News
De Beers transfers initial BWP 1 billion contribution to Botswana’s Diamonds for Development Fund
De Beers has transferred its initial BWP 1 billion ($73 million) contribution to the Diamonds for Development Fund, marking a major milestone for the initiative designed to support Botswana’s long-term economic diversification.
Today
Valterra Platinum's refined PGM output falls 41%, sales decline 27%
Valterra Platinum's refined platinum group metal (PGM) production decreased by 41% to 576,900 ounces for the third quarter ending 30 September 2026.
Today
Swiss watch exports rise 11.7% in September, driven by sharp U.S. shipments increase
In September, the value of Swiss watch exports grew by 11.7% compared to the same period last year, reaching 2.226 billion Swiss francs ($2.74 billion). This marks the fourth consecutive month of growth.
Today
New $1.8bn copper smelter under construction in Kazakhstan
Construction of the Aktogay copper smelter has begun in the Abai Region of eastern Kazakhstan. The $1.8 billion project is being implemented by the KAZ Minerals group.
Today
Anglo American appoints Anne Wade as senior independent director
Anglo American has appointed Anne Wade as senior independent director, effective immediately.
Today
Luxury Consumer Confidence and Spending Up, Says Latest Survey
16 september 2009
Luxury consumers are starting to recover from the recession, suggests the latest Luxury Tracking survey conducted by consulting firm Unity Marketing. Some 48 percent of affluent luxury consumers believe that their personal financial situation will improve over the next twelve months, the highest level reached since the third quarter of 2007, finds the survey.
Keeping a calm head through the financial crisis - CEO Rosy Blue Group
15 september 2009
Although this is neither the first, nor the most serious, crisis our industry has faced, what makes this crisis different is the inexplicable speed of developments, asserts Dilip Mehta, CEO Rosy Blue Group. Meanwhile, says Mehta, if there is a positive outcome from the global financial crisis in the context of the diamond industry, it would be the industry’s restructuring and consolidationustry.
The risk of a double-dip recession is rising
14 september 2009
“The global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression. There are three open questions now on the outlook. When will the global recession be over? What will be the shape of the economic recovery? Are there risks of a relapse?” These questions are posed by Nouriel Roubini, Professor of Economics at the Stern School of Business, New York University, writing in the Financial Times.
BEE's festering sore
11 september 2009
There's a festering sore in the business world that is causing increasing distress, but nothing is being done about it because it is simply "not fitting" to discuss it. It concerns the levels of debt that have been incurred to achieve the objectives of black economic empowerment, and which are becoming unsustainable in the current financial crisis. Unease in this regard permeates the entire economy, but it is particularly serious in the mining industry.
Generic talk: AWDC's CEO looks at the International Diamond Board
10 september 2009
Freddy J. Hanard: “Competition among companies in the diamond sector is a healthy thing, but we share many common interests which necessitate working together. A primary example is the generation of demand for diamond products and the defence of consumer confidence in diamonds and the diamond business.”
