Diamonds

Petra and Trans Hex to size up Finsch

Petra Diamonds and Trans Hex look the most obvious contendors to buy the Finsch diamond mine but De Beers could find these negotiations a lot tougher than those over the sale of its Cullinan mine.

Hollywood enters blood diamond fray

Actress Mia Farrow and her agent will testify in August about a blood diamond given to model Naomi Campbell by Charles Taylor, Liberia's former premier, now up for war crimes.

De Beers mulling bids for mines

De Beers said it had received interest in its Finsch and Namaqualand Mines, both situated in the Northern Cape.

De Beers guarantees Ponahalo deal

De Beers has guaranteed about 56% of the preference shares held by Ponahalo Investments in an effort to stop its R3.7bn, 2006 empowerment transaction from collapse.

De Beers’ Penny quits firm

De Beers CEO, Gareth Penny, ended a five year reign at the helm of the diamond group on Friday even as it unveiled a doubling in pretax earnings, an 84% increase in sales and a doubling in production.

Rough diamond prices could weaken

Rough diamond prices could pull back 5% to 10% in the short-term but the medium-to-long term outlook remains good because of the forecast shortage in supply.

Petra hails ‘step change’ in fortunes

Petra Diamonds declared that for the year ended June it enjoyed "a highly progressive year" helped by a moderate increase in production and much higher prices for gems.

Tawana completes A$660 000 placement

Australian and JSE listed diamond exploration company Tawana Resources has completed the placement of 66 million shares at 1 cent per share to raise A$660 000.

Gem hopeful Letseng meets output target

Amid rising diamond prices, London-listed GEM Diamonds said it hoped to meet full year production targets at its flagship Letseng mine in Lesotho.

Rockwell Q1 revenue up 118pct to C$8.5m

Mid-tier diamond producer Rockwell Diamonds has reported a 118% increase in first quarter revenue from rough diamond sales to C$8.5m from C$3.9m previously.