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De Beers Averts Strike With 12% Pay Rise
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Avi Krawitz |
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De Beers avoided a strike Thursday when the National Union of Mineworkers (NUM) accepted its proposal for a 12 percent wage increase for its South African workers. NUM had rejected De Beers’ previous proposal of an 11 percent rise saying its members would start striking at 6 p.m....
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Gem Diamonds Plans Polished Production Launch in January 2009
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Avi Krawitz |
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Gem Diamonds is setting up two diamond manufacturing facilities and is planning to start polishing stones from January 2009. Company CEO Clifford Elphick told Mining Weekly that Gem is currently negotiating the purchase of state of the art equipment to install in two cutting plants...
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Anglo American Contemplating Involvement In Russia
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Dialog NewsEdge |
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Interfax, MOSCOW: Mining giant Anglo American has discussed the possibility of launching operations in Russia with officials form the Russian Ministry of Natural Resources and Ecology. Russian Deputy Minister of Natural Resources and Ecology Sergei Donskoy held a working meeting...
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DiamonEx Prepares for First Lerala Diamond Sale
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Avi Krawitz |
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Junior mining company DiamonEx said Thursday it will hold the first sale of diamonds recovered from its Botswana-based Lerala mine at the end of August, following the successful commissioning of the mine. The Australia-based company said it would complete the last phase of...
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African Diamonds Declares Dispute with De Beers for AK6 License
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Avi Krawitz |
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African Diamonds said Thursday it has declared a dispute with De Beers over their shareholder agreement in the AK6 diamond deposit in Botswana and will go to arbitration. The London stock exchange listed company said it differed with De Beers on the economic viability to proceed with...
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Rio Tinto Diamonds Appoints New Head of India Office
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Avi Krawitz |
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Rio Tinto Diamonds, the diamond sales and marketing division of the Rio Tinto Group, appointed Vikram Merchant to head its Mumbai, India office. Merchant joins Rio Tinto after serving as business development manager of the Hindustan Diamond Company, an India-based supplier of rough...
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First Israel Diamond Pavilion at Mumbai Show
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Press Release |
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Ramat Gan, Israel, July 24, 2008: The Israeli Diamond Industry is reaching out to the Indian market, participating for the first time in the key India International Jewelry Show to be held from August 7 – 11 in Mumbai. The Israeli Diamond Industry Pavilion, organized by the Israel...
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Diamond News Broadcast
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Rapaport News |
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De Beers first-half '08 results are in -- chairman Nicky Oppenheimer and managing director Gareth Penny discuss the outcome and what is in store for the second half. Dorothee Gizenga, recently appointed executive director of the Diamond Development Initiative (DDI,) discusses the...
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Amazon 2Q08 Sales +41%, Net Income +103%
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Jeff Miller |
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Amazon.com's net sales rose 41 percent to $4.063 billion in second quarter, which ended June 30, 2008. The cost of sales rose 42 percent to $3.096 billion. Net income rose 103 percent to $158 million. The online retailer does not break out diamond and jewelry sales as a...
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Jewelers of America Offers Business Tips Program Online
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Jeff Miller |
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Jewelers are facing challenging times right now, and Jewelers of America (JA) is providing these retailers with actionable tools that will help them to succeed, said JA chairman John Green."If we can do one part of our jobs better, smarter and more cost effectively every...
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India: Lightweight Gold Jewelry Grows in Popularity
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Jeff Miller |
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Gold is increasingly being used to create new lightweight jewelry lines according to several jewelers in India. Even though gold prices have held near record territory most of this year, the jewelers contend that working women are demanding lightweight gold jewelry as it fits...
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Sarin Appoints Wexler to Marketing Post
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Jeff Miller |
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Sarin Technologies Ltd. appointed David Wexler as the company's new marketing director. Wexler is responsible for defining and executing Sarin's worldwide marketing strategy and programs and replaces Udi Lederer in that capacity. Wexler's experience spans nearly 15 years...
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Pres. Signature is Next Step for Ban on Gems, Jade from Myanmar
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Jeff Miller |
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Congress will send legislation to President George W. Bush that is meant to block firms from importing gemstones from Myanmar. While it is illegal for United States companies to directly import these products, the Tom Lantos Block Burmese JADE Act (H. Res.1341) will keep gems,...
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Credit Firm Warns Vendors to Hold Shipments to Mervyns
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Jeff Miller |
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Credit monitoring company Bernard Sands LLC warned vendors for retailer Mervyns to hold off supply shipments "primarily due to lack of communications from management."Bob Carbonell, chief credit officer at Bernard Sands, said that he's working with several dozen clients...
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China Calls Air Zimbabwe Report a Malicious Rumor
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Jeff Miller |
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China refuted The Age newspaper report out of Australia that claims Air Zimbabwe used flights to transport diamonds, ivory, and gold to Beijing in exchange for weapons. China's foreign ministry spokesman Liu Jianchao wrote in a statement, "The report proved to be malicious...
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Swatch Acquires Stake in Rivoli Group
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Jeff Miller |
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The Swatch Group acquired a stake in the Rivoli Group. The partnership is expected to support Rivoli's regional expansion strategy across the Gulf and India. Financial details were not disclosed.Rivoli is a private retail company based in Dubai and operates 245 retail...
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De Beers Posts Solid First Half Results
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Press Release |
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De Beers issued the following press release on its website (www.debeersgroup.com) on Wednesday, presenting its interim results for the half year to 30 June 2008. All amounts presented were in US Dollar millions. Half...
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Workers Union Says De Beers Calls For Urgent Meeting Ahead Of Strike
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Dialog NewsEdge |
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DowJones, JOHANNESBURG: De Beers SA, the world's biggest producer of diamonds, has called for an urgent meeting with union negotiators ahead of a planned strike that threatens its South African operations, the country's National Union of Mineworkers said Wednesday. NUM in an...
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Gary Ralfe Steps Down as De Beers Director
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Avi Krawitz |
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Former De Beers managing director Gary Ralfe has stepped down from the company’s board of directors ending a 34-year professional association with diamond group. De Beers announced changes to its board of directors on Wednesday as part of its interim earnings results, saying Ralfe...
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De Beers Sales +10%, Net Earnings -10%, Production -4%
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Avi Krawitz |
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De Beers reported Wednesday that first half sales rose 10 percent to $3.7 billion, spurred by some rough price increases implemented by its sales unit, the Diamond Trading Company (DTC.) DTC sales rose 10 percent to $3.288 billion. The world’s largest diamond mining company said...
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