De Beers wins 60% of S. African mine from SouthernEra

Article Abstract:

De Beers Consolidated Mines Ltd. secured 60% of interest in the Marsfontein diamond project in South Africa in spite guarantees from SouthernEra Resources Ltd. that its joint venture held rights to it. Toronto, Canada-based SouthernEra and joint venture partner Randgold & Exploration Co. Ltd. will get a 40% interest in the farm under a settlement with the world's biggest diamond miner. Randgold & Exploration is a gold mining firm of South Africa. Yorkton Securities Ltd. Mining Specialist John Hainey believes that the development leads to questions about the safety of land tenure in South Africa.

Comment:

Secured 60% interest in the South African Marsfontein diamond project in spite opposing guarantees from SouthernEra Resources

Natural resources, Article

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De Beers' ban on 'blood diamonds' decried

Article Abstract:

South Africa's De Beers Consolidated Mines Ltd. has been criticized by the Sierra Leone's United Mineworkers Union for the company's new ploicy against buying diamonds from war-torn countries. De Beers, which has also targeted Liberia, is aimed at halting buying from rebel-controlled areas.

Strategy & planning, Labor force information, Miscellaneous nonmetallic minerals, Labor organizations, Labor Unions, Labor Unions and Similar Labor Organizations, Management, Mining industry, International aspects, United Mineworkers Union

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