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Diamonds News

Baoulé project a ‘company-maker’ for Stellar Diamonds

By: Natalie Greve The dense media separation (DMS) plant at Aim-listed Stellar Diamonds’ Baoulé kimberlite pipe project, in Guinea, has reached its target processing capacity of 50 t/h, the company said in an interim results statement for the six months ended December 31, on Friday. This comes after the diamond... 

Orapa diamond field to plug ‘clear’ supply gap, asserts explorer

By: Natalie Greve Diamond explorer Botswana Diamonds continued to advance second-phase exploration on three of its joint venture (JV) blocks in the Orapa area of Botswana, telling shareholders on Friday that the diamond industry continues to “glisten” in a resource sector depressed by weak demand. Chairperson John... 

Basil Read records R820m loss in challenging market

By: Megan van Wyngaardt A challenging construction sector, difficult contractual environment and poor operational performance have contributed to JSE-listed construction company Basil Read reporting an R820.9-million aftertax loss for the year ended December 31, 2014. “Lossmaking contracts across all construction... 

Basil Read records R820m loss in challenging market

Resources Watch

By: Creamer Media Reporter This week: De Beers says there are early signs of another good year for diamond jewellery in 2015. And, Horomela Investments hopes to get Northern Cape zinc, copper and lead prospecting rights by year-end. 

Resources Watch

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee

By: Martin Creamer South Africa should seize the current timely opportunity to amend its mining taxation in a manner that encourages foreign investment, stimulates prospecting, gets mining companies to start dealing with marginal mines and gives enough back to the fiscus for the benefit of this country's people,... 

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee
Muhammad Saloojee

Botswana Diamonds secures another exploration licence

By: Creamer Media Reporter The Botswana government has granted Atlas Minerals, a subsidiary of Aim-listed Botswana Diamonds, a new licence – PL 085. The licence area, which would be explored as part of Botswana Diamonds’ 50:50 joint venture (JV) with Russian diamond company Alrosa, covered 316 km2 and was located... 

Stellar raises $417 122 in maiden diamond auction

By: Natalie Greve London-listed Stellar Diamonds has raised $417 122 through the sale of the first batch of diamonds from its Baoulé mine in Guinea, offloading 4 414 ct during an auction in Antwerp, Belgium. The West Africa-focused diamond development company said the sale included “excellent quality” white... 

Early signs of another good year for diamond jewellery – De Beers

By: Martin Creamer Early signs that 2015 will be another positive year for the diamond industry are being given by Valentine’s Day demand in the US and Chinese New Year sales in China. De Beers strategy director Bruce Cleaver, who spoke to Creamer Media’s Mining Weekly Online in a video interview following 2014's... 

Early signs of another good year for diamond jewellery – De Beers
Photo by Darlene Creamer
Bruce Cleaver

Global diamond jewellery demand hits record $81bn

By: Martin Creamer Global demand for diamond jewellery grew 3% to a record $81-billion in 2014, De Beers said on Friday, while pointing out a slower last-quarter pace of growth across the luxury goods category in both the US and China, the biggest and second–biggest diamond-jewellery markets. De Beers diamond... 

Global diamond jewellery demand hits record $81bn
Photo by Duane Daws
Philippe Mellier

SA junior in partnership to reopen Ghana diamond mine

By: Zandile Mavuso South Africa-based junior miner Limoz Resources announced last week that it will be reopening the old Akwatia diamond mine in Ghana mid-year. 

Gem declares maiden 5c a share dividend on back of ‘solid’ year

By: Natalie Greve LSE-listed Gem Diamonds has announced a maiden dividend of 5c a share following a year in which the diamond producer lifted revenue 27% to $271-million and delivered a 57% jump in earnings a share to $0.24. Similarly, it posted a 35% increase underlying earnings before interest, taxes,... 

DiamondCorp subsidiary secures $7m in royalty financing

By: Creamer Media Reporter Lace Diamond Mines (LDM) has signed a term sheet with resource-focused investment management company Acrux Resources for $7-million in financing in exchange for a 3% net revenue royalty on the first 12-million carats to be recovered at the Lace underground mine, in the Free State. LDM, in which... 

Paragon seeks new asset as Lemphane nears production

By: Ilan Solomons As production at Aim-listed Paragon Diamonds’ Lemphane kimberlite pipe project, in Lesotho, remained on track to start in the second quarter of this year, the company has raised about £130 000 in new equity to fund a “critical” due diligence on a prospective diamond mine acquisition with... 

Paragon seeks new asset as Lemphane nears production

Firestone Diamonds progresses Lesotho mine construction

Africa-focused Firestone Diamonds narrowed its 2015 interim loss to $4.4-million, as its Liqhobong project, in Lesotho, moved into the construction phase in the six months ended December 31. The Aim-listed company on Thursday said construction on the $185.4-million project, which had started in... 

Zimbabwe says to merge all diamond mines under one company

By: Reuters Zimbabwe is planning to merge all diamond mining companies, including the local unit of Rio Tinto, into one big firm in which the State will own half of the shares, the minister of mines said on Thursday. President Robert Mugabe's government is pursuing a black economic-empowerment programme,... 

Rockwell to spend R4m on exploration this year

By: Megan van Wyngaardt An inferred mineral resource of 7.1-million cubic metres of Rooikoppie gravel at a grade of 0.9 ct per 100 m (cphm3) with an average value of $2 900/ct has been estimated at dual-listed Rockwell Diamonds’ Remhoogte operation, after historical, geological and field mapping data was re-evaluated.... 

Rockwell to spend R4m on exploration this year

Botswana Diamonds to intensify Orapa exploration

Aim-listed Botswana Diamonds, through its 50:50 joint venture with Russian diamond miner Alrosa, would spend $1-million this year on the exploration of its licence at Orapa, Botswana. The JV partners were aiming to discover major new kimberlites during the year. 

Botswana Diamonds to intensify Orapa exploration

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment

By: Henry Lazenby When the Quebec government’s Plan Nord to develop the parts of the province located north of the 49th parallel was launched under Jean Charest’s Quebec Liberal Party in May 2011, it was heralded as a timely and necessary act in the mining industry’s favourable economic context at the time. But a... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment
Photo by Reuters
Former Quebec Premier Jean Charest unveiled the Plan Nord on May 9, 2011.

Year-to date diamond prices soften for Trans Hex

By: Natalie Greve Year-to-date production at diamond producer Trans Hex’s South African operations reached 52 667 ct by the end of January, with 32 450 ct produced in the six months ended September 31 and 20 217 ct produced in the four-month period between October and the end of January. The group’s Somiluana... 

Canadian fed and Ontario govts unveil supports for mining industry

By: Henry Lazenby Several federal departments of the Canadian government, as well as the Ontario provincial government, unveiled new measures and investments on Sunday to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

Diamcor earnings drop 36% y/y

By: Megan van Wyngaardt TSX-listed Diamcor Mining sold 3 579 ct of rough diamonds in the third quarter ended December 31, generating gross revenue of C$886 843, averaging $221.96/ct. This was a 36% decrease on the 2013 comparative period in 2013, when the company reported selling 3 955 ct and gross revenue of... 

Mountain Province Diamonds starts C$95m rights offering to fund cost overrun facility

By: Henry Lazenby Junior project developer Mountain Province Diamonds (MPD) will undertake a C$95-million rights offering to fund a cost overrun facility, the arrangement for which is a condition precedent to drawing down its $370-million term loan facility. The TSX-V-listed firm, which is developing the Gahcho... 

Lucara Diamond Corp declares special dividend on strong 2014 performance

By: Henry Lazenby Southern Africa-focused precious gem producer Lucara Diamond Corp has rewarded shareholders with a special dividend after it reported strong 2014 earnings. The Vancouver-based miner, which operates its flagship Karowe mine, in Botswana, reported headline earnings a share of $0.24 for the year... 

Botswana still auspicious mining jurisdiction

By: Mia Breytenbach Having ranked consistently as one of the top mining jurisdictions in Africa, Botswana remains a favourable mining destination for investment – despite current infrastructure challenges and the global economic downturn, mining consultancy Core Consultants MD Lara Smith tells Mining Weekly. She... 

Botswana still auspicious mining jurisdiction
Photo by Reuters
AGAINST THE ODDS Botswana remains an auspicious mining destination, despite current infrastructure and macroeconomic challenges

Construction on Letlhakane tailings expansion to start soon

By: Mia Breytenbach Construction on Botswana-based diamond mining company Debswana’s Letlhakane tailings treatment plant expansion project is expected to start next month, with the facility scheduled to be handed over in the first quarter of 2017, Debswana head of corporate affairs Esther Kanaimba-Senai tells Mining... 

Construction on Letlhakane tailings  expansion to start soon
PILOT CONCEPT The Jwaneng modular tailings treatment plant is a first for Debswana in introducing and testing the modular concept in the group, with a possibility of implementing it at other operations

Diamond explorer shifts target focus areas, prioritises Orapa region

By: Mia Breytenbach Aim-listed diamond explorer Botswana Diamonds (BOD) has shifted its 2015 focus to three licence areas covering more than 1 000 km2 in the diamond province of Orapa, in Botswana. The three blocks currently receiving precedence comprise the PL206, PL207 and PL210 licence areas, BOD chairperson John... 

Diamond explorer shifts target focus areas,  prioritises Orapa region
FOCUS SHIFT Botswana Diamonds and Alrosa defined a new 2015 exploration programme for the PL206, PL207 and PL210 licence areas in the Orapa region in Botswana

Interest returns to known deposits, way paved for exploration

By: Mia Breytenbach The latest exploration boom in Botswana, although seemingly waning, has shifted the spotlight to several known deposits again, notes South African mining consultancy The MSA Group, stating that copper and nickel deposits were receiving particular attention. Recent high copper prices have resulted... 

Interest returns to known deposits, way paved for exploration
Photo by Bloomberg
RENEWED INTEREST Recent high copper prices have resulted in the potential economic feasibility of lower-grade copper deposits in Botswana

New block on iron play targeted

By: Mia Breytenbach Junior miner, and Toronto-listed, Tsodilo Resources has moved into the next phase of its flagship Xaudum Iron Formation (XIF) project’s exploration programme, targeting Block 2 of the resource. The block is located to the south of Block 1 and is a larger area than Block 1, for which the company... 

New block on iron  play targeted
EXPLORATION EVALUATION Tsodilo Resources has used the ground magnetic-intensity signature and inversion model, and drilling to locate areas of likely high-grade material at its Botswana iron play

Petra reports rise in H1 revenue, profit

By: Megan van Wyngaardt Southern Africa-focused diamond miner Petra Diamonds on Thursday reported a 16% increase in revenue to $214.8-million for the six months ended December 31, while its profit rose 21% to $92.9-million, owing to higher run-of-mine (RoM) output at its Finsch, Koffiefontein, Kimberley Underground and... 

DiamondCorp, AMCU sign four-year wage deal

Dual-listed DiamondCorp’s 74%-owned subsidiary Lace Diamond Mines, in the Free State, has signed a four-year wage agreement with the Association of Mineworkers and Construction Union (AMCU). The agreement set out yearly increases of 8% in employees’ basic salary for most categories, along with a... 

Mines are development engines for host countries – ICMM

By: Martin Creamer Mines are proven engines of economic development for host countries, which benefit significantly from the foreign direct investment (FDI) that mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country... 

Mines are development engines for host countries – ICMM
Photo by Creamer Media
Martin Creamer and Tony Hodge
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