News

March 11, 2010

Karelian Diamonds Steps Up The Pace On Its Finnish Diamond Properties

By Alastair Ford

The world’s diamond miners and explorers got the fright of their lives as the global financial crisis decimated markets and prices in 2008 and 2009. The gloom and doom was, for a while, all pervasive, as De Beers cut back, Alrosa sought subsidy, and countless projects around the world got mothballed or went on care and maintenance.

Thankfully, though, that whirlwind, though fierce, now seems to have blown itself out, and many companies are now reporting that diamond prices are approaching the levels they were at before the worst of the economic disaster hit. Good news for producers, which should experience some easing of the recent pressure on margins. And also good news for explorers, which have struggled over the past couple of years even to raise interest in exploration, let alone hard cash.

Karelian Diamonds is a...