Diamonds

Petra Diamonds profit dips, sees volatile prices

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Petra Diamonds says core profit has fallen 5.4% in the year to end-June as higher rough diamond prices outweighs a decline in production and rising costs.

State-owned Alexkor posts operating profit

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State-owned diamond miner Alexkor has posted its first gross operating profit in five years, says Deputy Public Enterprises Minister Ben Martins.

Petra upbeat on diamond fundamentals

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Petra Diamonds says the diamond market may face some choppy waters for the foreseeable future, but that industry fundamentals will continue to support record prices.

Botswana reshapes the diamond business

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Botswana is staking its claim to be the world's most important diamond centre through a radical overhaul of its relationship with De Beers.

De Beers signs 10-year Debswana deal

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De Beers, the diamond miner and marketer in which Anglo American has a 45% stake, has signed a long-term contract with Botswana's Debswana.

Rockwell wants Sandile Zungu to cough up

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New theme tune at Rockwell's head office has to be Bruce Springsteen's "pay me my money down" as CEO James Campbell goes after BEE partner Sandile Zungu for money owed.

Zim miners forced to build own power

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A handful of diamond mining companies affected by crippling power cuts in Zimbabwe have been forced to set up their own dedicated R36m power line

Namakwa may get $30m credit back

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Namakwa Diamonds, which owns Africa’s largest undeveloped diamond mine, is in discussions with its lender to reinstate a $30m credit line.

Namakwa shares plunge on review

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Namakwa Diamonds has plunged by 61.3% to 10.5p per share in London on after delivering a radical strategic review, reports the Financial Times.

De Beers SA sees 6.5 mln carats for 2011

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De Beers expects its SA business to produce 6.5 million carats in 2011, a million less than 2010 as the effects of mine disposals filter down, says the division's CEO.