Laurence Graff, the undisputed king of uber-expensive diamonds, will earn a tidy $290 million windfall when he restructures his Mayfair-based company and will vastly boost his paper wealth when Graff Diamonds lists in Hong Kong for as much as $4 billion.
The Colorado company is destined to become the number one producer outside China, but the rapidly changing economics of the industry has seen its stock decline 20% this week and 74% since May last year.
Less than a month after officially launching its asteroid-mining plans, Google’s billionaire co-founders and filmmaker James Cameron’s owned company Planetary Resources, has already decided not to accept any more job applications.
China won’t meet its carbon and energy intensity targets unless dramatic changes to its electricity grid are applied, says a study by U.S.-based Energy Transition Research Institute.
Peru’s illegal mining exports reached $1.8 billion in 2011, exceeding even drug trafficking profits, which accounted for $1.2 billion, said local consultancy firm Macroconsult.
If the EU joins the US in flooding the market with cheap money it will be a massive boon for gold. It is worth remembering that before the Fed kicked off QE1 on 16 December 2008 an ounce of gold was changing hands for $837.
Move over Mark Zuckerberg. Russia’s Mikhail Prokhorov, who Forbes ranks as the 58th richest person globally, has filed a prospectus to list his Intergeo MMC in Toronto, announcing it the day before Facebook goes public.