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Diamonds News

BlueRock sells two D-colour Kareevlei diamonds

By: Tasneem Bulbulia     22nd February 2019 Aim-listed BlueRock Diamonds has sold the 8.97 ct diamond and the 16.28 ct diamond, that it recovered earlier this month at its Kareevlei diamond mine, in the Kimberley region of South Africa. The 8.97 ct diamond achieved a price of $8 306/ct, valuing it at $74 513, while the 16.28 ct diamond... 

Lucara records strong 2018 operational performance at Karowe mine

By: Tasneem Bulbulia     22nd February 2019 Lucara Diamonds’ Karowe mine, in Botswana, achieved a strong operational performance in 2018, meeting or exceeding guidance in all areas, the company said on Thursday. Tonnes mined for the year ended December 31, 2018, reached 18.1-million, in line with guidance of 15.5-million to 18.7-million... 

De Beers says laboratory-grown diamond wholesale prices fall by up to 60%

By: Reuters     22nd February 2019 Wholesale prices for laboratory-grown diamonds have fallen by up to 60% since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall. De Beers, part of mining group Anglo American, shocked the... 

De Beers FY18 revenue up 4% y/y

By: Marleny Arnoldi     21st February 2019 Anglo American subsidiary De Beers achieved a 4% year-on-year increase in revenue to $6.1-billion in 2018, compared with $5.8-billion in 2017, which was supported by improved high-end jewellery sales at De Beers Jewellers. Its earnings before interest, taxes, depreciation and amortisation,... 

De Beers FY18 revenue up 4% y/y

Lucapa prioritises high-value diamond production, resources

By: Tasneem Bulbulia     20th February 2019 Following a board review of the company’s diamond assets, Lucapa Diamond Company will prioritise production and cash generation from its two high-value diamond mines, the Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho, to ensure shareholder value is maximised. This... 

Lucara finds another 223 ct gem in Botswana

By: Creamer Media Reporter      19th February 2019 2019 is off to a great start for Lucara Diamond Corp, with the Canada-headquartered mining company having recovered another large diamond at its Karowe mine, in Botswana. The large find is a 223 ct, high white gem diamond, which will be shown alongside the 240 ct and 127 ct top white gem... 

Lulo delivers 128 ct diamond

By: Esmarie Iannucci     19th February 2019 Diamond miner Lucapa Diamond Company has recovered a 128 carat diamond from its Lulo alluvial mine, in Angola. The diamond is the twelfth stove over 100 carats to be recovered to date from the Lulop operation, which continued to underline the large-stone nature of the Lulo diamond field, said... 

Intensification drilling under way at Botswana Diamonds’ Thorny River

By: Tasneem Bulbulia     18th February 2019 Aim- and BSE-listed exploration company Botswana Diamonds has started with the planned intensification drilling on its Thorny River prospect in South Africa, with the first four holes having intersected diamonds at predicted thicknesses and depths.  The programme, which comprises the drilling of... 

Petra appoints new CEO, narrows H1 net loss 

By: Tasneem Bulbulia     18th February 2019 LSE-listed Petra Diamonds, which on Monday announced the appointment of Richard Duffy as CEO, narrowed its adjusted net loss after tax to $4.5-million for the six months ended December 31, 2018, from the net loss of $7.2-million recorded for the six months to December 31, 2017. Nevertheless,... 

Petra appoints new CEO, narrows H1 net loss
Photo by Creamer Media
Richard Duffy

Govt, industry collaboration needed to create thriving diamond industry – Ernie Blom

By: Simone Liedtke     15th February 2019 World Federation of Diamond Bourses president Ernie Blom has called on Mineral Resources Minister Gwede Mantashe, through an open letter, to put into practice what government has said regarding the development of the South African mining industry, in general, and to help “pave the road to... 

Resources Watch  

14th February 2019 Working together can deliver mining’s massive benefits; De Beers to spend R30m on diamond exploration this year; and, Ramaphosa challenges mining to take ten value-adding steps 

Resources Watch
Resources Watch

Vast Resources set to mine Zimbabwe diamond territory – Minister

By: Reuters     14th February 2019 London-listed miner Vast Resources is to be allowed into Zimbabwe's diamond fields, Mining Minister Winston Chitando said on Thursday, joining other new entrants including Russia's Alrosa. Zimbabwe is stepping up efforts to exploit its mineral resources to revive a moribund economy sapped by high... 

Famed Cullinan mine banks on big diamonds to drive down debt

By: Reuters     14th February 2019 The owner of one of the world's most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand. Petra Diamonds bought Cullinan in 2008, aiming to breathe new life... 

Alrosa’s January sales down 44% y/y

By: Simone Liedtke     12th February 2019 Following a strong performance in December, Russian miner Alrosa’s rough and polished diamond sales fell to $281.5-million in January – a 44% decrease on the same month in 2018. January’s rough diamond sales amounted to $278.2-million and polished diamond sales were $3.4-million, the company... 

Alrosa’s January sales down 44% y/y

Firestone’s Lesotho mine delivers 70 ct diamond

By: Simone Liedtke     12th February 2019 Aim-listed Firestone Diamond has recovered a 70 ct white, makeable diamond from its Liqhobong mine, in Lesotho. CEO Paul Bosma said on Tuesday that the 70 ct stone was recovered in the northern, low grade part of the pit where the bulk of Firestone’s mining would take place in the coming months. 

Xolobeni judgment continues to confound 

By: Martin Creamer     11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other.  But the... 

Xolobeni judgment continues to confound
Mineral Resources Minister Gwede Mantashe

BlueRock raises £575 000 for further Kareevlei development

By: Tasneem Bulbulia     11th February 2019 Aim-listed BlueRock Diamonds has raised £575 000 before expenses through the issue of 191.67-million shares at a price of 0.3p a share.  The funds will be used to continue the development of the Kareevlei mine, in the Kimberley region of South Africa. 

Mining Indaba 2019 highlights 

8th February 2019 The 25th Investing in African Mining Indaba took place this week. Mining Weekly editor Martin Creamer attended the indaba and unpacks the highlights. 

Mining Indaba 2019 highlights
Mining Indaba 2019 highlights

DRC’s new President an ‘unknown factor’ as far as mining is concerned

By: Rebecca Campbell     8th February 2019 The Democratic Republic of Congo (DRC), lying pretty much in the centre of Africa, is geographically the 11th biggest country in the world and is well-known for its mineral riches. In its most recent (2014) report “The Mineral Industry of Congo (Kinshasa)”, the US Geological Survey (USGS) noted... 

DRC’s new President an ‘unknown factor’ as far as mining is concerned

Letšeng delivered record number of large diamonds for Gem in 2018 

By: Nadine James     7th February 2019 Relatively stable carat recovery and sales contributed to a strong performance for LSE-listed Gem Diamonds in the fourth quarter ended December 31. Gem on Thursday reported that it had recovered three diamonds larger than 100 ct at its Letšeng mine, in Lesotho, during the quarter, taking the... 

Angola's Endiama sees diamond output rising to 13.8 Mct by 2022

By: Reuters     6th February 2019 Angola's State-owned diamond firm Endiama sees production rising to 13.8-million carats in 2022 compared with 9.5-million carats forecast for this year, a senior official said on Wednesday. Production in 2018 was 9.4-million carats, Endiama's director of geology, Kapingana Mandavela, told an... 

BlueRock recovers 8.97 ct diamond at Kareevlei

By: Tasneem Bulbulia     5th February 2019 Aim-listed BlueRock Diamonds has recovered an exceptional 8.97 ct diamond at its Kareevlei mine, in the Kimberley region of South Africa. This will be the third diamond to be recovered at Kareevlei that is independently valued at more than $50 000. 

Firestone on track to meet FY guidance despite subdued environment

By: Simone Liedtke     4th February 2019 Aim-listed Firestone Diamonds on Monday reported that it had treated 1.9-million tonnes of ore in the six months to December 31, in line with the company’s full-year guidance of between 3.6-million tonnes and 3.9-million tonnes treated. In a quarterly operations update for its Liqhobong diamond... 

De Wit resigns as Tsodilo president, COO

By: Simone Liedtke     1st February 2019 Dr Michiel de Wit will be stepping down as TSX-V-listed Tsodilo Resources president and COO. Dr Alistair Jeffcoate has been appointed as his successor. 

Lucapa gets A$22.9m at inaugural tender

By: Esmarie Iannucci     1st February 2019 Diamond miner Lucapa Diamond Company has generated A$22.9-million in revenue from the first sale of exceptional diamonds under the new diamond marketing policy in Angola. The ASX-listed company sold seven large and top quality diamonds weighing 498 ct from its Lulo alluvial mine, achieving a... 

Natural diamond industry performing well despite less positive narrative

By: Nadine James     1st February 2019 Based on diamond miner equities, sentiment surrounding the diamond industry is currently at a historically low level, says diamond analyst Paul Zimnisky. However, global diamond jewellery sales have been growing at a steady rate, in nominal and real terms, for the past nine years, he adds. In a... 

Natural diamond industry performing well despite less positive narrative

Operations resume at BlueRock’s Kareevlei mine

By: Marleny Arnoldi     30th January 2019 Operations have resumed at Aim-listed BlueRock Diamonds’ Kareevlei diamond mine, in Kimberley, in South Africa’s Northern Cape province. This follows a temporary suspension of operations from January 22, after the Department of Mineral Resources imposed a Section 54 notice.  

Operations resume at BlueRock’s Kareevlei mine
Kareevlei processing plant

Alrosa unearths 191ct diamond at Udachny

By: Mariaan Webb     29th January 2019 Russian diamond miner Alrosa has discovered its largest rough diamond in about two-and-a-half years, with the Udachnaya kimberlite pipe earlier this month delivering a 191.46 ct stone. The 40 mm by 31 mm by 20 mm diamond was extracted at the processing plant No 12 of Udachny mining and processing... 

Alrosa unearths 191ct diamond at Udachny
The Udachnaya No 12 plant.

Stornoway appoints VP of operations

By: Creamer Media Reporter      29th January 2019 Quebec diamond miner Stornoway Diamond Corporation has appointed Patrick Sévigny to the position of VP for operations, effective immediately. With more than 25 years of experience in the sector, mining engineer Sévigny joined Stornoway in January 2015 as manager of mining operations at the... 

De Beers sells $505m rough diamonds in first sales cycle 

By: Simone Liedtke     29th January 2019 Diamond producer De Beers on Tuesday reported that rough diamond sales in this year's first sale cycle had reached $505-million. This is $167-million less than the $672-million earned in the first sales cycle of 2018. 

De Beers sells $505m rough diamonds in first sales cycle
De Beers CEO Bruce Cleaver

Petra delivers solid H1 output, says diamond market outlook remains stable 

By: Simone Liedtke     28th January 2019 LSE-listed Petra Diamonds delivered solid production, along with a “continued improvement” in its safety performance, in the first half of the 2019 financial year. CEO Johan Dippenaar on Monday said the mining company, which operates the Cullinan, Finsch and Koffiefontein mines, in South Africa,... 

Petra delivers solid H1 output, says diamond market outlook remains stable
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Lucara recovers 240 ct diamond at Karowe

By: Creamer Media Reporter      28th January 2019 Lucara Diamond Corporation's Karowe mine, in Botswana, has yielded another significant find – a 240 ct top white gem diamond. It will be shown alongside the 127 ct, top white gem diamond recovered earlier this year, together with other exceptional diamonds recently recovered from Karowe at... 

Angola’s 2018 diamond production exceeded forecast

By: Rebecca Campbell     25th January 2019 Angola produced a total of 9.43-million carats of diamonds last year, which brought in revenues of $1.2-billion. These figures were reported to the Angolan news agency Angop by Endiama President Ganga Júnior. Ediama stands for Empresa Nacional de Prospecção , Exploração, Lapidação e... 

Consultancy plans to expand mining capability

By: Jessica Oosthuizen     25th January 2019 Multidisciplinary engineering and environmental consultancy Knight Piésold aims to expand its mining capability and market share, especially in tailings, as well as assist mines in developing renewable-energy projects in remote areas where grid power is unavailable or unreliable, says Knight... 

Consultancy plans to expand mining capability
AWARD WINNING Knight Piésold won a South African Institution of Civil Engineering award for the design of the tailings storage facility of diversified miner Vedanta’s four-million-tonne-a-year Gamsberg zinc project

Indaba celebrates silver anniversary, reaffirms commitment to Africa

By: Nadine James     25th January 2019 The 2019 Investing in African Mining Indaba – to be held at the Cape Town International Convention Centre from February 4 to 7 – will be the twenty-fifth iteration of the event, with the “world’s largest mining conference” having reached this milestone being testimony to its relevance and value,... 

Indaba celebrates silver anniversary, reaffirms commitment to Africa

Lucara marks progress on Karowe feasibility study

By: Tasneem Bulbulia     24th January 2019 Lucara Diamond Corp continues to make progress with the feasibility study for a potential underground operation at its 100%-owned and operated Karowe diamond mine, in Botswana. Following the release of a positive preliminary economic assessment (PEA), the company last year embarked on a technical... 

BlueRock temporarily suspends operations at Kareevlei

By: Tasneem Bulbulia     24th January 2019 Aim-listed BlueRock Diamonds has temporarily suspended operations at its Kareevlei mine in the Kimberley region of South Africa, owing to the imposition of a Section 54 notice from the Department of Mineral Resources (DMR). The Section 54 notice is in relation to the code of practice relating to... 

De Beers lowers 2019 output guidance

By: Tasneem Bulbulia     24th January 2019 Diamond miner De Beers has lowered its production guidance for 2019 to between 31-million and 33-million carats. The company, which on Thursday reported production of 35.3-million carats for the 2018 financial year, attributes the lower production guidance to its existing Venetia openpit, in... 

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