Diamonds

Botswana passes on $1.26bn De Beers rights

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Anglo American says its has lifted its stake in De Beers from 40% to 85% after the Botswana government passed on its pre-emptive rights worth $1.26bn.

DiamondCorp loan approved for Free State mine

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DiamondCorp said it hoped to strengthen funding for its Lace mine development following inquiries for offtake from diamond buyers.

Cash-strapped cutters embrace De Beers offer

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A lack of bank liquidity and difficult trading conditions means sightholders are likely to jump at the chance of deferring up to 50% of rough diamond sales, says De Beers CEO Philippe Mellier.

Zim revenue slide blamed on Marange leakage

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Zimbabwe finance minister Tendai Biti said the slide in the country's first half revenue figures was owing to the country not getting its pound of flesh from the controversial Marange diamond fields.

Rockwell sets about Tirisano restructuring

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Rockwell Diamonds may retrench a substantial number of employees at its Tirisano mine, where a diamond processing plant will also be placed on care and maintenance, says CEO James Campbell.

Botswana may pass on $1.26bn De Beers pre-empt

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The government of Botswana has the right to buy its pro-rata stake in De Beers from the Oppenheimer family, but it's thought it need not bother with the $500m expense.

Red tape done in Anglo’s De Beers buyout

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Anglo American says its $5.1bn buyout of the Oppenheimer family’s 40% stake in De Beers has received all the necessary regulatory approvals.

De Beers defers June rough diamond sales 50pc

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The question is whether an uninspired market will be able to mop up the deferred sales later in the year which is shaping up to show a 7% decline in diamond sales for De Beers.

Diamonds are still forever

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Graff Diamonds’ decision earlier this month to halt its Hong Kong listing provides some insight regarding business confidence in Asia currently. The diamond market, however, is only taking a breather.

Trans Hex in another Angolan deadlock

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JSE-listed diamond producer Trans Hex’s latest standoff with an Angolan partner centres on expansion funding for its remaining operating asset in that country.