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15 october 2018

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08 october 2018

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01 october 2018

India is poised to become a major fine jewellery market in the near future - Pramod Agrawal, Chairman GJEPC

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24 september 2018

Color diamonds are more valuable and desirable and a better investment

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17 september 2018

De Beers to close Voorspoed mine

01 august 2018
De Beers said it will proceed with the responsible closure and rehabilitation of Voorspoed Mine in the Free State Province, in South Africa.
It said the decision followed an extensive, transparent and comprehensive disposal process, which involved a rigorous due diligence exercise on the bidders to acquire the mine.

Image credit: De Beers Group

De Beers Consolidated Mines(DBCM) chief executive Phillip Barton said they failed to identify a suitable bidder and had reluctantly taken the decision to close the operation, as it was no longer economically viable for the company to operate the mine.
“We do not underestimate the impact this will have on Voorspoed Mine’s employees and we have put in place appropriate support structures,” he said. 
De Beers said South Africa’s Department of Mineral Resources (DMR) had requested that it runs its closure process in parallel with a separate process through which the department would seek to identify and propose an operator capable of purchasing the mine.
“DBCM will engage further with the DMR in relation to the proposal in order to understand and finalise the basis upon which it will be undertaken,” it said.
Voorspoed was opened on 4 November 2008 with an expected operating life of mine of 10 years.

Mathew Nyaungwa, Rough&Polished