DTC sales channel not threatened by Botswana shift
De Beers’ Diamond Trading Company says sightholders will flock to Botswana
once sights are held there in about a year’s time, according to group CEO
Philippe Mellier.
Trans Hex, De Beers rewrite Namaqualand deal
De Beers will continue to hold one mining right and the majority of the
environmental liability once its transaction with Trans Hex over the sale of
Namaqualand Mines is concluded.
Petra to cast net wide for “fissure mine’ buyers
Johan Dippenaar, Petra Diamonds CEO, says the non-core fissure mines have up
to 12 years of life left, with a deal to be finalised within months.
Gem orders capex review as market fades
Gem Diamonds, the London-listed diamond group operating in Lesotho, said it
would reconsider its capital expenditure plans amid weaker prices for diamonds.
Botswana passes on $1.26bn De Beers rights
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
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
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
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
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
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.