Search results
Results From The WOW.Com Content Network
Diamond giant De Beers has seen its stockpile reach $2 billion, the biggest since the 2008 financial crisis, according to the Financial Times. "It’s been a bad year for rough diamond sales ...
De Beers has accumulated the biggest stockpile of diamonds since 2008, the Financial Times reported. Weak demand and rising competition from lab-grown products are weighing on the diamond titan.
De Beers tried its hand at growing a lab-grown diamond jewelry business for six years before ditching it earlier this year. But a segment of that failed attempt has flourished—and it has nothing ...
The report, like the article, utilised aggregated data produced by the Kimberley Process (KP) certificates of import-exports, relying on figures listed by the diamond companies themselves, in which De Beers was the dominant player.
The 350-page report found that De Beers had overmined the diamond reserves ahead of Namibia's independence: The excessive depletion of the deposit was a preferential depletion of the more valuable deposits to the detriment of the low grade deposits, and therefore a breach of the provisions of Clause 3 of the Halbscheid Agreement.
The Victor Mine was the first Canadian diamond mine located in Ontario, and De Beers' second diamond mine in Canada (after the Snap Lake Diamond Mine).It is located in the Northern Ontario Ring of Fire, in the James Bay Lowlands 90 kilometres (56 mi) west of Attawapiskat in the remote northern part of the province.
The Diamond Trading Company (DTC) is the rough diamond sales and distribution arm of the De Beers Group. The DTC sorts, values and sells about 35% of the world’s rough diamonds by value. [ 1 ] The DTC has a combination of wholly owned and joint venture operations in South Africa (DBSSSA), Botswana (DTCB and DBGSS), and Namibia ( NDTC ).
De Beers and its partners approved it in June 2011 and are preparing a plan and budget for a final decision on whether to go ahead with the mine project. [ 4 ] [ 5 ] If it proceeds to an operating mine, is expected to annually mine 3,000,000 tonnes (3,000,000 long tons ; 3,300,000 short tons ) of kimberlite, and to produce 4,500,000 carats (900 ...