Petra cuts latest sign of a down diamonds market
Petra Diamonds (LSE: PDL) has revised its guidance for the next two fiscal years and appointed a new finance leader as part of its plans to lower expenses and debt…
Diamond
De Beers sales drop to US$315M amid search for new owner
De Beers’ sales of rough diamonds fell for the second time this year, with the Anglo American (LSE: AAL) unit recording a provisional US$315 million, down from US$383 million in…
South Africa’s unity rule may boost mining
South Africa’s new coalition government with a pro-business party could help the world’s leading platinum producer improve its troubled power and rail networks getting metal to market, analysts say. The…
Gemfields fetches almost US$69M at ruby auction
Coloured gemstones miner Gemfields (LSE: GEM; JSE: GML) said on Wednesday it sold almost US$69 million of mixed-quality rubies at its June auction, with 97% of the offering gone. The…
De Beers plans return to marketing roots as split from Anglo American looms
De Beers, which created the global market for diamond engagement rings through its “A Diamond is Forever” campaign, is shifting back to its marketing roots as its parent company Anglo…
Gemfields picks ex-De Beers boss Bruce Cleaver as new chair
Emeralds and rubies miner Gemfields (LSE: GEM; JSE: GML) has appointed former De Beers chief executive, Bruce Cleaver, as chair and independent non-executive director. Cleaver, who was at the helm…
Botswana in talks to raise stake in De Beers
Botswana confirmed on Monday market rumours that it plans to increase its shareholding in De Beers, as parent company Anglo American (LSE: AAL) prepares to spin off or sell the…
Gemfields studies 2 grams-a-tonne gold in Mozambique
Africa-focused Gemfields (LSE: GEM; JSE: GML), known by its emeralds and rubies, has produced its first resource estimate for the Nairoto gold project in Mozambique showing high grade from a…
Gem Diamonds finds 172.06 ct stone at Letšeng
Africa-focused miner Gem Diamonds (LSE: GEMD) has unearthed a 172.06 ct Type II white diamond at its prolific Letšeng mine in Lesotho, just days after another major find. The diamond, recovered…
BHP abandons US$49B bid for Anglo
BHP (ASX: BHP) is walking away from its US$49.2 billion offer for Anglo American (LSE: AAL) after the companies couldn’t agree on how to handle the target’s platinum assets in South…
Gem Diamonds finds sixth 100+ carat stone this year
Africa-focused miner Gem Diamonds (LSE: GEMD) has unearthed a 212.9-carat Type II white diamond at its prolific Letšeng mine in Lesotho, less than a month after a previous major find. The diamond,…
Anglo American rejects BHP’s third, US$49.2B bid
Anglo American (LSE: AAL) rejected on Wednesday a third takeover bid by BHP (ASX: BHP) that valued the company at US$49.2 billion (£38.6 billion), but it has agreed to extend…