Last week, NUM said it was planning a strike at Venetia, as De Beers could only offer a 6% pay increase against demands for a 9% hike. Anglo American’s De Beers is confident ongoing talks with South Africa’s National Union of Mineworkers (NUM) will avert a wage strike at Venetia, the country’s largest diamond mine, the company said on Friday. On Tuesday, NUM, South Africa’s biggest mineworkers’ union, said it was planning a strike at
South Africa’s National Union of Mineworkers (NUM) on last week said it was planning to strike at De Beers’ Venetia mine after wage talks broke down, potentially disrupting operations at the diamond giant’s new $2.3 billion underground facility. NUM, South Africa’s biggest mineworker union, said its members were demanding a 9% wage hike, but Anglo American Plc unit De Beers was offering a 6% increase. “The NUM can confirm that the four-month wage negotiations with
Five dealers in New York’s Diamond District have been arrested and charged with illegally transferring more than $600 million since 2019, according to the US Department of Justice (DOJ). Raj Vaidya, Rakesh Vaidya, Shrey Vaidya and Neel Patel have operated “numerous purported diamond, gold and jewelry companies” in New York’s Diamond District, the DOJ said in a statement Last week. Those include Arya Diamond Jewellery which trades as Karats and Carats as well as Diamspark
The French fossil-fuel giant TotalEnergies’ planned oil pipeline in East Africa will exacerbate the global climate crisis, Human Rights Watch said in a report. The 47-page report, Our Trust is Broken”: Loss of Land and Livelihoods for Oil Development in Uganda, documents the land acquisition process for one of the largest fossil fuel infrastructure projects under construction anywhere in the world. The report is based primarily on over 90 interviews that Human Rights Watch conducted in
Oil prices rose this Tuesday 5th, due to the announcements of the maintenance of cuts in production and exports made by Russia and Saudi Arabia, the largest exporters of crude oil in the world. According to information from CNN, the price of Brent oil, an international reference, rose 1.8% and is trading above 90 dollars per barrel, while West Texas Intermediate (WTI), a reference in the United States, rose by a similar margin. and reached 87 dollars
Nafusah Oil Operations – a joint operation company formed by the Libya’s National Oil Corporation (NOC); Medco International Ventures Limited and the Libyan Investment Authority – has started production at the A-4 well in Libya. The well will produce up to 2,000 barrels per day (bpd) of crude oil, with pumping operations commencing for six months. Pumped oil will be transported to the Zawiya port in Western Libya via the Tahara field. According to the NOC, “The
Kenya has sold former oil refinery, Kenya Petroleum Refineries Limited (KPRL), to the state-owned Kenya Pipeline Company (KPC), paving the way for the facility’s conversion into a gas-to-power plant. The transaction will enable the rehabilitation of the refinery – which has been inactive for over ten years – so that it is equipped to generate power from Liquefied Natural Gas imported from Tanzania. The sale follows the completion of a feasibility study conducted by U.S.-based
De Beers Group has announced the successful sale of the Buffels Marine Mining Right, and associated assets, to Kleinzee Holdings Proprietary as of 7 August 2023. The Buffels Marine Mining Right was De Beers’ last remaining mining right at Namaqualand Mines. De Beers has been conducting rehabilitation activities since it ceased operations on the Buffels Marine Mining Right in 2010, while looking for a responsible operator for the mining right. Kleinzee Holdings is a consortium led by
Gem Diamonds reported a loss in the first half of 2023 as a slowdown in the market and a drop in production of large stones negatively impacted the average price. The miner posted a loss attributable to shareholders of $1 million for the six months ending June 30, compared to a profit of $3.8 million a year ago, it said last week. Profit after tax slid to $1.5 million from $8.3 million a year before. Revenue fell
The government of Wallonia, Belgium, has provided iTraceiT with a grant worth EUR 250,000 (around $273,000) that will enable it to expand its diamond traceability solution to the Indian and US markets. The Antwerp-based technology and service provider is also set to receive additional money later in the year from the government’s investment fund, W.IN.G (Wallonia Innovation and Growth), it said last week. With the initial cash, iTraceiT will beef up its advertising and sales programs to
