De Beers sales rise 12% as diamond demand recovers

The Swiss miner was granted a temporary injunction against the Israeli billionaire after petitioning the London court to rule against a Congolese judge’s decision last week to freeze assets at its Kamoto Copper project.

Most claimants are black miners from South Africa and neighbouring countries such as Lesotho, whom critics say were not provided with adequate protection during and even after the Apartheid ended in 1994.

Company is accelerating expansion of its African zinc operations to take advantage of a surge in zinc prices.

Gertler, who is the subject of U.S. sanctions, is owed some royalties by Glencore, but the London-listed company disputes the amounts claimed.

Lack of new projects, investment deficit and increasing political risk will hit supply of cobalt, lithium, copper and nickel, key metals for making the batteries that power electric cars.

The two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources.

The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it was placed under judicial management last year.

Shares fell as much as 3.9% after the company said late Friday that a Congolese court authorized bailiffs to freeze certain Glencore assets after Israeli billionaire Dan Gertler served orders on local units for almost $3 billion in damages.

What the bears seem to have in common is the belief that a rush of new lithium supply will soon hit the market.