POSTED BY The Editor on October 12th in General News
read morePOSTED BY The Editor on October 10th in General News
The South African diamond cutting industry is in crisis over the short supply of rough diamonds and has convened an industry meeting this month to address the woes that have shrunk the sector.
POSTED BY The Editor on September 30th in General News
Over one million diggers search for diamonds this way in Africa. They make less than a dollar a day, while the global diamond trade nets an estimated $80 billion a year.
POSTED BY The Editor on September 30th in General News
Sept. 29 (Bloomberg) — Harry Winston Diamond Corp. Chief Executive Officer Robert Gannicott says Russian, Chinese and Indian buyers may prop up demand for luxury jewelry as sales to U.S. customers decline amid financial turmoil.
POSTED BY The Editor on September 22nd in General News
IT IS a mere speck on the map, but deep beneath its inhospitable plateaux, nature has gifted Lesotho some of the grandest sparklers in the world.The rich seam of the African enclave’s mines became clear yesterday, after the discovery of a huge gem experts believe could yield the largest polished round diamond in history.
POSTED BY The Editor on September 19th in General News
Squeezed for funds, small and medium diamond exporters are now willing to borrow at a higher spread over the London inter-bank offered rate (libor) to finance their imports of rough diamonds.
The traders are pitching with the commerce ministry and the RBI to raise the cap on borrowing costs to ensure a steadier supply of dollars to them. The dollar loan currently offered to exporters, called the packing credit and foreign currency (PCFC) loan at libor plus a spread of one per cent is used to import raw materials. The diamond industry prefers to access this loan considering that servicing this is far more cost effective than a rupee loan.
POSTED BY The Editor on September 16th in General News
Rockwell Diamonds said Thursday it recovered a 189.6-carat gemstone diamond at its Klipdam mining operation in the Northern Cape Province of South Africa.
POSTED BY The Editor on September 16th in General News
But Alrosa sources say that details of the undertaking and of a meeting Alrosa chief executive Sergei Vybornov had last week with Kabila, should be kept secret.
POSTED BY The Editor on September 16th in General News
All is not well following a decision made by the government of Tanzania to sanction a diamond mining giant De Beers to enter into a contract of selling its shares in Williamson Diamonds Ltd (WDL) to Petra Diamonds Limited (Petra).
POSTED BY The Editor on September 10th in General News
David Linsley wants Nelson Mandela to make money for him. His purchase of a 24-carat black stone named after the former South African president and Nobel laureate was the first for a specialised diamond fund his investment company will start next year.
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