Diamonds lose some shine, no further big falls anticipated - analysts

As diamond prices show there first significant drops since posing a significant recovery from the financial crisis, analysts said on Tuesday the pullback was due at some point, and that prices should more or less hold their current levels for the...

Sightholder opens DTC’s first sight of 2011

Diamond Trading Company (DTC), the sales arm of the De Beers group, said on Monday that Erez Daleyot, the CEO of diamond manufacturer DD Manufacturing (DDM), was successful in his bid to open the first diamond sight of 2011. Daleyot became the...

Diwali, Christmas holding diamond prices firm – RBC

Rough diamond prices are holding up, says RBC Capital Markets' equity research unit. "Despite the expected summer slowdown in diamond demand, all indications are that rough diamond prices are quite resilient," RBC says. In the lead-up to last...

Daily podcast – November 21, 2008

In today's podcast: AngloGold Ashanti has entered into a $1-billion term loan facility agreement with Standard Chartered Bank to refinance its convertible bond; and Debswana, the world's biggest diamond producing company by value, said that it...

De Beers says to cut Nov, Dec diamond sales

Diamond giant De Beers will reduce the amount of unpolished gems at its next two sales due to reduced demand, it said on Tuesday. The decision came after reports that diamond prices were falling and following a call by an industry group last week...

De Beers rough diamond prices up by average 16% this year

Diamond giant De Beers has increased rough diamond prices by a cumulative average of 16% since the beginning of 2008, on strong demand for the gems, the company said on Tuesday. The figure includes the pricing for August sale by the group's...

Sallies says nonexec director Msibi died

Fluorspar producer Sallies on Tuesday announced the death of nonexecutive director Dr Vincent Msibi, who was also a director of diamond heavyweight De Beers rough diamond distribution arm, the Diamond Trading Company. Msibi had also been a...

Botswana aiming to beneficiate diamonds worth $550m in 2009

Botswana is aiming to cut and polish $550-million worth of rough diamonds next year. Should it achieve that target, it will have achieved a 50%-plus increase on the $360-million worth earmarked for beneficiation this year, the start of the...

Debswana searching for new mines to take up extra sorting capacity

Diamond producer Debswana, a joint-venture between the Botswana government and De Beers, was hoping to find new mines in that country to take up the some ten-million tons a year of additional sorting capacity that it had at the new Diamond Trading...

Mining industry booming in Botswana

Botswana has experienced a serious resurgance of mining activity in the country over the last couple of years. More discoveries are announced almost every month.

Botswana defends its diamond cutting plan

Botswana's mining minister defended efforts to set up a local diamond polishing industry, saying the government's "beneficiation" plan could be an economic stimulus for the southern African nation.

Beneficiation kicks off in Botswana, more to come, says Mogae

Multinational diamond group Steinmetz has opened the doors to its diamond polishing facility in Gaborone, Botswana - disproving the beguiling myth that diamonds can not be beneficiated in diamond-producing countries.