Green Options » diamonds

6 World Records Set by South African Mines

Dave Harcourt — Mon, 27 Apr 2009 19:15:57 +0000

South Africa is a world leader both in terms of mineral resources and in the development of mining technology to extract these resources. The industry there leads the world in many areas, and has had enormous impact on the growth of Africa and on the environment.

1. The Biggest Open Cast, Hand Dug Mine in the World

The Big Hole of Kimberly was dug by hand, using picks and shovels. There is debate about whether the Big Hole is the biggest hand dug open cast mine in the world. Its surface area of 17 hectares (42 acres) and depth of around 200 metres (650 ft) required the excavation of around 25 million tons of earth and rock. This was achieved in 52 years between 1866 and 1914 by a workforce of up to 50,000 miners. What is beyond dispute though is that The Big Hole yielded 2,720 kilograms (6000 lb) of diamonds significantly more than the Jagersfontein mine, the other contender for the title of biggest. After all what better metric is there than output!

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On Bloomberg TV tonight: Brilliant Earth talks about a conflict free Diamond Industry

Reenita Malhotra — Fri, 24 Apr 2009 23:01:11 +0000

Tonight on the BLOOMBERG TELEVISION® program VENTURE, host Cris Valerio talks to Brilliant Earth Co-Founder Eric Grossberg, about the diamond industry, working with conflict free diamonds, and how social entrepreneurship drives his bottom line.

He talks about how the15 percent drop in diamond prices in the past six months is actually helping his business,

“There is an opportunity with diamond prices going down because we don’t hold a lot of inventory as those prices go down we can pass that on immediately to consumers, where a lot of our competitors in the market are holding inventory that they purchased at higher prices and can’t do the same.”

Venture gives BLOOMBERG TELEVISION(R) viewers an inside look at what it takes to be an entrepreneur. The weekly half-hour program will feature interviews with entrepreneurs and small business owners, focusing on issues and policy that impacts the way Main Street does business. “Venture” airs on Friday nights at 8:00PM ET, 11:30PM ET the show re-airs Saturdays at 1:30am, 3:30, 7:30am, 8:30, 11:30, 6:30pm and Sunday at 12:30am, 3:30, 6:30, 9:30, 12:30pm, 3:30pm.

“Venture” can also be seen on Bloomberg.com

African Diamond Miners Choosing Carrots Over Carats

Bryan Nelson — Wed, 18 Mar 2009 06:13:39 +0000

Finally, some good news to come out of the global recession! As the price of rough diamonds plummets in Africa, miners throughout the continent are instead turning toward a future in agriculture.

Diamond mining has nearly destroyed many African nations. In Sierra Leone, for instance, diamonds are what fueled an 11-year civil war, which killed or injured nearly 100,000 people and displaced millions. The conflict was popularized in the Oscar-nominated blockbuster film, Blood Diamond, starring Leonardo DiCapprio.

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Putin, Russia and the North

Amiel Blajchman — Fri, 15 Aug 2008 16:14:03 +0000

While not new news to any readers who follow international relations, what does it mean when Russian scientists have claimed that the 1,220-mile long underwater Lomonosov Ridge is geologically linked to the Siberian continental platform? While not the start in a race for unclaimed territory, it is simply the latest salvo in an on-going dispute over which nations will be able to control what part of the Arctic, and therefore the ability to exploit or protect.

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How to Start a Green Business without Raising Money

Leah Edwards — Thu, 24 Jan 2008 20:42:59 +0000

When I had the chance to interview Beth Gerstein, co-founder of Brilliant Earth, I first wanted to ask her how they raised the money to start the company. I figured that retailing gold, platinum and diamond jewelry had to be a capital-intensive business and thought Beth could shed light on how a green entrepreneur can convince investors that there is a large market for products that are sustainably produced.

However, I got a very different story. Brilliant Earth has been entirely boot-strapped, although that adjective doesn’t seem apt for a company that sells beautiful products, has an elegant identity system, and does business via a beautiful website.

Brilliant Earth sells conflict-free diamonds, which are mined in Canada in accordance with environmental laws as well as jewelry made of “renewed” gold and platinum, i.e., recycled metals.

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Fair Trade: Healing Diamonds

Brady Swenson — Fri, 08 Jun 2007 13:01:50 +0000

Blood Diamond exposed to the movie-going masses the horrors of the diamond industry's operation in the West African country of Sierra Leone. Four West African countries, Angola, The Congo, Guinea and Sierra Leone, where the diamond trade is bloodiest, produce about 20% (PDF) of the world's rough diamonds. The growing global market for diamonds reached nearly $70 billion dollars in 2005 fueled largely by the insatiable appetite of US consumers who purchased $33 billion dollars in diamonds that year.

The movie has helped to bring energy and attention to reforming diamond operations with the goal of reinvesting more diamond money into the infrastructure and economies of these ruined nations. At the New York International Diamond Conference in February earlier this year an idea emerged to apply Fair Trade standards to the diamond industry in Africa as a first step toward reformation. During the conference Ed Zwick, producer of Blood Diamond, issued a passionate calling out of the diamond industry that inspired quick action.

The Rapaport Report, a leading diamond industry publication, wasted no time in working with the government of South Africa, the Fair Trade Labelling Organizations International and private diamond companies in bringing to market the first Fair Trade diamonds. The diamonds were on display last weekend at the Rapaport Fair Trade Conference held in Las Vegas.

Participants in the conference noted this year's marked difference in the industry's acceptance of ethical trade in diamonds and gems, no doubt in part to the influence of Blood Diamond combined with the rapid growth of Fair Trade and increasing consumer awareness.

Eric Braumwart, CEO of Columbia Gem House, a manufacturer of Fair Trade gems, noted how far the concept of ethical jewelry had evolved over the past few years. Recalling the scant interest in such jewelry at previous conferences as little as five years ago, he shared how some retailers had embraced the concept at this year’s JCK show. “This is the first show where we have had retailers walk into our booth and say ‘We’re ready to buy—we want to buy the concept,’ he said.

The South African diamond trade is already much more standardized and benign to the lives of laborers than its West African counterparts making it more easily certified. Now that a model exists in South Africa the work must begin to export Fair Trade certification and its accompanying improvements for diamond mine laborers and basic infrastructure improvements to the countries that desperately need the reform. And we can also hope that Fair Trade's focus on sustainable production will also help this historically dirty and environmentally indifferent business clean up its act.