NEWS
Rockwell Subsidiaries Survive Liquidation Bid
Johannesburg: Rockwell Diamonds said its
three subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift
Mine – were successfully placed under business rescue by a court in Kimberley,
South Africa as opposed to liquidation.
Swiss Watch Exports Run Slow Again
Bern: April saw Swiss watch exports return
to the downward trend that has characterized the industry’s performance over
the past two years, as demand from Hong Kong and the US slumped.
ICC Partners with Luxury Watch Brand Hublot
Dubai: The International Cricket Council
(ICC) has announced a three-year deal with Swiss luxury watchmaker Hublot which
will include all ICC events till 2020. Hublot have previously partnered with
the ICC on one off events including the Cricket World Cup 2015 and World T20
2016 and have now moved to a long-term partnership.
Tanzanian President Orders Mining Minister to Resign
Dar Es Salaam: Tanzanian President John
Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo
to resign after a report showed he was implicated in mining firms' undeclared
mineral sand exports.
Forevermark Inscribes Two Millionth Diamond
London: De Beers Group today announced its
Forevermark diamond brand has inscribed its two millionth diamond. The diamond
is a 3.48 carat round brilliant and bears the unique inscription of
‘2,000,000’.
Mjunction e-auctions Rs. 110 Cr. of rough for PSU Mining Co.
Kolkata: Over 1 lakh carats of rough
diamonds with a transaction value of INR 110 Crores have been e-auctioned by
mjunction for a PSU mining company. A significant development amidst the global
slowdown in diamond industry, the e-auction process has successfully overcome
the challenges in the gem and jewellery sector.
Ekati Life Could Extend till 2035
Toronto: Dominion Diamond Corporation
reported that the positive results of a pre-feasibility study on the
development of an underground operation below the Misery open pit could extend
the mine life of Ekati till fiscal 2035. The estimated inaugural probable mineral
reserves at Misery Deep are 1.8 million tonnes and 8.7 million carats, Dominion
said.
Zimbabwe Takes Control of Its Diamond Ind. Again
Harare; Zimbabwe has taken over income from
all diamond mining activities in the country after injecting $80m into the
Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to
run diamond mining activities, reports miningmx. The Zimbabwe Government’s
Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to
the fiscus” in a time of decline in gem mining operations throughout the
country. The news comes after it was revealed that earnings from diamonds in
Zimbabwe between January and May 12 significantly fell to $27m from a high of
$51 in the same period during the previous financial year.
Sarine Group Revenue Up 5% in Q1 2017
Tel Aviv: Sarine Technologies Ltd’s 5%
increase in Group revenue y-o-y for the first quarter ended 31 March 2017 is attributed
to good manufacturing pick up once again in the diamond industry.“Backed by healthy level of manufacturing
activities in the diamond industry, Sarine recorded higher revenue of US$ 16.3
million in Q1 2017 from increased capital equipment sales and higher recurring
revenues” according to the company's report.
ALROSA-Endiama Sign Agreement
Luanda: ALROSA will develop the new Luaxe
diamond deposit in Angola. During the visit of the Russian official delegation
on May 23, 2017, the President of ALROSA Sergey Ivanov and the president of the
Angola's national diamond-mining company Endiama Carlos Sumbula signed
respective documents on the establishment of the international enterprise
Luaxe.