Category: Mining

Does Anyone Want to Buy De Beers?

For sale: Diamond miner with unprecedented political challenges operating in the toughest market for years.

Sales fell 31% year on year in first quarter.

Sales and output fell in first quarter due to sluggish market.

Rough production down 22% year on year.

Like-for-like at fifth tender down 1% as smaller goods showed seasonal slowdown.

Dubai-based diamond sourcing and supply company will take over responsibility for environmental rehabilitation fees.

Winsome Resources plans to acquire Stornoway’s processing plant and infrastructure.

Impairment charge and lower average rough prices in flat market hurt bottom line.

Company sees second-highest annual revenue for rubies and emeralds.

Nearly all lots sold at auction, which garnered total of $19 million.

The September issue looks at the spending trends, gemstones, and styles shaping retail shopping this festive season.