Posts Tagged ‘diamonds’

Fancy trying out the $70 pizza — in the world’s most expensive city?

July 30, 2011

By Andrew Nolan

Saturday July 30 2011

If your boss told you tomorrow that you had been relocated to the most  expensive city in the world where would you think of? Tokyo? In 2009 you would have been right. Moscow? You would have to go back to 2008. London or New York?  Wrong again. The destination on your plane ticket would be Luanda.

It’s official: the Angolan city has the 2011 top spot according to Mercer, a US financial consultancy company which compiles an annual report comparing  prices in the world’s capitals.

So how expensive is it?………

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A diamond in the rough

July 16, 2011

A decade after Angola’s devastating civil war ended, this African nation is rebuilding quickly and wants Israel to take an active role in the work.

LUANDA − We flew 600 kilometers into the heart of Angola’s savannah in order to visit a diamond mine, but we didn’t see a single diamond. A tough South African security officer, accompanied by two grim-looking female Nepalese guards, dogged our every step with increasing suspicion, as if we had come to steal diamonds. More…….

The Blood Diamond returns

June 27, 2010

By MICHAEL ALLEN

CAFUNFO, Angola—On paper, Angola is a poster child for the global effort to keep “blood diamonds” out of the world’s jewelry stores.

International pressure helped end a vicious civil war a decade ago by strangling the ability of rebels to trade diamonds for weapons. Angola is now a leading member of the so-called Kimberley Process, an industry-wide effort to prevent commerce in rough diamonds by insurgent groups. Today, Angola is the world’s fifth-largest diamond producer by value, and its gems are coveted for their size and purity.

But a visit to Angola’s diamond heartland reveals that plenty of blood still spills over those precious stones. Here in the sprawling jungle of northeast Angola, a violent economy prevails in which thousands of peasant miners eke out a living searching for diamonds with shovels and sieves. Because they lack government permits, miners and their families say they are routinely beaten and shaken down for bribes by soldiers and private security guards—and, in extreme cases, killed. More………..

‘We went from a war to oil and diamonds’

June 20, 2010

LUANDA. Through the window of Mohammed Tajideen’s run-down office building on Luanda’s main avenue along the bay called the Marginal, the profiles of dozens of ships can be made out on the horizon.

They have been waiting for weeks, in some cases months, to deliver their cargo to the overburdened port.

“On average, everything here costs about 300 per cent more,” says Mr Tajideen, the president of the import and export conglomerate Golfrate Holdings. More……….

Blood Diamonds culture still alive

June 19, 2010

Check out this Wall Street Journal video about diamond mining in Angola

Angola’s Diamond Industry On The Mend As Gem Prices Recover

June 3, 2010

Angola’s diamond industry is on the mend, as prices of gems begin to rise gradually, following a battering of the mining sector brought about by the global economic downturn.

Like other diamond producing nations, Angola which is endowed with both extensive alluvial diamond deposits and hundreds of kimberlite formations, suffered greatly when the global financial recession wreaked havoc on demand and prices of gems, forcing it to take a nose-dive. More…………