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Rockwell Q4 results impacted by lower grades, sales

By: Megan van Wyngaardt     Updated 3 hours ago Dual-listed Rockwell Diamonds’ fourth-quarter operating performance was negatively impacted by lower grades at its Saxendrift operation, lower volumes at its Niewejaarskraal project and a drop in overall carats sold. “While we achieved revenue growth of 19% to C$17.1-million and our average cash... 

Botswana's Okavango diamond sales fall 20%

By: Reuters Botswana's Okavango Diamond Company (ODC) sold 1.02-million carats worth $193-million in the five months to May, 20% less than the same year-ago period due to a weaker market and lower output, the firm said on Thursday. State-owned ODC, which has held four tenders in 2015, is expected to sell 14%... 

Chute system addresses materials processing challenges

Bulk materials handling in the mining industry is a significant challenge, with conveyor systems often having to achieve belt speeds from 2.5 m/s to 5 m/s, says chute systems and solutions company Weba Chute Systems founder Werner Baller. He says that the correct application of Weba Chute’s... 

Chute system  addresses materials processing challenges
IN TRANSIT Transfer points play a vital role in increased throughput and productivity if designed and engineered correctly

Flow-through share scheme a major source of funds for Canadian juniors in challenging market

By: Henry Lazenby The challenging global capital marketplace has seen the junior mining exploration sector struggle to obtain the funds it needs to look for and find the mineral deposits that will become tomorrow’s new major mines. However, if it were not for Canada’s innovative flow-through share tax incentive,... 

Flow-through share scheme a major source of funds for Canadian juniors in challenging market

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed midtier... 

Stellar sells more diamonds from Baoulé trial mining

By: Megan van Wyngaardt West Africa-focused Stellar Diamonds has sold diamonds valued at $505 000 at a recent auction. The Aim-listed diamond development company on Thursday said this brought the sales from its 75%-owned Baoulé kimberlite pipe, in Guinea, to over $922 000, of which $700 644 were derived from the trial... 

Lucapa to sign earthmoving deal, lists on Frankfurt Stock Exchange

By: Megan van Wyngaardt Dual-listed Lucapa Diamond Company is set to sign a A$4.5-million deal with unnamed partners to source new Caterpillar earthmoving equipment. The company, which on Thursday completed a secondary listing on the Frankfurt Stock Exchange, said the new equipment would enable diamond mining at its... 

De Beers, six others form Diamond Producers Association 

By: Creamer Media Reporter De Beers has partnered with six other diamond miners to establish the Diamond Producers Association (DPA), which would actively engage with industry and nonindustry organisations to promote the interests of the diamond sector. The other founding members were Alrosa, Rio Tinto, Dominion Diamond... 

De Beers, six others form Diamond Producers Association

Rockwell moves to close Remhoogte/Holsloot deal

By: Natalie Greve South African diamond miner Rockwell Diamonds has completed a “substantial” portion of the conditions precedent for its acquisition of the Remhoogte/Holsloot operations and associated assets, paving the way to close the transaction and assume ownership on June 1. The properties and assets were... 

Peregrine first junior to join Diamond Bourse of Canada

By: Henry Lazenby Explorer Peregrine Diamonds is the first junior mining company to become a member of the Diamond Bourse of Canada (DBC), joining the ranks of diamond major De Beers Canada, among others. The DBC was a central commodity exchange facility and a network that brought together buyers and sellers and... 

Namibian mining’s pulling together boosting country’s economy – Nedbank 

By: Martin Creamer Despite the Namibian economy being tied to the South African economy, it has been able to grow ahead of South Africa, which a leading mining investment banker puts down to Namibia’s “sensible” mineral policies, as well as the Namibian mining industry’s close working relationship with its... 

Namibian mining’s pulling together boosting country’s economy – Nedbank
Photo by Duane Daws
Paul Miller

Nedbank clinches African mining financing deals worth $540m

By: Martin Creamer Nedbank has closed $540-million worth of mining financings on the continent of Africa in the last 18 months. Speaking to Creamer Media’s Mining Weekly Online on Tuesday, Nedbank Capital international mining finance head Nivaash Singh said the bank was very much open for business in Africa and... 

Nedbank clinches African mining financing deals worth $540m
Photo by Duane Daws
Nivaash Singh

Mining to kick off at Lace mine ahead of schedule in H2

By: Natalie Greve Diamond developer DiamondCorp says development of the Upper K4 (UK4) mining block, at its flagship Lace diamond mine, in the Free State, is on schedule for mining operations to start in the second half of the year – several months ahead of the original development schedule. Underground core... 

Trans Hex readies for hefty FY earnings jump

By: Natalie Greve Diamond producer Trans Hex, which is finalising its results for the year ended March 31, 2015, expects earnings a share to increase by between 765% and 785% year-on-year to between 179c and 183c for the 12 months. Similarly, headline earnings a share were expected increase by between 725% and... 

De Beers inviting bids for life-extending takeover of Kimberley Mines 

By: Martin Creamer South Africa’s De Beers Consolidated Mines (DBCM) on Thursday announced its intention to dispose of its Kimberley Mines as a going concern by competitive tender to a new owner able to extend the life of the historic operations beyond 2018 and preserve 650 jobs in the process. The current... 

De Beers inviting bids for life-extending takeover of Kimberley Mines
Photo by Duane Daws
Phillip Barton

Gem Diamonds encouraged by Lesotho, Botswana progress

By: Natasha Odendaal Despite a “noticeably weaker” first-quarter market, the first three tenders in 2015 for the flagship Letšeng mine, in Lesotho, had generated prices comparable to that of the three tenders in the final quarter of 2014, London-listed Gem Diamonds CEO Clifford Elphick said on Thursday. Providing a... 

Resources Watch

By: Creamer Media Reporter This week: A premium should be placed on the reputational risks to the diamond sector. State miner aims to increase output by the end of the year. And, the DMR’s new fatigue-monitoring code of practice is welcomed. 

Resources Watch

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot

By: Martin Creamer The Chamber of Mines of South Africa on Wednesday revealed a strategic plan to get South Africa’s “great mining industry” back on the front foot. Speaking at the well-attended 125th annual general meeting (AGM) of the historic organisation, chamber president Mike Teke – who was re-elected for a... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot
Photo by Duane Daws
Chamber president Mike Teke (right) having a word with his vice-president Graham Briggs.

BlueRock completes upgrade of Kareevlei plant, resumes commercial mining

By: Natasha Odendaal With trial mining, stockpiling and a new plant now completed, 18 months of hard work have come to fruition as Aim-listed diamond miner BlueRock Diamonds accelerates commercial production at its Kareevlei tenements, in the Northern Cape. With a new £300 000 fully operational plant in commercial... 

Uranium becoming a spearhead of Namibian mining

By: Dylan Stewart Uranium has played a leading role in driving the Namibian mining industry, says audit, tax and advisory service provider KPMG Namibia senior partner Robert Grant. 

Zimbabwe diamond exports fell 34% in 2014 – official

By: Reuters Zimbabwe's diamond exports fell by 34% to 5.9-million carats last year from the eastern Marange region after a slump in production, a junior government minister said on Wednesday. The southern African nation is one of the world's top diamond-producing countries, and is believed to hold 25% of the... 

Lucara's Q1 earnings down on lower diamond sales, prices

By: Henry Lazenby Botswana-focused Lucara Diamond Corp has reported lower year-on-year adjusted earnings for the three months ended March 31, as lower diamond prices were compounded by slightly fewer carats sold. Excluding special items, the Vancouver-based miner reported adjusted earnings of $0.02 a share, down... 

Golden Saint recovers six more Tongo diamonds

By: Natasha Odendaal Following the green light from Sierra Leone National Minerals Agency, London-listed Golden Saint Resources has reported the recovery of several diamonds and gold at its Tongo deposit. As from April, six more diamonds – 2.77 ct, 1.82 ct, 1 ct, 0.8 ct, 0.53 ct and 0.325 ct – had been recovered from... 

De Beers buys stake in Swiss-based diamond cutting co

By: Natalie Greve Diamond stalwart De Beers has acquired a 33.4% stake in Swiss-based laser micro-jet (LMJ) technology provider Synova, supporting the diamond group's strategy of developing technologies that enhanced the long-term value of its primary product. Synova owned and supplied patented LMJ technology that... 

A premium should be placed on reputational risks to diamond sector – Debswana security chief

By: Ilan Solomons Buying diamonds is a highly discretionary procedure and their value depends entirely on peoples’ perception of their worth, Botswana-based diamond mining company Debswana security head Mpho Kewakae said during his presentation at business-to-business events organiser Fleming Gulf’s 2015 African... 

A premium should be placed on reputational risks to diamond sector – Debswana security chief
SECURING THE DIAMOND DREAM Debswana places a significant emphasis on security and governance assurance, as well as security systems and technical solutions

Stellar to hold second diamond auction

By: Megan van Wyngaardt West Africa-focused diamond development company Stellar Diamonds will sell up to 4 439 ct from trial mining at its Baoulé kimberlite project, in the Aredor area of Guinea, this month. The Aim-listed company on Thursday said the diamond auction would be held in Dubai and Antwerp through the... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

By: Henry Lazenby A new study has found that the cost to explore and build new mines is as much as 2.5 times higher in northern Canada, mainly as a result of a lack of critical infrastructure. The study, titled ‘Levelling the Playing Field’, found that the cost of mineral exploration and building and operating... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

Paragon to buy Lucara's Lesotho asset for $8.5m

By: Henry Lazenby Aim-listed precious gem explorer Paragon Diamonds will buy Botswana-focused Lurara Diamond Corp’s Mothae diamond project, in Lesotho, for $8.5-million in cash. The two companies on Monday announced that they had entered into a memorandum of understanding that would see Lucara sell, subject to... 

Zimbabwe suspends tax on diamond sales – letter to IMF

By: Reuters Zimbabwe has temporarily suspended a 15% tax on diamond sales, citing a drop in production and low international gem prices, the finance minister and central bank governor said in a letter to the International Monetary Fund (IMF). The southern African country last October ordered diamond mining... 

Lace mine on schedule for mid-year start-up

By: Megan van Wyngaardt The Lace diamond mine, in the Free State, was on track for mining operations to start in the second half of this year, Southern African diamond development and exploration company DiamondCorp reiterated on Thursday. In a project update, the dual-listed company noted that it had now drilled 3 321... 

Lace mine on schedule for mid-year start-up

World bourses prepare to confront diamond troubles at global gathering

By: Natalie Greve The presidents of World Federation of Diamond Bourses- (WFDB-) affiliated exchanges worldwide are making preparations ahead of the 2015 Presidents Meeting, which the federation believes will be one of the most important assemblies of its kind ever held, in light of the issues facing the global... 

World bourses prepare to confront diamond troubles at global gathering
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