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DIAMONDS AND GEMS

Rio Tinto to grow Indian diamond presence

Thursday , 02 Sep 2010
In a major boost to gold and diamond mining in India, mining giant Rio Tinto, which has discovered an immensely rich diamond resource of 37 million tonnes in northern India's Madhya Pradesh state, is set to invest $79 million in the country.

Strong sales boost Harry Winston's Q2 profits

Thursday , 02 Sep 2010
The diamond miner saw a 62% jump in sales during the quarter, which pushed up profits to $16.5m for the period, significantly higher than analyst expectations

Harry Winston closes Diavik deal

Thursday , 26 Aug 2010
The diamond miner announced Thursday it had finalised a deal to buy back 40% of the Diavik diamond mine from Kinross Gold

Rio Tinto Zimbabwe lifts H1 diamond output by 28%

Friday , 20 Aug 2010
The group said diamond production at the Murowa mine in southern Zimbabwe, which the government banned from exporting gems in May, had risen to 85,939 carats from 67,000 in the same period in 2009.

Indian diamantaires to source own roughs, take on mining giants

Wednesday , 18 Aug 2010
In a bid to augment profits and cut out the role of the middleman in the diamond business, diamonds traders have decided to team up and form a new company to source roughs directly.

US-based Diamond Trading Network bans Zimbabwe's Marange stones

Tuesday , 17 Aug 2010
Despite being endorsed by the Kimberley Process, the trading network says there is still no guarantee that the stones are free from human rights abuses

India's polished diamonds exports leap

Tuesday , 10 Aug 2010
Rising consumer interest from the United States has ensured that the country's net polished exports rose 74% to $4.18 billion for the first half of the calendar year.

Namdeb to invest $1bn over 10 years to extend mine life

Thursday , 05 Aug 2010
The 50-50 joint venture between De Beers and the Namibian government hopes that the investment will extend the lifespand of its diamond operations in the Oranjemund area from2014 to 2050

De Beers expects SA mine sale to take until 2011

Monday , 02 Aug 2010
The diamond producer said it expects expressions of interest for its two SA mines but, could only finalise the deals next year

De Beers considering offers for Finsch and Namaqualand diamond mines

Friday , 30 Jul 2010
De Beers has announced that it is considering offers for its Finsch diamond mine and its currently-suspended Namaqualand alluvial operation.

Firestone Diamonds - Kopane makes great fit

Tuesday , 27 Jul 2010
Firestone Diamonds is looking to become a much more significant player in the global diamond market with its proposed acquisition of Kopane Diamond

Kinross to sell Diavik stake to Harry Winston for $220m

Friday , 23 Jul 2010
Kinross acquired the stake in March 2009, along with a 19.9 percent interest in Harry Winston itself, for $150 million.

De Beers produces strong results; CEO resigns

Friday , 23 Jul 2010
In a surprise announcement on Friday, the Diamond producer said Gareth Penny advised the board that he believes it is an appropriate time to step down. The group also announced a surge in H1 profits

Strike takes shine off Gujarat diamond industry

Friday , 16 Jul 2010
India's gem and jewelry export basket in February 2010 crossed $2.2 billion. Discontent brewing in the Gujarat city's diamond industry, however, is set to upset the applecart.

US appeals court rejects De Beers' $272.5m class action settlement

Wednesday , 14 Jul 2010
The matter has been sent back to a lower court for further consideration

Top Indian gold/diamond retailer to move into China

Thursday , 08 Jul 2010
As another indicator of China's market growth for precious metals and diamonds, top Indian retailer Gitanjali plans to open 50 outlets there.

Harry Winston concludes $100m credit facility

Friday , 25 Jun 2010
The diamond seller said the borrowing will bear a 3.5% interest rate

Zimbabwe to start selling diamond stocks immediately

Thursday , 24 Jun 2010
Zimbabwe's minister of mines and mining development said it will immediately begin exporting Marange field stock piles; Kimberley Process yet to reach consensus

Diamond India plans ahead as Indian investors swing from gold to diamonds

Wednesday , 23 Jun 2010
As gold continues to hit new highs, jewellery buyers are moving out of gold and into diamonds, something the consortium of 58 Indian diamond traders has taken note of.

Battlelines drawn for Kimberley Process meeting

Tuesday , 22 Jun 2010
The meeting in Tel Aviv which started Monday is focusing much of its attention on the Marange diamond fields of Zimbabwe

Zimbabwe to lift ban on diamond exports - State media

Monday , 14 Jun 2010
According to state media, the country plans to trade more than 4 million carats from its Marange fields

Zimbabwe clears way for $1.7bn Marange diamond exports

Sunday , 13 Jun 2010
Kimberley process monitor approval means Zimbabwe will be able to export around $1.7 billion of diamonds held in government stockpile.

Zimbabwe meets Kimberly Process conditions

Tuesday , 08 Jun 2010
The country says it currently holds over 2 million carats ready for export and could now start exporting the stones

Angola to regulate diamond sector with new law

Tuesday , 08 Jun 2010
An official from Endiama said the country is working on a new law to regulate the way diamond companies distribute their revenues from Angolan projects

Harry Winston Q1 loss wider than expected

Thursday , 03 Jun 2010
The diamond company said its numbers were hurt mainly by foreign exchange losses.

South Africa's National Union of Mineworkers suspends De Beers strike plans

Monday , 31 May 2010
The union says it will suspend strike plans while it considers a new wage offer from the diamond company

AK6 kimberlite diamond development moving ahead

Thursday , 20 May 2010
After delays due to the collapse of the diamond market in 2008, and differences of opinion between owners, the new AK6 diamond mine near Orapa in Botswana is now targeting production in late 2011