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Diamonds News

De Beers renews R57m Afrox contract

By: Megan van Wyngaardt Diamond miner De Beers Group has renewed gas and welding company Afrox’s R57-million contract for the supply of industrial and medical gases, welding consumables and bulk liquefied petroleum gas for the next five years. The contract came at a time when De Beers was investing R20-billion in... 

Company to release device to detect lab-grown diamonds

By: Bruce Montiea Gemmological services and technology developer and provider Diamond Services will in September unveil a mini Raman Spectrometer that can accurately detect high-pressure high-temperature (HPHT) and chemical vapour deposition lab-grown diamonds and HPHT colour-treated diamonds. “The mini Raman... 

Company to release  device to detect  lab-grown diamonds
TECHNOLOGICALLY ADVANCED The mini Raman Spectrometer is designed to provide diamond and jewellery companies with a high technological capability

New plasma pipe-cutting machine enters production

By: Bruce Montiea Specialist chromium carbide (CrC) long-life liners and components manufacturer Rio-Carb in June started producing pipes for the diamond mining industry using its new plasma pipe-cutting machine at its factory in Alberton, Ekurhuleni. Rio-Carb director Martin Maine tells Mining Weekly that the... 

New plasma pipe-cutting machine enters production
Rio-Carb director Martin Maine

Moody's sees wider budget deficit for Botswana

By: Reuters Botswana's projected 2.6% budget deficit for the 2015/16 financial year could turn out to be much wider due to the downturn in the diamond market, credit rating agency, Moody's said on Thursday. Diamonds account for almost 40% of Botswana's budgetary revenue and around 85% of exports in dollar... 

Moody's sees wider budget deficit for Botswana

June mining production up 4% y/y

By: Megan van Wyngaardt South Africa’s mining production rose 4% year-on-year in June, mainly owing to higher platinum-group metal (PGMs), manganese ore, diamonds and chromium ore production. Speaking to Mining Weekly Online, Statistics South Africa (Stats SA) deputy director-general of economic statistics Joe de Beer... 

June mining production up 4% y/y

EY’s Mining Eye index climbs for first time in a year

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index has gained 4% during the three months ended June, recording a gain for the first time since the second quarter of 2014, compared with a 1% decline in the first quarter. The index outperformed the S&P/TSX Composite index, which slipped 2%... 

EY’s Mining Eye index climbs for first time in a year

De Beers cuts diamond prices by up to 9% – Bloomberg

By: Reuters De Beers, the world's largest producer of rough diamonds by value, reduced prices for its diamonds by as much as 9%, Bloomberg reported, citing people familiar with the matter. De Beers, a unit of London-listed mining company Anglo American Plc, lowered prices after cuts to production failed to... 

Stellar to submit Tongo mining licence application in near future

By: Megan van Wyngaardt Aim-listed Stellar Diamonds has decided to proceed with the development of its Tongo kimberlite diamond project, in Sierra Leone, and continues to progress the compilation of an environmental- and social-impact study (ESIA) as part of the mining licence application process. The company’s decision... 

Lerala development will need expats – Kimberley

By: Esmarie Swanepoel ASX-listed Kimberley Diamonds' overall project schedule for the A$14.6-million Lerala diamond mine, in Botswana, remained on track, with diamond production to start in February next year. The company on Monday said that, while it would endeavour to source and employ local personnel, the Lerala... 

UN council blacklists Belgian branch of CAR diamond firm

By: Reuters The United Nations Security Council blacklisted on Thursday the Belgian branch of Central African Republic's (CAR's) diamond trading company and three people linked to the country's more than three-year-old conflict. The blacklisted diamond trading house is Kardiam, which UN sanctions experts say... 

UN council blacklists Belgian branch of CAR diamond firm

The roles of aviation in supporting mining

By: Keith Campbell Mining depends on infrastructure. So much so that mining companies sometimes have to build and operate their own railways, ports and power stations, in parts of the world in which such essentials are non-existent or woefully inadequate. And those parts of the world tend to be rather isolated or... 

The roles of aviation in supporting mining

Botswana cuts 2015 growth to 2.6% on falling diamond prices

By: Reuters Botswana halved its 2015 growth forecast due to expected weakness in the diamond market, the finance ministry said in a 2016/17 budget strategy paper on Thursday. The government now expects the economy of the world's biggest diamond producer to grow by 2.6% this year. In February, Finance... 

Botswana cuts 2015 growth to 2.6% on falling diamond prices

Karowe, Lucara’s gem, continues to deliver exceptional diamonds

By: Henry Lazenby Southern Africa-focused miner Lucara Diamond Corp has reported that its flagship Karowe mine continued to deliver according to expectations after recently recovering an enormous Type IIa, 336 ct diamond. In addition to recovering 184 ct, 94 ct and 86 ct diamonds over the past weekend, the... 

Stellar raises $330 000, rejigs capital structure

By: Natalie Greve London-listed Stellar Diamonds has raised $330 000 through the issue of a new unsecured convertible loan note to Germany-based investment group Deutsche Balaton, providing the West Africa-focused miner funding to advance development of a “significant” hard rock diamond mine from its portfolio of... 

Paragon gets Lesotho govt go-ahead for Mothae acquisition

By: Megan van Wyngaardt Aim-listed Paragon Diamonds has obtained the necessary formal approval from the Lesotho government to complete the $8.5-million acquisition of a 75% interest in, and operatorship of, the Mothae kimberlite resource from TSX-listed Lucara Diamond Corporation. Once the deal was concluded, Paragon... 

R50m mine design centre opens 

By: Martin Creamer The University of Pretoria’s new virtual and augmented reality mine design centre, which is set to revolutionise both surface and underground mine design, was officially opened on Tuesday evening. A total of R50-million has been invested in the centre, which has come out of a highly successful... 

R50m mine design centre opens
Inside the new mine design centre

Lace underground tunnel development slower than planned

By: Megan van Wyngaardt Underground tunnel development at Southern Africa-focused diamond developer DiamondCorp’s Lace diamond mine, in the Free State, is proceeding slower than planned, owing to fractured ground close to old workings; however, the development work in the Upper K4 (UK4) block remains close to schedule... 

Diamond mine expansions on track, within budget

By: Mia Breytenbach London-listed diamond mining group Petra Diamonds’ expansion programmes at its flagship Cullinan and Finsch diamond mines, in South Africa, remain on track and within budget, with development progressing well, states Petra Diamonds CEO Johan Dippenaar. Construction on the modern, fit-for-purpose... 

Diamond mine expansions on track, within budget
Photo by Petra Diamonds
ON SCHEDULE The C-Cut Phase 1 expansion plan at the Cullinan mine includes a new production level, which is being established at 833 m

Diamond plant optimisation nearing completion, sights set on exploration

By: Mia Breytenbach Southern Africa-focused precious gem producer Lucara Diamonds is finalising the optimisation of the newly integrated circuit as part of its flagship Botswana-based Karowe diamond mine’s plant optimisation project. Lucara president and CEO William Lamb tells Mining Weekly that Karowe’s optimised... 

Diamond plant optimisation nearing completion, sights  set on exploration
Photo by Lucara Diamond Corporation
SAMPLING ADDITION The modules of the modular bulk sample including the front end, the DMS, de-gritting and recovery, were pre-assembled off site to ensure that everything fits

Expansions, new mines needed to boost diamond supply

By: Mia Breytenbach The impending shortage of natural diamonds, with demand forecast to exceed supply within the next decade, is encouraging the establishment of new mines and the development of additional diamond projects, suggests World Federation of Diamond Bourses (WFDB) president and diamond polisher Ernest... 

Expansions,  new mines  needed to boost diamond supply
SHORT SUPPLY Although the diamond projects and expansions will create additional rough diamond supply in the short term, this supply may not meet eventual demand

Rough diamond price recovery expected in medium term

By: Mia Breytenbach While there is the expectation that rough diamond prices will potentially recover within the next six months, Southern Africa-focused diamond producer Lucara Diamond CEO William Lamb believes that the prices will recover only later, owing to the current estimated worldwide polished diamond... 

Rough diamond price recovery expected in medium term
Photo by Bloomberg
SPURRING ADVANCEMENT Several diamond cutters and polishers are adopting the latest technology, which contributes to maximising the value of the rough stones

Venetia underground expansion on track for 2021 first production

By: Mia Breytenbach Construction of the $2-billion underground extension of diamond miner De Beers Consolidated Mines (DBCM) South Africa’s Venetia mine is 18% complete, with the company having spent more than $250-million on the project to date, DBCM CEO Phillip Barton tells Mining Weekly. “We are making good... 

Venetia underground expansion on track for 2021 first production
Photo by De Beers Consolidated Mines
PROGRESSIVE DEVELOPMENT The current Venetia mine capital spend has been largely dedicated to site establishment and mining services infrastructure for the underground project

Inventory, liquidity headwinds dent Gem Diamonds’ H1 pricing

By: Natalie Greve High inventory levels and continued liquidity concerns, paired with global macroeconomic uncertainties, have continued to place pressure on the price of rough and polished diamond prices, denting the realised price of commercial stones recovered at Gem Diamonds’ Ghaghoo mine, in Botswana, for the... 

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... 

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