Stern Hu, the chief representative of Rio Tinto in Shanghai, China, has been detained on criminal charges of gathering and stealing state secrets by Chinese national security authorities, says China’s Foreign Ministry Spokesperson Qin Gang. Qin Gang says that an investigation into the case is underway. “The competent authorities of China took actions in accordance [...]
Report: Value of Diamond Deals Down 73%
Metals Economics Group’s (MEG) recent Strategic Report points to a 73% decline in total acquisitions spending on diamonds—$210.5 million in 2008-09 compared with $760.2 million in 2007-08. A total of 19.7 million carats in resources changed hands in 2008-09, a 91% decrease from 208.4 million carats in 2007-08. Diamond transactions of at least $1 million [...]
North Australian Diamonds Takes Share of US$600,000 Award Program
North Australian Diamonds is one of a number of companies to take a share of some US$600,000 awarded to drilling programs in Australia’s Northern Territory. According to Kon Vatskalis, the Territory’s Minister for Resources, the program forms part of the government’s four year Bringing Forward Discovery initiative. “Mineral and exploration are key economic drivers for [...]
Diamond Exchange Ltd Launches Unique Fraud-Proof System for Diamond Certificates
Diamond Exchange Ltd the Australian online diamond retailer has launched a fraud-proof system for diamond certification. Diamond Exchange Ltd, the Australian online retailer of diamonds, has launched a fraud-proof system for diamond certification. The system makes it virtually impossible to fraudulently alter diamond certificates. The acquisition of this technology arose out of the importance for [...]