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> IDEXONLINE MEMO |
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Chaim Even-Zohar
Temporary South African Pain Relief
When government regulators mess up – and especially when they know it – they may quietly welcome court intervention to assure that things will remain workable. |
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> Buyers Fail to Show up in Las Vegas
It was inevitable, really, with the current economic situation being so tough that numbers would be down at the events that make up Las Vegas’ mega show week. Rumors put figures at 40 percent below regular attendance. |
(July 02, 2008) |
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> Rio Tinto to Suspend Investment in Zimbabwe
Owing to the political situation in Zimbabwe, Rio Tinto will not expand its Murowa mine in the country until conditions improve, Rio Tinto Diamonds General Manager Jean-Marc Liberherr said. |
(July 03, 2008) |
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> Petra Appoints New Diamond Marketing Manager
Petra Diamonds has appointed Gregory Stephenson as diamond marketing manager, a newly created position responsible for sourcing, valuing and marketing the entirety of Petra’s rough diamond production. Stephenson will head up the pre-existing team that markets its diamonds. |
(July 02, 2008) |
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> Gem Diamonds Tender Fetches $42,000 Per Carat Average
Gem Diamonds recently held a tender of large rough diamonds recovered from its Letšeng mine in Lesotho, in which a 10 diamonds, 261.4 carats total, were sold at a high average price of $42,000 per carat. The diamonds varied in size from 11.8 to 70.7 carats and in colors of D though F. |
(July 02, 2008) |
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> LLD Denies Allegations of Firing Suspended Workers on Strike
The Mineworkers Union of Namibia (MUN) has claimed that Lev Leviev Diamonds’ (LLD) polishing facility in Windhoek fired two workers who are also members of the union’s executive committee. LLD has denied the allegations. |
(July 01, 2008) |
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> South African Union in Wage Dispute with De Beers
South Africa’s National Union of Mineworkers (NUM) on Friday accused De Beers of reneging on a deal for a 12 percent wage increase, Reuters reported. The union said on Thursday that De Beers had agreed to the wage increase but said later that the mining firm then changed its proposal. |
(June 29, 2008) |
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> Integrity of Diamonds Impacted by Trade Transparency in Africa, Penny Says
De Beers Managing Director Gareth Penny called for increased transparency in the way diamonds are traded in Africa, saying that such transparent and good governance has a positive impact on the integrity of diamonds as a product. |
(July 03, 2008) |
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> 5.2 Carat IF Diamond Ring at Sotheby’s
Sotheby’s ‘Important Jewels Antique and Contemporary’ auction will offer a 5.20 carat H / IF pear shaped diamond ring. The diamond is expected to realize anywhere from £80,000 to £120,000 ($159,000 to $239,000). |
(July 02, 2008) |
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> Tel Aviv Trend at Jovella
With an aim to raising the profile of the Israeli Jovella jewelry show, the event organizers brought over Paola De Luca and Paolo Novembri of the TJF Group for a seminar entitled "Jewelry Directions – Seasons 2009." |
(July 03, 2008 ) |
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> WDC Annual Meeting Calls to Continue Fight Against Conflict Diamonds
The sixth annual meeting of the World Diamond Council (WDC) concluded Tuesday, with a call to continue the drive to eradicate the trade in conflict diamonds. WDC Chairman Eli Izhakoff said that while the Kimberley Process (KPCS) has been effective in preventing diamonds from conflict areas from entering the market, the system will work effectively only if all diamonds are traced. |
(July 02, 2008) |
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> Strikes at Botswana Polishing Plants
A number of strikes have taken place recently at polishing factories in Botswana – one of them at Dalumi Botswana. Although their purpose is unclear, the strikes are being viewed by some as ‘union muscle-flexing.’ |
(July 01, 2008) |
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> DTC to Raise Prices, Says Won’t Be a “Significant” Increase (Updated)
The Diamond Trading Company (DTC) is planning to raise prices, the company told Sightholders, some of whom understood the increase to be a “significant” one. The hike will most likely not take place at the upcoming July Sight, but rather at the August Sight. |
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(June 30, 2008) |
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