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Tag Archives: Million
Net Polished Imports U.S. $ 628.6 million in May
Gross imports of polished diamonds to the growth in May, but the peculiar development of exports than imports more measured than by volume, to be continued for another month. U.S. gross imports of 0.61 billion euros a 29 percent increase over the previous year. MINING.com News
LKI Sues Insurance Firms for $140 million in Diamond Losses
Lazare Kaplan International is suing a number of insurance companies for $140 million in diamond losses. Lazare Kaplan, and three other associated companies, claims that $94 million in diamonds delivered to Gulfdiam were never paid for. $60 million in diamonds were sent by Gulfdiam to Gemport were never paid for. Another $34 million in diamonds that went to A.D. Middle East FZE and Overseas Hong Kong Ltd were “lost,” according to a court filing.
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De Beers to Limit Production to 40 Million Carats a Year
In a drive to extend diamond reserves, De Beers will place a 40 million cap on its annual diamond production starting in 2011. The move will likely drive up the price of rough diamonds, ahead of an expected public listing of the company.
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De Beers Q1 Production 7 Million Cts
De Beers mined 7.012 million carats of diamonds in the first quarter of 2010, according to an Anglo American plc production report released today (Thursday). The diamond production represents a 548 percent increase from the first quarter of 2009 and a 31 percent decline from the December 2009 ending quarter.
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Ekati’s Q3 Production 1.19 Million Carats
BHP Billiton’s Ekati diamond mine produced 1.189 million carats in the third quarter, a 19 percent decline compared to the March ending quarter of 2009. BHP Billiton’s 80 percent share of production came to 951,000 carats, the company reported today (Wednesday).
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Alrosa Expects April Sales at $300 Million
Russia’s diamond mining firm Alrosa expects to sell about $300 million worth of rough and cut diamonds in April, according to a company statement quoted by Interfax. The company is forecasting $2.314 billion in mine output and $3.3 billion in sales revenue in 2010.
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Lazare Kaplan Delays Filing, Q3 Net Sales $29 Million
Lazare Kaplan International said on Wednesday that it has notified the Security and Exchange (SEC) that it will be late in filing its quarterly report. The diamond company said that it continues its efforts to resolve what it calls “material uncertainties.” It currently estimates net sales at approximately $28.9 million.
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Rio Tinto Q1 Diamond Production 3.5 Million Carats
While Rio Tinto stepped up production at Diavik in the first quarter of 2010, production at Argyle continues to slow down. The miner produced a total of 3,497,000 carats of diamonds in the quarter, a 21 percent decline compared to the preceding fourth quarter of 2009 and a 36 percent decline compared to the first quarter of 2009.
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Namibia’s 2009 Diamond Production 0.93 Million Ct
Namibia produced 929,006 carats of diamonds in 2009, less then half its production in 2008 when the country produced 2.2 million carats. The country’s central bank said diamond production will rise 18.8 percent in 2010.
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