They claim it won’t be possible to cut costs enough to offset the higher levies, and warn that some miners may need to pass on this new cost increase to the industrial production chain.
The LME has sent a directive to all suppliers asking them to detail how they guarantee “responsible sourcing” of the commodities they trade in the exchange.
Debmarine Namibia, a 50/50 joint venture between the country and De Beers Group, tis planning for the construction of the world’s largest custom-built diamond mining vessel.
In an alliance with International Mining and Dredging Holdings, the Canadian miner ran a bulk sampling program whose results "were extremely encouraging."
With global diamond demand forecast to grow at approx 3.5% annually over next five years, a supply gap down the line seems inevitable if forecasts hold.