Diamond News Archives

Not only are the precious metals prices looking better than they have for several years, but the reasons to own them continue to improve as central banks begin to crank up their massive CREDIT CARD DEBT. In just the past month, the U.S. Treasury has increased the outstanding public debt by a whopping $450 billion.

Of course, they are making up for some lost time as they were unable to increase the debt until the Whitehouse, Senate, and Congress passed a bipartisan deal for a two-year postponement of the debt-ceiling on July 22nd.  Thus, the new agreement has kept the U.S. Government from shutting down or defaulting on its debt.

Well, it didn’t take much time after the ink was dry on the new bi-partisan deal that the U.S. Treasury announced plans to issue $814 billion^[1] of new debt between July and December.  And, as we can see, $450 billion was already issued in August:

Without this $450 billion in new debt, the entire U.S. Government and economy would have begun to shut down and collapse.  Furthermore, the U.S. Treasury is finding decent demand for this new debt because an increasing amount of Foreign Treasuries and Bonds have a negative interest rate.  So, investors around the world would rather buy U.S. Treasuries and Bonds at a small positive rate than lose money, holding their bonds at negative rates.  Of course, this cozy situation won’t last as the Fed will likely be forced to lower rates back to zero and then into negative territory when the U.S. economy rolls over into a recession.

However, here’s an important question.  How much does $814 billion of new U.S. Treasury debt look like if we compare it to the value of global...

Quoting an official source, the Xinhua news agency reported that Angola started will be running its first roadshow for the acquisition of rights for prospection and exploitation of diamond, iron and phosphate in the country, in which countries and regions including Brazil and South Africa are taking part in the maiden event taking place in Luanda. Reportedly, the Angolan government decided roadshows to be a good model and showcase for the projects it intends to advertise internationally and to lure interest of investors.

The roadshow will run from August 27 to September 20 in Luanda, Dubai, Beijing and London, with an aim to entice interest of investors. Angola's Ministry of Mineral Resources and Petroleum, said five mining concessions are expected to be tendered, namely of diamond in eastern Lunda Norte and north-eastern Lunda Sul, of iron in northern Cuanza Norte and of phosphate located i northern Cabinda and Zaire provinces.The final stop on the roadshow will be in London.

It also said it will further hold an international tender to analyze and select better bids. The Ministry of Mineral Resources and Petroleum is seeking to close the process this year by launching the international tender on September 30 and October 2 of 2019, the source was quoted....

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The Diamond Development Initiative announced the appointment of Ian Rowe as its new Executive Director, with effect from September 2, 2019. His appointment follows the departure of Dorothee Gizenga, DDI's founding Executive Director, who will now take on a new role as Regional Director to lead DDI's expansion in Africa. She'll be based in her home country, in Kinshasa, DRC.

DDI's Deputy Executive Director since September 2018, Ian Rowe brings two decades of experience in Africa, Latin America and the Caribbean where he has worked with civil society organizations and United Nations agencies in the areas of development, socio-economic recovery and conflict prevention. He has held senior UN management positions in the Democratic Republic of Congo and Haiti and has worked in a variety of staff and consulting positions in Kenya, Somalia, Burundi and Bolivia. In 2008 he served on a UN Panel of Experts on the Sudan, investigating violations of the arms embargo on Darfur. Prior to joining DDI, he served as Director of the Disarmament, Demobilization, Repatriation, reintegration and Resettlement Division within the UN Stabilisation Mission in Congo (MONUSCO). Based out of Goma he held responsibility for managing 14 regional offices in support of the government-led disarmament, demobilisation and reintegration process.

As Deputy Executive Director of DDI, he has managed the DDI's field operations in Sierra Leone and has led a six-month strategic planning process to position DDI for a future in which artisanal mining is expected to become a much more prominent development challenge.

"Artisanal miners are at the wellhead of the diamond pipeline," says Ian Rowe. "Bringing them into the formal diamond economy benefits them, their communities and the industry as a whole. Scaling up what...