Commodities | - Part 2

Gem Diamonds’ revenue rises on Letseng’s high-grade diamonds

Lesotho (Capital Markets in Africa): – Gem Diamonds Ltd said its sales increased in the year to date as it sold more high-grade diamonds from its flagship Letseng mine in Lesotho despite a weaker diamond market. Gem Diamonds said it earned an average of $2,146 per carat in the first three tenders of 2015, compared with $2,140 in the fourth quarter of 2014. The miner, which expects production at its Ghaghoo mine in Botswana to…

Cameroon cocoa exports up 24 pct y/y in April

Posted on by The Editorial Team

Younde, (Capital Markets in Africa):- Cameroon cocoa exports jumped 24 percent to 181,893 tonnes year-on-year by end-April since the start of the 2014/15 season on Aug. 1, data from the sector’s regulator showed on Tuesday. Statistics from the National Cocoa and Coffee Board (NCCB) showed that Africa’s fourth biggest grower shipped 4,384 tonnes of cocoa beans in April, down from 10,810 tonnes in March. But exports rose slightly, compared with 3,043 tonnes exported during the same…

EU lawmakers seek ban on “blood metals” in surprise vote

Posted on by The Editorial Team

By Robin Emmott BRUSSELS (Reuters) – The European Parliament voted on Wednesday to ban all products that contain “blood metals” sold by African warlords, but the legislation is likely to be blocked by EU governments who fear it would impose an unrealistic burden on business. The surprise result marked a defeat for the pro-business European People’s Party (EPP), the parliament’s biggest grouping, who need fellow centrist allies to pass laws following last year’s EU elections…

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