Diamonds

Petra lifts SA mines stakes in R132m deal

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Petra Diamonds earmarks 2.2 million carats in diamond production for this year and says it has lifted its interest in seven of its South African mines.

De Beers coy on 2012’s prospects

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De Beers CEO Philippe Mellier is cautious over the diamond market’s near-term prospects, saying the group will prioritise maintenance backlogs and waste stripping this year.

Diamond prices have stabilised, says Petra

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Rough diamond prices have now stabilised, according to Petra CEO Johan Dippenaar, but Numis Securities reckons the drop in the second half of 2011 was worse than expected.

DiamondCorp revises cost of Lace mine

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The Lace diamond mine being developed near Kroonstad in the Free State is going to cost 11% more than planned, but forecast initial revenues should more than double.

Trans Hex ‘tying loose ends’ in Namaqua deal

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Trans Hex says it is still finalising certain aspects of its proposed takeover of De Beers' Namaqualand Mines.

De Beers appoints new CFO

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De Beers has announced the appointment of Gareth Mostyn as the company's chief financial officer.

Angola to boost diamond output in 2012

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Angola's state-owned diamond firm Endiama expects to increase production this year after posting revenue growth in 2011, reports state news agency Angop.

Zungu committed to Rockwell, deal imminent

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Rockwell Diamonds and Sandile Zungu's African Vanguard Resources are close to finalising a restructuring of their business relationship.

Anglo shareholders back De Beers deal

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Shareholders in Anglo American have approved the global miner's $5.1bn acquisition of an additional 40% stake in De Beers.

Petra’s blue diamond fetches record price

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Petra Diamonds says it has sold a blue diamond mined in SA for a record $300 000 a carat.