De Beers Undergoes Overhaul
August 2001 by Associated PressBehind every diamond engagement ring, every diamond earring, every glittering, multicarat expression of true love once loomed the shadow of De Beers, the cartel that controlled—and, some argue, created—the international diamond industry.
If anyone needed convincing that high metals prices have brought mining back into the public’s consciousness, two conventions held in Vancouver, British Columbia near the end of January 2006 should have ended any doubt.
Since 1906, when the McLeod brothers’ skeletal remains were first found tied to trees with missing heads, prospectors have been going into the Nahanni in search of elusive gold. A lot of those who lust for Nahanni gold have never been heard of or seen again.
Excerpts from California Mining Journal, our original title, published 50 years ago this month.
Two potentially important Canadian projects, which could have produced revenues in the billions and jobs in the tens of thousands, have now been officially abandoned and the reasons offered by both relate to the economic impossibility of successfully negotiating all the regulatory obstacles that have been presented.
On a personal level, I have been part of the business, brokerage and financial columnist worlds for 45 years, since the mid-1960s, and in all those years, I have never seen a collection of negative news items similar to what has been published during the past month. In short, taken together they may very well be describing the end of the economic world systems as we know them.
Strange, isn’t it, how our vocabulary has been expanding of late. Up until late 2001, the term “Twin Towers” meant either the combination of the Federal Budgetary Deficit and the National Debt or the two outstanding forwards of the NBA’s San Antonio Spurs. Suddenly, the only relevant meaning was the two destroyed buildings in New York City. By mid-2002, most of us who hadn’t given Afghanistan a second thought became familiar with names of towns and regions in that country.
The Bawl Mill • Our Readers Say • The Public Process—Getting Involved and Making a Difference • Pacific Northwest Miners Request Help • USFS Roadless Comments Reopened • Flat-Fault Gold • Basic Drywashing Principles • Fields of Gold • Picks & Pans: All That Glitters Pans Out Well! • Gold in Michigan • Update on the West Mojave Desert Planning Area • 2001 Inductees to the National Mining Hall of Fame • Company Notes • The Spanish Silver of Mowry • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices