De Beers settlement fund

[stebbo]

What were the suits initially about?

 

[Kaleigh]

Date: 10/12/2007 10:44:48 PM
Author:stebbo
What were the suits initially about?

Any links for us??

 

[Regular Guy]

DeBeers?

 

[stebbo]

Date: 10/12/2007 11:00:49 PM
Author: Regular Guy
DeBeers?

You're a funny guy Ira!

Next time I look at the link URL before I click it.

 

[stebbo]

Date: 10/12/2007 10:48:58 PM
Author: Kaleigh

Date: 10/12/2007 10:44:48 PM

Author:stebbo

What were the suits initially about?

Any links for us??

Sorry Kaleigh, here''s one

 

[Kaleigh]

Date: 10/12/2007 11:21:43 PM
Author: stebbo

Date: 10/12/2007 10:48:58 PM
Author: Kaleigh

Date: 10/12/2007 10:44:48 PM

Author:stebbo

What were the suits initially about?

Any links for us??

Sorry Kaleigh, here's one

Thanks stebbo, but info was lacking want more..

Ira, ok that was funny!!

 

[stebbo]

Date: 10/13/2007 12:30:27 AM
Author: Kaleigh
Thanks stebbo, but info was lacking want more..

Me too, that's why I posted

Neil's already been on tonight, so we might have to wait until tomorrow unless John logs on when he comes home. Or maybe Garry doing Pricescope night shift might know?

 

[Garry H (Cut Nut)]

briefly DB''s ran a monopoly - or tried too. US govt does not like monoply''s unless they run them.

DB''s was sued and ran away and never came back to USA.
They were then banned fom USa for many years, operated their diamond info thru PR companies.
and so they never faced any legal battles.

Now they want to be nice affable cuddly retailers and mine diamonds in Canada and not have their execs put in jail - so they did a settlment deal.

Quite a lot of the claims i think are really to do with rough abraisives diamonds - not jewellery.

big deal?
290 over x years in a 3000 pa jewel plus the abrasives industry?
do not really follow it or care much

 

[JohnQuixote]

 

[stebbo]

Thanks immensely guys - I''m sure it would have taken me quite a bit of reading to understand what it''s truly all about.

 

[Quash]

John, I''m assuming you are referring to this article:
Russell Shor’s “A Review of the Political and Economic Forces Shaping Today’s Diamond Industry” (Fall 2005)

Know where any of us consumers might be able to find a copy of this article? Looks very interesting and I''d love to be able to track it down.

Quash

 

[JohnQuixote]

Date: 10/14/2007 4:03:16 PM
Author: Quash

John, I''m assuming you are referring to this article:
Russell Shor’s “A Review of the Political and Economic Forces Shaping Today’s Diamond Industry” (Fall 2005)

Know where any of us consumers might be able to find a copy of this article? Looks very interesting and I''d love to be able to track it down.

Quash

Quash, that''s the one. You can purchase single issues at this link for around $20 I believe (click online order form or call the number).

By the way, one of the finest gifts the trade has ever been given is all G&G back issues, 1934-1980, online. They''re available for reading here. Thank you GIA!

 

[JohnQuixote]

On the subject of African beneficiation here is a recent story, and a transcript of Gareth Penny''s address from the Antwerp Diamond Conference. Penny has been the prime architect of the radical change in DeBeers'' business model.

Summary comments:

i]

2. Africa faces many challenges but has made significant progress in recent years-40 democracies and good economic growth;

3. Diamond producing countries have shown remarkable change- DRC, Sierra Leone, Liberia, Angola, South Africa, Botswana, Namibia and Tanzania;

4. For them, beneficiation is not a passing whim, but an economic imperative;

5. For us in De Beers, we recognize and support this imperative as we look to expand our successful mining operations into the local Diamond Trading Companies being established;

6. To achieve this vision, we will all have a part to play - producer governments, providing the right environment; De Beers and other producers - a steady and appropriate diamond supply; diamond manufacturing companies - capital, technology and know-how and traditional centres - access to banking facilities; and consumer markets - design and trading facilities;

7. Ultimately, the success of our industry will be determined by the consumer who will demand that diamonds do good;

8. Finally the Kimberley Process has shown that the diamond industry could lead the world in developing creative solutions for the betterment of Africa. We can do it again by making diamonds, the most value added natural resource on the continent.>>