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Diamonds News

First output from Lace mine due in H2 despite AMCU strike

By: Natalie Greve DiamondCorp’s developing Lace diamond mine, in the Free State, is likely to come into production in the second half of this year, despite a six-week strike by members of the Association of Mineworkers and Construction Union (AMCU) in October and November. Following the implementation of a revised... 

Anglo may record noncash impairment charges in price plunge parry

By: Martin Creamer Given the sharply lower commodity price environment, particularly for bulk commodities, Anglo American said on Wednesday that it expected to record noncash impairment charges in its 2014 results. The London- and Johannesburg-listed diversified major, headed by CEO Mark Cutifani, added in a media... 

Anglo may record noncash impairment charges in price plunge parry
Mark Cutifani

$12m MoU to boost Paragon’s Lemphane project

By: Megan van Wyngaardt To fund Stage 1 of its Lemphane Kimberlite pipe project, Aim-listed Paragon Diamonds has signed a memorandum of understanding (MoU) for a $12-million equity and debt financing package with investment group International Triangle General Trading (ITGT). The project, which is located in Lesotho... 

$12m MoU to boost Paragon’s Lemphane project

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Gem Diamonds warns of possible price softening in early 2015

By: Natalie Greve Gem Diamonds CEO Clifford Elphick has cautioned that a weakening of diamond prices in the fourth quarter of last year, following a year of price growth, could continue into the first quarter of 2015. The group said on Tuesday that the announcement of the closure of the Antwerp Diamond Bank (ADB)... 

Diamonds stolen from Prieska mine

By: Sapa Sixteen men stole an undisclosed number of diamonds from a mine near Prieska on Monday morning, Northern Cape police said. "This morning at about 03:40, about 16 men stormed into a local mine near Prieska," said Lt Olebogeng Tawana. 

Petra declares dividend, ups diamond production guidance

By: Martin Creamer London-listed South Africa-focused diamond-mining company Petra Diamonds, which on Monday declared its first dividend, has pushed up production guidance to 3.3-million carats for the year to June 30. Petra, which operates the Finsch, Cullinan, Koffiefontein and Kimberley Underground diamond mines... 

Petra declares dividend, ups diamond production guidance
Photo by Duane Daws
Johan Dippenaar

Scanners to combat diamond theft at Debswana mines

By: Ilan Solomons Botswana-based diamond mining company Debswana plans to soon start the R42.7-million installation of ten upright, full-body Scannex X-ray scanners at four of its diamond mines, in Botswana. Four scanners will be installed at security checkpoints at Jwaneng, four at Orapa and one each at the... 

Scanners to combat diamond theft at Debswana mines
DIAMOND DIGESTION Scannex is a full-body scanner with a low X-ray radiation dose that allows for quick scan time

Stellar raises £1m for Guinea project

By: Creamer Media Reporter Aim-listed Stellar Diamonds has raised about £1.03-million for its Baoulé trial mining project, in Guinea. The company had issued 88.36-million new shares at 1.16p each to directors, existing shareholders and new institutional shareholders to raise the funds. 

Low oil price expected to benefit diamond industry – De Beers

By: Martin Creamer The low oil price is expected to benefit the diamond business, De Beers CEO Philippe Mellier has told sightholders. At a reception in Botswana to mark the first 12 months of sightholder sales in Gaborone, Mellier outlined how the downwardly trending oil price could potentially turbocharge the... 

Low oil price expected to benefit diamond industry – De Beers
Philippe Mellier

Investors to blame for supporting dithering juniors

By: Henry Lazenby In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

Ministerial talk of a South African mining champion pleases analyst 

By: Martin Creamer Talk of restoring the lost iconic status of the South African mining industry has gladdened the London-based Investec Global Research Team. “We’re glad to see growing political pressure in South Africa to restore the premier status of the mining industry,” the analyst team said in a note on Friday. 

Ministerial talk of a South African mining champion pleases analyst
Photo by Duane Daws
Minerals Minister Ngoako Ramatlhodi

African mining producers play a key role on the world stage

African mines represent 65% of the world’s diamonds and as such, Africa is a senior partner in the global diamond industry, and based on this, opportunities to capitalise on the resources exist for countries such as Zimbabwe and other diamond producing countries. Nonprofit organisation World... 

African mining producers play a key role on the  world stage
Photo by Duane Daws
SUPPLY AND DEMAND There will be a medium- and long-term shortage of diamonds on a global scale as demand outstrips supply

Mining company signs MoU for Ghana gold, diamond concession development

Ghana-based mineral extraction company Great Consolidated Diamonds Ghana (GCDG) signed a memorandum of understanding (MoU) with process solutions provider Modular Process Technologies (MPT), in October, to develop its diamond and gold bearing mining concessions along the Birim river, in Ghana’s... 

Strong demand forecast for diamonds, but access to finance a concern

By: Sashnee Moodley The diamond industry can expect a strong demand outlook in future; however, access to diamond financing – especially for traders, cutters, polishers and jewellery manufacturers – could hinder future market growth. 

Rockwell boosts carat sales as recovery of large diamonds falters

By: Natasha Odendaal An increase in carat sales during the third quarter of the 2015 financial year has somewhat offset the lower recovery of large diamonds across the operations of TSX- and JSE-listed Rockwell Diamonds. Rockwell, which published its results for the three months to November on Tuesday, reported that... 

Rockwell boosts carat sales as recovery of large diamonds falters
Photo by Duane Daws
Rockwell CEO James Campbell

Rio Tinto to invest $500m in diamond project in India

By: Reuters Global mining company Rio Tinto plans to invest $500-million in a diamond project in India's Madhya Pradesh state, its Chief Executive Officer Sam Walsh said on Monday. The company is waiting for environment approvals from the Indian authorities before starting the project, Walsh told reporters. 

De Beers launches hub for entrepreneurs in Cape Town

By: Kim Cloete De Beers Consolidated Mines (DBCM) has launched the De Beers Marine Zimele Business Hub in Cape Town aimed at supporting entrepreneurs in a range of sectors. The hub is the company’s first in the Western Cape. DBCM partners with entrepreneurs through funding, mentoring and guidance and has hubs... 

De Beers launches hub for entrepreneurs in Cape Town
De Beers Consolidated Mines chairperson Barend Petersen

De Beers investing heavily in expanding production capacity

By: Megan van Wyngaardt International diamond giant De Beers is investing heavily in the improvement of its production capacity this year, committing “a great deal” of capital to major expansion projects at its existing operations and to developing new deposits. Speaking at an event on Tuesday, CEO Philipe Mellier said... 

De Beers investing heavily in expanding production capacity

Rockwell aquires R284m in assets

By: Megan van Wyngaardt Dual-listed diamond miner Rockwell Diamonds has entered a R284-million conditional agreement to acquire certain alluvial diamond properties and associated plant and equipment from Bondeo 140 CC, which it expects will drive its processing capacity above its 500 000 m3 a month target. “We know the... 

Rockwell aquires R284m in assets

Baoulé trial mining delivers 2 145 ct for Stellar

West Africa-focused diamond development company Stellar Diamonds on Tuesday reported that its Baoulé kimberlite pipe in Guinea has yielded 2 145 ct, to date, through trial mining. This included 138 diamonds greater than 1 ct and numerous gem diamonds larger than 5 ct and up to 9.2 ct. 

JV partners ink another IBA with First Nation for Gahcho Kué diamond project

By: Henry Lazenby Precious gems giant De Beers Canada and junior Mountain Province Diamonds (MPD) on Monday announced that they had signed an impact benefit agreement (IBA) with the Deninu Kué First Nation for the proposed Gahcho Kué diamond mine. The IBA put in place a framework for De Beers and the Deninu Kué... 

JV partners ink another IBA with First Nation for Gahcho Kué diamond project

Debate over Brazil’s new mining code shifting gears

By: Simon Rees After a knife-edge campaign Dilma Rousseff, leader of the left-wing Workers’ Party, was re-elected with just 51.6% of the vote in Brazil’s October elections. Much of the debate revolved around the country’s disappointing economic performance; Brazil’s gross domestic product (GDP) growth has been... 

Debate over Brazil’s new mining code shifting gears
Photo by Reuters
Brazilian president Dilma Rousseff

JV partners ink IBA with First Nation for Gahcho Kué diamond project

By: Henry Lazenby Precious gems giant De Beers Canada and junior Mountain Province Diamonds (MPD) on Monday announced that they had signed an impact benefit agreement (IBA) with the Northwest Territory Métis Nation (NWTMN) for the proposed Gahcho Kué diamond mine. The IBA put in place a framework for De Beers and... 

Despite sagging grades, prices, Rockwell Diamonds reports record Q3 revenue

By: Henry Lazenby Despite a 22% drop in grade, compounded by a 35% slide in realised prices, Southern Africa-focused diamond miner Rockwell Diamonds reported record diamond sales revenue of $15.8-million for the fiscal third quarter ended November 30, boosted by a 127% increase in carats sold. The... 

Despite sagging grades, prices, Rockwell Diamonds reports record Q3 revenue

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector 

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Dominion Diamond swings to Q3 profit

By: Henry Lazenby Canadian precious gem producer Dominion Diamond Corp late on Thursday reported a profit for the October quarter, boosted by higher-than-expected rough diamond output at the Diavik and Ekati mines, in the Northwest Territories. For its 2015 financial year's third quarter, Dominion reported a... 

Diamond demand to outstrip supply

By: Dylan Slater In the next decade, the demand for diamonds will be less than what the industry can supply through its current mining trends and available working mines, says diamond miner De Beers. 

Diamond demand to outstrip supply
THE DIAMOND DREAM De Beers’ diamond dream requires nurturing and protecting by implementing sound best practices throughout the diamond value chain to ensure its legacy is upheld

Expansion projects progressing well

By: Dylan Slater The C-Cut expansion project at diamond miner Petra Diamonds’ Gauteng-based Cullinan diamond mine is 50% complete in terms of the physical development work and the capital expenditure, the miner tells Mining Weekly. 

Expansion projects  progressing well
PURSUING GREATER DEPOSITS The Block 5 sublevel cave will start contributing ore from the second half of Petra Diamonds’ current financial year

Ghaghoo mine starts small

By: Dylan Slater Botswana’s newly established Ghaghoo diamond mine, owned and operated by London-listed Gem Diamonds, will be operated on a ‘small mine basis’ until the value of the resource is fully understood, Gem Diamonds tells Mining Weekly. 

Ghaghoo mine  starts small
GHAGHOO MINE The focus for Ghaghoo mine in 2015 is to ramp up production to mine and treat at a yearly rate of 720 000 t of ore, producing 210 000 ct of diamonds

Stellar secures sufficient funds for working needs until first diamond sales

By: Natasha Odendaal Aim-quoted Stellar Diamonds has secured financing for its immediate working capital needs as it ramps up diamond exports and sales from its Guinea operations. The West Africa-focused diamond development company exported the first diamonds from its 75%-owned Baoulé project this month. 

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