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Diamonds News

Mining Indaba intensely focused on driving capital into African mining 

By: Martin Creamer     11th October 2018 An investment pavilion will be introduced at the upcoming Investing in African Mining Indaba to drive capital into African mining with even greater intensity, MD Alex Grose said on Thursday. Speaking to Mining Weekly Online during a media roundtable, Grose also revealed that more time would be... 

Plea for govt to awaken to massive economic potential of mining 

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

Plea for govt to awaken to massive economic potential of mining
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer on South Africa’s massive mining opportunity loss. Video, Video Editing and Photographs: Christo Greyling.

Dollar shortage 'short-term problem' for miners in Zimbabwe – Minister

By: Reuters     10th October 2018 A dollar shortage that has sparked outrage from mining companies operating in Zimbabwe is a "short-term problem" that will be remedied by a stronger economy, the mines minister told Reuters. Zimbabwe is suffering acute shortages of US dollars, deterring foreign capital from helping the ailing... 

RioZim to sue central bank over dollar payments

By: Reuters     9th October 2018 Zimbabwe's gold miner RioZim on Tuesday said it would take legal action to force the central bank to pay it in US dollars for part of its output, signalling impatience by mining companies over acute dollar shortages afflicting the economy. The shortages have worsened since 2016 and are the... 

Alrosa finds 28.59ct yellow diamond

By: Creamer Media Reporter      8th October 2018 Russian diamond miner Alrosa subsidiary AlmazyAnabara has extracted a large 28.59-ct rough diamond of deep greenish-yellow hue – its largest yellow rough diamond for the year. The diamond was discovered at Ebelyakh placer deposit in July. 

Chinese delegation to witness proudly South African logging system 

By: Martin Creamer     8th October 2018 The high-ranking delegation from China, which is due to arrive in South Africa next Monday to undertake a three-week study of South Africa’s globally recognised mineral reporting codes, will be given insight during their visit into a South African borehole logging system that is poised to go... 

Chinese delegation to witness proudly South African logging system
Samcodes Standards Committee chairperson Matt Mullins interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

BlueRock seeks to improve Kareevlei profitability with proposed upgrades

By: Creamer Media Reporter      8th October 2018 Aim-listed BlueRock Diamonds will, subject to funding, invest in further improvements at its mining operation, plant and necessary personnel at the Kareevlei diamond mine, in the Northern Cape, to increase the capacity and efficiency of the operation. The proposed investment is expected to... 

Alrosa reports record throughput at Almazy Anabara unit

By: Creamer Media Reporter      5th October 2018 Almazy Anabara, a subsidiary of Russian State-miner Alrosa, has exceeded its production target by 9%, delivering a record mining throughput in the 2018 washing season, with 5.4-million carats having been minded. The 2018 washing season lasted from May to September. 

Manufacturer focuses on developing larger vibrating screening equipment

By: Donald Makhafola     5th October 2018 Screening machines are becoming larger and heavier because the ongoing trend in the mining industry globally is to increase tonnage output while maintaining efficiency, said original-equipment supplier and manufacturer of custom-designed vibrating equipment Kwatani CEO Kim Schoepflin at Electra... 

Manufacturer focuses on developing larger vibrating screening equipment
BEAST Kwatani chose South African national rugby player Tendai 'Beast' Mtawarira as its brand ambassador for these larger screen machines

DBCM, partners invest R27m in upgrading primary school near Voorspoed mine

By: Creamer Media Reporter      4th October 2018 De Beers Group has, through its De Beers Fund, partnered with the Free State Department of Education and Kagiso Shanduka Trust (KST) to invest R27-million on the construction of a school in its labour sending area community of Maokeng, in Kroonstad. The construction of Phuleng primary school,... 

Botswana Diamonds, Vast firm up Marange concession development partnership

By: Tasneem Bulbulia     4th October 2018 Explorer Botswana Diamonds has concluded an agreement with mining and resource development company Vast Resources for the development of its concessions in the prolific Marange Diamond Fields (MDF) of eastern Zimbabwe.  A separate agreement will cover the joint development of diamond properties... 

Rio is hunting deals, discoveries for 'beautiful' diamonds unit

By: Bloomberg     4th October 2018 Two of the world’s top diamonds producers are both shopping for deals, with Rio Tinto following De Beers in hunting for projects to replace aging operations and position for an improving global market outlook. Rio is actively looking for more acquisitions after making a small investment in a... 

Stornoway announces C$129m financing package

By: Creamer Media Reporter      3rd October 2018 Quebec diamond miner Stornoway has announced a series of financing transactions, totalling $129-million, with lenders and key stakeholders to provide greater financial and operational flexibility. The financing package is made up of a deferral of certain loan principal repayments for a 24-month... 

Stornoway announces C$129m financing package
Stornoway CEO Matt Manson

Alrosa’s Hong Kong large diamond sale yields $10.7m

By: Mariaan Webb     2nd October 2018 Russia's Alrosa has sold 136 gem-quality diamonds, with a total weight of 2 234 ct, for $10.7-million at an auction in Hong Kong. The sale included 25 fancy yellow diamonds, weighing 440 ct. 

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Chinese delegation to study South Africa’s mineral codes
Photo by Creamer Media
Samcodes Standards Committee chairperson Matt Mullins

Rio unveils three large diamonds

By: Esmarie Iannucci     2nd October 2018 Diversified miner Rio Tinto and its joint venture partner Dominion Diamond Mines have revealed three of the finest large rough diamonds from the Diavik mine, in Canada, that will be up for tender, closing on October 25. Collectively known as the Diavik Stars of the Arctic, the three rough... 

Firestone recovers 835 000 ct in first full year of production

By: Marleny Arnoldi     28th September 2018 Aim-listed Firestone Diamonds has narrowed its loss a share to about $0.03 for the financial year ended June 30, compared with the loss a share of $0.37 in the prior comparable period. In the first full year of production at its Liqhobong mine, in Lesotho, the company’s loss decreased by 91% to... 

Excavators moving mountains in Lesotho

By: Halima Frost     28th September 2018 Contractor Basil Read’s mining division has added four new excavators from construction equipment manufacturer Hyundai to its fleet of mobile mining equipment. The excavators – a Hyundai R520LC-9S hydraulic crawler excavator, a Hyundai R850LC-9S tracked excavator, and two 22 T Hyundai R220LC-9S... 

Excavators moving mountains in Lesotho
UNEARTHING POTENTIAL Basil Read is using Hyundai R850LC-9S tracked excavators for a diamond operation in Lesotho

Stanbic Botswana secures $125m loan guaranty to support diamond sector

By: Tasneem Bulbulia     27th September 2018 Stanbic Bank Botswana, which is a member of Standard Bank Group, has, along with the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, and Botswana Finance, a subsidiary of Lazare Kaplan International, signed a $125-million loan guaranty, which... 

Free State has potential to host further commercial kimberlites – Botswana Diamonds

By: Simone Liedtke     25th September 2018 The Free State has the potential to host further commercial kimberlites, says Botswana Diamonds, referencing research in various archives into the history of diamond mining in South Africa. Following the initial document research work and ground truthing, Aim-listed Botswana Diamonds has since... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Ramaphosa moves to revitalise mining, create certainty
President Cyril Ramaphosa

Young generations push record diamond demand but require new approaches by industry

By: Rebecca Campbell     21st September 2018 The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its “Diamond Insight Report 2018”. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global... 

Focus turns to nonexplosives-based rock breaking as quest for safer, more-efficient mining intensifies

By: Dylan Slater     21st September 2018 The South African mining industry, once the backbone of economic growth, intensive job creation and development, is declining constantly, owing to the slow rates of research and development into newer, safer, modernised, mechanised and continuous mining methods. A key pillar of improving mining... 

Focus turns to nonexplosives-based rock breaking as quest for safer, more-efficient mining intensifies

Minergy lauds Botswana regulatory authorities

By: Martin Creamer     20th September 2018 Minergy CEO Andre Bojé is full of praise for Botswana’s regulatory authorities, who he says use legislation to assist mining investment. Minergy, which is listed on the Botswana Stock Exchange, has begun work on its maiden 390-million-tonne Masama, located in the Mmamabula coalfield, 50 km north... 

Minergy lauds Botswana regulatory authorities
Minergy CEO Andre Bojé

Kareevlei output rises 81% y/y in H1

By: Tasneem Bulbulia     20th September 2018 Diamond mining company BlueRock Diamonds has achieved an 81% increase year-on-year increase in production at its Kareevlei diamond mine, in the Kimberley region, to 73 028 t for the six months ended June 30. This represents an active period for the company, culminating in the restabilisation of... 

Lulo kimberlite investment contract gazetted

By: Tasneem Bulbulia     18th September 2018 Tphe Angolan Ministry of Mineral Resources and Petroleum has gazetted a new mineral investment contract for the Lulo kimberlite exploration licence, covering a five-year period through to April 30, 2023. Lucapa Diamond Company co-owns and operates the kimberlite  exploration programme on the... 

Botswana trims growth prospects, sees wider budget deficits

By: Reuters     18th September 2018 Botswana's economy is expected to expand by 4.5% this year, down from an estimate in February of 5.3%, the finance ministry said on Tuesday at a 2019 budget conference. A senior official in the diamond-producing southern African nation’s economy said the government expects an optimistic medium... 

Petra says owed $25m in VAT refunds by Tanzania

By: Reuters     17th September 2018 Petra Diamonds is owed about $25-million in value added tax (VAT) refunds by Tanzania, its chief executive said on Monday. "We are not getting paid at the moment. The historical figure owed is $16-million," CE Johan Dippenaar told Reuters in an interview, adding that current VAT is an additional... 

Petra lifts FY18 adjusted Ebitda, starts search for new CEO

By: Tasneem Bulbulia     17th September 2018 Diamond miner Petra Diamonds achieved a 37% year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $195.4-million for the financial year ended June 30. Its adjusted Ebitda margin improved to 39%, from 36% in the 2017 financial year. 

Petra lifts FY18 adjusted Ebitda, starts search for new CEO
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Premium Lulo diamonds to be sold under new Angola marketing system

By: Mariaan Webb     14th September 2018 ASX-listed Lucapa is preparing to sell its first diamonds from the Lucapa mine through the new marketing channels that Angola is establishing as part of the government’s diamond sector reforms. Certain large premium-valued diamonds will be the first Lulu production to be sold through the new... 

Tsodilo's Botswana kimberlite project produces 44 ct

By: Schalk Burger     14th September 2018 TSX-listed Tsodilo Resources’ BK16 kimberlite project, in the Orapa kimberlite field, in Botswana, has produced a third parcel of diamonds, comprising 279 diamonds weighing 43.95 ct, the company said in a statement on Thursday. The diamondiferous BK16 kimberlite pipe is about 6 ha in size at... 

Tango’s African diamond focus grows

By: Schalk Burger     14th September 2018 TSX-listed Africa-focused Tango Mining on Thursday reported production since January of 941 ct of high-value diamonds from its Oena diamond mine, in the Western Cape. It also reported on progress at further diamond exploration projects in Angola, Liberia and Botswana. 

Growing demand for synthetics not a threat to natural diamonds

By: Nadine James     14th September 2018 Although the global diamond market is currently worth about $87-billion, laboratory-grown diamonds only constitute 2% of that market, or $1.9-billion, says New York-based independent diamond analyst Paul Zimnisky. While the laboratory-grown diamond jewellery market is forecast to grow to about... 

Growing demand for synthetics not a threat to natural diamonds

De Beers wraps up Canada acquisition

By: Creamer Media Reporter      13th September 2018 Anglo America’s De Beers has completed the C$107-million acquisition of Peregrine Diamonds, with the TSX-listed company set to be delisted at the end of trading on Friday. The acquisition, announced in July, was approved by Peregrine securityholders on August 31 and by the Supreme Court of... 

Alrosa reports stable international demand for large diamonds

By: Creamer Media Reporter      13th September 2018 Diamond miner Alrosa has netted $15.6-million from the sale of special large diamonds at an international auction in Israel. A total of 2 611 ct of diamonds, all weighing more than 10.8 ct, were sold in 166 lots. 

Rising generations drive record diamond demand but require new approaches by industry

By: Rebecca Campbell     13th September 2018 The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its “Diamond Insight Report 2018”. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global... 

Rising generations drive record diamond demand but require new approaches by industry

Alrosa sales in 2019 to exceed production

By: Reuters     11th September 2018 Russian diamond miner Alrosa said on Tuesday that its sales next year would be one-million to two-million carats higher than its production in 2019, the RIA news agency cited Alexei Filippovsky, its CFO, as saying. Alrosa expects it production to be around 37.5-million to 38-million carats next... 

De Beers sales cycles delivering consistent value

By: Martin Creamer     11th September 2018 The global sightholder sales and auction sales of diamond company De Beers have this year continued to deliver consistent value, with the latest seventh sales cycle coming in at $505-million, a virtual carbon copy of the $507-million realised in the seventh sales cycle of last year. The steady... 

De Beers sales cycles delivering consistent value
De Beers Group CEO Bruce Cleaver
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