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Diamonds News

JV partners ink IBA with First Nation for Gahcho Kué diamond project

By: Henry Lazenby Precious gems giant De Beers Canada and junior Mountain Province Diamonds (MPD) on Monday announced that they had signed an impact benefit agreement (IBA) with the Northwest Territory Métis Nation (NWTMN) for the proposed Gahcho Kué diamond mine. The IBA put in place a framework for De Beers and... 

Despite sagging grades, prices, Rockwell Diamonds reports record Q3 revenue

By: Henry Lazenby Despite a 22% drop in grade, compounded by a 35% slide in realised prices, Southern Africa-focused diamond miner Rockwell Diamonds reported record diamond sales revenue of $15.8-million for the fiscal third quarter ended November 30, boosted by a 127% increase in carats sold. The... 

Despite sagging grades, prices, Rockwell Diamonds reports record Q3 revenue

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Dominion Diamond swings to Q3 profit

By: Henry Lazenby Canadian precious gem producer Dominion Diamond Corp late on Thursday reported a profit for the October quarter, boosted by higher-than-expected rough diamond output at the Diavik and Ekati mines, in the Northwest Territories. For its 2015 financial year's third quarter, Dominion reported a... 

Diamond demand to outstrip supply

By: Dylan Slater In the next decade, the demand for diamonds will be less than what the industry can supply through its current mining trends and available working mines, says diamond miner De Beers. 

Diamond demand to outstrip supply
THE DIAMOND DREAM De Beers’ diamond dream requires nurturing and protecting by implementing sound best practices throughout the diamond value chain to ensure its legacy is upheld

Expansion projects progressing well

By: Dylan Slater The C-Cut expansion project at diamond miner Petra Diamonds’ Gauteng-based Cullinan diamond mine is 50% complete in terms of the physical development work and the capital expenditure, the miner tells Mining Weekly. 

Expansion projects  progressing well
PURSUING GREATER DEPOSITS The Block 5 sublevel cave will start contributing ore from the second half of Petra Diamonds’ current financial year

Ghaghoo mine starts small

By: Dylan Slater Botswana’s newly established Ghaghoo diamond mine, owned and operated by London-listed Gem Diamonds, will be operated on a ‘small mine basis’ until the value of the resource is fully understood, Gem Diamonds tells Mining Weekly. 

Ghaghoo mine  starts small
GHAGHOO MINE The focus for Ghaghoo mine in 2015 is to ramp up production to mine and treat at a yearly rate of 720 000 t of ore, producing 210 000 ct of diamonds

Stellar secures sufficient funds for working needs until first diamond sales

By: Natasha Odendaal Aim-quoted Stellar Diamonds has secured financing for its immediate working capital needs as it ramps up diamond exports and sales from its Guinea operations. The West Africa-focused diamond development company exported the first diamonds from its 75%-owned Baoulé project this month. 

Strong diamond growth forecast, but funding access could pose threat

By: Sashnee Moodley The diamond industry can expect a strong demand outlook in future; however, access to diamond financing – especially for traders, cutters, polishers and jewellery manufacturers – could hinder future market growth. 

Gemfields rakes in $43m from Southern African rubies

By: Martin Creamer Coloured gemstone mining and marketing company Gemfields has achieved record revenues at a five-day ruby auction in Singapore, where the company raked in $43.3-million from the sale of rubies mined in Southern Africa. This latest value-focused auction generated $9.8-million more than the... 

Gemfields rakes in $43m from Southern African rubies
Ian Harebottle

Strike ends at DiamondCorp’s Lace mine, workers to return on Monday

By: Tracy Hancock A six-week protected strike by Association of Mineworkers and Construction Union (AMCU) members employed at dual-listed DiamondCorp’s Lace diamond mine, in the Free State, has ended.  The employees downed tools at the mine on October 23 in dispute of management's refusal to employ two additional... 

Paragon raises £257 000

By: Natasha Odendaal Aim-listed Paragon Diamonds on Friday said a private placement of 5.7-million shares at 4.5p had netted the Aim-quoted diamond development company £256 825. The company also planned to issue another 250 000 new shares to advisers for services rendered at a price of 4.5p a share. 

Positive fed decision on diamond project bumps-up Shore Gold stock

By: Henry Lazenby The TSX-listed stock of diamond explorer Shore Gold on Thursday morning jumped nearly 24% after Canadian federal Environment Minister Leona Aglukkaq announced a favourable environmental assessment decision for the company’s Star-Orion South diamond project, in Saskatchewan. The Saskatoon-based... 

Rio Tinto on path to sustainable increased shareholder returns

By: Natasha Odendaal Diversified mining giant Rio Tinto on Thursday vowed to “sustainably” increase cash returns to shareholders from next year, and for decades to come. Despite a challenging near-term outlook, the company’s Tier 1 assets, a relentless focus on financial discipline, improved earnings before interest,... 

Rio Tinto on path to sustainable increased shareholder returns

Diamonds look set to do well in 2015 – Investec 

By: Martin Creamer Strong jewellery demand over the US holiday season looks supportive of 2015 being another good year for diamond prices, Investec Securities analyst Marc Elliott said on Thursday. In a note on the strong performance of the London-listed Petra Diamonds in particular, Elliott expected rough prices... 

Diamonds look set to do well in 2015 – Investec
Rough diamonds from Gem Diamonds

First diamonds exported from Baoulé trail mining

By: Leandi Kolver The first diamonds have been exported from Aim-listed Stellar Diamonds’ 75%-owned Baoulé project, in Guinea, the company announced on Thursday. The parcel of 941 ct, including gem diamonds up to 9 ct in size, had been exported to Antwerp, where it would be sold later this month. 

Rio Tinto diamond bet adds sparkle to junior miners' prospects

By: Reuters Rio Tinto's re-commitment to diamonds with a $350-million Canadian mine expansion has highlighted the prospects for a handful of smaller players boasting one of the sector's rarest commodities - new mines. After two decades without a big discovery, the $18-billion diamond mining industry will... 

Study shows economic benefit of concurrent openpit mining, underground development at Tongo

By: Leandi Kolver An independent study undertaken at Aim-listed diamond development company Stellar Diamonds’ 100%-owned Tongo kimberlite Dyke-1 project, in Sierra Leone, has shown attractive economics for concurrent surface openpit mining and underground mine development, the company announced on Wednesday.... 

Liqhobong mine development on track

By: Creamer Media Reporter Aim-listed Firestone Diamonds has, to date, spent R400-million on the development of its one-million-carat-a-year Liqhobong mine, in Lesotho, with the project remaining on track and within budget. Construction on the project, which would include a 500 t/h main treatment plant, started in June and... 

Liqhobong mine development on track
Liqhobong

Stellar reports higher Tongo Dyke-1 reserves, diamond grade

By: Leandi Kolver Aim-listed Stellar Diamonds on Friday announced a 35% increase in the Joint Ore Reserves Committee- (Jorc-) compliant inferred resource for its 100%-owned Tongo kimberlite Dyke-1 project, in Sierra Leone. The project’s Jorc-compliant inferred resource now stood at 1.45-million carats, with bulk... 

Kimberley reports Lerala environmental authorisation progress

By: Esmarie Swanepoel Diamond developer Kimberley Diamonds has received environmental authorization for its Lerala mine, in Botswana. The Botswana Department of Environmental Affairs has approved and completed the transfer of the previously approved environmental impact assessment from Lerala’s previous ownerDiamond... 

Rio and Dominion JV approves $350m Canada diamond investment

By: Esmarie Swanepoel Diversified miner Rio Tinto has given the green light for the development of the fourth pipe, known as A21, at its Diavik diamond mine, in Canada’s Northwest Territories. The A21 pipe development was part of the original mine plan and is estimated to cost $350-million over four years. 

Rio and Dominion JV approves $350m Canada diamond investment

Botswana must diversify – Khama

By: Anine Vermeulen Botswana should focus on establishing a diamond sector that was second to none, President Ian Khama said during the thirteenth Confederation of Commerce, Industry and Manpower in Maun, this week. He noted that the relocation of diamond aggregation and sales to Gaborone, as well as the development... 

Rare ruby expected to attract attention at Gemfields auction

By: Martin Creamer A rare ruby is expected to attract attention at London Aim-listed Gemfields’ upcoming ruby auction. The 40.23-carat rough ruby, unearthed at the company’s Montepuez deposit in Mozambique’s northeast Cabo Delgado province, is expected to set a new benchmark for the quality of African rubies. 

Rare ruby expected to attract attention at Gemfields auction
Photo by Duane Daws
Ian Harebottle

Paragon selects design, orders processing plant for Lemphane

By: Natasha Odendaal Aim-listed Paragon Diamonds has finalised the design and order of a $6-million 75 t/h processing plant for the Lemphane kimberlite mine, in Lesotho. The mine is owned by Paragon’s 80%-owned subsidiary Meso Diamonds. 

Petra BEE partners refinance loan

By: Natasha Odendaal Petra Diamonds’ black economic-empowerment (BEE) partners have secured refinancing from Absa Corporate and Investment Banking and FirstRand Bank, through Rand Merchant Bank (RMB), to settle the R1.08-billion in loans due to Petra following Senakha Mining Investments, Thembinkosi Mining... 

Petra BEE partners refinance loan

New Brazil explorer one to watch, says analyst

By: Natalie Greve Natural resources company Brazil Minerals' commercial strategy of increasing its percentage of polished diamonds sold as opposed to rough diamonds was paying major dividends, as evidenced by the creation of new sales channels and sales in Brazil and the US, stock market research firm Goldman... 

Botswana Diamonds to drive exploration amid ‘oligopolistic’ industry

By: Natalie Greve Botswana Diamonds’ focus will remain on discovering new sources of diamonds in the Southern African State despite potentially volatile market prices and an oligopolistic industry dominated by Alrosa, De Beers, Rio Tinto and Dominion Diamonds. Chairperson John Teeling outlined in a preliminary... 

Botswana still vulnerable to shifts in diamond market – Cutifani

By: Anine Vermeulen There had long been a desire to diversify Botswana's economy beyond its dependence on diamond mining and although some progress had been made in achieving this goal, the country remained vulnerable to shifts in the global diamond market, diversified mining major Anglo American CEO Mark Cutifani... 

Botswana still vulnerable to shifts in diamond market – Cutifani
Anglo American CEO Mark Cutifani

Urgent action needed to end overstated diamond certification – World Federation

By: Martin Creamer Urgent action was needed to stop diamonds being sold with overstated certification, World Federation of Diamond Bourses president Ernie Blom said on Friday. Blom, who blamed a few laboratories for damaging the reputation of the entire diamond industry, urged stakeholders the world over to stand... 

Urgent action needed to end overstated diamond certification – World Federation
Photo by Duane Daws
Ernie Blom

Dominion Diamond reports ‘exceptional’ Q3 FY2015 production results for Ekati, Diavik

By: Creamer Media Reporter TSX-listed Dominion Diamond Corporation reported on Thursday that its Ekati and Diavik diamond mines performed exceptionally well in the third fiscal quarter of 2015, August through October, with rough diamond production, sales and pricing all exceeding plan.  Consistent with the two previous... 

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