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Crossworks Secures Capital for Expansion
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First West Capital will fund a multi-million dollar expansion deal for Canada-based diamond manufacturer Crossworks Manufacturing. The funding will be used to expand Crossworks' cutting, polishing and manufacturing operations in order to accommodate growth from...
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Rough Markets
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May 03, 2012
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Deena Taylor
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Mining
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Jul 01, 2010
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Rapaport
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Charm Diamond Centres to Offer Ontario Diamonds
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Charm Diamond Centres in Nova Scotia received the right to carry diamonds mined, cut and polished in Ontario, Canada. The company's diamonds are mined at the De Beers Victor mine and then cut and polished by Crossworks Manufacturing in Sudbury. The finished stones will be sold at select Charm...
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Retail
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Jun 29, 2010
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Jeff Miller
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Diamond News Broadcast
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Zale's revenue dropped by single digits for third fiscal quarter and it continued to operate at a loss. U.S. chain-store sales this past week certainly turned softer than they've been, and year to year comparisons will be getting tighter from this point forward. The Conference Board found...
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Manufacturing
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May 26, 2010
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Rapaport News
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Research
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May 06, 2010
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Rapaport
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De Beers Canada Spends $292M With Local Suppliers
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De Beers Canada reported that it spent $292 million on goods and services for the Snap Lake and Victor mines in 2009. The company spent $152 million on operations contracts at Snap Lake, 74 percent of which was supplied by northern businesses and 51 percent of which was provided by aboriginal suppliers....
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Mining
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May 03, 2010
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Avi Krawitz
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Mining
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Apr 29, 2010
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Rapaport
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Crossworks Schedules Polished Tender in Toronto
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Crossworks Manufacturing Ltd. plans to hold its first polished diamond tender for stones that originated from the De Beers Canada Victor mine in Ontario. The tender, which runs May 3-5, 2010, is by invitation only and the event will be held at the Diamond Bourse of Canada in Toronto....
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Polished Markets
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Apr 23, 2010
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Jeff Miller
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Mining
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Apr 22, 2010
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Rapaport
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Diamond News Broadcast
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View the major U.S. retail sales predictions for Christmas season side-by-side in this broadcast. Remember though, even in a down economy, news is not all bad. Consumers are expected to spend more than $440 billion, which is a healthy amount under any circumstance. Crossworks Manufacturing opened a new diamond...
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Mining
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Oct 14, 2009
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Rapaport News
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De Beers May Need More Loans
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De Beers May Need More LoansChristopher LaFemina, an analyst at Barclays Capital, wrote a note concerning the drag that De Beers may exert on parent company Anglo American. He stated that Barclays is concerned that more shareholder loans may be necessary to keep De Beers afloat, adding that Barclays believes diamond...
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Mining
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May 01, 2009
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Rapaport
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Rapaport TradeWire - Friday, April 10, 2009
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Rapaport TradeWire - Friday, April 10, 2009News: DTC March sight estimated at $200 mil. with pickup in demand and prices for rough diamonds. De Beers cuts DRC exploration and significantly reduces London staff. ALROSA to sell $500 mil. in rough to 15 Antwerp firms in '09. S&P suspends credit...
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Mining
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Apr 10, 2009
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Rapaport
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SunDiamond to Open Ontario Diamond Cutting Facility
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HRA-SunDiamond is setting up the first diamond cutting and polishing facility in Ontario, Canada, according to the province’s ministry of northern development and mines. The ministry said the factory, operated by SunDiamond's subsidiary Crossworks Manufacturing, will be completed later this year and will employ about 50 people. Crossworks...
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Mining
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Apr 07, 2009
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Avi Krawitz
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Rapaport TradeWire - Friday, March 27, 2009
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Rapaport TradeWire - Friday, March 27, 2009 News: Prices stabilizing as market conditions improve for small to medium sizes up to 3 cts. Large stone liquidity remains problematic with some improvement in trading activity as sellers accept new price realities. Rough tenders bringing higher prices which may not...
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Mining
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Mar 27, 2009
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Rapaport
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Two Diamonds from the Victor Mine Adorn Legislative Mace
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Two diamonds from De Beers Canada's Victor Mine were installed in the legislative mace, which was presented to parliament in Ontario. One of the diamonds is cut and polished and the other is rough, according to De Beers. The setting was designed by Reena Ahluwalia, De Beers jewelry award winner. Jim Gowans,...
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Mining
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Mar 24, 2009
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Jeff Miller
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De Beers Posts Solid First Half Results
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De Beers issued the following press release on its website ( www.debeersgroup.com ) on Wednesday, presenting its interim results for the half year to 30 June 2008. All amounts presented were in US Dollar millions. Half year Half year % Change 30 June 2008 30 June 2007 Total Sales 3,740 3,402 +10% Underlying Earnings 350 324 +8% EBITDA 831...
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Mining
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Jul 23, 2008
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Press Release
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De Beers Sales +10%, Net Earnings -10%, Production -4%
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De Beers reported Wednesday that first half sales rose 10 percent to $3.7 billion, spurred by some rough price increases implemented by its sales unit, the Diamond Trading Company (DTC.) DTC sales rose 10 percent to $3.288 billion. The world’s largest diamond mining company said demand from...
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Mining
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Jul 23, 2008
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Avi Krawitz
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DTC Prepares Sightholders for Opportunity with Canada Sight
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The Diamond Trading Company (DTC) this week presented sightholders with an opportunity to receive goods from a separate Ontario, Canada sight once production from the Victor Mine comes available for polishing in the province. DTC presented the plan during the sight in London this week. Any of its 79 sightholders can...
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Mining
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Jul 09, 2008
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Avi Krawitz
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Ontario Gov’t Chooses Local Firm to Value De Beers Canada Diamonds
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The Ontario government has selected Diamonds International Canada (DICAN) Limited to assess the value of diamonds produced at De Beers Canada’s new Victor Mine. DICAN will also provide the government with advice on valuation and auditing of diamond production, the Ministry of Northern Development Mines said in a statement....
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Mining
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May 27, 2008
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Avi Krawitz
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De Beers Takes $965M Hit in Canada, Reports $521M Loss in '07
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De Beers net earnings fell into the red from a profit of $730 million in 2006 to a loss of $521 million in 2007 in part because the company was forced to make a $965 million adjustment on fixed assets against Canada's robust currency. The cost included additional increases from long-term fuel costs, labor,...
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Mining
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Feb 08, 2008
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Jeff Miller, Avi Krawitz
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