SPIRRO LOUVERDUS SENTENCED TO A FINE OF R1.5 MILLION

NORTHERN CAPE – Spirro Louverdus (48) pleaded guilty before Kimberley Magistrate court on Tuesday, 13 April 2021 and was sentenced to five years imprisonment wholly suspended for five years and a further fine of R1.5 million. This follows a project driven investigation by the Directorate…

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AngloGold Ashanti to Restructure South African Operations to Ensure Their Viability

AngloGold Ashanti has made the difficult decision to begin a consultation process with employees in terms of section 189 and 189A of the Labour Relations Act, with respect to restructuring certain of its South African business units. This follows a review of the options to…

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AngloGold Ashanti Says Third-Quarter Free Cash Flow Soars to $161m

AngloGold Ashanti announced a significant jump in third-quarter free cash flow to $161m, further improving its net debt position despite a decline in ore grades at some of its operations and a challenging operating environment for its South African business. Free cash flow was $161m,…

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Trump Victory Improves Outlook for Diamonds and Jewelry

Trump's election victory coupled with Republican control of Congress is expected to set the stage for improved economic conditions that will support increased demand for diamonds and jewelry. Lower taxes, higher domestic employment and the end of Obamacare will increase disposal income and encourage investment…

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Diamond Prices Mixed in Slow August Trading

One-carat diamond prices remain under pressure with low trading volume during the August vacation period. Polished inventory is increasing with steady manufacturing and sluggish demand as dealers prepare for the fourth-quarter holiday season. Some improvement in under-the-carat goods as Chinese bridal demand stabilizes. The RapNet…

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