Delta Mining and Exploration. Diamonds Sales Grown Three-fold Past 25 Years.
Turning to global markets, Eli Avidar, managing director of Israel Diamond Institute (IDI), said overall diamond sales would grow this year if prices for rough diamonds retreated from the levels they had climbed to on the back of concerns about tightening supply. Last month, the world’s biggest diamond producer De Beers said it expected a reduced supply of rough diamonds to distribute to its clients in the first half of 2007, adding to sector expectations of price increases.
He said global diamond sales were not hurt by December’s release of the Warner Brothers thriller “Blood Diamonds”, starring Leonardo DiCaprio and highlighting the role of the precious gem in Sierra Leone’s 1990s civil war. “The industry world-wide addressed the problem three years ago when it established the Kimberley Process (of checking diamonds’ origins to exclude conflict diamonds from trade)”, Avidar said. “The whole noise about the conflict diamonds was to sell the movie … that was about an old story,” he said.
According to De Beers data presented at the Vicenzaoro fair, about $13 billion worth of rough diamonds are produced globally per year. The global diamond market has increased three-fold over the past 25 years to more than $60 billion a year now.
Delta Mining and Exploration received a report on the samples processed from their Montana target. The micro-probe analysis to determine kimberlite provenance and/or specific mineral chemistry was positive. Link here for report.
Stay tuned: There is so much to tell about this exciting prospect that Stock Guru will be checking in several times a day on this company so you can learn about their advantages in their quest for a U.S. diamond mine!
Source: Delta Mining and Exploration and Reuters 2007
Contact: Alex Livak
Investor Relations
242 Kings Rd.
Lewisburg, Kentuc 42256
Tel: 347-813-4664
Em: info@deltamine.com
Delta Mining
242 Kings Rd.
Lewisburg, KY 42256
USA
Website: http://www.deltamine.com
Phone: 347-813-4664
About Delta Mining and Exploration, Corp: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in Montana. Delta controls some 8000 acres throughout Montana located within the Wyoming Craton where much of North America’s diamonds have been found and has completed two phases of exploration work.
Safe Harbor for Forward-Looking Statements. This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “plan,” “confident that,” “believe,” “scheduled,” “expect,” or “intend to,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company’s products and technologies, competitive factors, timing, and other risks described in the Company’s SEC reports and filings.
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