Diamonds

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.

Deposed Le Riche to fight board coup

FORMER diamond group CEO, Hein le Riche, re-surfaces - spitting mad - ahead of extraordinary AGM to turf out board.

Zim wants mining conducted by state

Zimbabwe would like to have all alluvial diamond mining conducted by the state, says Finance Minister Tendai Biti.

De Beers’ $295m pact set aside

A legal technicality could see De Beers angling for new solutions to antitrust claims in the US after it was found on appeal this week that not all plantiffs could benefit from its $295m settlement trust.

Alrosa underpins positive diamond sentiment

Major Russian diamond producer Alrosa is upbeat on medium-term prospects for the rough diamond market but there are short-term worries over price volatility and the situation at Marange in Zimbabwe.

Namdeb workers to down tools over wages

Workers at diamond producer Namdeb, a 50-50 joint venture between De Beers and the Namibian government, plan to strike from Monday over pay, the company says.