De Beers announces marine diamond deal with Namibian govt

Diamond giant De Beers on Wednesday confirmed speculation that the Namibian government would lift its stake in the company’s marine mining business in the country from 15% to 50%. De Beers and the Namibian government already have 50-50 joint...

Decision on Gahcho Kué this year - De Beers

De Beers Canada said on Tuesday it would make a board decision on whether to build the Gahcho Kué in the North West Territories, in which it has a 51% stake, early this year. The company said there were “just a few areas requiring minor...

De Beers appoints Alstom’s Mellier as CEO

The world’s largest diamond miner De Beers on Monday announced that Philippe Mellier, from French engineering group Alstom, would take the reigns as CEO in July. Mellier, who is the president of Alstom Transport, would succeeded Gareth Penny,...

De Beers targets production increase, returns to profit

The world’s number-one diamond-miner De Beers is targeting a 15% production increase this year, the group said on Friday, announcing that it had returned to a profit, driven by strong sales. De Beers recovered 33-million carats last year, which...

Liberum sees 'strategic merit' if Anglo raised De Beers stake

It would be a positive move for Anglo American if the group increased its holding in De Beers, mining analysts at Liberum Capital said on Monday. The Sunday Times newspaper reported that the Anglo board could buy the Oppenheimer family's 40%...

Oppenheimer direction less clear as hazier outline emerges

The name Oppenheimer and Anglo American have been synonymous for 93 years. But it is no longer clear to what extent it will be so when Anglo celebrates its centenary in seven years. The 120-year-old De Beers diamond mining and marketing company...

No intention of hiving off De Beers – Carroll

There has been speculation galore since Anglo American began throwing out a financial lifeline to diamond company De Beers. Then the whispers turned into headlines that De Beers was going to be relisted to raise equity capital to put a dent into...

Anglo still talking to Eskom on power plant possibility – Carroll

Diversified miner Anglo American was continuing its power discussions with South Africa's State utility, Eskom, on the possibility of a power plant being built that would make use of Anglo's discard coal. Anglo Thermal Coal has large volumes of...

UNEXPECTED STEPPING-DOWN

De Beers CEO Gareth Penny (right), shown with Mining Weekly editor Martin Creamer, announced that he was stepping down as CEO, after reporting a 134% increase in the diamond miner's output to 15,4-million carats in the first six months to June 30,...

De Beers mulling offers for troubled Namaqua, Finsch

Diamond-miner De Beers said on Thursday that it had received approaches from potential investors interested in buying the company's troubled Namaqualand and Finsch diamond mines in the Northern Cape. De Beers, whose CEO Gareth Penny is stepping...

De Beers more than doubles output, Penny steps down as CEO

Diamond miner De Beers on Friday reported a 134% increase in its output to 15,4-million carats in the first six months of this year, while Gareth Penny announced that he would step down as CEO in the coming months. Penny said that he believed...

Stornoway eyes upside at Renard

Vancouver-based Stornoway Diamonds wants to become a two-million-carat-a-year producer, CEO Matt Manson said this week. The company still plans to decide whether or not to build its flagship Renard mine in Quebec by the end of 2011, with first...