Tag Archives: diamonds
diamonds: Latest News
Mongabay, 9:25 am
There’s a mistaken belief that Africa is a continent of empty, freely available land open for development. Companies investing in land in Africa feel they can cut a deal with the government, raze the land, and create vast plantations. “No land is unclaimed,” a stakeholder said. “Uprooting communities without their consent from their lands and traditional livelihoods creates conflicts and social unrest.” Most disputes involving private investments in Africa – 63 percent – relate to local people being displaced off their land. These disputes affect sugarcane and palm oil production, mining for gold, diamonds and coal, and green energy to harvest wind and solar power.
Dana Sanchez, 4:03 pm
Fifty years of uninterrupted democracy have inspired confidence in landlocked Botswana. Its 2.6 million people live in a semi-desert, rich in sunshine and diamonds. But failure to diversify the economy means 20% unemployment among youth. The government is preoccupied with having state-owned resources which stifles economic activity, an economist said. Then there’s the matter of “creeping authoritarianism.” Botswana needs to invest in renewable energy, a stakeholder said.
Dana Sanchez, 5:03 pm
Tailings reprocessing is gaining investment in South Africa for economic and environmental reasons. De Beers figured out a way to extract 815,036 carats of diamonds from 6 million tons of tailings — mine processing leftovers — around Kimberley in 2013. There’s enough left to continue operations beyond 2030. Entrepreneurs are finding similar opportunities with overlooked gold dust and rare Earth metals.
Keren Mikva, 1:52 pm
When it comes to the stuff bling is made of, Africa is enormously bountiful. Its mineral deposits make it one of the richest natural resource-laden places on Earth and everyone wants some. The following are the most mineral-rich African countries.
Dana Sanchez, 2:55 pm
The rough diamond market appears to be making a cautious recovery. Polished diamonds? Not so much. Monthly fluctuations show it’s too soon to tell. Lack of firm evidence for a diamond market recovery is not deterring diamond exploration. A Namibian joint-venture with De Beers recently took possession of its sixth mining and exploration vessel, price tag: $160 million. It’s the most sophisticated diamond sampling and exploration vessel in the world, and will operate off the Namibian coast.
Julia Austin, 12:21 pm AFKI Original
Four of the world’s 20 largest diamonds have been found at Lesotho’s Letseng mine — at 10,000 feet, the world’s highest-elevation diamond mine. In 2008, miners of Lesotho Gem Diamonds found a white 500-carat diamond in Letseng. It had very few inclusions, a rare color and was valued at $12 million before being cut up. Africa has more top diamond-producing countries than any other continent, and it’s the site of some mind-blowingly huge gemstones.
Julia Austin, 9:04 am AFKI Original
The Angolan diamond industry barely existed during the 1975-2002 civil war, but Angola caught up. The industry is on track to be worth $7.5 billion by 2018. Angola is trying to attract international investment. The CEO of the government-owned diamond company Endiama says 90 percent of Angola’s diamonds have yet to be discovered. Diamonds are a vital source of foreign exchange for cash-strapped African countries.
Staff, 12:15 am
Zimbabwean President Robert Mugabe has accused foreign mining companies of stealing the country’s wealth, and he said the government will take control of all diamond mines. The government has long appeared to be in control of operations at Marange diamond fields, where it had a 50-50 split with private companies. Some question how such “theft” could have happened without the government’s knowledge.
Peter Pedroncelli, 4:40 am AFKI Original
South Africa is one of the most mineral- and resource-rich countries in the world, and mining commodities are 60 percent of the country’s exports. The depreciation in commodity prices over the past few years has been a major blow to the South African economy, with the demand for many of the mineral resources waning internationally. Eight of South Africa’s 10 largest individual export categories are characterized as commodities.
Staff, 12:05 am
About 15% of the $4 billion in diamonds De Beers produces annually in Botswana is sold locally so they can be cut and polished in the country. As a result, 20 cutting and polishing factories owned by Belgians, Israelis and Indians, have set up shop there over the past decade. But falling diamond prices mean they’re laying off, with the number of employees plummeting. “If we had a way of encouraging the equipment suppliers to set up factories here, that would give even more sustainability to the business,” a government official said.
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