Business

Interim figures for De Beers rough diamond sales for cycle four of 2018 showed an increase of US$550 million (N$7 billion). The figures are from Global sightholder sales and auction sales show that the sales value for the third cycle of 2018 stood at US$524 million (N$6,62 billion), slightly lower …

Signet Jewelers, the world’s largest retailer of diamond jewellery, will become the first retailer to join its pilot programme TracrTM, the end-to-end diamond blockchain being developed by De Beers Group in collaboration with the diamond industry. The company joins the growing list of industry leaders trialing the platform during its …

Namibia Rare Earths Inc has changed its company name to Namibia Critical Metals Inc. The company’s board believes the the new name more accurately reflects the recently expanded commodity base from solely rare earths to include a variety of highly critical commodities including cobalt, copper, vanadium, zinc, lithium, graphite, tantalum, niobium, …

De Beers Group’s diamond brand Forevermark has launched Libert’aimeTM , a new flagship store at HKRI Taikoo Hui in Shanghai, China. The opening marks the 1,000th Forevermark store in China, and comes as the brand celebrates its 10-year anniversary in the country. Created to celebrate the spirit of a new generation …

Rio Tinto has been granted accreditation by Australia’s Office of the National Rail Safety Regulator approving the autonomous operation of trains at the group’s iron ore business in Western Australia. The AutoHaul® project continues to progress and is on schedule to be completed by the end of 2018. Rio Tinto …

International diamond miner De Beers has reported that Global consumer demand for diamond jewellery hit a new all-time high in 2017, climbing to US$82 billion, a two percent increase on the previous year. According to industry insight data published from De Beers Group the US was the main driver of …

The lawyer representing the fishing organisations that are suing to stop seabed phosphate mining said he is optimistic that they will win their court case. Lawyer Sisa Namandje made these remarks to The Namibian yesterday when asked about his reaction to a recent court judgement which concluded that the decision …

Australian company Celsius Resources focused on the evaluation of the Opuwo Cobalt Project has completed a bookbuild for the issue of approximately 48.6 million shares to raise AUD$ 9 million, at an issue price of 18.5 cents per share. According to the announcement the funds raised by the placement will …

Nearly 17 000 people were employed by the mining sector in 2017, Chamber of Mines of Namibia chief executive officer Veston Malango said on Wednesday. He was speaking at the 2018 mining expo where he said of the 16 905 people employed in the sector, 9 643 were permanently employed, …

NEDBANK Namibia expressed willingness to finance the mining and resources sector, during the Namibian mining expo held in Windhoek recently. The corporate and investment banking mining and resources finance team shared insight on how the Namibian mining sector can position itself in the global context of direct foreign investments and …