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> Future Headline: ‘DTC Sightholder Jailed for Attending Sight’ |
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This headline is not imaginary, just premature. The current impasse in South Africa has become intolerable. |
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(July 17, 2008 - Memo) |
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> Guinea Recommends Revoking Aredor’s Diamond Mining License
The government of Guinea has accused Aredor, the West African country’s largest diamond miner, of having “practically stopped all activities for three years,” despite promises it made to various ministers. Guinea’s mines minister has recommended canceling its diamond exploration license. |
(July 20, 2008)
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> Petra Takes Over Operations at Cullinan, Completing Acquisition
The Petra Diamonds Cullinan Consortium (PDCC), of which Petra Diamonds holds a 37 percent interest, has completed the final stage of its acquisition of the Cullinan diamond mine from De Beers Consolidated Mines. |
(July 16, 2008) |
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> Gem Diamonds to Begin Polishing January 2009
Mining and exploration company Gem Diamonds is planning to begin polishing operations in January 2009, according to CEO Clifford Elphick. The operations, which will be carried out in facilities in Mauritius and Dubai, will process diamonds from its projects in Lesotho, Australia and Indonesia. |
(July 23, 2008) |
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> De Beers H1 Rough Diamond Sales +10% to $3.3 Billion
De Beers benefited from rising rough diamond prices, resulting in a 10 percent increase in sale to $3.3 billion in the first half of 2008. However, the company was hit by tax increases, which dragged down net income 9.7 percent to $316 million. |
(July 23, 2008) |
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>FATF Published Guidance Document for Precious Stones
The Financial Action Task Force has approved a detailed guidance document for the precious stones and metals trades. The Antwerp World Diamond Centre (AWDC) said in a release that it welcomed the move. |
(July 23, 2008) |
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> Rockwell suspends Wouterspan Operations
Rockwell Diamonds Inc. has suspended mining and processing at its Wouterspan mine on the Middle Orange River, South Africa “as a consequence of an industrial action.” |
(July 27, 2008) |
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>De Beers Rejects African Diamonds Allegations
In response to African Diamonds’ declaration of dispute in its Shareholder Agreement on the AK6 area in Botswana, De Beers has stated that it would be irresponsible to develop a mine while knowing there is not enough available power and added that, in the face of legal proceedings, De Beers will defend its position.
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(June 30, 2008) |
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> Mugabe Smuggling Diamonds Out of Zimbabwe, Reports
Zimbabwe’s President Robert Mugabe is being accused of smuggling goods out of the country to China, flying through Australian airspace, according to reports. |
(July 22, 2008) |
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> Madison Dialogue Publishes Diamond Development Initiative Report
The Madison Dialogue has published its third White Paper, “Making Diamonds Work for Development.” The work chronicles the challenges faced by those working on diamond development projects that advance social and environmental objectives, as they try to make progress on these issues, especially following the publicity surrounding the issue of conflict diamonds. |
(July 20, 2008 )
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>Petra Makes Botswana Kimberlite Discovery
Petra Diamonds has released results from its Angola and Botswana exploration activities, including the discovery of a new kimberlite at its Orapa-Letlhakane project in Botswana. |
(July 23, 2008) |
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>Ralfe Retires from De Beers Board
Two and half years after he left the post of Managing Director of De Beers, Gary Ralfe retired from the Board of De Beers sa at its meeting in Luxembourg Tuesday. |
(July 23, 2008) |
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>FTC: Not Unfair or Deceptive to Call Lab-Made Diamonds ‘Cultured’
In a blow to efforts by the diamond industry to distance lab-made diamonds from natural, the U.S. Federal Trade Commission declined to amend the Guides for the Jewelry, Precious Metals, and Pewter Industries to state that it would be unfair or deceptive to use the term “cultured” to describe gemstones created in a laboratory. |
(July 23, 2008) |
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> Ekati Diamond Production Declines 5% |
| Diamond production by BHP Billiton totaled 864,000 carats in the June-ended quarter. This is a 5 percent decline year-over-year, but a 39 percent increase compared to the March quarter. A record volume of ore – 1.356 million tons – was processed during the quarter, the company said. |
(July 23, 2008) |
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> SoC Architect Named CEO of De Beers’ Element Six
Bain & Co. partner Cyrus Jilla has been named CEO of Element Six SA. Element Six is De Beers’ synthetic diamonds arm and a joint venture with Umicore SA. Jilla was the main architect of De Beers' Supplier of Choice strategy. |
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(June 30, 2008) |
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