R/€ = 13.77 Change: -13.64
R/$ = 13.01 Change: -12.88
Au 1252.92 $/oz Change: -10.35
Pt 1029.50 $/oz Change: -15.00

Diamonds News

Botswana Diamonds raises funds as exploration activities gain momentum

By: Anine Kilian     27th February 2017 Aim-listed Botswana Diamonds has raised £525 000 through the placing of 35-million new ordinary shares at 1.5p a share. The net proceeds of the placing will be used to fund ongoing kimberlite drilling at its Frischgewaagt property in South Africa, drilling in Botswana, exploration work in South... 

Rapid energy access needed in Southern Africa

     24th February 2017 The rebound in commodity prices should usher in new projects as well as the expansion of existing operations in Southern Africa’s mining industry, but the region, counteractively, has an insufficient power supply, says fast-track mobile turbine power provider APR Energy regional sales director... 

Uranium, diamonds present potential amid challenges

By: Kimberley Smuts     24th February 2017 The biggest potential for growth in the Namibian mining industry is uranium, notes professional services firm KPMG Namibia senior partner Robert Grant, highlighting that the country is facing tough economic conditions in addition to the impact of drought. He tells Mining Weekly that this growth... 

Stellar raises funds for working capital, to conclude Octea deal

By: Megan van Wyngaardt     23rd February 2017 Stellar Diamonds has raised £324 500 through the issue of 5.9-million new ordinary shares, at an issue price of 5.5p apiece. The miner noted that it had to scale back the placing to not exceed the company’s existing share authorities. 

Trans Hex sees strong sales, production from local operations

By: Megan van Wyngaardt     23rd February 2017 Improved market conditions have resulted in diamond mining company Trans Hex posting improved sales of R201.1-million from the group’s October 2016, December 2016 and February tender sales of diamonds recovered at its South African operations. Some 16 447 ct of diamonds were sold at the tenders... 

De Beers new diamond mine set to reach full commercial production

By: Reuters     22nd February 2017 Gahcho Kué diamond mine, in Canada's Northwest Territories is set to reach full commercial production over the next six weeks, the heads of Anglo American unit De Beers and its Canadian partner Mountain Province Diamonds said on Tuesday. First diamond production at the Arctic mine, the world's... 

De Beers lifts FY16 underlying Ebitda by 42%

By: Ilan Solomons     21st February 2017 Higher revenues contributed to a 42% improvement year-on-year in diamond miner De Beers’ underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) to $1.4-billion in 2016. A 30% increase in revenue to $6.1-billion was driven by stronger rough diamond demand, which led to... 

De Beers lifts FY16 underlying Ebitda by 42%
De Beers results benefited from cost-saving programmes, portfolio changes and the impact of favourable exchange rates as unit costs decreased by 19%

Anglo targets further $1bn in cost, volume improvements in 2017

By: Ilan Solomons     21st February 2017 Diversified miner Anglo American is this year seeking an additional $1-billion in incremental net cost and volume improvements, while also aiming to return to an investment-grade credit rating and resume dividend payments. The group has already identified 75% of these targeted net cost and volume... 

Anglo targets further $1bn in cost, volume improvements in 2017
Anglo American is aiming to have capital expenditure maintained at $2.5-billion and stay-in-business capital increased to $1.2-billion in 2017

Rockwell concludes sale of noncore assets

By: Natasha Odendaal     21st February 2017 While dual-listed Rockwell Diamonds is not yet in the “home stretch” of its quest to effect a turnaround, the company is gaining traction with the conclusion of the sale of its noncore Saxendrift alluvial diamond assets in the Middle Orange River region to private firm Nelesco 318 for... 

Rockwell concludes sale of noncore assets
Rockwell has sold its Saxendrift assets to Nelesco

Russia's Alrosa CEO could step down – sources

By: Reuters     21st February 2017 Andrey Zharkov, head of Russian diamond giant Alrosa, could step down soon, two sources familiar with the situation told Reuters on Monday. Alrosa is the world's largest producer of rough diamonds in carat terms. Together with Anglo American's unit De Beers, they produce about half the world's... 

Stellar to enter into tribute mining agreement with Octea

By: Megan van Wyngaardt     20th February 2017 Stellar Diamonds has terminated discussions with Octea Mining around the acquisition of the Tonguma kimberlite diamond project, in eastern Sierra Leone. Instead, Stellar and Octea intend to enter into a tribute mining agreement, which will allow Stellar to fund and mine the Tonguma licence area,... 

De Beers' Forevermark diamonds to add 10% more outlets in 2017, says CEO

By: Reuters     18th February 2017 Diamond jewellery retailer Forevermark, part of the Anglo American mining group, has expanded to 2 000 outlets globally and expects a further 10% rise this year, CEO Stephen Lussier said on Friday. The number of new Forevermark outlets, which sell selected De Beers diamonds, rose by 14% last... 

Asa delivers mixed quarter as Trojan weighs on performance

By: Natasha Odendaal     17th February 2017 London-listed Asa Resources has delivered a mixed performance in the third quarter as commodity prices declined and some lingering operational difficulties persisted at its Trojan nickel mine, in Zimbabwe. However, the company has implemented several mitigating measures to deal with the... 

Angola seeks to boost its mining sector

By: Keith Campbell     17th February 2017 The State-owned Empresa Nacional de Diamantes de Angola (Endiama – National Diamond Company of Angola) will not need additional investors to develop its Luaxe project, assured company President António Carlos Sumbula at the Angola Business Forum during the recent Mining Indaba in Cape Town.... 

Convention aims to bridge communication gap

By: Simone Liedtke     17th February 2017 As a continually evolving industry that operates globally, sometimes the biggest difficulty for the mining industry is getting the right people together in one place to discuss their challenges and find ways to address and, ultimately, overcome them, says Prospectors and Developers Association of... 

Convention aims to bridge communication gap
EIGHTY-FIFTH CONVENTION Prospectors and Developers Association of Canada's 2017 convention will feature more than 400 exhibitors at the investors exchange and 500 at the trade show

Digitisation of project management imperative for project success

By: Victor Moolman     17th February 2017 Business management consultant SSG Consulting will continue to focus on project management and execution as its core business this year, with the intent of increasing its drive to further improve operational throughput of organisations and projects by 30% to 50%, despite the challenges facing the... 

Digitisation of project management imperative for project success
Photo by Duane Daws
MINE UPGRADES The adoption of big data, cloud, business intelligence, artificial intelligence, mobile technology and the digitisation of business will be the primary driver of successful organisations over the next five years

Group to split to improve customer focus

     17th February 2017 Swedish sustainable productivity solutions provider Atlas Copco will create a new company focused on mining and civil engineering, should it receive backing at its annual general meeting in April. 

Group to split to improve customer focus
STREGTHENING FOCUS Mining and Rock Excavation Technique and Construction Tools are expected to benefit from a more focused management responsibility

Localised conveyor belt supply to boost operational efficiencies

By: Simone Liedtke     17th February 2017 Over the past three to four years, metal prices have dropped precipitously and North American mining operators have been forced to implement more operational efficiencies, states conveyor belt vulcaniser product provider Shaw Almex CEO Tim Shaw. 

Localised conveyor belt supply to boost operational efficiencies
CONVEYOR BELT SOLUTION Many operators have turned to offshore conveyor belt suppliers, resulting in premature product failures and unreliable supply

Rehabilitation plan important for proper project management

By: Victor Moolman     17th February 2017 Rehabilitation should be included and budgeted for in a project’s initial mine plan to ensure proper project management over the entire mine life cycle, says nonprofit organisation Land Rehabilitation Society of South Africa (LaRSSA) president Raina Hattingh. 

Rehabilitation plan important for proper project management
Photo by Victor Moolman
OFTEN NEGLEGTED Unfortunately, the need for including rehabilitation components early on in mine plans is often neglected in South Africa

Tsodilo starts drilling programme at BK16 in Botswana

By: Megan van Wyngaardt     16th February 2017 TSX-V-listed Tsodilo Resources has started a 3 000 m drilling programme at its wholly-owned BK16 kimberlite project, in the Orapa kimberlite field (OKF), in Botswana. The programme will entail the drilling of pilot holes on the sites that have been earmarked for a large diameter drilling (LDD)... 

Gem halts Ghaghoo mine amid low prices

By: Megan van Wyngaardt     16th February 2017 Gem Diamonds has placed its Ghaghoo mine, in Botswana, on care and maintenance with immediate effect. Although the development of the mine had progressed well and reached the point where it would shortly be able to start full commercial production, the material fall in the diamond price from... 

DiamondCorp delays share placement to Feb 28

By: Natasha Odendaal     14th February 2017 The future of the Lace diamond mine, in the Free State, hangs in the balance as dual-listed DiamondCorp again delays its share placement to give the State-owned Industrial Development Corporation (IDC) time to meet conditions precedent, as well as provide the Association of Mining and... 

Firestone hosts successful first sale of Liqhobong diamonds

By: Megan van Wyngaardt     13th February 2017 All 75 936 ct on offer at Aim-listed Firestone Diamonds’ first sale of diamonds recovered from its Liqhobong diamond mine, in Lesotho, have been sold. The sale was held in Antwerp between February 6 and 10, with the company raking in $8.14-million, or an average of $107/ct. Over 90 companies... 

Lulo delivers another large diamond

By: Esmarie Swanepoel     13th February 2017 Diamond miner Lucapa has uncovered a 227 ct diamond at its Lulo project, in Angola. The ASX-listed miner on Monday said the diamond is the second-largest recovered at Lulo to date, behind the 404 ct diamond uncovered in February 2016. It is the biggest diamond recovered to date from the new XRT... 

New Bill on way to boost State involvement in mining

By: Martin Creamer     10th February 2017 A new Bill is to be presented to the South African Parliament to strengthen the State’s role in the industry, currently dogged by legislative, regulatory and administrative tensions between government, business and labour. The Mining Company of South Africa Bill will be presented to Cabinet and... 

New Bill on way to boost State involvement in mining
President Jacob Zuma

A ‘lean, mean’ structure and less burdensome laws key to successful mining of Middle Orange River diamond deposits

By: Ilan Solomons     10th February 2017 The Middle Orange River (MOR) alluvial diamond deposits between Hopetown, Douglas and Prieska, along with deposits along the Riet and Vaal rivers, in the Northern Cape, represent three unique sinks or repositories of high-quality gem diamonds, says independent diamond consultant Dr John Bristow.... 

A ‘lean, mean’ structure and less burdensome laws key to  successful mining of Middle Orange River diamond deposits
Photo by Steyn Diamante
VALUABLE COMMODITY Riet river diamonds yield exceptional gemstone diamonds with prices averaging about $2 500/ct and grades ranging between 0.15 carats per hundred tonnes (cpht) and 0.35 cpht

Lucapa aces first diamond sale for 2017

By: Esmarie Swanepoel     9th February 2017 ASX-listed Lucapa Diamond Company has completed its first diamond parcel sale for 2017 from the Lulo mine, in Angola, generating some A$4.9-million in revenue. The company on Thursday reported that the parcel comprised 2 946 ct of diamonds at an average price of $1 276/ct. The sale included a 75... 

Deloitte seeks strategic investor for Lace diamond mine

By: Megan van Wyngaardt     8th February 2017 Advisory firm Deloitte has invited investors to submit expressions of interest (EOIs) in respect of DiamondCorp’s Lace diamond mine (LDM), in the Free State. The mine was placed in business rescue on November 15, after a flood halted operations. 

Deloitte seeks strategic investor for Lace diamond mine

Forevermark brand expanding customer base globally  

By: Ilan Solomons     7th February 2017 The response to the Forevermark diamond brand has been “just great” in the past three years, which is, to a significant degree, attributable to the brand’s promise of authenticity, quality, uniqueness, integrity and being ethically sourced, states De Beers' Forevermark brand ambassador at Caratco... 

Forevermark brand expanding customer base globally
De Beers' Forevermark brand ambassador at Caratco Anna Russo discusses the brand's growth.

Rio hands diamond mine over to Madhya Pradesh government

By: Esmarie Swanepoel     7th February 2017 Diversified miner Rio Tinto will "gift" the Bunder diamond project, in India, to the government of Madhya Pradesh. Rio last year announced that it would not proceed with the development of the Bunder mine, owing to commercial considerations, and that it would close all project infrastructure. 

Botswana's growth to almost double as commodity sales rebound

By: Reuters     7th February 2017 Botswana's economy will grow by nearly double in 2017 compared to the previous year as Africa's largest exporter of diamonds shakes off a slump in global commodity prices and electricity shortages. In a budget speech to parliament on Monday, Finance Minister Kenneth Matambo said the economy would... 

Lacking local support, De Beers shelves Ontario diamond mine expansion

By: Reuters     7th February 2017 De Beers is shelving immediate plans to study an expansion project at a remote northern Ontario diamond mine after failing to get support from a neighbouring aboriginal community, a "disappointing" setback for the world's top diamond producer, the mine's manager said. 

Gahcho Kué produces 67.87 ct gem-quality diamond

By: Henry Lazenby     7th February 2017 The joint venture (JV) Gahcho Kué diamond mine, in Canada’s Northwest Territories, has recovered a 67.87 ct gem-quality diamond, building on previous recoveries during the bulk sampling programme. The find represents the largest gem-quality diamond recovered at Gahcho Kué to date. 

Stornoway reports better-than-expected 2016 output, confirms 2017 guidance

By: Henry Lazenby     7th February 2017 Gem miner Stornoway Diamond Corporation has reported significantly better-than-expected production results for 2016 on the back of completing construction of the Renard mine ahead of schedule and below budget. The Longueuil, Quebec-based company on Monday reported that the 448 887 ct of diamonds... 

Chamber calls on mining to renounce its apartheid past

By: Martin Creamer     6th February 2017 Mining is the foundation of the South African economy. Much of the manufacturing and services sectors exist because they were initiated to service and provide inputs to the mining industry since the second half of the 19th century. However, mining was also one of the foundation stones of South... 

Chamber calls on mining to renounce its apartheid past
Photo by Duane Daws
Chamber of Mines president Mike Teke

Amendment Bill in limbo, but processes crucial

By: Sascha Solomons     3rd February 2017 While stakeholders are waiting for the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill to pass into law, it is important to not only comply with the current version of the MPRDA, but also to take into account the proposed amendments, comments Hogan Lovells partner and head... 

Amendment Bill in limbo, but processes crucial
WARREN BEECH Renewed consultation might eliminate some of the concerns on the Mineral and Petroleum Resources Development Act Amendment Bill

Downturn allows for focus on research, design enhancement

By: Nadine James     3rd February 2017 Agitator and pump manufacturer AFX Mixing and Pumping Technologies, a division of AFX Holdings, has used the mining downturn to focus on its research and development (R&D) initiatives. AFX director and pumps specialist Toby Frostwick says while the company’s commitment to its R&D outcomes and... 

Downturn allows for focus on  research, design enhancement
WORK HORSE AFX hoses are specifically designed and manufactured to enhance fatigue resistance, resulting in a longer service life for its pumps

Gahcho Kué mine, Canada

By: Sheila Barradas     3rd February 2017 A diamond mine located in Canada's Northwest Territories. 

Gahcho Kué mine, Canada
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