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.
Red tape done in Anglo’s De Beers buyout
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
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
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
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.
De Beers: “Anglo will take good care of us’
De Beers is prepared for its new chapter under Anglo American’s management
but will be treated "differently' than the diversified miner’s other divisions,
according to CEO Philippe Mellier.
Gigaba pours cold water on Alexkor aspirations
State-owned diamond miner Alexkor will not be acquiring new assets outside
South Africa, says Minister of Public Enterprises Malusi Gigaba.