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Diamonds News

Diamcor lifts Q1 sales volume, revenue

By: Henry Lazenby     Updated 5 hours ago South Africa-focused diamond producer Diamcor Mining has raised $1.9-million from three rough diamond tenders held during the fiscal first quarter ending June 30, the company reported Monday. The Vancouver-headquartered company that mines the Krone-Endora at Venetia mine, located directly next to... 

Kimberley Diamonds raises $4m to partly repay auction house

By: Samantha Herbst     24th June 2016 Australia’s Kimberley Diamonds has raised $4.02-million in capital, some of which has been used to partly repay China-based auction house Zhejiang Huitong Auction, which had previously lent the ASX-listed miner $13-million. Kimberley Diamonds placed about 40-million ordinary fully paid shares at... 

Construction almost complete at Rockwell Diamonds’ Wouterspan project

By: Mia Breytenbach     24th June 2016 Dual-listed Rockwell Diamonds reports that progress continues on the Wouterspan project near Douglas in the Northern Cape, which would see a new processing facility recommissioned this year. Construction is almost completed and commissioning scheduled to start in August. “Early-stage mining has,... 

Construction almost complete at  Rockwell Diamonds’ Wouterspan project
Photo by Duane Daws
JAMES CAMPBELL Our performance in the first quarter of fiscal 2017 is reflecting the effects of the improvements that we have been implementing

Embracing technology key to success of the mine of the future

By: Mia Breytenbach     24th June 2016 For mining to be part of the twenty-first century, it has to create a range of benefits as part of the business model, have access to realistic commodity pricing models and must embrace technology, says University of the Witwatersrand (Wits) Mining Institute director Professor Fred Cawood says.... 

Embracing technology key to success of the mine of the future
Photo by Bloomberg
FUTURE MINE The trends around key mining industry issues could lead to possible futures characterised by an African mining boom

The MSA Group

     24th June 2016 Local mining consultancy The MSA Group provides exploration, geology, mineral resource, mining and environmental consulting solutions to a client base that includes some of the world’s largest multinational mining companies, as well as private equity and sovereign wealth funds, banks, governments... 

The MSA Group

Dominion Diamond contains Ekati fire

By: Henry Lazenby     23rd June 2016 Canada's largest independent diamond producer Dominion Diamond Corp, which is also the third-largest producer globally by value, on Thursday advised that it had contained a fire that had broken out during a planned outage in the Ekati mine’s process plant. The Toronto-headquartered company, which... 

Gem International sees big diamond potential at Angola flagship

By: Henry Lazenby     23rd June 2016 Vancouver-based explorer Gem International Resource sees bonanza diamond potential at its flagship Dala project, in Angola, and is preparing plans for the immediate development of alluvial diamond deposits, followed with systematic exploration that would hopefully result in discovering... 

Gem International sees big diamond potential at Angola flagship

Call for bargaining council to protect workers amid mining accidents in Botswana 

By: African News Agency      23rd June 2016 The Botswana Mine Workers Union (BMWU) has urged the government to set up a bargaining council to safeguard the welfare of workers who suffer crippling and fatal injuries while working in the mines. The call came after one Bamangwato Concession Limited (BCL) worker suffered a broken hip bone... 

Stornoway starts mill commissioning two months ahead of plan

By: Henry Lazenby     22nd June 2016 Stornoway Diamond Corporation, the builder of Quebec’s only diamond mine, has started commissioning the Renard project’s plant two months ahead of schedule, the company advised on Wednesday. “The formal commencement of plant commissioning is a major milestone for the Renard project and our... 

Richland hikes Capricorn’s resources

By: Natasha Odendaal     22nd June 2016 Aim-listed Richland Resources on Wednesday posted an updated measured and inferred mineral resource of 115.5-million carats of sapphire and corundum at the Capricorn sapphire mine, in Queensland, Australia. The updated Joint Ore Reserves Committee- (Jorc-) compliant resource estimate comprised a... 

Private sector breathes life into Operation Phakisa

By: News24Wire      22nd June 2016 An initiative that saw three South African companies work together to successfully deliver two world-class marine vessels has been hailed as exemplary by the Department of Trade and Industry’s (dti) and the Department of Environmental Affairs (DEA). Damen Shipyards Cape Town (DSCT) recently... 

Liquidators claim $22.7m from Kimberley Diamonds

By: Mariaan Webb     22nd June 2016 ASX-listed Kimberley Diamonds confirmed on Wednesday that the liquidators of the Ellendale mine, in Western Australia, had launched a legal claim of $22.7-million against the company and three of its directors. The liquidators claimed alleged insolvent trading, alleged voidable transaction... 

Petra recovers 121.26 ct diamond at Cullinan

     21st June 2016 LSE-listed Petra Diamonds has recovered a 121.26 ct Type II white diamond at its Cullinan mine, in South Africa. The company noted that the diamond, which was of exceptional colour and clarity, would be sold in the last tender of the 2016 financial year. The tender, which was under way in... 

Mountain Province marches towards first production at Gahcho Kué

By: Henry Lazenby     20th June 2016 TSX- and Nasdaq-listed Mountain Province Diamonds expects to start diamond production at its flagship Gahcho Kué mine in the Northwest Territories sometime during the third quarter, having mechanically completed the primary crusher and progressing with commissioning activities of the process... 

Average capex overrun for mining companies hits 37% – EDC study

By: Simon Rees     20th June 2016 The average cost overrun for mining projects studied by Export Development Canada (EDC) has reached 37% over the capital expenditure (capex) budgeted, EDC managing principal Tin Lwin told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society in... 

Average capex overrun for mining companies hits 37% – EDC study

Zimbabwe State diamond miner produces 500 000 ct since March launch

By: Reuters     20th June 2016 Zimbabwe's new State-owned diamond miner has produced 513 000 ct since March when it started operations after the government ordered all mining companies to halt work in the Marange fields, its acting CEO said on Monday. The government on Feb 22 evicted all diamond mining firms in the Marange... 

Stornoway receives LNG in a first for Quebec’s Northern Plan

By: Henry Lazenby     17th June 2016 Stornoway Diamond Corp has received the first delivery of liquefied natural gas (LNG) to its Renard project, in Quebec’s far north, marking a significant milestone in the province’s Northern Plan to provide critical infrastructure for businesses to thrive in the province’s remote regions. The... 

SA’s Blom elected diamonds body chair for third consecutive term

By: Mia Breytenbach     17th June 2016 Following a unanimous vote at the thirty-seventh World Diamond Congress in Dubai, last month, the World Federation of Diamond Bourses (WFDB) announced changes to its executive committee, with President Ernie Blom re-elected to a third consecutive term. The WFDB, which has 30 affiliated bourse... 

SA’s Blom elected diamonds body chair  for third consecutive term
Photo by Duane Daws
ERNEST BLOM Blom will stand for a further two-year term as President of the World Federation of Diamond Bourses

Alrosa finds 241.21 ct whopper

By: Henry Lazenby     16th June 2016 The world’s largest diamond producer by volume, Russia’s Alrosa has recovered a 241.21 ct rough diamond from the Nyurbinskaya pipe. It is one of the largest rough diamonds recovered in the Russian Federation and the third largest among those found at the Nyurba mining and processing division, the... 

Rockwell lifts production 88% y/y in Q1

By: Mia Breytenbach     15th June 2016 Dual-listed Rockwell Diamonds produced 5 688 ct in the first quarter of the 2017 financial year, an 88% increase on the 3 025 ct produced in the first quarter of the prior financial year. This was also 20% higher than the 4 726 ct produced in the fourth quarter of the 2016 financial year. 

Rockwell lifts production 88% y/y in Q1
Photo by Duane Daws
Rockwell Diamonds CEO and president James Campbell

Diamonds are Putin’s best bet to entice wary investors to Russia

By: Bloomberg     15th June 2016 President Vladimir Putin is trying to woo foreign investors into the battered Russian economy by offering a chunk of the world’s biggest miner of diamonds. Russia needs cash to help fill a hole in its budget, the result of a collapse in revenue from plunging oil prices 

Diamonds are Putin’s best bet to entice wary investors to Russia

DiamondCorp nets R6.5m in run-of-mine diamond sales

By: Natasha Odendaal     14th June 2016 Dual-listed DiamondCorp has achieved its highest prices yet after selling two run-of-mine (RoM) diamond parcels ahead of a larger diamond tender in Antwerp planned for month-end. About 1 838 ct of RoM kimberlite diamonds and 1 679 ct tailings diamonds were bought by South African diamantaires at... 

DiamondCorp nets R6.5m in run-of-mine diamond sales
Lace diamond mine

Stellar completes trial mining evaluation at Baoulé

By: Anine Kilian     13th June 2016 Trial mining at Aim-listed Stellar Diamonds’ 75% owned, five-hectare Baoulé kimberlite pipe in Guinea has been completed ahead of schedule through the processing of over 100 000 t of kimberlite from the eastern and western lobes of the pipe.  Stellar announced on Monday that 11 000 ct had been... 

Big boost for South African mining as old Comro reopens  

By: Martin Creamer     13th June 2016 The revitalisation of the South African mining industry through the resuscitation of research and development (R&D) is under way as an outcome of the Mining Phakisa, a strategy forged by 120 government, company, union and nongovernmental participants, who last year spent five weeks working... 

Big boost for South African mining as old Comro reopens
Photo by Creamer Media
CSIR mining manager Navin Singh

Zimbabwe villagers displaced by diamond mining hope to see action from government

By: Reuters     13th June 2016 Villagers re-located to a sprawling government-owned farm complex in eastern Zimbabwe to make way for the nation's biggest diamond field are hoping that President Robert Mugabe's move to take control of the valued resource will benefit them. More than 1,000 families were moved in 2009 from a... 

Legal discretion dogging mine safety inquiries – Webber Wentzel 

By: Martin Creamer     10th June 2016 The only certainty about current enforcement of South Africa’s Mine Health and Safety Act is consistent uncertainty, says Webber Wentzel partner Kate Collier. Addressing a seminar on the way the Department of Mineral Resources (DMR) approaches senior mine management in the aftermath of serious... 

Legal discretion dogging mine safety inquiries – Webber Wentzel
Photo by Duane Daws
Webber Wentzel partner Kate Collier

Petra’s 24.18 ct Cullinan Dream sells for $25.37m

By: Creamer Media Reporter      10th June 2016 The 24.18 ct Cullinan Dream fancy intense blue diamond has sold for $25.37-million at auction. The diamond, which was auctioned off by Christie’s, in New York, on Thursday, had been expected to sell for between $23-million and $29-million. 

Petra’s 24.18 ct Cullinan Dream sells for $25.37m

Dominion beats fiscal Q1 forecasts despite lower sales, Misery production ahead of plan

By: Henry Lazenby     9th June 2016 The NYSE-quoted stock of Canadian diamond producer Dominion Diamond Corp on Thursday rose more than 7% to $11.64 apiece after the company late on Wednesday reported a net loss that beat analyst expectations. The Yellowknife, Northwest Territories-headquartered miner, which owns an 89%-stake in... 

Dominion beats fiscal Q1 forecasts despite lower sales, Misery production ahead of plan

Mining’s rebirth under way – Ritchken 

By: Martin Creamer     9th June 2016 New joint action is being brought to bear to arrest the devastating decline of the South African mining industry, which will involve the Mining Phakisa policy intervention seeking to boost the sector by positioning it as the centrepiece within a new, cohesive mining cluster that requires... 

Mining’s rebirth under way – Ritchken
Photo by Creamer Media
Mining Phakisa strategist Edwin Ritchken

Kimberley to sell first diamonds from Botswana mine

By: Mariaan Webb     8th June 2016 Australia’s Kimberley Diamonds said on Wednesday that it was preparing for its first sale of diamonds recovered from the newly operating Lerala mine, in Botswana. An online auction, conducted by DDA Trading, would be held on June 28 in Belgium. 

Construction of Quebec’s only diamond mine 96% complete

By: Henry Lazenby     7th June 2016 Construction of Quebec’s only diamond mine was at the end of May 96% complete, builder Stornoway Diamond Corp reported on Monday, stating that all critical path activities continued well within the planned schedule for first ore delivered to the plant by the end of September and commercial... 

Blom re-elected WFDB president, Israel’s Dvash appointed VP

By: Samantha Herbst     7th June 2016 The World Federation of Diamond Bourses (WFDB) has re-elected president Ernie Blom for a third consecutive term, though it decided to replace VP Julien Drybooms with Israeli Diamond Exchange President Yoram Dvash, following unanimous votes at the recent thirty-seventh World Diamond Congress, in... 

Blom re-elected WFDB president, Israel’s Dvash appointed VP
WFDB president Ernie Blom

Central African Republic to resume diamond exports after 3-year ban

By: Reuters     6th June 2016 Central African Republic will restart diamond exports three years after its stones were found to be funding armed groups in an inter-religious conflict and placed under embargo, the mines minister said on Monday. Central African Republic descended into chaos in March 2013 when predominantly... 

Expedite platinum fuel cells to boost economy – Deputy Minister 

By: Martin Creamer     6th June 2016 Deputy Minerals Minister Godfrey Oliphant has called for an acceleration of minerals beneficiation in general and the development of a platinum fuel cell economy in particular. Oliphant said that engagement with the platinum sector had taken place on one of its outputs, being the fuel cell,... 

Expedite platinum fuel cells to boost economy – Deputy Minister
Photo by Duane Daws
Deputy Minerals Minister Godfrey Oliphant

Diamonds are real and rare as well as forever, producers say

By: Reuters     3rd June 2016 International diamond producers on Friday unveiled a new marketing slogan "Real is Rare" to reach out to a younger generation of buyers, although major producer De Beers says diamonds will always be forever. For well over half a century, diamonds have been marketed under the De Beers slogan A... 

ANC in apparent Mining Charter reversal

By: Martin Creamer     3rd June 2016 The African National Congress (ANC) appears to have reversed its stance on the Mining Charter being enforceable under the Mineral and Petroleum Resources Development Act (MPRDA) of 2002, which is a major point of contention between the mining industry and government, as it confers legislative... 

ANC in apparent Mining Charter reversal
Photo by Duane Daws
Herbert Smith Freehills Africa partner Peter Leon

Diamcor achieves increased rough diamond sales in June quarter

By: Anine Kilian     3rd June 2016 TSX-V-listed Diamcor Mining, which operates the Krone-Endora at Venetia mine, in South Africa, has sold 7 821 ct of diamonds in the first two tenders held in the quarter to June 30, generating revenues of $951 631. This represented an average price of $121.67/ct. 

Diavik hits 100 Mct as Ekati development gathers pace

By: Henry Lazenby     3rd June 2016 Canada’s largest diamond mine has reached the significant milestone of producing 100-million carats of rough diamonds since the mine started in 2003. A 60/40 joint venture between mining major Rio Tinto and Canada’s Dominion Diamond Corp, Rio Tinto Diamonds, Salt & Uranium MD Simon Trott praises... 

Diavik hits 100 Mct  as Ekati development gathers pace
FUTURE DEVELOPMENT Ekati’s Jay pipe, an 85-million-carat reserve, currently in the feasibility study stage, is expected to come on line in 2020
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