http://www.miningweekly.com
R/€ = 14.08 Change: 0.01
R/$ = 13.12 Change: 0.03
Au 1284.55 $/oz Change: -2.09
Pt 972.50 $/oz Change: -3.50
 

Diamonds News

Rockwell seeks move to TSX-V listing

By: Megan van Wyngaardt     21st April 2017 Embattled Rockwell Diamonds, which earlier this week filed for business rescue, on Friday said it would seek to move its listing from the TSX to the TSX-V, owing to its current market capitalisation. The company said its shares on the TSX and JSE would remain halted while there remains... 

De Beers receives conservation award

By: David Oliveira     21st April 2017 Diamond mining company De Beers Consolidated Mines (DBCM) received the biodiversity and social responsibility award last month for its approach to ecological management at the Wildlife Ranching South Africa awards, which took place at The Ranch in Polokwane, Limpopo. The company received the... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can he no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012 that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, as against India’s 7.6%, the... 

Despite slower growth, China still key market for miners and Africa

Alrosa reduces diamond inventory, new CEO meets clients

By: Reuters     20th April 2017 Russian diamond miner Alrosa reduced its inventory sharply in the first quarter but kept its 2017 production forecast unchanged, the company said on Thursday, as its chief executive met clients to discuss the new contract period. The state-controlled Russian firm is the world's largest producer... 

Wealth gap leaves Ivorians craving share of 'economic miracle'

By: Bloomberg     20th April 2017 Standing knee-deep in muddy water to sift gravel in oppressive heat, a handful of middle-aged miners search for diamonds, clinging to what seems like a dying trade in a region with few job opportunities. “It’s unpredictable,” Pierre Silue, a 46-year-old miner wearing ragged clothes, said as he... 

Mugabe impatient over pace of mining reform

By: Reuters     18th April 2017 Zimbabwe's mining industry needs to be "reorganised" so that it contributes more towards the African country's economy, President Robert Mugabe said on Tuesday. Although he did not give details on what form the transformation would take, his government has, in recent years, pressured mining firms... 

Rockwell files for business rescue; will retain company operations in the interim

By: Mia Breytenbach     18th April 2017 Dual-listed alluvial diamond miner Rockwell Diamonds has filed for business rescue, which will ensure any liquidation order is automatically stayed. This follows after a judge in Kimberley on March 23 issued an interim liquidation order against subsidiaries Rockwell Resources RSA, HC van Wyk... 

Gem Diamonds appoints new chairperson

By: Mia Breytenbach     18th April 2017 Aim-listed Gem Diamonds has appointed Harry Kenyon-Slaney as its chairperson and an independent nonexecutive director, effective after June 6, succeeding Roger Davis, who will be stepping down. "I am delighted to be handing the chairmanship on to Kenyon-Slaney whose experience, knowledge and... 

Gem Diamonds appoints new chairperson
CEO Harry Kenyon-Slaney

Dominion Diamond's sales slump 21% in FY17

By: Henry Lazenby     14th April 2017 Canada’s largest diamond producer Dominion Diamond Corp has reported a 21% decrease in diamond sales for the 2017 financial year ended January, as a fire at its flagship Ekati mine, in the Northwest Territories, and lower-value output weighed on the bottom line. The Yellowknife-based producer,... 

Dominion Diamond's sales slump 21% in FY17

Economics of proposed agreement ‘very attractive’

     14th April 2017 If finalised, a tribute agreement between West Africa-focused diamond development company Stellar Diamonds and diamond mining company Octea Mining will see Stellar simultaneously mine both its wholly-owned Tongo project and the adjacent Tonguma project, in eastern Sierra Leone, with the company... 

Economics of proposed agreement ‘very attractive’
Photo by Reuters
POSSIBLE TRIBUTE AGREEMENT The agreement will allow Stellar to mine the Tonguma licence area alongside the company’s own Tongo project and process and sell any diamonds mined from these concessions

Lesotho diamond mine poised to start commercial production in June

By: Mia Breytenbach     14th April 2017 Aim-listed diamond development company Firestone Diamonds expects its Liqhobong diamond mine, in Lesotho, to reach commercial production at the end of June. Commissioning of the mine started in October 2016, with mine construction completed on time and within the $185.4-million budget. In a... 

Lesotho diamond mine poised to start commercial production in June
Photo by Firestone Diamonds
ATTAINABLE ACHIEVEMENT Nameplate capacity at the Liqhobong diamond mine has been achieved on multiple occasions and 402 440 t was treated up to December 31

BlueRock improves diamond recovery since upgrades

By: Megan van Wyngaardt     13th April 2017 Aim-listed BlueRock Diamonds on Thursday reported that since it restarted operations at its Kareevlei mine, recovered grade has been improving from an initial 1.53 carats per hundred tonnes (cpht) to the most recent results of 3.02 cpht. The company late last year embarked on a thorough overhaul... 

Lucapa posts solid growth in March quarter

By: Esmarie Swanepoel     13th April 2017 Diamond miner Lucapa Diamond Company has reported a 33% increase in production during the three months to March from its Lulo mine, in Angola. Plant throughput at Lulo increased by 91% during the quarter, compared with the previous corresponding period, to 70 967 bulk cubic metres, despite the... 

Sparkling diamond earrings seen fetching up to $70m at auction

By: Reuters     11th April 2017 Two dazzling pink and blue pear-shaped diamonds are together expected to fetch close to $70-million when they go under the hammer next month. Sotheby's said the Apollo and Artemis stones are "by far the most important pair of earrings ever offered at auction". They will be offered to buyers... 

Alrosa lifts March diamond sales 1% y/y

By: Henry Lazenby     11th April 2017 The global leader in rough diamond production, Russia’s Alrosa, has increased total diamond sales for March by 1% year-on-year to $566.6-million, as stable demand in most rough diamond categories buoyed prices. Rough diamond sales by Alrosa in March amounted to $554.2-million, with polished... 

Despite ramp-up delay, Diamcor reports improved tender results

By: Henry Lazenby     11th April 2017 South Africa-focused project developer Diamcor Mining has reported improved diamond tender sales despite the ramp-up to double output at the Krone-Endora at Venetia mine being dogged by operational and product delivery issues. The issues have pushed finalisation of the testing, commissioning and... 

Gem recovers 114 ct diamond

By: Megan van Wyngaardt     7th April 2017 Gem Diamonds has recovered a 114 ct, D colour type II diamond of exceptional quality from its Letšeng mine, in Lesotho. The Letšeng mine is known for producing large, top colour, exceptional white diamonds, making it the highest dollar-per-carat kimberlite diamond mine in the world. 

Despite its 2% share of WOD’s revenue, Russian group says Africa’s significance cannot be underestimated

By: Ilan Solomons     7th April 2017 Slightly less than 2% of Russian diamond mining and marketing group World of Diamonds’ (WOD’s) revenue is derived from Africa, and these relationships are maintained through partners’ offices in Mali and the Democratic Republic of Congo (DRC). WOD COO Ivan Gorchakov tells Mining Weekly that the... 

Tango Mining recovers nearly 308 ct of diamonds in March period

By: Natasha Odendaal     6th April 2017 TSX-V-listed Tango Mining has recovered 183 diamonds, equating to 307.94 ct, from its Oena diamond mine, in the Northern Cape, during the month to March 20. The Canadian diversified junior mining company sold the diamonds at an average price of $875/ct. 

Botswana Diamonds completes Phase 1 drilling at Vutomi

By: Megan van Wyngaardt     6th April 2017 Botswana Diamonds has completed the first phase of drilling at its flagship Vutomi project, in Frischgewaagt, in South Africa, where 34 percussion and nine diamond drill holes were drilled on the kimberlite dyke. The Aim-listed company on Thursday said samples have been submitted for microdiamond... 

Firestone Diamonds recovers 110 ct yellow diamond from Liqhobong

By: Natasha Odendaal     5th April 2017 Aim-listed Firestone Diamonds has recovered a 110 ct gem-quality light yellow diamond – its largest diamond recovered to date – from the Liqhobong mine, in Lesotho. The discovery was made during the mine’s ongoing ramp-up. 

Trading in Rockwell stocks halted pending outcome of liquidation hearing

By: Henry Lazenby     4th April 2017 Beleaguered alluvial diamond miner Rockwell Diamonds announced on Tuesday that it has applied to the JSE to voluntarily halt trading in its equity after the TSX suspended trading in its stock, pending a delisting review. The TSX has advised Rockwell that it will only consider the delisting review... 

Sotheby's sells record $71m diamond to Chow Tai Fook 

By: Bloomberg     4th April 2017 Hong Kong-based jewelry retailer Chow Tai Fook bought a 59.6 ct pink diamond for about $71-million, setting the world record for the top auction price for any gem. The stone has an unusual distinction: it has attracted even higher bids in the past. The jeweler made the HK$553-million winning bid... 

De Beers’ third sales cycle delivers $580m

By: Megan van Wyngaardt     4th April 2017 Diamond giant De Beers achieved a marginal increase in sales in the third sales cycle of this year to $580-million, from the $545-million in sales in the second sales cycle. “We saw the continuation of good rough diamond demand in the third cycle across the product range. This reflected positive... 

DiamondCorp to retrench Lace employees

By: Megan van Wyngaardt     3rd April 2017 Dual-listed DiamondCorp will on Monday start retrenching employees at its Lace diamond mine (LDM), near Kroonstad. Discussions between its business rescue practitioners (BRPs) and the Association of Mineworkers and Construction Union have terminated, without a settlement being reached on a... 

DiamondCorp to retrench Lace employees

Angola aims to attract major mining investor, develop local ones

By: Keith Campbell     31st March 2017 The copper/cobalt belt, known as the Central African Copperbelt, already well-known and exploited in Zambia and the Democratic Republic of Congo, also extends into Angola. This has been determined by surveying activities carried out under Angola’s National Geology Plan (known by the Portuguese... 

Argyle mine, Australia

By: Sheila Barradas     31st March 2017 A diamond mine located in the remote East Kimberley region of Western Australia. 

Argyle mine, Australia

Mining showing tentative improvement off low base – chamber

By: Martin Creamer     30th March 2017 The fourth quarter mining financial statistics data released by Statistics South Africa (Stats SA) confirm the tentative improvement in the sector’s financial conditions during 2016, but off a very low 2015 base and with huge swings in performance. In 2016 rand terms, mining’s profits before... 

Mining showing tentative improvement off low base – chamber
Photo by Duane Daws
Chamber of Mines economist Henk Langenhoven

Petra Diamonds issues $600m in notes

By: Megan van Wyngaardt     30th March 2017 To refinance its existing $300-million, 8.25% senior secured second lien notes, Petra Diamonds launched a $600-million notes issue on Thursday. Proceeds will also be used to repay all drawn bank facilities and for general corporate purposes. 

Pallinghurst turns $45m profit, upbeat on 2017, mulling options

By: Martin Creamer     29th March 2017 Diversified mining company Pallinghurst, which made $45-million profit in 2016, is upbeat on 2017. The Johannesburg Stock Exchange-listed company spoke of all three of its business platforms being well positioned for further growth and value-unlock. 

Pallinghurst turns $45m profit, upbeat on 2017, mulling options
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen and chairperson Brian Gilbertson at JSE listing ten years ago this year.

Anglo's new billionaire backer Agarwal says he's no activist

By: Bloomberg     29th March 2017 Anglo American’s new billionaire shareholder said he has no intention of behaving like an activist investor after surprising the mining industry by paying $2.5-billion for a 13% stake earlier this month. “At the moment, I’ve come in purely as an investor on my personal capacity and that is the... 

Anglo's new billionaire backer Agarwal says he's no activist
Photo by Bloomberg
Vedanta chairperson Anil Agarwal

Firestone narrows H1 loss, says Liqhobong on track for commercial production in June

By: Mia Breytenbach     28th March 2017 Aim-listed Firestone Diamonds, which on Tuesday posted a $4.1-million loss before tax for the six months to December 31, expects its Liqhobong diamond mine, in Lesotho, to reach commercial production at the end of June. Commissioning of the mine started in October 2016, with the mine construction... 

Firestone narrows H1 loss, says Liqhobong on track for commercial production in June
Photo by Duane Daws
Firestone Diamonds CEO Stuart Brown

Diamond industry’s famous hungry crocodile doesn't cut it

By: Bloomberg     28th March 2017 The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and... 

Dominion Diamond Corp mulls strategic transactions in wake of rejecting $1.1bn offer

By: Henry Lazenby     27th March 2017 Canada’s largest diamond producer Dominion Diamond Corp has launched a formal process to evaluate the potential sale of the company or other strategic transactions. This follows after Montana-based Washington Companies, a group of companies founded by industrialist and entrepreneur Dennis... 

Dominion Diamond Corp mulls strategic transactions in wake of rejecting $1.1bn offer
Photo by Dominion Diamonds
Dominion Diamond Corp's Ekati mine, Northwest Territires

Lucapa announces maiden Mothae resource estimate

By: Henry Lazenby     25th March 2017 ASX-listed Lucapa Diamonds has published a maiden Joint Ore Reserves Committee-compliant resource estimate for the Mothae kimberlite pipe, in Lesotho. The Mothae project is located about 5 km from Gem Diamonds’ Letšeng mine. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries

By: Henry Lazenby     25th March 2017 A judge in Kimberley, South Africa, has issued an interim liquidation order against three subsidiaries of TSX- and JSE-listed Rockwell Diamonds. The interim court order does not affect Rockwell Diamonds, the parent entity. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries
Photo by Rockwell Diamonds
Niewejaarskraal diamond mine, South Africa

Simplified processes, suitable technologies key to success – diamond miners told

By: Ilan Solomons     24th March 2017 Historically diamond plants were designed on the basis of process engineering excellence. However, this focused excessively on ensuring maximum diamond liberation and recovery, rather than on the defining of the optimal mix of technical and financial solutions. This is according to project... 

Simplified processes, suitable technologies key to success – diamond miners told
PERFECTING PLANT DESIGN AND PROCESSES Diamond miners need to design plants to ensure ‘business excellence’ by introducing appropriate modern technologies and simplifying workflow processes

Anglo says South Africa reorganisation adds sale flexibility

By: Bloomberg     22nd March 2017 Anglo American said its decision to split some South African assets into a different subsidiary gives it the “flexibility” to dispose of its iron ore and export thermal coal assets should it decide to do so. The split, which was partly announced in February without reasons being given, means that... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Company Announcements

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Close