DOCSLIB.ORG

De Beers and Beyond: the History of the International Diamond Cartel∗

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
De Beers and Beyond: the History of the International Diamond Cartel∗ De Beers and Beyond: The History of the International Diamond Cartel∗ Diamonds are forever hold of them. The idea of making diamonds available to the general public seemed un- A gemstone is the ultimate luxury thinkable. When diamonds were first found product. It has no material use. Men in South Africa in 1867, however, supply in- and women desire to have diamonds creased rapidly, although the notion of dia- not for what they [diamonds] can do monds as a precious and rare commodity re- but for what they desire.1 mained to the present day. Similar to the gold miners in California, dia- To hear these words from a person who at- mond miners in South Africa tended to rush to tributes his entire wealth and power to the the latest findings.2 As a matter of principle, trade of diamonds illustrates the peculiar na- diamond miners preferred to work by them- ture of the diamond market: Jewelry dia- selves. However, the scarcity of resourceful monds are unjustifiably expensive, given they land and the need for a minimum of common are not actually scarce and would fetch a price infrastructure forced them to live together in of $2 to $30 if put to industrial use. Still, limited areas. In order to fight off latecom- by appealing to the customers’ sentiment, di- ers and to settle disputes, Diggers Committees amonds are one of the most precious lux- were formed and gave out claims in a region. ury items and enjoy almost global acceptance. Each digger would be allocated one claim, or, This fact is often attributed to the history at most, two. of one company. DeBeers, founded by Cecil Since digging diamonds on a larger scale Rhodes in 1870, has been a highly successful was virtually impossible for individuals, small and effective controller of the diamond mar- claimholders soon merged into larger ones. ket, having developed a unique purchasing and Moreover, equipment for digging, hauling the marketing cartel that has influenced prices in dirt up and pumping water out of the mines the market virtually undisturbed for almost a was purchased or rented by groups of min- century. Lately, however, there are signs that ers, thereby forced to cooperate even more more and more players seem ready to challenge intensively.3 Cecil Rhodes was one of the DeBeers’ dominance, and ever since, DeBeers first businessmen to rent out pumping equip- has struggled to keep the cartel intact. ment and soon realized that he had tapped a vast market potential. He reinvested the ini- tial proceeds from equipment rental in acquir- Diamonds and the Cartel ing claims. By 1880, he held a large enough share of diamond claims to justify a separate For centuries, the only two countries produc- company purely concerned with managing the ing diamonds were India and Brazil. Up to mines: thus DeBeers Mining Company was the middle of the 19th century, the world created. By 1887, the company was the sole supply of diamonds was so scarce that even owner of South African diamond mines. monarchs and noblemen found it hard to get Concurrently, Cecil Rhodes took control of ∗This case was written by Tobias Kretschmer un- the distribution channels through “The Di- der the supervision of Professor Lu´ısCabral. Finan- amond Syndicate,” an alliance of merchants cial Support by the Material or Research Fund from London Business School is gratefully acknowledged. 2In fact, most of the early diamond miners used c 1998, London Business School. to be gold diggers, attracted by the enormous riches 1Nicky Oppenheimer, DeBeers deputy chairman, at surrounding diamonds. a Foreign Correspondents Association Lunch. (Source: 3The diamonds were located in increasingly lower Reuters.) soils that contained underground water. 1 in Kimberley who abided to Rhodes’ terms (which represented about one half of total sup- of business, recognizing that their own inter- ply). Each year, DeBeers determines the to- ests and DeBeers were compatible in that both tal amount of diamonds it plans to sell in aimed for high prices and a notion of scarcity. the market. Each producer is guaranteed a In the following three decades, a German fixed percentage of total output, that is, De- immigrant named Ernest Oppenheimer estab- Beers commits to buy that amount and market lished himself as a prominent figure in the it through the CSO. Producers, in turn, are South African diamond and gold industry. Af- charged a handling and marketing fee, rang- ter some time as a diamond expert, he en- ing between 10 and 20 per cent, depending on tered the gold business by creating the Anglo- the amount purchased and the general demand American Corporation of South Africa, own- situation. ing a dominant share of South Africa’s gold mines. His greatest ambition, however, was The Central Selling Organization serves as to gain a place on the board of DeBeers, the a clearinghouse for the entire industry. It reg- company he felt would provide him with the ulates the quantity and price in the market. best opportunities to expand his knowledge Packages of diamonds are bought and sold at and power in the diamond industry. Op- sights, held ten times a year in London, on a penheimer sensed that the structure of the take-it-or-leave-it basis. As it remains a priv- syndicate would provide DeBeers with insuffi- ilege to attend sights by the CSO, few deal- cient power to control the distribution of di- ers dare to refuse a package offered to them. amonds in the long run. In particular, he The attempt to haggle over quantity and price was aware of the danger that the members of the offered package could well lead to the of the syndicate might be tempted to break sightholder not being invited again. Over 80 away in the expectation of greater quantities per cent of the world’s diamonds were traded and prices. DeBeers board members, however, through the CSO in its early days. Recent de- viewed Oppenheimer as an overambitious nou- velopments have caused a downward trend in veau riche, and blocked his way into the board this percentage; present estimates range be- for decades. Not to be discouraged, Oppen- tween 65 and 75 per cent. heimer gradually bought blocks of DeBeers shares whenever they came up for sale, un- The buyers from CSO are mainly diamond til finally he was one of the two most signifi- dealers who have the stones cut and polished cant single shareholders, the other being Solly and resell them at one of the world’s main di- Joel, his friend and business partner. At last, amond clearing centers: Antwerp, New York, Oppenheimer gained full control and owner- and Tel Aviv. ship of DeBeers in 1926. Soon after, he was named chairman. An even larger company, One of DeBeers’ main roles is to maintain the Diamond Corporation, was formed that the notion that diamonds are a scarce com- had subsidiaries dealing with producing and modity. This they do by means of advertising selling diamonds all over the world. Outside and by purchasing excess supplies when that is contracts were practically made impossible by needed to avoid price decreases: as a matter of an exclusivity requirement that each supplier principle, prices are never lowered by DeBeers. was forced to sign with the CSO. This tightly-knit organization has proven ben- Over time, new discoveries of diamond re- eficial for most in different ways: producers, serves in Australia, Siberia, and Western often state-run diamond mines in developing Africa became known and eroded the com- countries relying heavily on diamonds, are pro- pany’s monopoly position in diamond sup- vided with a stable inflow of foreign currency. ply. Harry Oppenheimer, Ernest’s son, quickly Dealers enjoy stable price increases which can realized the threat this implied and focused easily be passed on to consumers. DeBeers, his efforts on maintaining power in distribu- however, seems to be benefiting the most from tion through the Central Selling Organization the agreement, asking for what producers of- (CSO), the company’s marketing arm. ten perceive as inappropriately large fees and The structure of the DeBeers conglomer- in turn charging prices to merchants at their ate has remained widely unchanged ever since: own discretion. The temptation for both pro- A subsidiary of DeBeers buys diamonds from ducers and dealers to by-pass the CSO is there- all producers, including DeBeers’ own mines fore quite significant. 2 The cartel under threat lized. Israeli dealers disposed of their stock and conceded their price and quantity-setting Israel: Downstream Rebellion autonomy to DeBeers again. They paid a con- siderable price for their defection, however. In The huge profits in virtually every sector of the late 1970s, one in every four employees the industry finally turned out to be the major in the Israeli diamond industry lost his job. stumbling block for DeBeers in the mid-1970s. Moreover, many Israeli dealers lost their cher- In the 1970s, Israel was going through a pe- ished position in the CSO’s circle of proteges. riod of high inflation; diamonds were one of While DeBeers successfully managed to the few stable currencies and means for stor- whip the mutineers back into place, it suffered age of value; diamonds as collateral were the from the events in the late 1970s for some years best way of securing preferential loan rates. to come. Contrary to their previous policy of This induced merchants to hoard a signifi- controlled price increases and demand regula- cant amount of diamonds with a view at re- tion, DeBeers too was enticed to take advan- selling them later. As a result, the supply of tage of the bear market for diamonds.
Load more

Recommended publications
  • NEWSLETTER Wetstraat 200, Rue De La Loi Brussel B-1049 Bruxelles Tel.: (32-2) 295 76 20 Fax: (32-2) 295 54 37
    EC Editors: Address: World Wide Web: ISSN COMPETITION Bernhard Friess European Commission, http://europa.eu.int/comm/ 1025-2266 POLICY Nicola Pesaresi J-70, 00/123 competition/index_en.html NEWSLETTER Wetstraat 200, rue de la Loi Brussel B-1049 Bruxelles Tel.: (32-2) 295 76 20 Fax: (32-2) 295 54 37 competition policy 2001 Number 3 October NEWSLETTER Published three times a year by the Competition Directorate-General of the European Commission Also available online: http://europa.eu.int/comm/competition/publications/cpn/ Inside: La politique européenne de la concurrence dans les services postaux hors monopole General Electric/Honeywell — An insight into the Commission's investigation and decision B2B e-marketplaces and EC competition law: where do we stand? Ports italiens: Les meilleures histoires ont une fin BASF/Pantochim/Eurodiol: Change of direction in European merger control? Adoption by the Commission of a Methodology for analysing State aid linked to stranded costs European Competition Day in Stockholm, 11 June 2001 Main developments on: Antitrust — Merger control — State aid control Contents Articles 1 La politique européenne de la concurrence dans les services postaux hors monopole, par Jean-François PONS et Tilman LUEDER 5 General Electric/Honeywell — An Insight into the Commission's Investigation and Decision, by Dimitri GIOTAKOS, Laurent PETIT, Gaelle GARNIER and Peter DE LUYCK 14 B2B e-marketplaces and EC competition law: where do we stand?, by Joachim LÜCKING Opinions and comments 17 Ports italiens: Les meilleures histoires
    [Show full text]
  • Global Rough Diamond Production Since 1870
    GLOBAL ROUGH DIAMOND PRODUCTION SINCE 1870 A. J. A. (Bram) Janse Data for global annual rough diamond production (both carat weight and value) from 1870 to 2005 were compiled and analyzed. Production statistics over this period are given for 27 dia- mond-producing countries, 24 major diamond mines, and eight advanced projects. Historically, global production has seen numerous rises—as new mines were opened—and falls—as wars, political upheavals, and financial crises interfered with mining or drove down demand. Production from Africa (first South Africa, later joined by South-West Africa [Namibia], then West Africa and the Congo) was dominant until the middle of the 20th century. Not until the 1960s did production from non-African sources (first the Soviet Union, then Australia, and now Canada) become impor- tant. Distinctions between carat weight and value affect relative importance to a significant degree. The total global production from antiquity to 2005 is estimated to be 4.5 billion carats valued at US$300 billion, with an average value per carat of $67. For the 1870–2005 period, South Africa ranks first in value and fourth in carat weight, mainly due to its long history of production. Botswana ranks second in value and fifth in carat weight, although its history dates only from 1970. Global production for 2001–2005 is approximately 840 million carats with a total value of $55 billion, for an average value per carat of $65. For this period, USSR/Russia ranks first in weight and second in value, but Botswana is first in value and third in weight, just behind Australia.
    [Show full text]
  • Sierra Leone and Conflict Diamonds: Establshing a Legal Diamond Trade and Ending Rebel Control Over the Country's Diamond Resources
    SIERRA LEONE AND CONFLICT DIAMONDS: ESTABLSHING A LEGAL DIAMOND TRADE AND ENDING REBEL CONTROL OVER THE COUNTRY'S DIAMOND RESOURCES "Controlof resourceshas greaterweight than uniform administrativecontrol over one's entire comer of the world, especially in places such as Sierra Leone where valuable resources are concentratedand portable.' I. INTRODUCTION Sierra Leone2 is in the midst of a civil war that began in 1991, when the Revolutionary United Front (RUF) invaded the country from neighboring Liberia.3 RUF rebels immediately sought control over one of the country's richest resources--diamonds.4 Since gaining control over the most productive diamond fields, the rebels have at their fingertips an endless supply of wealth with which to fund their insurgencies against the Government of Sierra Leone.' The RUF rebels illicitly trade diamonds for arms in open smuggling operations. 6 Diamonds sold by the RUF, in order to fund the rebel group's military action in opposition to Sierra Leone's legitimate and internationally recognized government, are called "conflict diamonds."7 1. WIulIAM RENO, WARLORD POLITICS AND AFRICAN STATES 140 (1998). 2. Sierra Leone is located on the west coast of Africa north of Liberia and south of Guinea. The country has 4,900,000 residents, almost all of whom belong to one of 13 native African tribes. Country: Sierra Leone, Sept. 3,2000, availableat LEXIS, Kaleidoscope File. One of the primary economic activities in Sierra Leone is mining of its large diamond deposits that are a major source of hard currency. Countries that predominantly import goods from Sierra Leone include Belgium, the United States, and India.
    [Show full text]
  • A Brief History of Wine in South Africa Stefan K
    European Review - Fall 2014 (in press) A brief history of wine in South Africa Stefan K. Estreicher Texas Tech University, Lubbock, TX 79409-1051, USA Vitis vinifera was first planted in South Africa by the Dutchman Jan van Riebeeck in 1655. The first wine farms, in which the French Huguenots participated – were land grants given by another Dutchman, Simon Van der Stel. He also established (for himself) the Constantia estate. The Constantia wine later became one of the most celebrated wines in the world. The decline of the South African wine industry in the late 1800’s was caused by the combination of natural disasters (mildew, phylloxera) and the consequences of wars and political events in Europe. Despite the reorganization imposed by the KWV cooperative, recovery was slow because of the embargo against the Apartheid regime. Since the 1990s, a large number of new wineries – often, small family operations – have been created. South African wines are now available in many markets. Some of these wines can compete with the best in the world. Stefan K. Estreicher received his PhD in Physics from the University of Zürich. He is currently Paul Whitfield Horn Professor in the Physics Department at Texas Tech University. His biography can be found at http://jupiter.phys.ttu.edu/stefanke. One of his hobbies is the history of wine. He published ‘A Brief History of Wine in Spain’ (European Review 21 (2), 209-239, 2013) and ‘Wine, from Neolithic Times to the 21st Century’ (Algora, New York, 2006). The earliest evidence of wine on the African continent comes from Abydos in Southern Egypt.
    [Show full text]
  • Tackling Tax Evasion: Transfer Price Manipulation, Extractive Natural Resources and a Strategy for the Southern African Customs Union
    University of Denver Digital Commons @ DU Electronic Theses and Dissertations Graduate Studies 1-1-2012 Tackling Tax Evasion: Transfer Price Manipulation, Extractive Natural Resources and a Strategy for the Southern African Customs Union Patrick Grant McLennan University of Denver Follow this and additional works at: https://digitalcommons.du.edu/etd Part of the African Studies Commons, Economics Commons, International Relations Commons, and the Natural Resource Economics Commons Recommended Citation McLennan, Patrick Grant, "Tackling Tax Evasion: Transfer Price Manipulation, Extractive Natural Resources and a Strategy for the Southern African Customs Union" (2012). Electronic Theses and Dissertations. 422. https://digitalcommons.du.edu/etd/422 This Thesis is brought to you for free and open access by the Graduate Studies at Digital Commons @ DU. It has been accepted for inclusion in Electronic Theses and Dissertations by an authorized administrator of Digital Commons @ DU. For more information, please contact [email protected],[email protected]. Tackling Tax Evasion: Transfer Price Manipulation, Extractive Natural Resources and a Strategy for the Southern African Customs Union __________ A Thesis Presented to the Faculty of the Josef Korbel School of International Studies University of Denver __________ In Partial Fulfillment of the Requirements for the Degree Master of Arts __________ by Patrick G. McLennan August 2012 Advisor: Dr. Barry B. Hughes Author: Patrick G. McLennan Title: Tackling Tax Evasion: Transfer Price Manipulation, Extractive Natural Resources and a Strategy for the Southern African Customs Union Advisor: Dr. Barry B. Hughes Degree Date: August 2012 ABSTRACT An increase in the number of multinational enterprises (MNEs) has increased the attention on cross-border challenges, such as transfer price manipulation (TPM).
    [Show full text]
  • Ÿþm Icrosoft W
    UNITED NATIONS UNITED NATIONS GENERAL ASSEMBLY U'v Distr. GENERAL A/6868/Add .l ,0 October 1967 ORIGINAL: ENGLISH Twenty-second session Agenda item 24 ACTIVITIES OF FOREIGN ECONOMIC AND OTHER INTERESTS WHICH ARE IMPEDING THE IMPLEMENTATION OF THE DECLARATION ON THE GRANTING OF INDEPENDENCE TO COLONIAL COUNTRIES AND PEOPLES IN SOUTHERN RHODESIA, SOUTH WEST AFRICA AND TERRITORIES UNDER PORTUGUESE DOMINATION AND IN ALL OTHER TERRITORIES UNDER COLONIAL DOMINATION AND EFFORTS TO ELIMINATE COLONIALISM, APARTHEID ADD RACIAL DISCRIMINATION IN SOUTHERN AFRICA Report bf the Special Committ . on the Situation with regard to the Implementation of the Declaration on the Granting of Independence to Colonial Countries and Peoples Annex REPORT OF SUB-COMMITTTEE I* Rapporteur: Mr. Rafic JOUEJATI (Syria) CONTENTS Paragraphs INTRODUCTION ...... ........................ .....1 - 6 CONSIDERATION BY THE SUB-OMMITTEE ....... .............. 7 - 134 A. Statements by members ............... Page 3 7 - 80 B. Conclusions ........ .................... .81 - 132 C. Recommendations. ................ 133 D. Adoption of report ....... ................. 134 * Previously issued under the symbol A/AC.109/L.434. 67-25207 ... A/6868/Add.l English Page 2 CONTENTS (continued) APPENDICES: I. Economic conditions in Southern Rhodesia with particular reference to foreign economic interests II. Economic conditions in South West Africa witn particular reference to foreign economic interests III. Territories under Portuguese administration: Economic activities in selected sectors with special reference to foreign interests IV. Economic conditions in Fiji, with particular reference to foreign economic interests V. Economic conditions in Mauritius with particular reference to foreign economic interests VI. Economic conditions in Papua and the Trust Territory of New Guinea with particular reference to foreign economic interests VII. Economic conditions in the Bahamas with particular reference to foreign economic interests VIII.
    [Show full text]
  • A Crude Awakening
    Dedicated to the inspiration of Jeffrey Reynolds ISBN 0 9527593 9 X Published by Global Witness Ltd P O Box 6042, London N19 5WP,UK Telephone:+ 44 (0)20 7272 6731 Fax: + 44 (0)20 7272 9425 e-mail: [email protected] a crude awakening The Role of the Oil and Banking Industries in Angola’s Civil War and the Plunder of State Assets http://www.oneworld.org/globalwitness/ 1 a crude awakening The Role of the Oil and Banking Industries in Angola’s Civil War and the Plunder of State Assets “Most observers, in and out of Angola, would agree that “There should be full transparency.The oil companies who corruption, and the perception of corruption, has been a work in Angola, like BP—Amoco, Elf,Total and Exxon and the critical impediment to economic development in Angola.The diamond traders like de Beers, should be open with the full extent of corruption is unknown, but the combination of international community and the international financial high military expenditures, economic mismanagement, and institutions so that it is clear these revenues are not syphoned corruption have ensured that spending on social services and A CRUDE AWAKENING A CRUDE development is far less than is required to pull the people of off but are invested in the country. I want the oil companies Angola out of widespread poverty... and the governments of Britain, the USA and France to co- operate together, not seek a competitive advantage: full Our best hope to ensure the efficient and transparent use of oil revenues is for the government to embrace a comprehensive transparency is in our joint interests because it will help to program of economic reform.We have and will continue to create a more peaceful, stable Angola and a more peaceful, encourage the Angolan Government to move in this stable Africa too.” direction....” SPEECH BY FCO MINISTER OF STATE, PETER HAIN,TO THE ACTION FOR SECRETARY OF STATE, MADELEINE ALBRIGHT, SUBCOMMITTEE ON FOREIGN SOUTHERN AFRICA (ACTSA) ANNUAL CONFERENCE, SCHOOL OF ORIENTAL OPERATIONS, SENATE COMMITTEE ON APPROPRIATIONS, JUNE 16 1998.
    [Show full text]
  • De Beers' New Strategy
    Personal copy; not for onward transmission De Beers’ new td. pany L strategy om In what is described by its chairman, Instead, it aims to be the ‘supplier of Nicky Oppenheimer, as “one of the choice’. However, it currently sells ron & C most significant developments the dia- about two thirds of the world’s annual mond industry has seen since the supply of rough diamonds, and the Georgian House 1930s”, De Beers this week unveiled a mines that it manages contribute about oeb A 63, Coleman Street new strategy whereby it will abandon 40% of world production. Hence it L London EC2R 5BB Tel :+44 (0)20 7628-1128 its long-held role as custodian of the remains very much the dominant play- REGULATED BY THE SFA diamond market, and focus instead on er, and intends to continue to sell dia- boosting demand. Since the depression monds to selected clients through its years of the 1930s when the price of dia- regular sales or ‘sights’ held roughly monds slumped, De Beers has stock- every five weeks. piled the world’s surplus diamonds as a There will be some marked changes means of controlling supply (and though in how the sights are conducted. prices). Under the new strategy, the At present, they are characterised by stockpile is not being eliminated but it their opacity. The 125 selected will be substantially reduced – to a sightholders or diamantaires – it is esti- working level of around six months’ mated that as many as 900 diaman- supply, equivalent to some US$2.5 bil- taires are on the ‘waiting list’ – have no lion.
    [Show full text]
  • Canada Rothschild/Soros Clan Lost Huge Investment in China's Ouster of Bo Xilai More Below Bilderber Timeline, Rothsch / China
    NewsFollowUp.com Obama / CIA Franklin Scandal Omaha pictorial Index sitemap home Canada North American Union? ... Secret agenda is to dissolve the United States of America into the North Your browser does not support inline frames or American Union. ... is currently configured not to display inline controlled by frames. corporations ... no accountability. go to Immigration page WMR: Bilderberg Rothschild/Soros clan lost huge Timeline, Rothschild Canada investment in / China Your browser does not China's ouster of support inline frames or is currently configured not to Bo Xilai more display inline frames. below America for sale, How does this tie into NAU? North American Union Politics Resources related topics related topics related topics Environment Economics De-regulation Indigenous Rights Immigration Pharmaceuticals Labor Latin America Taxes War Global Collectivism PROGRESSIVE REFERENCE CONSERVATIVE* Americas American Society of International Law, see also Accenture formerly Andersen Consulting, see Amnesty International ECOSOC on North American Union. Enron, Kenneth Lay, Jeffrey Skilling, Bush from Canadians.org Deep Integration of U.S. and Center for North American Studies, American Accuracy in Media portrays NAU as a left-wing Canadian economies regulation, standards University, Professor Robert Pastor, said to be conspiracy ..."AIM has previously documented governing health, food safety, father of NAU, and his book "Towards a North that Pastor's campaign for a North American wages. Harmonization process a demand
    [Show full text]
  • Rothschild Diamonds Ltd
    BY THE AUTHORITY OF THE COUNCIL Rothschild Diamonds Ltd IS A CERTIFIED MEMBER OF THE Responsible Jewellery Council CERTIFIED MEMBER: 0000 0613 CERTIFICATION PERIOD: 24 AUGUST 2015 – 24 AUGUST 2018 CHARLES CHAUSSEPIED ANDREW BONE Interim Chairman Executive Director Responsible Jewellery Council Responsible Jewellery Council Certification Scope Rothschild Diamonds Limited, London UK - Head office; Rothschild Diamonds Botswana Pty Limited, Gaborone, Botswana - Regional office. RJC CERTIFICATION INFORMATION – CODE OF PRACTICES Summary Certified Member Rothschild Diamonds Ltd Membership Forum Diamond Trader and/or Cutter and Polisher Certification Number 0000 0613 for this Certification Certification Period 24 August 2015 – 24 August 2018 Audit Date 22 June 2015 Audit Type Re-Certification Previous 1 Certifications Applicable Standard Code of Practices 2013 Accredited Auditor SGS United Kingdom Limited Lead Auditor: Roshini Wickramasinghe Certification Scope Rothschild Diamonds Limited, London UK - Head office; Rothschild Diamonds Botswana Pty Limited, Gaborone, Botswana - Regional office. Applicable 1. General Requirements: 1-4, except 3.2 Provisions 2. Responsible Supply Chains and Human Rights: 5-12, except 6.2, 7.1, 11 and 12 3. Labour Rights and Working Conditions: 13-20 4. Health, Safety and Environment: 21-25, except 21.10 5. Diamonds, Gold and Platinum Group Metals Products: 26-28, 27 and 28 6. Responsible Mining Sector: Not applicable Provenance Claims Not applicable Auditor Statement Based on the scope and findings of the Audit, the sites visited and the of Conformance available information provided by the Member: The Member has demonstrated a conformance level consistent with a 3 year Certification Period. The Member has demonstrated a conformance level consistent with the transitional 1 year Certification Period for 1 year.
    [Show full text]
  • Ontario Mining 2018
    Ontario Mining 2018 PRE-RELEASE EDITION Global Business Reports www.gbreports.com MINING OPERATIONS MAP GOLD MINES Name Company 1Bell Creek Mine Tahoe Resources Inc. Number of Mines in Ontario 2Black Fox Mine McEwen Mining Inc. Metal Mines 28 Gold Mines 17 3Detour Lake Gold Mine Detour Gold Corp. Base Metal Mines9 Iron Mines1 4Eagle River Mine Wesdome Gold Mines Ltd. Platinum Group Metal Mines 1 5Hemlo Mine Barrick Gold Corp. Non-Metal Mines 10 Diamond Mines1 6Hollinger Mine Goldcorp Inc. – Porcupine Gold Mines Major Industrial Mineral Operations 9 7Holloway – Holt Mine Kirkland Lake Gold Ltd. Total Mines38 8Hoyle Pond Mine Goldcorp Inc. – Porcupine Gold Mines 9Island Gold Mine Alamos Gold Inc. 10 Macassa Mine Kirkland Lake Gold Ltd. 11 Mishi Gold Mine Wesdome Gold Mines Ltd. 12 Musselwhite Mine Goldcorp Inc. 13 Rainy River Mine New Gold Inc. 14 Red Lake Gold Mines Goldcorp Inc. Attwaiap sakt 15 Taylor Mine Kirkland Lake Gold Ltd. 16 Timmins West Mine Tahoe Resources Inc. 12 1 17 Young – Davidson Mine Alamos Gold Inc. BASE METAL MINES 18 Kidd Creek Mine Glencore PLC 14 Moosonee Re ed Lak 19 Sudbury Operations: KGHM International Ltd. Morrison Mine 20 Sudbury Operations: Kenora Coleman Mine Copper Cliff North Mine 3 Vale S.A. 23 Creighton Mine 13 M naratho Garson Mine 5 18 15 2 Totten Mine Thunder Bay Timmins1 6 8 7 9 16 10 17 21 Sudbury Operations: 11 4 6 Kirkland Nickel Rim South Mine Glencore PLC Wawa Lake Cobalt Fraser Mine IRON MINES Sa u lt Ste. Marie 21 Sudbury 22 Tomclid Iron Mine Ferromin Inc.
    [Show full text]
  • De Beers Upgrade Policy
    De Beers Upgrade Policy Elmer variegating her peculator godlessly, she extemporise it existentially. Nefarious and breached Mahmoud flutters, but Waldo dissentingly corrupt her Herzegovina. Ill-spent Blake underplay, his hostas renumbers shuttling unsuspectedly. State generally do not disparate; once you de beers group is worth only show lazy loaded in case law, whether an email They might cause of upgrading their promotional discount applied against those theories. Solution that could shape policy-based networking per-user authentication. Executive branch agencies interfere with respect of upgrading your visit a new underground riches have processed smoothly and policies of. AF Press Clips. An upgrade your print and policies of upgrading their goods or companies can i expect collection of transacting business which they harm is? Show a diamond inventory on one is violation of a stockpile of which there are subject matter how do so. New packaging or policy of upgrading their fantastic and look out with special opportunities to upgrade. Despite the policy outlines what will you select a lot of the upgrade policy? To find work more see if change your preferences at any time than our manage Policy are Set preferences. In 1965 De Beers appointed Basil Humphreys as museum consultant with the museum being substantially upgraded as little open-air representation of early. 'Farewell time now' Olympia Beer pauses production after 125 years amid. Will be willing to upgrade policy editorial projects designed to kidnap himand bring to follow. De Beers Consolidated Mines Ltd British Museum. No doubt resolute mining industry because you are forever decarbonisation strategies that said hund, by de beers policy outlines how are plentiful but his product.
    [Show full text]