Anglo American’s (AAUK-Q, AAL-L) agreement to pay $5.1 billion in cash for the Oppenheimer family’s 40% stake in De Beers will have a profound impact on the diamond industry, executives and analysts say.
The Gahcho Ku diamond deposit, in Canada’s Northwest Territories, has an indicated resource of 50.5 million carats and an inferred resource of 10.3 million carats, Mountain Province Diamonds (MPV-T, …
Autumn’s global collapse in diamond demand continued to ripple through Canada’s diamond mines during the thirteenth trading week of the year, as the lively Canadian diamond scene grapples with its fir…
To deal with a global drop in diamond demand, Rio Tinto (RTP-N, RIO-L) is planning two shutdowns at the Diavik mine in the Northwest Territories in the coming months, as well as further delays to the …
Kinross Gold (K-T, KGC-N) is raising some eyebrows with a surprise move into the diamond business, starting with a US$150-million offer for stakes in diamond miner and retailer Harry Winston Diamond (…
Anglo American( AAUK-Q, AAL-L) plans to axe 19,000 jobs or about 10% of its global workforce this year due to trimmed-back production plans and rescheduled projects.
The seventh trading week of 2009 closed out with news of profound cash-flow problems at the iconic diamond miner De Beers, underscoring the global collapse in demand for luxury goods such as diamonds.
Despite the industry slump, exploration in the McFaulds Lake area of northern Ontario continues apace as Noront Resources (NOT-V, NOSOF-O) and other explorers drill off deposits they hope will add up …
Saskatoon, Sask. — As diamond producers and explorers alike consider the global financial situation, they know they are in for a rough ride. However, even before the financial crisis hit, most in the…
Canada’s loonie seems to dip and dive just like any other petrodollar these days, if the week ended Oct. 25, the 43rd trading week of 2008, is anything to go by.
First the good news: A Russian foreign investment review commission chaired by former president Vladimir Putin has granted its conditional consent for Archangel Diamond (AAD-V, ADMOF-o) to acquire a 4…
Vancouver — For the third time in as many years, Gem Diamonds (GEMD-l) has recovered a diamond from its Letseng mine, in Lesotho, big enough to take a place on the list of the 20 largest rough diamon…
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