ruby mine Montepuez in Mozambique in September, the company said on Friday.
Shares in the company...
Debswana seeks $6bn for Jwaneng underground project
BOTSWANA'S diamond giant Debswana is exploring international financing options for a $6bn underground mining project at Jwaneng, according to a report by Reuters. The...
Gemfields ruby auction realises $31.7m
GEMFIELDS reported strong demand for fine-quality rubies on Monday despite market turbulence, with its latest mixed-quality ruby auction generating $31.7m in revenue.
"Demand and pricing...
Six consortia show interest in De Beers
DE BEERS has attracted interest from at least six consortia, including commodities billionaire Anil Agarwal, Indian diamond firms and Qatari investment funds, Reuters reported...
Petra Diamonds abandons ‘regular tender cycles’
PETRA Diamonds has abandoned regular diamond tenders in favour of opportunistic sales as the market for unpolished goods continues to struggle.
Commenting in a sales...
Sale of De Beers draws interest from former CEOs: report
ANGLO American's planned sale of De Beers is drawing interest from former CEOs of the diamond mining giant, Bloomberg News reported on Thursday.
The disposal...
Lucapa Diamonds forced into administration as cash dwindles
LUCAPA Diamond's current management has succumbed to years of poor diamond prices announcing on Friday administrators had been appointed to save the company.
KordaMentha Restructuring,...