News

December 09, 2008

Kopane Diamond Developments Takes A Tough Decision On Its Satellite Pipe To Focus Exclusively On The Main Event

By Rob Davies

Not so long ago, Tim Read, executive chairman of Kopane Diamond Developments, headed out to Lesotho once again, and the message he took to the government, which, with a 25 per cent stake, is the co-owner of the company’s Liqhobong diamond property, was simple, but painful. The reality is that this is the first recession the diamond industry has faced since De Beers effectively lost control of the market. No longer will a friendly Oppenheimer stand there and offer to buy all the diamonds...