Debmarine Namibia, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers Group, today announced it is planning for the construction of the world’s largest custom-built diamond mining vessel. The new vessel, which is projected to cost approximately US$142 million (£107m), is expected to commence operations in 2021. It will…
De Beers operating profit up 112% to $1 billion
Customer demand and prices increase in 2013 with 31.2m carats mined. De Beers has announced its full-year results for 2013 through majority shareholder Anglo American, with increased production reflecting improved asset performance and customer demand, and higher prices realised for its stones. In total, De Beers generated an underlying operating profit of $1 billion (£598m)…
Gem Diamonds sparkles with haul of 160ct stones
Diamonds from Letseng mine will be sold at company’s February tender. Gem Diamonds has recovered two rough diamonds of more than 160 carats each at its Letšeng mine in Lesotho. The stones were uncovered at the end of January. The first is a 162.06 carat type II diamond and the second is a 161.74 carat…
Rio Tinto diamond revenue hits £260m in H1
Mining giant anticipates production of 15.7 million carats in 2013. Rio Tinto has released its underlying financial results for the six months to June 30 2013, with its diamond business’ gross revenue hitting $403 million (£260m), up from 2012’s H1 revenue of $350 million (£226m). The London-based mining giant’s overall earnings reached $4.2 billion (£2.71bn)…
Petra H2 revenue up 63%; losses total £10 million
Diamond miner planning robust expansion in 2013. Petra diamonds has announced its unaudited interim results for the six months to December 31 2012, following its trading update posted at the end of January. The mining company’s revenue was up 63% to US$151.7 million (£100m) in the period, compared to H1 of the financial year 2012,…
Petra Diamonds production up 98% year-on-year
Company’s revenue increases 44% to £202 million. Petra Diamonds has released its unaudited results for the year ended June 30, outlining strong production growth equating to an increase of more than 98% year-on-year, with a production target of more than two million carats achieved. Petra’s revenue totalled US$316.9 million (£202m), an increase of 44% compared…
De Beers sales slow in H1, falling 14%
Forevermark brand moves into new countries with new stores planned. De Beers has released its H1 interim results for the six months ended June 30, with total sales decreasing 14% to US$3.3 billion (£2.1bn). Highlights show that sales of rough diamonds from De Beers Diamond Trading Company (DTC) totalled $3.1 billion (£1.9bn), with De Beers…
Petra Diamonds set to focus on quality over volume
Petra’s year-end results show current market for supply and demand. Petra Diamonds Limited has announced its unaudited sales and production update for the year ended June 30, with results that give an indication of the current situation of diamond production and demand. The company will announce its full financial results for the period on September…
