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- A Stuijt
- Retired South African medical journalist, ex-Sunday Times of Johannesburg.
Join Adriana Stuijt at Digital Journal!
12:51 | 
Posted by
A Stuijt |
J
an 15 2009 -- I have over the past two months, also published the following South African news stories, writing as a citizen-journalist on the Canadian-based international news website http://www.digitaljournal.com . I would appreciate all the readers of Censorbugbear-reports.blogspot.com and Crime Busters of South Africa to also sign up for my daily postings at this hard-news site – and to vote for them if you liked them:
Jan 15 2009: SA whites increasing targets of hate-crimes:
Gang rape: a youth cult in SA townships:
http://www.digitaljournal.com/article/264956
Half of SA's young have AIDS from rape:
http://www.digitaljournal.com/article/264771
Cholera spreads to four SA provinces:
http://www.digitaljournal.com/article/264611
SA's horrific rage-blogs often tell the truth:
http://www.digitaljournal.com/article/264318
Ten Commandments planted along SA roadsides:
http://www.digitaljournal.com/article/264139
Bring earplugs, WC2010 visitors warned:
http://www.digitaljournal.com/article/264038
SA poet Breytenbach calls Mandela "Moneydeala"
http://www.digitaljournal.com/article/263966
3,025 SA farmers murdered since 1994
http://www.digitaljournal.com/article/263898
SA cannot protect its nuclear stockpile:
http://www.digitaljournal.com/article/263843
One SA woman feeds 1,000 starving Zimbabweans daily:
http://www.digitaljournal.com/article/263782
AIDS a growing security threat for African nations: US official:
http://www.digitaljournal.com/article/263778
Canadian uranium search will kill off the last Bushmen of Africa
http://www.digitaljournal.com/article/263726
Baby from Cape Town's worst squatter camp treated for cholera:
http://www.digitaljournal.com/article/263701
Afrikaners warn: ANC destroys SA with their greed, malice:
http://www.digitaljournal.com/article/263651
Bosnian journo: "SA supports oppression, torture abroad':
http://www.digitaljournal.com/article/263513
Water pollution: SA's ticking cholera time-bomb:
http://www.digitaljournal.com/article/263485
Breastfeeding mom shot dead execution-style in SA
http://www.digitaljournal.com/article/263460
Pirates target wealthier Cape families in speed boats
http://www.digitaljournal.com/article/263446
SA declares cholera emergency:
http://www.digitaljournal.com/article/263347
SA exiles march in London for their voting rights:
http://www.digitaljournal.com/article/263209
SA scraps new nuclear power station plans thank God:
http://www.digitaljournal.com/article/263209
Cruel African regimes should not be treated with kid gloves:
http://www.digitaljournal.com/article/263137
Think you can play the guitar? Try doing it with a spoon:
http://www.digitaljournal.com/article/263133
SA activists plan massive protests at WC2010
http://www.digitaljournal.com/article/263085
SA must declare state of emergency over dangerous water pollution
http://www.digitaljournal.com/article/263078
10m S.Africans threated by dangerously polluted river
http://www.digitaljournal.com/article/262909
SA faces collapse from filthy waterways, scientist warns:
http://www.digitaljournal.com/article/262639
It is warfare out there, say besieged Afrikaners of Pretoria
http://www.digitaljournal.com/article/263078
S.African mom takes 5 bullets, saves her child
http://www.digitaljournal.com/article/262909
Young whites emigrate, young blacks die of TB-AIDS in SA
http://www.digitaljournal.com/article/262718
Robber saved by biggest Bolt-hole in the world
http://www.digitaljournal.com/article/262639
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1,200 jobs lost in SA diamond industry amidst growing gloom
Amidst growing gloom about poor diamond sales – due mainly to the economic malaise in the US, which is the largest purchasers of gem diamonds -- Solidarity trade union, which represents miners in South Africa, says about 1,200 workers already face job losses at five diamond companies this month, although the diamond prices have not dropped as yet.
Sandstraat Eksplorasie, Diamond Core Mining Exploration, Rockwell Diamonds, Namakwa Diamonds and Petra Diamonds have all laid off the majority of their workforce. The trade union says the companies blame these layoffs ‘on the rapid drop in the diamond price since October last year,’ however, the trade union notes that the diamond prices aren’t as low as being claimed, and certainly do not justify these layoffs.
"The present diamond price compares well with those of the first half of 2008.October showed good diamond prices and these cannot be used as a guideline,’ said their spokesman.
Sandstraat Exploration plans to lay off 78 people, that's two-third of all its personnel - and they blame this on the 'drastic drop in the price of diamonds by 50 to 70%, and also hold out other reasons such as the high cost of electricity and fuel, the trade union spokesman noted.
Diamond Core Mining Explorations is laying off 59 of its workers, and the international diamond company Rockwell Diamonds plans firing 55% of its workforce of 640 people.
http://www.solidaritysa.co.za/Tuis/wmview.php?ArtID=2101
Top financial expert Des Kilalea at RBC Capital Markets warns today that due to the US recession, the projected diamond prices for 2009 are "very poor". Analysts say the price of diamonds could drop by as much as 30% and may not recover until 2010.
Vote for my report: http://www.digitaljournal.com/article/265206
original video on youtube.com/watch?v=wEY809nEYnU
In 2007, total diamond production worldwide was 160m carats with an estimated value of $14bn. SA contributes 12% of overall production by value. He refers to the diamond-jewellery market.
He said alluvial diamond-miners, who produce some of the highest-quality diamonds sifted from rivers, also face weak prices due to lower demand in the US, which accounts for half of the entire diamond market in the world, but it's far less certain whether their prices will drop as much as predicted:"Quality diamonds are only used in jewellery, which is still a market driven by consumers."
Kilalea says that diamond cutters are building up debts at the moment because there are no credit options available to them. This makes them reluctant to buy additional stock. On the uncut diamond supply side, miners have built up a surplus and are now cutting back on production: the Toronto and Johannesburg-listed diamond junior, BRC DiamondCore,is the latest mining company to announce it would scale back production.
- "I expect DiamondCore to close down its SA operations completely this year and focus on its prospects on the DRC," says Kilalea.
Rockwell Diamonds is extending its year-end shutdown by another month but while restarting its other operations next month, probably will keep its unprofitable Wouterspan diamond mine closed.
"De Beers is going to be hurt the most, since it mines the most diamonds," says Kilalea.
Alluvial diamond-miners, so-called 'juniors' who sift diamonds from rivers, are more difficult to predict, he said.
"The juniors who are producing diamonds at the moment, such as Rockwell, Namakwa Diamonds and Petra Diamonds, are likely to survive the year.
"The ones that are still developing and exploring are just consuming cash without making any money."
He believes the juniors will very likely start merging with other mining operations in the year ahead.
Although alluvial juniors mine some of the highest-quality diamonds, prices will be weak due to low demand, says Kilalea.
Congo diamonds:
However Bill Champion, MD of Rio Tinto Diamonds, which is earning a 60% stake in BRC DiamondCore's Congo operation, was positive about the long-term of diamond prices."Long-term diamond industry fundamentals suggest that the aggregate level of diamond demand will exceed supply, resulting in sustained price growth over the next decade,' he was quoted as telling the Financial Times of Johannesburg in South Africa.