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Brand And Industry News: De Beers Closes Another Mine; Lisa Nik Launches Spring Campaign; More December 23, 2015 (0 comments)
De Beers To Close Yet Another Diamond Mine
Orapa, Botswana—Debswana, the 50/50 joint venture between De Beers and the Government of Botswana, is closing one mine—Damtshaa—and scaling down production at the Orapa No.1 mine for the next three years as it battles a continued downturn in the global diamond market, local paper Southern Times reports.
Debswana had forecast production of 22 million carats for 2015, but in September the company revised the figure down to 21 million, according to a report on Mining.com.
The news comes on the heels of De Beers sale of its Kimberley Mines in South Africa and its decision to close Snap Lake in Canada, along with the news that its parent company, Anglo-American, will shed 85,000 jobs across the board.
Although diamonds are one of three categories that Anglo-American will focus on after shedding its coal and copper mines, the cutbacks and closure will leave about 1,000 workers jobless in a country where diamonds make up more than 70% of its total exports, and nearly 25% of its gross domestic product.
Botswana was, until last year, the world’s leading producer of diamonds. But Russia has surpassed it as top producer, while Botswana’s diamond mines are becoming bigger and deeper and costs to operate them are rising. At the same time, declining diamond prices makes it challenging for miners to remain competitive.
The country—often cited as a model for African development—also is grappling with power and water shortages. Besides diamonds, Botswana also produces nickel, copper, coal, iron ore, and beef.
De Beers, meanwhile, expects its diamond production to fall from 29 million carats in 2015 to between 26 and 28 million in 2016. According to an article in The Namibian, CEO Philippe Mellier maintains the decline in rough and polished diamond prices stems from too much inventory, not too little demand.
“The midstream has to generate profit,” he told Anglo-American analysts in a meeting earlier this month.
Lisa Nik Launches Spring Campaign
New York, NY—Lisa Nik introduces its spring campaign, "Beauty and the Rocks." The images contain mixed media photography and promote the Rocks and Twisted Wires collections for Spring 2016. For more information regarding this campaign, please contact info@lisanik.com.
Two of the four images in Lisa Nik's spring campaign, which blends the designer's jewelry with female beauty rituals.
GIA Donates Toys, Clothing, Cosmetics, and Money to Two San Diego Charities
Carlsbad, CA—GIA (Gemological Institute of America) staff and students are helping brighten the holiday season for San Diegans in need, donating hundreds of toys, clothing, cosmetics and nearly $1,000 to two local charities as part of its annual Holiday Gift Drive. The Institute collected nearly 1,000 items for Dress for Success San Diego, a nonprofit that provides a network of support, professional attire, and development tools to help women achieve economic independence and thrive in work and in life; and nearly 250 items for It’s All About the Kids, a nonprofit foundation that supports local children’s charities.
Among the nearly 1,000 items donated to Dress for Success San Diego were professional attire, accessories, and cosmetics. "We were honored to be chosen as one of the beneficiaries of GIA’s annual Holiday Gift Drive. These donations will brighten the holiday season and provide a confidence boost to our clients as they enter the workforce,” said Sylvia Evans-McKinney, founder and executive director of Dress for Success San Diego.
Among the nearly 250 items donated to It’s All About the Kids Foundation were playpens, learning toys and puzzles, stuffed animals and athletic gear. “Thank you to the wonderful women and men of GIA for their amazing generosity. With their help, we are able to surpass our goal of making the holidays bright for over 1,600 children this year,” said Angela Brannon-Baptiste, co-founder and president of the Board for It’s All About the Kids Foundation.
GIA’s New York campus is getting into the spirit of the season as well, working with Toys for Tots, a nonprofit program organized by the U.S. Marine Corps Reserve, which collects and distributes toys to children whose parents are unable to afford them. They are also conducting a coat drive for New York Cares, the city’s largest volunteer management organization that runs programs for 1,300 nonprofits, city agencies and public schools.
L to R: Stephen Morisseau, GIA’s director of corporate communications; Veronika Janis, GIA’s senior coordinator of corporate events and meetings; Angela Brannon-Baptiste, co-founder and president of the Board for It’s All About the Kids Foundation; Sylvia Evans-McKinney, founder and executive director of Dress for Success San Diego; and Susan Schindelar, GIA’s vice president of global marketing. Photo by Emily Lane; © GIA
Philadelphia Man Robbed Of $350K In Diamonds
Philadelphia, PA--It was an unhappy holiday for the owner of nearly $350,000 worth of diamonds that were stolen Tuesday evening. According to a report on Philly.com, two suspects took a shoulder bag containing the diamonds. The incident occurred in the 1100 block of Sansom Street, a few blocks west of the city's Jewelers Row district.