Governments of Botswana, Angola Join WFDB
May 19, 26
The governments of Botswana and Angola have become affiliated members of the World Federation of Diamond Bourses (WFDB) in a move that signals closer ties between producer countries and the trading community. The announcement was made yesterday... Read More...
KP Must Meet Minimum Expectations, says Civil Society
May 19, 26The Kimberley Process must "think beyond superficial marketing adjustments" and meet its minimum expectations, the civil society observer body said in a hard-hitting assessment ahead of last week's KP intersessional meeting in Mumbai. The Kimberley ... Read More...
Production Halted at Murowa Diamond Mine
May 19, 26Production at the Murowa diamond mine, in Zimbabwe, has reportedly been suspended, as owners RioZim struggle to pay workers and creditors. The situation is "deeply worrying", according to Fred Moyo, the country's deputy minister of mines and .... Read More...
Watches of Switzerland: US Surge Drives Sales to $2.4bn
May 18, 26Watches of Switzerland (WoS) reported a 13% increase in annual sales to $2.4 billion, driven largely by strong momentum in its US retail business. Over the 12 months to the end of April, US sales rose 24% in constant currency (18% reported), and now... Read More...
India Hikes Gold Tariff from 6% to 15%
May 18, 26India has more than doubled tariffs on gold and silver - up from 6% to 15% - in a move aimed at easing pressure on its foreign exchange reserves. The increase took effect on 13 May, just three days after Prime Minister Narendra Modi called on people to stop buying... Read More...
Memo by John Jeffay
May 14All is not well in the world of diamond mining. Owners of Ekati, in Canada's Northwest Territories filed for insolvency protection last week, just months after agreeing almost $130 million in federal loans. In South Africa, the troubled Ekapa mine is up.... Read More...