Diamond foes now friends: Rio Tinto is providing vendor finance to a small diamond miner that it was fighting in the courts a year ago

Article Abstract:

Mixed views are being expressed about why Rio Tinto has started to act very positively towards its smaller rival Kimberley Diamond Co. The two firms were previously engaged in a legal battle, but Rio Tinto is now operating as Kimberley Diamond's banker and will supply vendor financing.

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A golden opportunity for Rio Tinto to quit PNG

Article Abstract:

Rio Tinto may be looking to sell its stake in Lihir Gold and exit Papua New Guinea. Although Lihir has increased its resource base to 41.1 million ounces of gold, the mine needs to increase production to make a profit. A substantial investment would be required from Rio Tinto to raise production capacity.

Acquisitions & mergers, Production management, Mining & Extractive Industries, Mining, All Other Metal Ore Mining, Papua New Guinea, Ferroalloy ores, except vanadium, Ferroalloy Ores, Chemical and Fertilizer Minerals, Chemical & Fertilizer Minerals, Other Nonmetallic Mineral Mining and Quarrying, Mergers, acquisitions and divestments, Company acquisition/merger, Mining industry, Gold industry, Nonmetal mining, Ores, Fertilizers, Mineral industry, Ferroalloys, Lihir Gold Ltd.

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Ready to sparkle

Article Abstract:

Kimberley Diamond and Namakwa Diamond are the two stocks that are trying their best to rise above the losses that was because of Ashton Mining who was a part-owner of Argyle mine in 2003. The Namakwa's price sagged from 28 cents to 9 cents and Kimberley's has fallen from 69 cents to 33.5 cents for the period from May 2002 to May 2003.

Commodity & service prices, Management dynamics, Gem Diamonds, All Other Nonmetallic Mineral Mining, Miscellaneous nonmetallic minerals, Jewelers' materials & lapidary work, Prices and rates, Company business management, Diamonds, Company pricing policy, Diamond crystals, Namakwa Diamond

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