Gem Diamonds is planning major investments at two diamond mines, buoyed by increasing global demand for the precious stones.

The London-based company, which recently announced its 2010 results, is betting on the price of rough diamonds continuing to rise this year. The increase is partly driven by strong demand from Chinese consumers.

Three quarters of respondents to a new survey believe their IT projects are doomed to fail from the very beginning.

The study conducted by software development firm Geneca, entitled Doomed From the Start? Why a Majority of Business and IT Teams Anticipate Their Software Development Projects Will Fail examines why teams struggle to meet the business expectations for their projects.

Geneca asked almost 600 individuals closely involved in the software development process to answer 25 closed questions. Some of the key findings are:

Exploration firm Chrysaor has said it will increase its stake in the Spanish Point licences off the west coast of Ireland.

The London-based company will exercise its option to double its stake to 60 per cent, in return for the drilling of up to two appraisal wells on the discovery, which is owned and operated by Dublin-based Providence.

The licences are situated in the Main Porcupine Basin, approximately 200 kilometres off the west coast in a water depth of around 400 metres.

After predictions of a world shortage of uranium at the Prospectors and Developers Assosciation of Canada's annual convention (PDAC) in Toronto last week, the global mining community must suddenly be reeling.

If there were ever a sure bet, uranium was it—before the earthquake in Japan and the subsequent problems unfolding in its “earthquake proof” nuclear reactors.

Not-for-profit oil and gas technology facilitator ITF has announced it is to open a new office in the Middle East.

The organisation hopes that the new Abu Dhabi base, set to open in April, will attract new members and increase awareness of its global technology funding programme.

The office is being set up as part of ITF's international growth strategy that will also see new bases opening in the US, Australia and Asia-Pacific.

The annual convention of the Prospectors and Developers Association of Canada (PDAC) has concluded this week in Toronto, and the consensus of opinion seems to be that 2011 is going to be a sensational year for the mining industry.

The PDAC convention is the biggest event of its kind in the mining calendar, and attracted record crowds this year—no surprise considering that the price of gold, silver, coal and almost every other mined commodity you can think of is at an all time high.

Turkey is close to commencing talks with Ethiopia over signing a free trade agreement (FTA), according to Turkish foreign trade minister Zafer Ça─ƒlayan.

Ça─ƒlayan, who is currently in Ethiopia to participate in talks with the Ethiopian government, said that both countries have already agreed on signing a FTA to ease custom difficulties, according to Turkish newspaper Today’s Zaman.

Turkey currently has FTAs with 13 countries, as well as with members of the European Free Trade Association (EFTA), which consists of four non-EU member states.

Anglo-Australian mining giant Rio Tinto has made another increased bid for Riversdale Mining in an effort to convince shareholders to accept its acquisition proposal.

The new bid values the Australian owned coal miner at $4 billion. Rio first offered $3.5 billion last December, before improving the offer slightly later the same month.

The new bid represents an increase from $16 a share to $16.50, but Rio wants more than 50 per cent of shareholders to accept the bid by 23 March.

The New European Economy Awards has named the Eurail Group the best Sustainable Travel Provider 2010, it has been announced.

The awards recognise excellence, achievements and best practice in the international finance and commerce arenas.

Utrecht, Netherlands-based Eurail Group manages and markets the Eurail Pass on behalf of its stakeholders, and aims to educate business and leisure travellers about the advantages of travelling by train in Europe.