Vladimir Rybkin, Head of Gohran of the Russian Federation, answered the questions put by the correspondent of Rough&Polished.
Namibia’s leading diamond producer, Namdeb revealed recently that its output for 2009 was expected to be less than half that of last year. The company said it was also experiencing lower quality ore at its land operations and would not raise production until its brownfield expansion projects materialised. Rough & Polished’s African Bureau Editor Veronica Novoselova had an interview with Namibia’s Diamond Commissioner, Kennedy Hamutenya who spoke widely on the operations of Namdeb.
The Institute for Regional Economy of the North is currently the only scientific entity in Russia called to develop scientific grounds for economic policy, development of market economy, social and economic policy and rational accommodation of productive forces and branches of the national economy in the North taking the Republic of Sakha (Yakutia) as an example. Mikhail Nikolayev, Doctor of Economics and First Deputy Director of the Institute, in his interview to Rough&Polished told about the activities of this scientific body.The Johannesburg Stock Exchange (JSE) suspended the listings of two South African junior miners after they failed to comply with the listing requirements of the bourse.
JSE said in a statement that Thabex and Kimberley Consolidated Mining (KCM) had failed to submit their provisional reports to the bourse within the stipulated three-month period.
This is not the first time Thabex has had its listing suspended on JSE.
It was suspended on October 1 last year for failing to submit its annual financial statements on time.
However, it was reinstated two weeks later after it had posted its annual report to shareholders.
Operations of the two diamond juniors had been badly affected with lower demand and prices for diamonds.
Thabex, which owned a 70 percent stake in Lesotho-based diamond-miner, Angel Diamonds announced that it would sell 9, 33 percent of its interest in the firm to UK diamond exploration company, Mantle Diamonds.
It had initially planned to sell 42 percent of its stake to Mantle for USD2-million.
Meanwhile, KCM announced in June that it was still in talks with China National Geological & Mining for a possible transaction that would strengthen its cash resources.
KCM scaled down active mining and prospecting operations at its Bo-Karoo mine due to a weak diamond market that was badly bruised by the global economic downturn.
Mathew Nyaungwa, Rough&Polished from Namibia
Rough&Polished
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