South Africa labour disputes weigh on Petra Diamonds results

Botswana is setting out to lower the fiscal burden on resources investors in a charm offensive that separates it from the mining jurisdictions that are currently looking to increase mining taxes.

New research released Monday indicates that listed mining and resources companies across the world are keen to comply with the UN’s Guiding Principles on Business and Human Rights, which were officially adopted one year ago, but must keep up the momentum in order to maintain public confidence in their efforts.

The Oppenheimer family, controller of giant diamond miner DeBeers since 1927, has officially let go of its 40% stake in the company after South Africa’s Mineral Resources Minister approved the acquisition by Anglo American.

The Declaration is a statement of cooperation between the partners for the responsible development of Stornoway's 100% owned Renard Diamond Project based on the principles of environmental protection, social responsibility and economic efficiency.

De Beers Canada released its 2011 Year in Review, summarizing the company's performance in the areas of operations, finance, sustainability and contributions to Canada and the communities in which we operate. For the first time, it also includes the Snap Lake Socio-Economic Report, which details our commitments specific to the Northwest Territories.

The successful restructure of Namakwa Diamonds’ operations in Lesotho has turned the company's operations cash-flow positive, reduced costs and positioned the company for the next stage of development, said CEO Richard Collocott.

Polished diamond sales fell 33% to $1.51 billion in the first half of 2012 from $2.26 billion in the first half of 2012, said Monday Shmuel Mordecahi, responsible for the diamond industry at the Israeli Ministry of Industry, Trade and Labour.

The exhibition, displaying more than 10,000 diamonds, brings together seven of the nine principal stones cut from the famous Cullinan Diamond for the first time ever.

According to RBC Capital markets, current price weakness in the diamond sector is likely to continue, most likely into 2013, on the back of slowing growth and discrepancies between rough and polished prices.