martes, 2 de octubre de 2018

Petra Diamonds CEO to leave as shares fall, debt increases

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Diamond News Digest
Wednesday 3 October 2018
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Johan Dippenaar has held the top position since 2005, when Petra merged with Crown Diamonds.

The top item at Christie's Geneva Magnificent Jewels sale in November will be The Pink Legacy, an 18.96-carat fancy vivid pink diamond expected to fetch up to $50 million.

Blockchain technology and the smart contracts it enables are the innovations the mining industry needs to adopt next, a paper published by global law firm White & Case says.

According to Lucapa, policy shifts in the southern African country allow management to plan for the sale of such high-value stones, something the company was not able to do before.

The world's top diamond producer by value has led industry efforts to both verify the authenticity of diamonds and ensure they are not from conflict zones where gems may be used to finance violence.

The C$107 million-acquisition ($82m) gives the miner access to the Chidliak diamond project in Canada, which hosts at least 74 kimberlites, eight of which are potentially economic.

Efforts to broaden the scope of the Kimberley Process, set to prevent the sale of so-called "blood diamonds", have been stymied for a decade by member states including China, Russia and a number of African nations.

DRC President Joseph Kabila vowed delayed elections will take place as planned this year.

Botswana's economy is expected to expand by 4.5 percent this year.

In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.

Since their discovery in early 2009, the ruby deposits near Montepuez in Mozambique have produced an impressive number of exceptional-quality stones.

Sales for the seventh cycle stood at a provisional $505 million, down $134 million or 21% from what De Beers got at the same cycle in 2016, when it began releasing this kind of data.

Rio Tinto and Dominion Diamond Mines have revealed three of the finest large rough diamonds from their Canadian diamond mine.

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