SA diamond sector seeking ways to mitigate economic downturn

Top South African diamond industry players are committed to seeing the diamond industry through its current economic hardship, and are working on a strategic plan to ensure that the industry does not fall under a barraging wagon of chaos. The...

South African diamond industry seeking ways to mitigate economic downturn

Across the mining industry the effects of the current economic downturn have made a severe impact on production and sales, and resulted in the loss of many jobs. Slowly, but surely, the crisis is spreading to the diamond sector.

Diamond juniors must merge to stay on the map – Rockwell chief

The diamond industry will go through a period of “consolidation and rationalisation” over the next year or so, and small producers must consider merger and acquisition activity if they want to survive the pruning, said Rockwell Diamonds CEO...

New Gold will buy Western Goldfields for cash, shares

Vancouver-based New Gold has agreed to acquire Western Goldfields, which owns the Mesquite mine, in California, the firms announced on Wednesday. The additional cashflow from Mesquite will provide funds for New Gold to develop a gold project in...

Juniors must merge to survive, management urged

Directors and management at many junior companies will need to “check their egos” and look seriously at merging with rivals if they hope to weather the financial crisis and survive, Gryphon Partners managing partner Gordon Bogden said in...

Global gold industry faces growth concerns

Bonanza goldfields or new mega mergers hold the key to further growth at the world's biggest mining firms, but both methods have some risks, gold mining analysts said.

North American investors get the gold bug

A higher gold price, low inflation and fading memories of the nightmare Bre-X mining fraud have sent North American gold stocks surging in the past few months, whetting investor appetites again for mining and exploration companies.