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Diamonds News

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... 

Titanium exercises Paragon share call option

By: Leandi Kolver Diamond development and production company Paragon Diamonds on Thursday announced that Titanium Capital Investments has exercised its call option to buy 60-million ordinary shares in Paragon from Aim-listed Obtala Resources at 3.25p a share. Paragon chairperson Philip Falzon Sant Manduca said the... 

Dominion Diamond chairperson, CEO takes medical leave

By: Creamer Media Reporter TSX- and NYSE-listed diamond miner Dominion Diamond Corporation’s chairperson and CEO, Robert Gannicott, has been granted a medical leave of absence to undergo important treatment, which is expected to continue until mid-February next year. Dominion Diamond has interests in two major producing... 

CAR: Blood diamond hub

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about the dysfunctional Central African Republic, which has taken over as the country where “blood diamond” activity is again rife. 

CAR: Blood diamond hub

Rockwell secures C$4.1m in project funding

By: Natasha Odendaal Current and proposed work programmes on JSE- and TSX-listed Rockwell Diamonds’ projects have been given a shot in the arm as the miner banks C$4.1-million raised through the offering of two-year unsecured convertible debentures. Rockwell on Wednesday said it had secured an amount of C$3-million... 

Central African Republic new ‘blood diamond’ hub 

By: Martin Creamer The dysfunctional Central African Republic (CAR) has taken over as the country where “blood diamond” activity is again rife. Diamonds worth $24-million have been smuggled out of CAR since the suspension of the Kimberley Process last year and Seleka rebels and "anti-balaka" militia are providing... 

Central African Republic new ‘blood diamond’ hub
Photo by Creamer Media
Thierry Vircoulon (right) and Martin Creamer

Sale confirms demand for Lemphane diamonds, says Paragon

By: Natalie Greve Aim-listed Paragon Diamonds has sold a number of diamonds recovered during the company's 2013 bulk sampling programme at its flagship Lemphane kimberlite pipe, in Lesotho, including fancy yellow diamonds that achieved values of up to $2 500/ct. The company said in a statement on Monday that the... 

Govts seek to strengthen Kimberley Process certification scheme

By: Natalie Greve The strengthening of the Kimberley Process certification scheme (KPCS) stood atop the agenda of the delegation of the World Diamond Council (WDC), which joined representatives from 50 governments and several nongovernment organisations at the four-day KP plenary meeting, which concluded in... 

Creamer Media publishes Diamonds 2014: A review of Southern Africa's diamond sector research report

In line with other luxury products, the diamond industry was severely affected by the global recession of 2008/9 and although prices quickly recovered, the industry was in for a rollercoaster ride over the following years, as 2011’s European sovereign crisis threatened to erase gains. However,... 

Creamer Media publishes Diamonds 2014: A review of Southern Africa's diamond sector research report

Brazil Minerals’ GIA graded polished diamonds make the grade

By: Henry Lazenby Brazil-based miner Brazil Minerals (BMIX), a US holding company with revenues from gold and diamonds, announced on Thursday that diamonds cut and polished at its own facility and graded at the Gemological Institute of America (GIA), had achieved an average value of $3 250/ct according to the... 

Stellar targeting 2 000 ct/m from Baoulé in 2015

By: Leandi Kolver Aim-listed Stellar Diamonds aims to increase its production at its Baoulé kimberlite project, in Guinea, to 2 000 ct/m during 2015, Stellar CE Karl Smithson said on Thursday. He noted that the company had managed to establish a trial mining operation at Baoulé over a short period, with the... 

AMCU members still on strike at Lace mine

By: Creamer Media Reporter The strike by members of the Association of Mineworkers and Construction Union (AMCU) at Southern African diamond development and exploration company DiamondCorp’s Lace mine, in the Free State, continues. AMCU members downed tools at the mine on October 23, in protest over DiamondCorp’s refusal... 

Struggling miners see silver lining in FX, cheaper oil

By: Reuters Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize - weaker local currencies and falling oil prices that will help trim their costs. Metal prices have plunged to multi-year lows as the US dollar strengthened against a basket of... 

Dominion Diamond files developers assessment report for Ekati’s Jay pipe

By: Henry Lazenby TORONTO (miningweekly.com) – Canadian precious gem producer Dominion Diamond has filed a developers assessment report (DAR) with the Mackenzie Valley Environmental Impact Review Board for the Jay kimberlite pipe at the Ekati mine, in Canada’s Northwest Territories, as part of the requirements of... 

Zimbabwe considers removal of tax on locally polished diamonds

By: Reuters Zimbabwe is considering removing tax royalties on locally cut and polished diamonds as part of government plans to add value to minerals and attract investment in the sector, the Minister of Mines Walter Chidhakwa said on Thursday. The southern African country, which started its first diamond... 

Guinea is open for business

The Republic of Guinea is prepared to work with international mining investors to develop the country’s mining sector, says Minister of Mines and Geology Dr Kerfalla Yansane. “We want to build strong partnerships for mutual success and we are predicting $50-billion in mining sector investment in... 

Guinea is open for business
Guinea holds the largest untapped iron-ore deposits in the world – 20-billion tonnes of reserves

First diamonds from Ghaghoo mine to be sold in Feb 2015

By: Creamer Media Reporter London-listed miner Gem Diamonds will sell the first 4 028 ct of diamonds recovered at its Ghaghoo mine, in Botswana, in February 2015. The sale of diamonds from the underground mine, which was officially opened in early September, would be held in conjunction with the sale of diamonds recovered... 

Doubled H1 diamond sales drive declaration of ‘special’ dividend by Trans Hex

By: Natalie Greve Sales revenue from diamond producer Trans Hex’s South African operations increased by 59.4% in the six months ended September 30, from R259.7-million in the first half of the prior year, to R414.1-million in the period under review. This was largely the result of a 51.4% increase in average... 

Trans Hex readies for across-the-board profit, output gains in H1

By: Natalie Greve Trans Hex expects net profit for the six months ended September 30 to swing to R35.8-million, from a loss of R53.9-million in the first six months of the prior year. Similarly, profit after tax from continuing operations would improve, from a loss of R69-million in the prior year’s period, to... 

Botswana mining output jumps 16.7% year-on-year in Q1

By: Reuters Botswana's mining production rose 16.7% year-on-year in the first quarter mainly due to the completion of maintenance at the Orapa diamond mine, the first set of industry figures from Statistics Botswana showed on Friday. Diamond output was the biggest contributor to growth in the first quarter,... 

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