R/€ = 16.90 Change: 0.04
R/$ = 16.19 Change: 0.05
Au 1817.24 $/oz Change: 0.65
Pt 912.50 $/oz Change: -13.00

Diamonds News

Diamonds bring new glitter to Northern Cape communities

By: nkolola halwindi     18th April 2003 Long before the introduction of the Money Bill, black-owned company New Diamond Corporation (NDC) had volunteered a 5% royalty to the Batlhaping, over and above the 5% it was required to pay to the State for the rights to explore Schmidtsdrift, its flagship diamond prospect. 

Plans for new Kimberley gem bourse by end of May

By: Terence Creamer     16th April 2003 The Northern Cape government is confident that South Africa’s second diamond bourse will be set up in Kimberley by the end of next month – at present only Johannesburg has such a bourse. 

Namdeb to proceed with Elizabeth Bay mine

16th April 2003 Namibian diamond miner Namdeb said yesterday it had approved a nearly R400-million ($52-million) project to boost the lifespan of its Elizabeth Bay mine near the Atlantic port of Luderitz by at least 10 years. 

Senate approves Bill to curb conflict gems

14th April 2003 The US Senate unanimously approved a bill last week to ban the import of uncut diamonds that help fund African civil wars and may also be a source of financing for Osama Bin Laden's al Qaeda network. 

Namakwa announces first diamond sale

14th April 2003 Gem miner Namakwa Diamond Company has completed the first sale of diamonds from its West Coast Diamond Project, in South Africa, marking a key milestone for the Company as it moves towards development of a commercial mining operation later this year. 

Diamond giant developing two new technologies

By: Marius Roodt     11th April 2003 Entering De Beers’ offices in the south of Johannesburg, is equivalent to walking through the doors of a top-secret government research facility. 

SouthernEra forecasts big growth at Messina

11th April 2003 Canadian platinum and diamond company, SouthernEra, has expressed confidence in its ability to continue to expand the ‘Greater Messina’ platinum project in South Africa and turn the operation into "one of the largest and lowest cost platinum group metal producers in the industry". 

Moscow mulls platinum metals disclosure

10th April 2003 The Russian government is preparing to reveal data on its stocks, output and sales of platinum group metals and diamonds, business daily Vedomosti reported yesterday. 

US approves bill to curb conflict diamonds

10th April 2003 The House of Representatives this week overwhelmingly approved a bill aimed at banning imports of uncut diamonds that fund African civil wars. 

Gem junior announces good Antwerp sale

9th April 2003 Canadian mining company Diamond Fields International (DFI) announced the sale of 4 333 carats recently, at an average price of $147,67 a carat, for a total price of $639 812. 

De Beers did not profit from apartheid - Ralfe

9th April 2003 The world's largest diamond group De Beers said on Tuesday it did not profit from apartheid as alleged in a lawsuit brought last week that seeksup to $6,1-billion in damages for victims of apartheid. 

DTC showcases 200 sightholder marketing initiatives

8th April 2003 The Diamond Trading Company (DTC) – the marketing arm of diamond giant De Beers - yesterday outlined the key benefits of its new Supplier of Choice marketing strategy to the diamond jewellery trade at the 2003 Basel International Watch and Jewellery Fair. 

SA to host Kimberley Process meet in April

7th April 2003 South Africa will host the next plenary session of the Kimberley Process, the worldwide body that regulates the trade and certification of rough diamonds, from April 28 to 31, in Johannesburg. 

De Beers' local operations

4th April 2003 Name of the project and location De Beers’ local operations. Project description The largest diamond group in the world, De Beers is spending more than $150-million (80% more than in 2002) this year to increase production and prolong the life of some of its South African mines. The company... 

Gem-miner in R40m equipment alliance

By: Joanne Delaurentis     4th April 2003 South African black-owned diamond miner New Diamond Corporation (NDC), and South African earth-moving equipment supplier Bell Equipment Company have signed a partnership deal worth R40-million for the supply of earthmoving equipment to NDC’s Schmidtsdrift mining project on the Vaal River... 

Gem giant’s third sight not affected by war

By: Martin Czernowalow     4th April 2003 Continuing on last year’s trend of solid diamond sales, De Beers described its first three sights of 2003 as having gone “extremely well”, despite the current war in Iraq. The latest sight took place in London last week. 

US Senate panel approves conflict diamonds bill

4th April 2003 The Senate Finance Committee unanimously approved a bill aimed at banning imports of diamonds used to fund bloody African civil wars. The move brings the US closer to implementing an international agreement to curb trade in so-called "conflict diamonds". 

De Beers sets up BEE advice group

4th April 2003 Diamond giant De Beers and its shareholders recognise and fully support the need for transformation and for the economic empowerment of historically disadvantaged persons in the South African mining industry, company said yesterday. 

Gold: tonnages down, value up

By: Keith Campbell     4th April 2003 TONNAGE down, dollar value up – that sums up the story of gold demand (excluding institutional investment) last year (2002). 

Canada invests R4bn-plus into SA’s mining industry

By: zeena isaacs     28th March 2003 Canadians, who have shown a keen interest in South Africa’s mining industry since the country’s democratisation in 1994, have accelerated the pace of investment in this country since the proposed “use-it-or-lose-it” legislation began featuring strongly, Mining Weekly can... 

Companies that have invested

By: zeena isaacs     28th March 2003 Canadian companies such as Placer Dome, SouthernEra, Thistle Mining and Etruscan are among the largest Canadian investors in South Africa, Mining Weekly can today report. 

Resources giant to strengthen diamond business

By: Martin Zhuwakinyu     28th March 2003 Resources giant BHP Billiton has adopted a multipronged approach to growing its diamond business to take advantage of a 2%-to-3%-a-year increase in demand, which should buoy up prices for many years to come, given that supply levels are unlikely to change any time soon. 

Gem giant revives growth strategy

By: Terence Creamer     28th March 2003 Diamond giant De Beers, which has consolidated its financial position and reduced its debt significantly over the last year, is preparing for a new expansionary push with group capital investments set to rise to more than $2,3-billion over the next five to ten years. 

Royalty Bill discriminates against diamonds - De Beers

27th March 2003 Diamond giant De Beers believes that the proposed royalty of eight per cent on gross sales of rough diamonds in South African is discriminatory when compared with the other proposed royalty rates. 

Ventersdorp gem miner plans to double plant

21st March 2003 Newly-opened Tirisano Diamond Mine, the first commercial scale alluvial diamond-mining operation in the Ventersdorp mining district, has plans to double its plant capacity before the end of the year. 

De Beers plans to boost output from SA in 2003

By: Terence Creamer     21st March 2003 Diamond giant De Beers, which has consolidated its financial position and reduced its debt significantly over the last year, is preparing for a new expansionary push with group capital investments set to rise to more than $2,3-billion over the next five to ten years. 

Big jewellery strategy unfolding

By: Zonika Botha     21st March 2003 Despite South Africa’s status as the world largest gold producer (423 t in 2000), the country’s jewellery manufacturing sector is extremely small, contributing less than 1% to the $150-billion global market. 

SA goes downstream with gold

By: Martin Creamer     21st March 2003 A milestone in South Africa’s precious metals beneficiation progress was reached last week with the opening of a R20-million gold-rope chain production facility in the Free State Province. 

Alexkor winner to be announced within days

By: Martin Czernowalow     20th March 2003 The announcement of the winning bidder for a controlling stake in State gem-miner Alexkor is only days away, observers close to the process predict. 

R40m NDC-Bell equipment deal launched

20th March 2003 South African black-owned diamond-miner New Diamond Corporation has clinched a R40-million partnership deal with South African earth-moving equipment manufacturer, Bell Equipment Company, for the supply of machinery to its Schmidtsdrift mining project on the Vaal River, near Kimberley in the... 

De Beers welcomes publication of Royalty Bill

20th March 2003 Diamond giant De Beers, whose product appears to have been hardest hit by the newly-released Mineral and Petroleum Royalty Bill, has welcomed the publication of the proposed legislation, as well as the fact that government has afforded stakeholders the opportunity to comment on the content and... 

De Beers, Endiama extend moratorium

19th March 2003 The State diamond mining company of Angola, Endiama, and De Beers have agreed to extend the moratorium that expired on March 12, 2003, in order to continue negotiations. 

Major bullish on Botswana gem opportunities

By: Martin Czernowalow     17th March 2003 Botswana combines the attributes of an excellent investment environment, global best-in-class diamond endowment and one of the world’s most difficult exploration terrains, said BHP Billiton on Friday. 

Phosa eyes more mining ventures

By: Martin Zhuwakinyu     14th March 2003 Former Mpumalanga premier Dr Mathews Phosa, whose Vuka Alliance recently came together with a team of black entrepreneurs to acquire a 50% stake in contract-mining company Ruslyn Mining and Plant Hire, says the R17,5-million deal is a precursor to many empowerment transactions in the mining... 

SA miners sign Aussie settlement

14th March 2003 A new joint venture agreement, between AngloGold Australia, Striker Resources and De Beers Australia Exploration Limited, has been signed this week, covering a large ground holding in the east Kimberley region of Western Australia. 

SA goes downstream with gold

By: Martin Creamer     13th March 2003 A milestone in South Africa’s precious metals beneficiation progress was reached yesterday with the opening of a R20-million gold-rope chain production facility in the Free State Province. 

Botswana’s diamond sales rise by 4,7% in 2002

11th March 2003 Botswana's diamond sales rose by 4,7% to 11,2-billion pula ($2,17-billion) in 2002, due mainly to a bouyant US market, the company responsible for all the country's production said. 

DFI pleased with Luderitz results

10th March 2003 Canadian gem miner Diamond Fields International (DFI) said that a further recovery of over 4 800 carats of diamonds from its Luderitz diamond concession, continues to exceed the feasibility study expectations. 

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