diamond joe gutnik eyes phosphate market

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    'Diamond' is a girl's best friend

    Lawrence Money and Suzanne Carbone
    June 6, 2007



    IN THE grand tradition of Therese Rein bolstering the family coffers for pink-cheeked hubby Kev Rudd, mining tyco/on's wife Stera Gutnick is striking out with a new business to help husband "Diamond" Joe, the former Demons president.

    "We've got 11 children," Rabbi Gutnick told Diary, "so it does no harm to have someone else making some money. My wife is building up quite a substantial business. The website opens on Friday."

    Mrs Gutnick's company, supplying giftware and tablecloths, is called Hoydu, which translates as "thank you" or "give praise". Diamond Joe says the business would also provide a job option for those of his children who "do not want, or are not able, to join the mining business".

    Gutnick's loyal attentions to the new spousal enterprise have not hampered his ceaseless search for minerals and those elusive gems, his nickname honouring his lifelong hunt for a diamond El Dorado. "I haven't forgotten it. One day it won't be a joke any more! I was up north last week and I'm there again next week. I have a number of companies here, but the main vehicle is listed in the US called Legend International. My eldest son, Mordi, is in the business. He lives in New York.

    "We have 19,000 square kilometres in the Northern Territory. A very interesting phosphate-uranium deposit and we're always looking for diamonds. Phosphate prices have doubled over the last 12 months. In the US, 25 per cent of uranium is extracted from phosphate. I think we are one of the few deposits in Australia where we can do that."

    It was a happy week to call Gutnick, after Melbourne's first win for the football season. "I still think there should be a change of coach," said Diamond Joe, who (despite ploughing millions into the club) departed the Dees in 2001 amid much boardroom rancour.

    Gutnick copped flak in the 1990s for shifting many Demons' matches to Sunday (Saturdays being his Jewish day of worship). "I remember everyone complaining when Sundays were put in place because of me. Now I'm gone, they play on Sundays of their own free will. It's prime time!"

 
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