Diamond market weakness prompts De Beers to curb supply

Robert Gannicott is remembered as one of the pioneers and champions of Canada’s diamond industry, which he helped shape for more than two decades.

Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.

The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.

It’s the glittering lure of a possible multi-billion dollar diamond discovery that’s lighting up northern Saskatchewan.

Most of them have been after existing operations and companies, rather than trying to build mines from scratch.

Output rose 16% to 3.7 million carats, which puts Petra on track to hit its long term annual target of 5 million carats in 2018, a year earlier than planned.

De Beers underground mine in Canada's arctic, shuttered since December, cost $1.7 billion to build and operate and never turned a profit.

Faced with declining domestic production, China's top copper company — Minmetals — said earlier this year that the "only solution” was going overseas, and many are following its steps.

This was supposed to be a key year for Dominion, especially with the commencement of mining at the company’s rich Misery Main pipe at its Ekati mine.