Mining News: DIAMOND
By Idex Online,
February 14, 2010 at 5:40 AM -
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Zale’s former chief executive officer, Neal Goldberg, will receive $600,000 in severance pay, according to JCK Online. William Acevedo, the company's former chief stores officer, will receive severance pay of $337,500.
By Idex Online,
February 14, 2010 at 4:32 AM -
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Louis Goodwill Nchindo, the former head of Debswana, has been found dead four days after his disappearance, his family said Thursday. Nchindo, who had been facing corruption charges, was found 65 feet away from his pick-up truck at Masedi Farms in Botswana.
By Idex Online,
February 14, 2010 at 3:55 AM -
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South African diamond mining company Namakwa Diamonds Limited has signed an agreement with polished diamond wholesaler Andre Messika, the company announced Thursday. Messika will source “suitable diamonds” from Namakwa’s mining and buying channel and Namakwa will have access to Messika’s manufacturing expertise and retail networks.
By Idex Online,
February 14, 2010 at 3:44 AM -
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Blue Nile, Inc. posted a strong rise in fourth quarter net sales, rising 20 percent to $102.9 million. Annual results were less celebratory, nearly flat at $302.1 million, an increase of 2.3 percent over fiscal 2008.
By CapitalFM,
February 11, 2010 at 5:12 PM -
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LONDON, Feb 11 - Diamond mining group De Beers reported tough times for diamonds on Thursday, reporting a switch into loss and a capital increase, but said sales in China were robust and overall business was picking up. The British-South African mining
By MarketWatch,
February 11, 2010 at 3:30 PM -
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De Beers SA, the world's largest producer of rough diamonds, Thursday said its three shareholders have agreed to invest $1 billion so that it can cut debt and strengthen its balance sheet after a year in which gem output slumped 49% in response to weak
By Mining Weekly,
February 11, 2010 at 12:58 PM -
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JOHANNESBURG (miningweekly.com) ? Diamond giant De Beers on Thursday reported an underlying loss of $220-million for the 2009 financial year, compared with profit of $515-million in 2008, with the global recession hitting the diamond sector hard. The
By Idex Online,
February 11, 2010 at 11:40 AM -
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Based on our data, we’ve found that prices are steady for diamonds used in engagement rings. IDEX Online Research is going to tell you why.
By Mining Weekly,
February 11, 2010 at 9:55 AM -
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unior miner Namakwa Diamonds has signed a cooperation agreement with the operating company of Andre Messika, a diamantiare based in Paris and Tel Aviv. The Aim-listed Namakwa would assist Andre Messika to secure greater access to a regular supply of
By Idex Online,
February 11, 2010 at 9:40 AM -
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Four Rio Tinto employees based in China have been indicted and are to face trial in a Shanghai court, the company announced Thursdays. A trial date has not yet been set for the employees, who were arrested on suspicion of illegally obtaining commercial secrets and bribery and have been held in custody since July 5, 2009.
By Idex Online,
February 11, 2010 at 8:46 AM -
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If any further evidence was needed of a turnaround in the rough diamond market, the Belgium trading figures from January supply them with clarity. Rough diamond exports soared 168.4 percent compared to January 2009.
By Mining MX,
February 11, 2010 at 8:09 AM -
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[miningmx.com] -- ANGLO American will invest $450m in diamond group De Beers, which is issuing $1bn worth of equity to secure banking facilities and grow the world's largest supplier of rough diamonds. The decision follows this week's R12.5bn rights
By InfoMine - CompanyProperty Mine,
February 11, 2010 at 8:00 AM -
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Namakwa Diamonds announced that it has signed a co-operation agreement with B.L.I.D International, the operating company of the Andre Messika Group. Pursuant to the Agreement Namakwa will gain access to Andre Messika's manufacturing expertise and retail networks, whilst Andre Messika will use Namakwa to source suitable diamonds from its mining and buying channels which are specifically tailored to client demand.
By InfoMine - CompanyProperty Mine,
February 11, 2010 at 8:00 AM -
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Flinders Mines announced that a microdiamond has been found in a gravel sample from Pilbara iron ore project area, Western Australia. This was a gravel sample from tenement E47/1560, and was taken from drainage works to investigate a circular, possible volcanic pipe feature visible in aerial photographs. Five new microdiamond counts have been received from the Eurelia area. Four of the samples were taken along the diamondiferous Eurelia K3 trend and one along the Bel Forest K7-K4 trend. The highest microdiamond count was from sample 100148, which yielded 63 microdiamonds from a 20 kilogram sample.
By Idex Online,
February 11, 2010 at 5:10 AM -
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A licensed debt collector service created to serve the U. S. diamond and jewelry trade has been launched by JewelersAlert.com. The Jewelers Alert Collection Corporation (JACC) already has trademarked the slogan: “A debtor’s worst nightmare.”
By Idex Online,
February 11, 2010 at 5:01 AM -
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A 46.4 percent drop in Rio Tinto’s diamond sales resulted in a $68 million loss for the company in 2009, the miner reported Thursday. Sales dropped to $450 million and production was reduced by 33 percent to 14.026 million carats for the full year.
By Idex Online,
February 11, 2010 at 3:45 AM -
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The 2010 AGTA GemFair™ saw a 7 percent increase in buyer traffic over the 2009 show, the American Gem Trade Association (AGTA) reported Wednesday. A total of 8176 registered buyers attended the event, which was held February 2-7 at the Tucson Convention Center in Tuscon, Arizonza.
By Idex Online,
February 11, 2010 at 3:22 AM -
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As was expected, diamond giant De Beers S.A. posted a sharp drop in income in 2009. Rough diamond sales by the Diamond Trading Company (DTC) totaled $3.23 billion, 45.5 percent below last year’s $5.93 billion. Annual diamond production was 24.6 million carats, 49 percent below 2008.
By AllAfrica.com,
February 10, 2010 at 9:17 PM -
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Botswana will not necessarily derive better value from its diamond by breaking the Diamond Trading Company Botswana (DTCB) monopoly when negotiations resume for a new diamond sales agreement. The existing sales agreement which compels Debswana to sell
By Idex Online,
February 10, 2010 at 10:45 AM -
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The Diamond Commission of The World Jewellery Confederation (CIBJO) has reiterated the need for an industry-wide agreement on nomenclature that distinguishes between natural and lab-made diamonds. The Commission made the call in its annual report, published Wednesday.
By Idex Online,
February 10, 2010 at 9:08 AM -
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Belgium’s gross polished diamond exports totaled $647.76 million in January, a 16.1 percent year-over-year increase. Imports of $736.64 million worth of goods reflected a 12.2 percent increase compared to January 2009. Net imports left the trading center with surplus of $88.89 million worth of goods, propelled by large returns from the U.S.
By Idex Online,
February 10, 2010 at 8:40 AM -
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Online retail spending reached $39 billion in the fourth quarter 2009, up 3 percent versus 2008, comScore announced Tuesday. The fourth quarter increase marks a return to positive growth after four consecutive quarters of year-over-year declines.
By InfoMine - CompanyProperty Mine,
February 10, 2010 at 8:00 AM -
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Shore Gold announced the results of the combined Prefeasibility Study on the Star - Orion South Kimberlites, which includes the Star diamond project. Highlights includes a total diamond production of 35 million carats over a 20 year Life of Mine, with a NPV of $1.3 billion (using a 7% discount rate) for an IRR of 16% before taxes and royalties and an after-taxes and royalties NPV of $786 million with an IRR of 13.5%. Pre-production capital cost of $1.6 billion with a total capital cost of $2.5 billion.
By Idex Online,
February 10, 2010 at 5:31 AM -
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Damas International Ltd. announced the appointment of Chief Financial Officer Sanjay Kalsi as interim acting chief executive, one of a number of management changes for the Dubai-based jeweler. The company is trying to revive investor confidence and its financial strength after a series of “unauthorized transactions” of about $165 million.
By Idex Online,
February 10, 2010 at 5:10 AM -
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Hearts on Fire will close underperforming accounts in more than 120 retail stores, the diamond company announced Tuesday. The company is closing the accounts in an attempt "to consolidate and strengthen its family of independent retail jewelers."
By Idex Online,
February 10, 2010 at 4:34 AM -
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A sharp rise in rough diamond prices in the first half of the fiscal year pushed up BHP Billiton’s revenues from its diamonds and specialty products segment by 23.9 percent to $566 million, the company reported Wednesday. Pre-tax earnings leaped 115.2 percent to $170 million in the six month period.
By Idex Online,
February 10, 2010 at 4:10 AM -
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Zale Corp. announced that it has hired Peter J. Solomon Company, an independent investment banking advisory firm to the retail industry, to advise the embattled jewelry retailer. Zale did not provide details on what services it will solicit from the investment firm, which provides services in mergers and acquisitions, restructurings and financing advisory.
By Easy Bourse,
February 9, 2010 at 5:17 PM -
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Wall St higher on Greece hopes as commodities lead By Rodrigo Campos NEW YORK (Reuters) - U.S. stocks rose on Tuesday, led by commodity-related stocks, as speculation Greece would get help from the European Union to cut the country's deficit weakened the
By ABN Digital,
February 9, 2010 at 5:15 PM -
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Copper production at Zambia's Kansanshi Mining Ltd., owned by Canada's First Quantum Minerals FM.TO, ground to a halt following a major power outage, the company and state power utility Zesco said on Tuesday. Zesco said a major power supply line feeding
By Financial 24,
February 9, 2010 at 5:15 PM -
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FXstreet.com - Spot gold has broken upwards from the current week's trading range, rallying about $17 on the day from Asian opening levels around $1,062, to break above $1,073/74 resistance and hit session high at $1,079 as risk appetite improved w
By Market Intelligence Center,
February 9, 2010 at 5:14 PM -
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Allegheny Technologies (NYSE: ATI) opened at $41.63. So far today, the stock has hit a low of $41.63 and a high of $42.87. ATI is now trading at $42.64, up $1.94 (4.77%). Over the last 52 weeks the stock has ranged from a low of $16.92 to a high of
By Hedge Week,
February 9, 2010 at 5:13 PM -
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The London Metal Exchange is to create LME Asia, opening its first overseas office in Singapore in April this year. The LME has 26 category one and two members with offices in Singapore and is looking to more closely engage with these members and other
By Canoe Money,
February 9, 2010 at 5:11 PM -
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Toronto’s main stock index gained more than 1 percent Tuesday, supported by firm oil and gold prices and speculation that a rescue plan was in the works for Greece’s debt problems. Global stock markets were boosted by speculation that a special
By Minyanville,
February 9, 2010 at 5:10 PM -
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Some things just seem so obvious to everyone that they're accepted without further examination. Take the role of "commodities" as hedges against either inflation or dollar depreciation. First, let’s stipulate there's really no such thing as
By CNBC via MSN Money,
February 9, 2010 at 5:09 PM -
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NEW YORK (Reuters) - U.S. stocks rose on Tuesday, led by commodity-related stocks, as speculation Greece would get help from the European Union to cut the country's deficit weakened the U.S. dollar, lifting prices of oil and basic materials. Earnings
By EuroInvestor.co.uk,
February 9, 2010 at 5:09 PM -
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By Business North,
February 9, 2010 at 5:08 PM -
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Public Service Commission Chair Eric Callisto and Wisconsin Department of Commerce Secretary Dick Leinenkugel took a tour of Northern Lights Elementary School to see how technology is helping the district offset rising energy costs. Things like high
By stuff.co.nz,
February 9, 2010 at 5:08 PM -
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Solid Energy chief executive Don Elder says its Stockton mine which was expected to produce coal for 3-5 years when he first became boss, now "very possibly" had a 20 year-plus extended lifetime. Elder said the state-owned coalminer was confident about
By Qatar Tribune,
February 9, 2010 at 5:05 PM -
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AFP GENEVA Anglo-Swiss mining group Xstrata on Monday reported a 41 percent drop in its annual profit in 2009 and pinned its hopes on a renewed boom in commodities demand in China and other emerging economies. Xstrata chief Mick Davis predicted that
By Reuters UK,
February 9, 2010 at 5:05 PM -
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HOUSTON, Feb 9 (Reuters) - Coal stockpiles at U.S. power plants fell 1.8 percent this week but remained 10.9 percent greater than the same week last year, Genscape said Tuesday. U.S. generators, which rely on coal to fuel about half of U.S. electricity
By Mining Technology,
February 9, 2010 at 5:04 PM -
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Although only introduced last year, the Verderflex Aura peristaltic dosing pump is already making waves. This model is ideal for low-flow, high-pressure dosing applications and the facilities that are already benefiting from its introduction include
By Mining Technology,
February 9, 2010 at 5:04 PM -
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The benefits of using a UK-manufactured Verderflex peristaltic pump to remove yeast from fermented wine are manifold. This peristaltic pump is self priming, dry running, provides constant flow to the filter press at increasing pressure and requires
By Mining Technology,
February 9, 2010 at 5:04 PM -
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Verderflex has considerable manufacturing aptitude and its Basildon factory exemplifies the company’s ability to design and manufacture special tube pumps. Its application knowledge and production investment provides a unique resource for OEMs and
By StockHouse USA,
February 9, 2010 at 5:04 PM -
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VANCOUVER, B.C. - Western Coal Corp. (TSX:WTN) says its quarterly profit fell to $24 million or nine cents per diluted share in the three months ended Dec. 31. That's down from a profit of $62.5 million or 29 cents per diluted share in the year-earlier
By Sys-Con Media,
February 9, 2010 at 5:04 PM -
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Endeavour Silver Corp. (TSX: EDR)(TSX: EDR.WT)(NYSE Amex: EXK)(DBFrankfurt: EJD) announces that it has acquired an option to purchase the San Sebastian silver-gold properties in Jalisco State, Mexico from IMMSA (Grupo Mexico), one of the largest mining
By FinanzNachrichten.de,
February 9, 2010 at 5:03 PM -
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LONDON, Feb 9 (Reuters) - European shares ended flat on Tuesday, giving up earlier gains with investors wary of the debt problems in Greece and other peripheral euro zone economies. The FTSEurofirst 300 index of leading European shares provisionally
By StockHouse USA,
February 9, 2010 at 5:03 PM -
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(BAYSTREET NEWSWIRE via COMTEX News Network) -- Equedia.com and Equedia Weekly provides research on the top Canadian companies with a focus on TSX and TSX Venture stocks. Equedia is currently researching and evaluating the prospects of Starfield
By Stockwatch,
February 9, 2010 at 5:02 PM -
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Mr. Felipe Tan reports GOBIMIN INVESTS IN BALIKUN COAL PROJECT IN XINJIANG, CHINA Gobimin Inc. has entered into an agreement (the SP agreement) with an existing shareholder of Fortune Aspect Limited (Project Holdco) to acquire 49-per-cent equity stake in
By Finance 24,
February 9, 2010 at 5:01 PM -
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Tokyo - Gold prices steadied above $1 060 on Tuesday, but sentiment continued to be hurt by worries over fiscal stability in Europe, curbing appetite for riskier assets such as commodities. The market's recovery from three-month lows hit last week has
By Street Insider,
February 9, 2010 at 5:01 PM -
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NEW YORK, Feb. 9 /PRNewswire-FirstCall/ -- Recent heightened levels of uncertainty have highlighted the need for diversification and may continue to drive investors in search of alternative asset classes, including commodities. Andrew Karsh, Co-Lead
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