> Botswana: Crisis Opens a Window of Opportunities
> A few hours at the 2009 Mining Indaba conference in Cape Town was sufficient to hear enough De Beers-related gossip to keep any investigative journalist busy for months researching whether or not there is fire burning under all the smoke.received your copy as yet,
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(February 12, 2009 - Memo) |
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De Beers Shareholders to Provide $500M Loan, As Sights Shrink
With a dismal outlook for rough diamond sales in the coming year, De Beers turned to its shareholders for a $500 million loan, an Anglo American release reveals. Anglo American holds a 45 percent stake in De Beers, The two other shareholders are the Republic of Botswana (45%) and the Oppenheimer family. |
(February 21, 2009) |
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Nedbank Sues Peykar, Claiming Embezzled $37 Million in Diamonds
The South African bank Nedbank Ltd. has sued Peykar International Co., claiming one of its owners embezzled $37 million in diamonds, Bloomberg reported Thursday. Peykar is accused of not paying for memo goods it received from New York- based Fine Diamonds LLC, a subsidiary of South African Sightholder Festdiam which now in liquidation. |
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(February 08, 2009) |
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> De Beers 2008 Rough Diamond Sales $5.93 Billion
Total De Beers Group sales in 2008 rose 1 percent to $6.888 billion, the company announced Friday. Natural rough diamond sales, including joint ventures, totaled $5.93 billion, rising a minute 0.17 percent from $5.92 billion. Production decreased sharply. |
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(February 21, 2009 ) |
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In Court Of Public Opinion: Kimberley System vs Accountability & Transparency
The Kimberley Process Certification Scheme (KPCS) is not a private business belonging to Aunt Susie or Uncle Marcus. The members are representatives of 49 governments who take the position of their respective governments. They are and must be held accountable for their actions. |
(February 19, 2009 - Memo) |
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PAC Attacks KP, Says Zimbabwe Commits Diamond Atrocities
“The government of Zimbabwe, no stranger to violence, has killed dozens of artisanal alluvial miners in order to clear them from the country’s diamond fields,” NGO Partnership Africa Canada writes in the opening of a critical review of Zimbabwe. PAC further criticizes the Kimberley Process, which supported by a number of countries, is turning a blind eye to the human toll. |
(February 19, 2009) |
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> Petra Buys Tanzanian Diamond Mine from De Beers
Petra Diamonds has completed the acquisition of Willcroft Company Limited from Cheviot Holdings Limited, a subsidiary of De Beers. Willcroft holds a 75 stake in Williamson Diamonds Limited, the owner and operator of the Williamson diamond mine in Tanzania. |
(February 19, 2009 ) |
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Blue Nile 2008 Sales $295.3 Million, Hurt by Tough Holiday Season
Blue Nile’s fourth quarter sales fell to $85.8 million Adjusted for the extra week in the quarter, quarterly sales declined 26.8 percent. Net income totaled $3.5 million compared to $7.5 million in the fourth quarter of 2007, falling 53.3 percent. |
(February 19, 2009) |
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> Report: Mugabe’s Wife Wants A Diamond Polishing Plant
Grace Mugabe, the wife of Zimbabwe President Robert Mugabe, traveled to Hong Kong in January to make a multi-million-dollar investment in a diamond cutting and polishing plant in Qingdao, China, according to The Sunday Times. |
(February 18, 2009 ) |
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> U.S. Jewelry Store Sales ~$29 Billion in 2008
Jewelry store sales in the U.S. totaled $5.26 billion in December. Together with November sales of $2.3 billion, jewelry store holiday sales totaled $7.56 billion, falling 18.5 percent compared to the 2007 holiday season, based on figures released by the U.S. Department of Commerce. |
(February 17, 2009) |
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> Buffet Places $250 Million on Tiffany
Warren E. Buffett is enlarging his investment in jewelry retailing, agreeing on Thursday to buy $250 million of debt from Tiffany & Co. via subsidiaries of his holding company Berkshire Hathaway.
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(February 16, 2009) |
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> Even-Zohar: We Have a Structural Problem That Needs to Be Solved
The global economic crisis is a blessing in disguise, said diamond industry analyst Chaim Even-Zohar. According to Even-Zohar, the crisis exposed the need for restructuring and consolidation. |
(February 10, 2009) |
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> Protest Outside Graff Over Proposed Gem Diamonds Kalahari Mine
> Survival International is calling for a protest outside of Graff Diamonds’ flagship London store to demand that Gem Diamonds pulls out of a diamond mine planned on the land of the Kalahari Bushmen in Botswana. Laurence Graff is a minority shareholder in Gem Diamonds. |
| (February 09, 2009 ) |
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LVMH Does Well, But Profit from Jewelry & Watches Falls in 2008
LVMH Moët Hennessy Louis Vuitton reported group revenue of €17.2 billion in 2008, an increase of 4 percent over 2007. Organic revenue, the company said Thursday, grew 7 percent for the year. |
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February 08, 2009) |
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