Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Anglo stake in De Beers "worthless", says analyst

08 april 2009

Anglo shares reached its highest in nearly three months last Friday, when a $2 billion bond offer eased rights issue fears. However, Barclays Capital was more concerned about De Beers, in which Anglo has a 45% stake, reported citing Financial Times.
While other brokers value the stake at up to $2 billion, BarCap considered it worthless, said the FT report.
"The extent of De Beers' problems may be under-appreciated by the market and should ultimately be an incremental negative for the Anglo American share price," analyst Christopher LaFemina said.
De Beers reported $3.6 billion of debt at the end of 2008 - about 30 times BarCap's forecast of its operating earnings this year, according to the FT report. De Beers has also needed loans totalling about $762 million from its three shareholders, it said.
"We are concerned that more shareholder loans may be necessary to keep De Beers afloat," BarCap said. "Anglo American's cost of capital is not zero, and repayment of these loans is not certain. In our view, these interest-free loans destroy value for Anglo American shareholders."