In Guinea the new National Transitional Council has begun debating a mining code that proposes the government own a 35 percent stake in commodity companies. Rumors have it that the code recommends a free participation level of 15 percent for the government and the right to buy another 20 percent.
Australian mining companies are increasing their investment in African mines. The Foreign Affairs Minister Kevin Rudd said in a pre-recorded message to more than a thousand delegates at a mining conference in Perth that Australia was committed to sharing its mining experience.
Zimbabwean blood diamonds continue to hit the headlines as it has come to light via a leaked memo that a government subsidiary company is offering to sell $200 million worth of the controversial diamonds to an unknown buyer.
The Ghana Environmental Journalists Association complimented the government and its partners for reviving the Ghana Diamond Company.
The next time you look at the flame of a candle think about tiny diamond particles that contribute to its brilliance. As per Dr Wuzong Zhou from the St Andrews University there are 1.5 million diamond nanoparticles in a candle’s flame. A fact that the Chinese who invented the first candle more than 2,000 years ago could not have possibly known.
The government of Namibia has withdrawn its proposed mining tax hike. Earlier in the year the Namibian government had announced a proposal to raise the mining tax rate to 44% from its current rate of 37.5 %. The Deputy Finance Minister of Namibia, Calle Schlettwein, said that the proposal had been withdrawn to increase the corporate tax on mining companies.
OSISKO and OREX EXPLORATION is willing to offer the shareholders the results of the final assay from the diamond drilling operation that commenced during April, 2011 at the completely-owned Goldboro gold property of Orex in Nova Scotia.
Diamonds North Resources has commenced the 2011 exploration campaign at the Amaruk Property, Nunavut. This exploration will focus on the first priority gold prospects and follow-up of the latest kimberlite target formation discovered from the electro-magnetic (EM) airborne information.
The demand for diamonds is likely to wane in India as the price of gems surge. India is the largest exporter of polished precious stones in the world. However the representatives of Titan Industries Ltd feel that current price rises of 60-70% for polished stones may see consumers buying gold over diamonds.
Diamond sales in India, China and the Middle East are responsible for a 30% rise in total global sales of the precious stone. As per diamond giant De Beers the last six months saw the price of diamonds go up by 35% as well. There seems to be no stopping diamond sales over the coming months as well as per analysts.
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