News

Kuvimba Mining House’s deal with government to take over Ziscosteel gives it the almost impossible task of refiring a steel mill that has been silent for two decades. But the company, which has tried to shake off links to businessman Kuda Tagwirei, took the deal knowing that it is getting some of the richest iron […]

The Israel Diamond Exchange (IDE) has opened an office in Dubai’s Almas Towers to facilitate business for Israeli diamond companies operating in the country. The IDE debuted its new location following the Dubai Diamond Conference. It will be located at the Dubai Diamond Exchange (DDE), inside the Dubai Multi Commodities Centre (DMCC), the DMCC said […]

De Beers lifted prices of smaller rough at this week’s sight, its second consecutive increase, as the industry continued to express concerns about a perceived mismatch with polished. Goods weighing less than 0.75 carats saw price hikes of around 5% at the February sale, while larger items were mostly stable, sightholders and industry insiders told […]

The International Energy Agency’s (IEA’s) Global Methane Tracker, released on February 23, shows that emissions from oil, gas and coal are on the rise again, underscoring the need for greater transparency, stronger policies and immediate action. The new IEA analysis states that global methane emissions from the energy sector are about 70% greater than the […]

Diversified giant Rio Tinto has reported record results for the 2021 financial year, with a 116% surge in aftertax profit. “Our people have continued to safely run our world-class assets and are working hard to improve our operational performance, despite challenging operating conditions from prolonged Covid-19 disruptions,” CEO Jakob Stausholm said on Wednesday. “The recovery […]

Botswana’s State-run diamond trader reported record revenue last year with sales surging almost five fold after imports from the US recovered from a Covid-19 induced slowdown. Okavango Diamond Company sold $963-million of rough diamonds last year, said Dennis Tlaang, a company spokesman. The revenue was the most since the company began operations in 2012, he […]

The first half of the 2022 financial year has set London-listed Petra Diamonds in good stead to maintain profitability and cash flow, as well as meet operational guidance for the full-year. In the six months ended December 31, 2021, Petra grew its adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) by 87% to $150-million, […]