DIAMONDS AND GEMS

Australian Wet season impacts Argyle diamond production

Tuesday , 17 Jan 2012
The Argyle diamond mine, long a dominant force in the global diamond market saw production drop 14% year on year during the last quarter of 2011.

Investment diamonds shine in 2011

Friday , 13 Jan 2012
Investment diamonds appreciated a sparkling 20% in 2011 and the market fundamentals continue to remain robust

China announces its largest rough diamond discovery in 30 years

Friday , 13 Jan 2012
The Liaoning province's Geology and Minerals Exploration Bureau has announced the discovery of a million carat rough diamond deposit and claims the diamonds are purer than those found in South Africa

The end of an era for De Beers

Friday , 06 Jan 2012
In an unsurprising result, 99.94% of shareholders voted in favour of Anglo American's $5.1bn acquisition of De Beers, the miner hopes to conclude the deal in the second half of 2012.

China returns 12 Indian diamantaires accused of smuggling to India

Tuesday , 03 Jan 2012
A Shenzhen court has deported 12 Indian diamond traders detained in China on charges of smuggling diamonds worth $7.3 million.

Petra sells 4.8 carat blue diamond for $1.45mn

Wednesday , 21 Dec 2011
The African-focused diamond miner has sold its 4.8 carat blue diamond, produced from South Africa's famous Cullinan mine, for $1.45 million.

BHP sells Chidliak project stake to Peregrine Diamonds

Tuesday , 20 Dec 2011
Less than a month after announcing a review of its diamond assets, BHP Billiton will sell its majority stake in the Chidliak exploration project in Canada to partner Peregrine Diamonds.

Diamond appetite to outpace supply growth to 2020 - Bain

Tuesday , 06 Dec 2011
Management consulting firm, Bain & Company, said Tuesday in a report that demand for diamonds will grow 6.6% CAGR to 2020, boosted by Asian demand.

Global Witness calls 'blood diamond' scheme a failure, pulls out

Monday , 05 Dec 2011
The Kimberley Process diamond watchdog has come under attack from NGO Global Witness calling it a failure and has withdrawn from being an official observer.

BHP thinking of selling diamond assets

Tuesday , 29 Nov 2011
The transnational miner said Tuesday it is considering whether or not a continued presence in the diamond industry is consistent with its strategy.

Diamonds a thing of the past for Oppenheimers

Tuesday , 22 Nov 2011
A look at some of the reasons behind the Oppenheimer family's decision to sell their 40% stake in De Beers to Anglo American and what they plan to do next.

C$802 million pricetag to build Stornoway diamond mine

Wednesday , 16 Nov 2011
Stornoway made headway on its Renard diamond project in a remote corner of Quebec in releasing the results of a positive feasibility study.

Graff Diamonds looks to raise $1bn in Hong Kong IPO

Wednesday , 09 Nov 2011
According to a source close to the deal, the London-based diamond business is looking to raise about $1 billion in a Hong Kong IPO planned for next year to help fund the firm's expansion in the booming Asian market.

De Beers deal good news for Anglo - RBC

Tuesday , 08 Nov 2011
With demand for diamonds expected to grow, particularly in Asia, Anglo American's $5.1bn purchase of the Oppenheimer's stake in De Beers has met with approval from analysts.

For the Oppenheimers, diamonds are not forever

Friday , 04 Nov 2011
For South Africa's Oppenheimer family, today's buyout offer from Anglo American brings to a close an involvement with the diamond producer that began in 1927.

Anglo American to buy Oppenheimer's De Beers stake

Friday , 04 Nov 2011
Anglo American is to pay $5.1bn for the Oppenheimer's 40% stake in De Beers, raising the group's stake in the diamond producer to 85% and ending the family's almost century-long link to the diamond business.

Zimbabwe diamond sales a necessary compromise - US

Thursday , 03 Nov 2011
The United States says its decision to abstain from Tuesday’s vote allowing Zimbabwe to export diamonds from its controversial Marange fields was in fact a compromise, and hopes Mugabe's government will live up to its commitments under the Kimberley Process.

Zimbabwe given go-ahead to sell Marange diamonds

Wednesday , 02 Nov 2011
The World Diamond Council said Tuesday the US, Canada and the EU had finally dropped their objections to the sale of diamonds from Zimbabwe's controversial Marange fields, following verification by the Kimberley Process.

De Beers signs $2 bn debt refinancing deal

Tuesday , 01 Nov 2011
De Beers' newly signed $2 billion debt deal will be used to refinance an existing $3 billion multicurrency revolving facility and a $200 million loan agreement.

Tanzania's mining sector down in 2011 - need to address production constraints

Friday , 21 Oct 2011
Mining growth in Tanzania slumped in two consecutive quarters this year due to uncertainty over government policies, a prolonged power crisis and infrastructure constraints, a senior mining official said on Thursday.

Alrosa to raise $400 mln in bonds to fund deal with VTB

Tuesday , 18 Oct 2011
The diamond miner plans to raise $400 million in bonds to buy back its oil and gas assets Geotransgas and Urengoy from the country's second largest lender VTB for a total $1 billion.

Indian diamond exporters undaunted by slowdown in US

Tuesday , 11 Oct 2011
While consumers in the US and Europe are questioning the value of gold jewellery given the rapid scale up of gold prices, Indian diamond exporters are moving into new and growing markets.

Rio Tinto to surrender 51% stake in Zimbabwe diamond unit

Monday , 10 Oct 2011
According to Zimbabwean state media, the miner has told the Zimbabwean government it will give a 51% stake in its Murowa diamond unit to locals as part of the country's local ownership law.

Global rough diamond growth to set new record this year - De Beers

Monday , 19 Sep 2011
The diamond producer expects global demand growth for rough diamonds to set a new record this year on the exceptionally strong performance of its key U.S. market and robust demand in China and India.

Petra Diamonds profit falls 5.4% to end June; sees volatile prices

Monday , 19 Sep 2011
The diamond miner's core profit to end June 2011 fell 5.4% as higher rough diamond prices outweighed a decline in output and rising costs.

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