Global polished diamond prices rebounded to their highest level in 19 months during June. The IDEX Online Polished Diamond Price Index rose to 117.2 for June; it last stood at this level near the end of 2008. June’s IDEX Online Index indicates that diamond prices have recovered almost half of their precipitous decline that occurred [...]
Zimbabwe mines minister Obert Mpofu claimed that his country’s cabinet, as well as Israel and the European Union (EU), approved diamond sales from the country. And government agency says it already sold $23m worth in 2010. “It was clear from the meeting that the cabinet agrees with the immediate sale of our diamonds,” he told [...]
State-run diamond miner Alrosa on 26 May 2010 said that it might become a “people’s company” by raising funds through a share issue to the public, although analysts cautioned that previous state IPOs may have soured retail investors to the idea.Alrosa will change its legal status, becoming a joint-stock company, and may sell shares to [...]
De Beers Canada has cancelled its four-week December production shutdown at the Snap Lake Diamond mine. The news comes two weeks after Rio Tinto, majority owner of the Diavik diamond mine, cancelled its own winter shutdown. “We’ve met with all of our employees on site and in Yellowknife and will continue to meet with employees [...]
Gems Diamonds rough sales rose 11 percent to $42.9 million in the first quarter of 2010 in part due to strong prices The mining company observed that consumer demand for goods had improved and positively impacted polished prices; however, price increases for finished goods have not risen as sharply as they have for rough diamonds. [...]
Afri-Can Marine recovered 112 diamonds, average size 0.17 carats, from its Block J excavation program in Namibia. The two largest diamonds weighed 0.52 and 0.50 carats. The aim of sample program was to delineate diamond resources on Block J in compliance with National Instrument 43-101. Afri-Can holds a 70 percent interest in Block J through [...]
Trans Hex received a mining license to operate its Luana concession in Angola. The junior explorer owns 33 percent stake in the project. Pilot production is underway. Its Luarica and Fucauma operations in Angola remain on care and maintenance REF: Trans Hex to receive mining license
IGE Resources closed its first fiscal quarter with a loss of $2.85 million (SEK 21.7 million or SEK 0.03 per share), compared with the loss of $696,000 (SEK 5.3 million) it posted one year ago. The company doesn’t report in dollars, but it spent $1.5 million to buy diamond operations from Pangea Diamond Fields and [...]