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Diamonds News

New ISO standard clarifies diamond labelling

By: Natasha Odendaal The new International Organisation for Standardisation (ISO) standard setting out the classification and providing clarity on the terms when buying and selling diamonds, treated diamonds and synthetic diamonds has been welcomed by industry bodies. ISO International Standard 18323: 2015 Jewellery... 

SA mineral riches traced to ancient volcanoes

By: News24Wire South Africa’s extensive bounty of valuable minerals can be traced to ancient super volcanoes, according to a researcher. “The super volcanoes of the past 2.7-billion years left us with something unique in the world – after all the drama, our part of the continent was full of diamonds and... 

Petra hikes FY output, pricing drags revenue 10%

By: Natasha Odendaal Despite “challenging operating conditions”, London-listed Petra Diamonds has achieved record production for the year to June 30, as output edged up 2% year-on-year to 3.2-million carats. However, flat diamond pricing and static sales weighed on the company’s revenue for the year under review,... 

De Beers has weak first half, looks forward to H2

By: Megan van Wyngaardt Diamond mining giant De Beers on Friday said that, despite a challenging first half, it still achieved a solid operating performance. However, its underlying earnings before interest and taxes (Ebit) decreased by 25% to $576-million for the six months ended June, compared with $765-million in the... 

Tech savvy O’Neill streaks up Anglo ladder

By: Martin Creamer Technical fundi Tony O’Neill, who put his imprimatur on game-changing technology during his short spell in South Africa, has been appointed with immediate effect to the board of Anglo American as an executive director, less than two years after taking over the company’s technology, business... 

Tech savvy O’Neill streaks up Anglo ladder
Photo by Duane Daws
Tony O'Neill

Diamcor sells 2 856 ct of incidentally found rough diamonds

By: Megan van Wyngaardt TSX-listed Diamcor Mining sold 2 856 ct of rough diamonds, generating $455 227 in revenue, in the quarter ended June 30. The recovery of these rough diamonds was incidental to the ongoing commissioning and testing exercises performed at the company’s Krone-Endora at Venetia project, in Limpopo,... 

De Beers, Namibia strike 10-yr diamond sorting deal

By: Natalie Greve The Namibian government and diamond miner De Beers on Tuesday announced the agreement, in principle, of the terms of a new ten-year sales agreement for the sorting, valuing and sales of all diamonds produced at the Namdeb and Debmarine operations, in Namibia. Once finalised, the agreement would... 

Kimberley gives go-ahead for Lerala

By: Esmarie Swanepoel The board of ASX-listed Kimberley Diamonds has approved the restart of mining activities at the Lerala mine, in Botswana, with some A$14.6-million to be spent on bringing the project into operational readiness. The miner told shareholders on Monday that a lump sum turnkey contract has now been... 

Lucara diamond sale yields $69m

By: Megan van Wyngaardt Lucara Diamond sold 1 674 ct valued at $68.71-million in its first exceptional stone tender of the year. The special tender of diamonds from its Karowe mine, in Botswana, was completed on Thursday and consisted of 14 single-stone lots. 

Lucara diamond sale yields $69m

Anglo to take up to $4bn impairment hit

By: Natasha Odendaal Mining giant Anglo American is preparing to take a $3-billion to $4-billion write-down for the first half of the year amid continued persistent price weakness and volatility of the bulk commodities, particularly iron-ore and metallurgical coal. The impairment followed a mid-year review of Anglo’s... 

Rockwell looks to future after tough first quarter

By: Henry Lazenby South Africa-focused Rockwell Diamonds is ready to deliver on its medium-term goals of building a sustainably profitable and integrated diamond business. This after the JSE- and TSX-listed miner on Tuesday reported that it had emerged from a tough first quarter ended May 31, which saw it record a... 

Rockwell looks to future after tough first quarter

Paragon enters purchase agreement for Lucara’s Lesotho asset

By: Natasha Odendaal Aim-listed diamond development company Paragon Diamonds has entered into a legally binding share purchase agreement with Lucara Diamond Corp for the $8.5-million buy-out of its interest in the Lesotho-based Mothae kimberlite resource. Paragon would acquire Lucara's 75% stake in the Mothae... 

De Beers invites bids for aqua farm in Limpopo

By: Martin Creamer Diamond company De Beers is inviting bids for the construction and operation of an aquaculture farm in Limpopo province, where it has the large Venetia diamond mine. The Anglo American group company wants qualified parties to submit expressions of interest in the venture, which will be sited at... 

De Beers invites bids for aqua farm in Limpopo

Firestone offloads Botswana assets to diamond newcomer

By: Natalie Greve Aim-listed Firestone Diamonds has inked a deal that will see it offloading its Botswana operations, including its interest in the BK11 mine, in the Orapa kimberlite field, to Toronto-listed Tango Mining – a new entrant in the Southern African diamond mining market – for $8-million. Firestone said... 

Gahcho Kué diamond mine construction progressing apace

By: Henry Lazenby Construction of the Gahcho Kué project, the world’s largest diamond mine currently under construction, located in Canada’s Northwest Territories, was 62% complete as at the end of May, project developer Mountain Province Diamonds reported on Tuesday. The Gahcho Kué Joint Venture (JV) was a... 

Botswana seeks bids to build solar plants for mines

By: Reuters Botswana's government launched a bidding process on Tuesday to construct solar power plants near its huge Jwaneng diamond mine and for the nation's northwest, where copper assets are being developed. "This invitation ... is a request for expression of interest to construct, operate, maintain and... 

Botswana seeks bids to build solar plants for mines

NUM opposes the sale of Kimberley Mines

By: African News Agency The National Union of Mineworkers (NUM) was totally opposed to the sale of the Kimberley Mines by De Beers Consolidated Mines (DBCM) in Kimberley, the union said on Monday. Acting NUM spokesperson Livhuwani Mammburu said De Beers announced in September last year that it was always looking into... 

DiamondCorp raises £5m in oversubscribed offer

By: Natasha Odendaal Dual-listed DiamondCorp on Monday said its oversubscribed open offer had raised £5.27-million. The Southern Africa-focused diamond development, exploration and mining company last month issued an open offer for nearly 21-million new ordinary shares to eligible shareholders at 10p apiece. 

DiamondCorp raises £5m in oversubscribed offer

Kimberley Diamonds closes WA diamond mine

By: Esmarie Swanepoel Operations at the Ellendale diamond mine – the home of rare fancy yellow diamonds in Western Australia – have been suspended, and owner Kimberley Diamonds has called in administrators to the subsidiary holding the mining licence. The company said on Thursday that lower recovered grades and... 

Kimberley Diamonds closes WA diamond mine

Work with govt to simplify mining policy – Rossouw

By: Martin Creamer The time had come for the private sector to start making it clear that it wished to work with government to simplify mining policy and collaborate towards less regulation and greater implementation. “Step up and get involved in providing meaningful information and honest comment,” thought leader... 

Work with govt to simplify mining policy – Rossouw
Photo by Duane Daws
Mike Rossouw

Kimberley Diamonds secures debt finance for Botswana mine

By: Creamer Media Reporter Junior diamond firm Kimberley Diamonds has secured a A$10-million loan from China-based auction house Zhejiang Huitong Auction, which it intends to use for the recommissioning of its Lerala diamond mine, in Botswana. The ASX-listed company has received the first A$5-million of the loan and will... 

New fleet arrives to scale up Lucapa’s diamond operations in Angola

By: Creamer Media Reporter The first new earthmoving equipment has arrived at Lucapa Diamond Company’s Lulo concession, in Angola. The new fleet, sourced from Caterpillar dealer Barloworld Equipment in Luanda, would enable Lucapa and its partners to double alluvial diamond mining operations at Lulo to 20 000 bulk cubic... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

Rio Tinto to sell stakes in Zim diamond, coal assets

By: Creamer Media Reporter Diversified major Rio Tinto has sold a 78% stake in Murowa Diamonds and a 50% stake in Sengwa Colliery to RZ Murowa Holdings. Independent Zimbabwean mining company RioZim, which owned the balance of the two assets, would assume overall management of both assets. 

Rockwell to focus on production profile as Saxendrift output decreases

By: Megan van Wyngaardt As dual-listed Rockwell Diamonds’ Saxendrift mine nears the end of its economic life, the miner will now focus on rebuilding the production profile at its existing Middle Orange River (MOR) operations, redeploying assets to newly acquired operations and expediting work on development projects.... 

First production at Lesotho diamond mine to be delayed – Firestone

By: Creamer Media Reporter Adverse weather conditions and increased overburden at the Liqhobong mine development project, in Lesotho, have led to a R156-million increase in costs, Aim-listed developer Firestone Diamonds said on Tuesday. The diamond company further revealed that production would now only start in the fourth... 

Paragon raises £500 000, may initiate share buyback

By: Creamer Media Reporter Aim-listed Paragon Diamonds has raised £500 000 of unsecured debt financing from an investment company that may be used for a share buyback programme. The funding would also be used for short-term working capital requirements, while Paragon progresses the acquisition of the Mothae diamond... 

DiamondCorp offers 21m shares to raise £2m

By: Natasha Odendaal JSE- and Aim-listed DiamondCorp planned to offer a further 20.9-million ordinary shares to eligible shareholders at 10p apiece to raise around £2-million. The non-underwritten open offer was on the basis of one share for every 17 existing ordinary shares held in the Southern African-focused... 

Diamond industry in the midst of ‘complicated’ times – Blom

By: Megan van Wyngaardt Falling profitability, declining bank credit, synthetic stones, overgrading and generic diamond marketing were challenging the sustainability of the global diamond industry, World Federation of Diamond Bourses (WFDB) president Ernie Blom said on Monday. Speaking at the 2015 Presidents Meeting in... 

Diamond miners show potential as 4 declare dividends in last year

By: Henry Lazenby Diamond miners were finally showing showing their potential, with 80% of independent diamond miners having declared their first-ever dividend within the last 12 months, independent industry analyst and consultant Paul Zimnisky said on Friday. That meant that four out of five pure-play publicly... 

Diamond miners show potential as 4 declare dividends in last year
Photo by Reuters
Uncut diamonds from Southern Africa and Canada are seen at De Beers headquarters in London.

‘Transitional’ Petra targets FY revenue of $430m

By: Natalie Greve Describing itself as in “a transitional period”, Petra Diamonds on Friday said it expected its revenue for the full year to be around $430-million, owing to variability in its product mix The diamond miner further noted that it expected to meet its initial full-year production target of... 

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