Archive for Mining
Sri Lankan Entrepreneur Strikes Gold
A Sri Lankan entrepreneur has successfully recovered gold from the black sand that is washed away from the gem gravel. The entrepreneur met the Chairman of the National Gem and Jewellery Authority(NGJA), Mr Anil Koswatte on the 15th June 2010. He brought along with him samples of the black sand, gold dust and two gold [...]
Rio Tinto- Diamond Output Down in Q3 2009
Rio Tinto’s diamond output dropped by 54% according to diamondworld .net to Only 2.79 million carats. The production of diamonds during the third quarter at its mines doubled. During the first nine months of this year, ending September 30th there was a 31% fall in its overall diamond output from all its mines to 9.58 [...]
507 Carat Large Diamond Discovered At The Cullinan Mine
A large 507.55 carat diamond was discovered at the Cullinan Diamond Mine on Thursday the 24th September 2009. This makes it one of the largest rough diamonds ever found. This is the 18th largest rough diamond discovered in the world so far. The Cullinan Diamond with a weight of 3106 carats is the largest rough [...]
Namibia Increases Diamond Output
The diamond output of Namibia rose more than double in the second quarter compared to the first,said Paul Hartmann, the Deputy Governor of the Bank of Namibia. However the number of carats mined were not disclosed. According to Bloomberg the output of diamonds declined by 48% compared with the same period an year earlier. Hartmann [...]
Government of Zimbabwe Loses Legal Battle on Diamonds
The Government of Zimbabwe lost a three year long legal battle with African Consolidated Resources (ACR) Plc , a British registered company for the control of the Marange diamond fields. The High Court ruling which was issued on Thursday is considered to be a landmark ruling. The ruling could have serious implications for the government [...]
Argyle Diamond Mine Expansion to Resume Next Year
The world’s third largest mining company, the Rio Tinto Group is to resume work on its expansion plans at the Argyle diamond mine next year. The resumption of the expansion plans follows recovery in the global jewelry demand. According to the Chief Operating Officer, Kevin McLeish, underground production at Argyle, the world’s largest diamond mine [...]
Harry Winston Posts Loss
Harry Winston posted a loss in the second quarter due to reduction in demand for diamonds and a drop in diamond prices. However the prices of diamonds have rebounded from the first quarter. The Q2 loss was $0.32 per share (One year before they had a profit of $0.81 per share. Harry Winston has a [...]
De Beers Made Big Sales In August 2009
De Beers made the biggest sale this year in August 2009. The sale that amounted to US$ 475 million was the seventh sale this year. According to Bloomberg the total sales of De Beers so far this year is US$ 2.2 billion, this is the lowest in over twenty years. The Diamond Trading Corporation (DTC) [...]
Gem Diamonds Expects Higher H2 Profit
Gem Diamonds expects a better profit during the second half after posting a 31% fall in the first half pf 2009. The company also noted that they do not expect a dramatic increase in the diamond prices, therefore the company is not expecting to restart mining at any of its closed mines. The closed mines [...]
Scottish Gemstone Miner Killed in Kenya
Campbell Bridges, a renowned Scottish gemstone miner and expert was killed in Kenya by an armed gang on Tuesday the 11th of August. Bridges was ambushed and attacked by a group of about 30 men when they were approaching their mining camp. At the time of the attack Campbell Bridges was accompanied by his son, [...]