Gem

Namibian Police Hunting for 78-carat Diamond Lost in Strike

Gem Investing

Bloomberg reported that police in Namibia are on the hunt for a 78-carat diamond that went missing during a recent strike.

Bloomberg reported that police in Namibia are on the hunt for a 78-carat diamond that went missing during a recent strike. The theft was reported by Namibia Diamond Trading Co., a joint venture between Namibia and Anglo American plc’s (LSE:AAL) De Beers unit.

As quoted in the market news:

While the value of the stone will depend on the quality and size of the polished stones that can be cut from it, a 78-carat diamond mined by BHP Billiton Ltd. (BHP) in Canada sold for $6 million in 2011. The largest diamond produced this century was the 603-carat Lesotho Promise, unearthed at Gem Diamonds Ltd. (GEMD)’s Letseng mine in Lesotho.

The news outlet also states:

More than 1,500 Mineworkers Union of Namibia members went on strike on Aug. 2 after rejecting the government’s offer of a 10 percent wage increase.

‘We are not commenting on this issue as it will interfere with investigations,’ Namdeb spokeswoman Pauline Thomas said.

Click here to read the full Bloomberg report.

MARKETS

Markets
TSX19506.65+156.99
TSXV572.22+4.96
DOW33203.93+176.44
S&P 5003844.82+22.43
NASD10497.86+21.74
ASX7107.70-44.80

COMMODITIES

Commodities
Gold1807.31+0.90
Silver23.74+0.01
Copper3.81+0.06
Palladium1756.51+0.51
Platinum1025.50+2.50
Oil79.35+1.86
Heating Oil3.21+0.12
Natural Gas5.13+0.13

DOWNLOAD FREE REPORTS

×