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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (14955)	7/29/2003 6:39:43 AM
From: jrhana	Respond to of 39344

<De Beers' fighting words: “We deplore the fact that the royalty on diamonds is 8%. The bill is punitive and discriminatory for diamond producers,” Ralfe said. The planned royalty on diamonds is twice the 4 percent rate planned for platinum, the next highest mineral royalty.> mips1.net De Beers certainly is no dummy. I recall years ago how it was moving as much as possible of its corporate structure out of South Africa: <The De Beers Group has been involved in all aspects of the diamond industry since its formation in 1888. Today, the De Beers Group is the largest diamond mining company in the world, producing over 40 per cent of the world's gem diamonds by value from its own mines in South Africa and, in partnership with government, in Botswana, Namibia and Tanzania. De Beers' gem mining operations span every category of diamond mining - open pit, underground, alluvial, coastal and under sea - while its exploration programme extends across six continents. In 2000, De Beers' Snap Lake project in Canada's Northwest Territories will become the Group's first Canadian diamond mine. The De Beers Group's Diamond Trading Company (DTC), based in London, sorts, values and currently sells about two thirds of the world's annual supply of rough diamonds. Over the last 60 years, De Beers has also undertaken the advertising and promotion of diamond jewellery around the world. This has brought benefits to diamond producers, manufacturers, retail jewellers and, ultimately, the consumer. On 16 January 2001, the De Beers Group and LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group, announced an agreement to establish an independently managed and operated company (De Beers LV) to develop the global consumer brand potential of the De Beers name. History was made in the early part of 2001 when De Beers was acquired by DB Investments (DBI). De Beers officially delisted from the JSE Securities Exchange, South Africa and the London Stock Exchange on Friday, 1 June 2001.> debeersgroup.com