Gemfields to post $24.6m interim loss on lower sales
GEMFIELDS expects to report an interim loss of $24.6m (R435.8m) following disrupted emerald production and less premium rubies mined.
In a trading statement ahead of...
GEM Diamonds cuts Letseng workforce by fifth
LESOTHO'S largest diamond mine has laid off 240 workers – a fifth of its staff – as plummeting gem prices and weak global demand...
Botswana enlists Lazard for ambitious De Beers takeover
BOTSWANA has appointed Lazard to advise on acquiring control of diamond giant De Beers, following Qatar's recent $12bn investment pledge to the southern African...
Angola goes for it to boost diamond production
ANGOLA is making good progress on its ambition to become one of the world’s top three diamond producing nations by 2027 according to two...
Anglo favours De Beers buyer with industry experience
WHEN Gareth Penny ended his 22-year career at De Beers in 2010, the company was only just emerging from the tumult of the global...
De Beers discovers kimberlite in Angola three years after return
DE Beers has made its first kimberlite discovery in Angola for thirty years, said Reuters citing an announcement from the Anglo American subsidiary on...
Gemfields sells iconic luxury brand Fabergé for $50m
GEMFIELDS is to sell iconic jewellery brand Fabergé for $50m in a development that helps bolster the miner's under-pressure balance sheet.
The buyer is US-based...
Petra Diamonds survives after securing deal with lenders
PETRA Diamonds on Friday announced it had agreed with noteholders and lenders to refinance the company – an emergency measure that will also involve...
Anglo negotiating with Botswana for increased stake in De Beers
ANGLO American said it was negotiating with the Botswana government to increase its 15% stake in De Beers ahead of selling the business, which...
Anglo warned against De Beers firesale
IT would be a "mistake" for Anglo American to sell De Beers "at a deep discount in the midst of the diamond market lull",...