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Diamonds News

DiamondCorp embarks on £1m raising for Lace mine

By: Natasha Odendaal     13th January 2017 Dual-listed DiamondCorp has embarked on a conditional placing to raise the capital required to fund critical expenditure requirements of the Lace diamond mine during the Phase 1 business rescue process. The expected gross proceeds of £1-million from the bookbuild, if successful, will pave the way... 

India’s diamond exports to top buyer US seen rising on Trump

By: Bloomberg     13th January 2017 India’s diamond cutters, who polish 14 of every 15 of the world’s gems, are betting on Donald Trump to sustain the expansion of their biggest market in the US, even as Asian buying of luxury stones falters. India expects to export 10% to 15% more polished diamonds to the US in the year beginning... 

Financing solutions will be focus of upcoming diamond summit

By: Martin Creamer     12th January 2017 Finding real solutions to a wide range of financing problems will be the intense focus of the diamond industry's upcoming Presidents’ Meeting and Finance Seminar in Mumbai next month, where a financing task force is expected to be created. The official website of the 2017 Presidents’ Meeting and... 

Financing solutions will be focus of upcoming diamond summit
Photo by Duane Daws
World Federation of Diamond Bourses president Ernie Blom

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

New challenges abound in fundamentally changed diamond market

By: Henry Lazenby     11th January 2017 The future of the diamond industry hinges on the follow-through of structural changes that have been prompted by the challenges the industry faced, and the opportunities presented in a fundamentally changed diamond market, independent diamond analyst Paul Zimnisky says in a new blog post. He... 

New challenges abound in fundamentally changed diamond market

Mineral ‘wrongs’ righted 

By: Martin Creamer     10th January 2017 A company that showed diligence in applying for mineral rights ended up getting mineral ‘wrongs’, a court has found. The Gauteng division of the High Court in Pretoria has ruled that Aquila Steel South Africa is entitled to the mineral right that South Africa’s Department of Mineral Resources... 

‘New’ Rockwell sells noncore Saxendrift assets as CEO Willemse cracks whip

By: Henry Lazenby     23rd December 2016 Dual-listed precious gem producer Rockwell Diamonds has agreed to sell its noncore Saxendrift alluvial diamond assets in South Africa’s Middle Orange River region to private firm Nelesco 318 for C$4.3-million (R45-million). “This transaction represents a significant milestone in our... 

Stornoway achieves commercial production at Renard

By: Henry Lazenby     23rd December 2016 Stornoway Diamond Corp has reached commercial production at its Renard mine, in Quebec, achieving the milestone well ahead of plan and comfortably within the revised lower C$775-million budget set out in February, the company said Thursday. Under the terms of Stornoway’s financing agreements, the... 

Stornoway achieves commercial production at Renard

Central African Republic diamond audit mooted

By: Martin Creamer     19th December 2016 A request for proposals was issued on Monday for the audit of rough diamond stockpiles in the rehabilitating Central African Republic (CAR). A key condition is that the audit be conducted under the supervision of the Kimberley Process monitoring team to ensure full transparency. 

Central African Republic diamond audit mooted

Blom sees tax breakthrough as good for diamonds

By: Martin Creamer     19th December 2016 World Federation of Diamond Bourses (WFDB) president Ernie Blom on Monday praised Israel Diamond Exchange president Yoram Dvash and other industry heads in the country following the signing of what is seen as a major tax breakthrough that will benefit the diamond business. The upshot of the new... 

Blom sees tax breakthrough as good for diamonds
World Federation of Diamond Bourses president Ernie Blom

Troubled Diamondcorp secures repayment standstill

By: Martin Creamer     19th December 2016 Troubled diamond mining company DiamondCorp is being given a repayment breather by South Africa’s State-owned Industrial Development Corporation (IDC). The JSE-listed company, headed by CEO Paul Loudon, said on Monday that the IDC had agreed a loan repayment standstill until the completion of the... 

Troubled Diamondcorp secures repayment standstill
Photo by Duane Daws
Diamondcorp CEO Paul Loudon

De Beers to flood NWT’s Snap Lake mine a year after closure

By: Henry Lazenby     17th December 2016 Diamond major De Beers has announced that it will flood the mothballed Snap Lake mine, in Canada’s Northwest Territories (NWT) in January, more than a year after it was placed on care and maintenance on the back of lower diamond prices. The company said flooding will take about six to eight weeks... 

Diamond tables are turned as market discipline, restocking support prices in 2016

By: Henry Lazenby     16th December 2016 The Zimnisky Global Rough Diamond Price Index is up 12.1% in 2016 through to mid-December, driven higher in the first-half of the year as firm market demand for rough returned as manufactures restocked following the 2015 holiday season. The brainchild of independent diamond analyst Paul Zimnisky,... 

Diamond tables are turned as market discipline, restocking support prices in 2016

Bulk of Cullinan C-Cut Phase 1 nears completion

By: Robyn Wilkinson     16th December 2016 Mining services company Murray & Roberts Cementation will complete its contract at diamond miner Petra Diamonds’ Gauteng-based Cullinan mine this month, concluding the largest portion of the R4-billion Phase 1 expansion project that will initially extend the diamond mine’s life span by about 15 year 

Bulk of Cullinan C-Cut Phase 1 nears completion
DELICATE OPERATION Detailed planning was undertaken to deepen the shafts at the Cullinan C-Cut project without disrupting the existing infrastructure and operations

Difficult drilling proves rewarding at Koffiefontein

By: Robyn Wilkinson     16th December 2016 Diamond producer Petra Diamonds’ geological team has gained access to the kimberlite deposit between the 60 m level and 72 m level at its Koffiefontein project, in the Free State, owing to diamond drilling services provider Lesedi Drilling and Mining Contracting Company’s assistance in... 

Difficult drilling proves  rewarding at Koffiefontein
PRODUCTIVITY LIFTED Production at Petra Diamonds’ Koffiefontein project increased by 37% this year, as the result of more run-of-mine tonnage being treate

Junior miner to complete facility expansions this year

By: Robyn Wilkinson     16th December 2016 All of the facility expansions under way at the Krone-Endora project, in Limpopo, are on track for completion by the end of the year, says Canadian junior mining company Diamcor Mining CEO Dean Taylor. 

Junior miner to complete facility expansions this year
DEAN TAYLOR The current upgrades under way should address all optimisation opportunities identified by past testing and commissioning exercises at Krone-Endora

JV plant to process Kimberley underground ore by H2 2017

By: Robyn Wilkinson     16th December 2016 Diamond miner Petra Diamonds expects all ore from its Kimberley underground operation to be processed through the combined treatment plant associated with its Kimberley Ekapa Mining (KEM) joint venture (JV) from the second half of fiscal year 2017 onwards. 

JV plant to process Kimberley underground ore by H2 2017
POSITIVE SIGNS Global diamond supply remains tight while demand from the US has been stable, with growth in emerging markets detected

New ocean mining vessel fitted with dust-extraction system

By: Dylan Slater     16th December 2016 Ocean mining vessel, the deep-water diamond exploration and sampling motor vessel (MV) SS Nujoma has been fitted with a dynamic scrubber to assist with wet dust extraction on board, once the vessel goes into operation. The dynamic scrubber was provided by mining, bulk materials handling and... 

New ocean mining vessel fitted with dust-extraction system
OCEAN MINING The MV SS Nujoma entering Cape Town before the installation of the dynamic scrubber system

‘Exciting prospect’ awaits decision

By: Robyn Wilkinson     16th December 2016 Diamond explorer and project developer Botswana Diamonds is in discussions with its joint venture (JV) partner, Botswana State-owned copper and nickel producer BCL, to undertake essential verification drilling on a cluster of diamond-bearing kimberlite pipes at the Maibwe exploration project in... 

‘Exciting prospect’  awaits decision
JOHN TEELING There are currently powerful fundamentals driving the international diamond market, with analysts predicting a diamond supply deficit in future

Kennady Diamonds reports maiden Kelvin kimberlite resource

By: Henry Lazenby     14th December 2016 Explorer Kennady Diamonds has published a maiden resource estimate for the Kelvin kimberlite, located at the company’s 100%-owned Kennady North project, in Canada’s Northwest Territories. The TSX-V-listed company said Monday exploration work to date was sufficient to calculate a compliant... 

India’s demonetisation programme impacts De Beers’ rough diamond sales

By: Megan van Wyngaardt     13th December 2016 India’s demonetisation programme has contributed to a “temporary slowdown” in De Beers’ rough diamond sales for the tenth sales cycle. In November, India announced that it would scrap its existing 500 and 1 000 rupee banknotes in a bid to crack down on black market activities. Citizens were given... 

DiamondCorp tender exceeds reserve prices

By: Megan van Wyngaardt     12th December 2016 Dual-listed DiamondCorp has sold 5 116 ct of diamonds recovered at the Lace mine prior to the Lace Diamond Mines (LDM) subsidiary being placed in business rescue in November. The miner sent 5 129.9 ct to Johannesburg for tender, but the number of carats offered for sale was lower after boiling... 

DiamondCorp tender exceeds reserve prices

Botswana diamond mine to retrench 450 workers

By: African News Agency      9th December 2016 At least 450 miners will be retrenched next week at Karowe Diamond miner following a decision by owners Lucara Diamonds to prematurely terminate a mining services contract with South African company Eqstra. The dispute between Lucara Diamond and Eqstra, which has been simmering for months, is... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

By: Bloomberg     9th December 2016 Even for the deepest pockets in the mining industry, diamonds are hard to find. Rio Tinto Group CEO Jean-Sebastien Jacques said this week he’s on the hunt for new diamond mines, but with more than half of the industry controlled by just two companies and new discoveries rare, it’s going to be a... 

Rio’s CEO wants to buy diamonds, but finding them won’t be easy

Lucara tops $1bn in sales since 2012 production start

By: Henry Lazenby     9th December 2016 Southern African diamond miner Lucara Diamond Corp has breached the $1-billion revenue mark for the first time since production at the Boteti Karowe mine, in Botswana, started in June 2012. "Achieving sales of $1-billion is a significant milestone for the company and is a recognition of our... 

Lucara tops $1bn in sales since 2012 production start

Tackling increased alcohol consumption during festive season

By: Nadine James     9th December 2016 The festive season can put companies at risk, as employees are more likely to drink alcohol not only more often but also to the point of excess, says drug and alcohol testing equipment provider Alco-Safe.  Alco-Safe director Rhys Evans notes that based on first-hand reports by safety managers,... 

Tackling increased alcohol consumption during festive season
RHYS EVANS At mining companies the number of people that report to work under the influence of alcohol over December increases to between 200 and 300 people a day

Anglo confronts messy divorce in miner’s South Africa birthplace

By: Bloomberg     8th December 2016 In 1917, Ernest Oppenheimer met with South African general and soon-to-be Prime Minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul. Anglo, along with its sister company De Beers, made... 

Anglo confronts messy divorce in miner’s South Africa birthplace

Millennials could boost global diamond sales

By: Megan van Wyngaardt     7th December 2016 While the global diamond industry may be poised for a modest rally in 2017, several key headwinds persist, including the need for secure access to financing within the midstream sector, slowing consumption in China and the ongoing threat of synthetics and counterfeit diamonds, according to a... 

Millennials could boost global diamond sales

Rio CEO wants to expand in diamond mines rather than divest

By: Bloomberg     7th December 2016 When Rio Tinto Group chief Jean-Sebastien Jacques took the reins of the world’s second-biggest mining company in July, there was speculation he’d sell a host of less desirable mines and smelters. The firm’s diamond business, underpinned by two underground mines, was considered by some analysts as... 

Rio CEO wants to expand in diamond mines rather than divest

Debswana to extend lifespan of Botswana diamond mine

By: African News Agency      5th December 2016 Botswana diamond miner Debswana has reported significant progress in the implementation of the Lethlakane mine tailings resource treatment project (LMTRTP). In a statement issued on Friday, Debswana corporate affairs manager Matshidiso Kamona said the tailing treatment project was 80%complete.... 

Indaba invaluable, time-efficient industry barometer – previous delegates

By: Nadine James     5th December 2016 Considered the preferred deal-making platform for mining in Africa, the Investing in African Mining Indaba – scheduled to run from February 6 to 9, in Cape Town – offers invaluable networking opportunities and informative discussions and presentations, contributing to the success of African... 

Indaba invaluable, time-efficient industry barometer – previous delegates
TIME IS MONEY The Mining Indaba is the most time-efficient way of gaining insight into African mining

Lucara transitions to new Karowe mining contractor as Eqstra Botswana exits

By: Natasha Odendaal     5th December 2016 JSE-listed eXtract subsidiary Eqstra Botswana’s five-year opencast mining contract with TSX-listed Lucara Diamond Corporation’s Boteti Mining, in Botswana, has been terminated after two years. Eqstra Botswana, which started the mining contract in December 2014, will cease all mining operations at... 

Lucara transitions to new Karowe mining contractor as Eqstra Botswana exits

Bloody diamonds entering the market now only 0.2% of global supply

By: Dylan Slater     2nd December 2016 The ban on diamond exports from conflict zones is proving successful in curbing so-called ‘conflict diamonds’ from being sold into official and black markets, thereby reducing the resources’ use as a potential source of finance for rebel groups, according to nonprofit diamond industry... 

Bloody diamonds entering the market now only 0.2% of global supply

Importance of artisanal mining increases in DRC

     2nd December 2016 The stagnation of the formalised mining sector in the Democratic Republic of Congo (DRC) has led to an increase in artisanal mining activity, says the mining representative body DRC Chamber of Mines (CoM). “Artisanal mining in the DRC has become a widespread activity of significant economic... 

Importance of  artisanal mining increases in DRC
SUBSISTENCE MINING Artisanal mining in the DRC has become a widespread activity of significant economic importance

James Campbell joins Botswana Diamonds as MD

By: Megan van Wyngaardt     1st December 2016 Aim-listed Botswana Diamonds has appointed James Campbell MD with immediate effect. He will be based predominately in Johannesburg and will work closely with rough diamond miner Alrosa on the parties’ joint venture (JV) Orapa and Gope licences. 

Four men jailed for one year for unlawful diamond mining in Northern Cape

By: African News Agency      1st December 2016 Four men have each been sentenced to one year in prison after they were convicted of illegal mining in Northern Cape, police said on Thursday. Spokesperson captain Philani Nkwalase said the four men were arrested in April for mining diamonds illegally on De Beers mining area in Kleinzee, a small... 

Mining restarts at Merlin diamond mine

By: Esmarie Swanepoel     30th November 2016 Mining has started at the Kaye openpit, at the Merlin diamond mine, in the Northern Territory, owner Merlin Diamonds said on Wednesday. The company reported that a short mining campaign had started in November, following the successful dewatering of the Kaye pit, with the campaign aimed at... 

Mining restarts at Merlin diamond mine

Court dismisses Rockwell subsidiary liquidation bid by contractor

By: Henry Lazenby     30th November 2016 TSX- and JSE-listed alluvial diamond miner Rockwell Diamonds announced Tuesday that a spoliation application by contractor C-Rock Mining Limited (CML) was dismissed with costs by the High Court in Kimberley, South Africa. This decision clears the way for the company to resume its mining... 

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