R/€ = 15.96 Change: -0.59
R/$ = 14.17 Change: -0.59
Au 1325.30 $/oz Change: -15.47
Pt 1081.50 $/oz Change: -26.00

Diamonds News

Lucara to invest $30m on more XRT diamond recovery units

By: Creamer Media Reporter      24th August 2016 Vancouver-based Lucara Diamond Corp will install four more X-ray transmission (XRT) diamond recovery units at its Karowe mine, in Botswana, to process finer-size fractions. The new units, along with associated conveying and screening infrastructure, will target the recovery of diamonds in the 4... 

Diamcor launches C$5m financing

By: Henry Lazenby     23rd August 2016 South Africa-focused diamond project developer Diamcor has launched a C$5-million brokered private placement. Proceeds from the offering will be used for the acquisition of additional operational equipment and materials to support the continued advancement of the company's Krone-Endora at Venetia... 

India to assess if Bunder diamond mine viable after Rio’s exit

By: Bloomberg     23rd August 2016 A day after Rio Tinto announced plans to shut the Bunder diamond mine in central India, the Mines Ministry said it will analyse if mining at the site is viable because of environmental concerns. The deposit is located in an ecologically sensitive zone and it’s not clear if the mine can be... 

Billionaire Wiese sees opportunity to combine diamond mines

By: Bloomberg     23rd August 2016 Christo Wiese, South Africa’s richest man, sees opportunities to consolidate diamond operations in the region after buying a stake in a Cape Town-based miner of the precious stones. Wiese, 74, has always been “fascinated’’ by diamonds and saw good value in  Trans Hex Group Ltd., he said in an... 

Billionaire Wiese sees opportunity to combine diamond mines
Photo by Bloomberg
Christo Wiese

Debmarine’s new offshore diamond exploration vessel in final construction phase

By: Natasha Odendaal     22nd August 2016 The final phase in the construction of marine diamond mining giant Debmarine Namibia’s new diamond exploration and sampling vessel is now under way after its arrival in Cape Town last week. The critical integration phase is now under way to have the purpose-designed, 113-m-long offshore SS Nujoma... 

Stellar, Octea to combine assets into major Sierra Leone diamond development

By: Natasha Odendaal     22nd August 2016 Aim-listed Stellar Diamonds has entered into a potential deal that will see its Tongo kimberlite diamond project, in Sierra Leone, merged with Octea Mining’s adjacent Tonguma kimberlite diamond project to form a single 250 000 ct/y mining operation. The move, which will effectively establish West... 

Rio Tinto to close Bunder diamond project in India to cut costs

By: Bloomberg     22nd August 2016 More than a decade since its discovery, Rio Tinto said Monday it will shut its Bunder diamond mine in central India by the end of the year, as the world’s second-biggest miner seeks to cut costs and conserve cash. Bunder remains a top-class diamond deposit and Rio Tinto will work with the... 

Stellar suspends trade pending potential transaction announcement

By: Creamer Media Reporter      19th August 2016 Trading in London-listed Stellar Diamonds’ shares has been suspended pending the announcement of a potential transaction, classified as a reverse takeover under the Aim rules. The West Africa-focused diamond development company said on Friday it would make more information available in due... 

No mining sector without geology

     19th August 2016 Mining development is one of the main areas where geoscience directly contributes to a country’s economy, with Africa expected to supply a significant portion of the world’s future mineral resources through the application of various scientific approaches, states the local organising committee... 

No mining sector without geology
ABERRA MOGESSIE The professor says geological, geochemical and geophysical investigations form the foundation for successful exploration activities

Gem Diamonds pleased with interim results

By: Megan van Wyngaardt     17th August 2016 Aim-listed Gem Diamonds achieved solid earnings before interest, taxes, depreciation and amortisation (Ebitda) of $43.5-million in the six months ended June 30. “This reflects careful cost management and capital discipline. It is also encouraging to see that the capital projects implemented at... 

De Beers stakes its reputation on spotting the difference 

By: Reuters     17th August 2016 In nature it takes billions of years to produce a diamond, or a laboratory can grow one in days and to the untrained eye, it looks the same. For De Beers, telling the difference is fundamental to protecting its reputation as the world's leading diamond firm by value and holder of a roughly 30... 

Alrosa recovers 136.24 ct diamond in Russia

By: Henry Lazenby     15th August 2016 Russian mining major Alrosa has recovered a formidable 136.24 ct diamond from the Nyurbinskaya kimberlite pipe, in Yakutia, Russia, the company revealed on Monday. The gem-quality rough diamond, which is classified as a 3 Black Makeable 1 Сolour, measured 29.32 × 23.88 × 21.9 mm and wis one of... 

De Beers lines up new senior VPs for sightholder sales, product planning

By: Natasha Odendaal     12th August 2016 Diamond giant De Beers on Friday announced the appointment of Bernard Bradley as new senior VP of sightholder sales, succeeding Nigel Simson, who moves into the new role of senior VP of product planning at the Global Sightholder Sales business, in Botswana. The new product planning function is... 

Wits mining school in push to improve teaching, learning effectiveness

By: Dylan Slater     12th August 2016 One of Johannesburg-based University of the Witwatersrand (Wits) School of Mining Engineering’s primary strategic initiatives, in its endeavour to become a top mining school in the world, is to improve teaching and learning effectiveness.  

ASA Resources reports strong Q1 gold, diamond sales

By: Megan van Wyngaardt     11th August 2016 Multicommodity miner ASA Resources recorded a strong quarter to June 30, with gold sales up 2% quarter-on-quarter to 14 463 oz and diamond sales up 74% quarter-on-quarter to 30 888 ct. The Aim-listed company attributed the growth in gold sales to higher head grade at its Freda Rebecca operation,... 

Lace mine back on track after two-week suspension

By: Natasha Odendaal     10th August 2016 Commercial mining at the Lace diamond mine has achieved the planned rate of 30 000 t/m from the first block on the 310 m level of the upper K4 (UK4) block after a successful production restart last month, Aim- and JSE-listed DiamondCorp said on Wednesday. The Free State-based operation will... 

Lace mine back on track after two-week suspension

Construction continues ahead of schedule, budget as Stornoway ramps up Renard

By: Henry Lazenby     10th August 2016 Quebec-based diamond project developer Stornoway Diamond reported after market close on Tuesday that the Renard project remained ahead of schedule and on budget, according to the revised development plan. The Montreal-based company advised that it had to date spent or committed 88% of the budget,... 

South Africa’s richest man buys stake in diamond miner Trans Hex

By: Bloomberg     8th August 2016 Christo Wiese, South Africa’s richest man, has formed a consortium of investors who plan to take control of Trans Hex Group, a diamond miner based in Cape Town. Cream Magenta 140 Proprietary Ltd. and Metcap 14 Proprietary Ltd., both backed by the Wiese family, bought a 47% stake in the company... 

South Africa’s richest man buys stake in diamond miner Trans Hex

Lucara leaves door open to another auction for whopper diamond

By: Bloomberg     8th August 2016 Lucara Diamonds, which failed to sell the biggest diamond found in more than a century through a public auction, may go under the hammer again. “We’re not discounting going back to the auction process in some form in the future,” William Lamb, CEO of the Vancouver-based miner, told Bloomberg TV... 

Trading in Trans Hex shares halted pending announcement

     5th August 2016 Diamond miner Trans Hex has had its securities on the JSE halted with immediate effect. The company advised that the trade halt would be lifted following the publication, in due course, of a detailed announcement. 

Peregrine completes drilling programme at Botswana-based mine

By: Samantha Herbst     5th August 2016 TSX-listed diamond explorer Peregrine Diamonds has completed core drilling on three kimberlite and two exploration targets at its 100%-owned Sikwane project, in south-eastern Botswana’s Kgatleng’s district The company advised on Thursday that the drilling programme had successfully intersected... 

Lucara ends H1 with $211m cash balance

By: Creamer Media Reporter      5th August 2016 The consistent recovery and sale of high-quality stones from its Karowe mine, in Botswana, has provided Lucara Diamond Corporation with a significant cash balance of $210.8-million as at June 30, compared with the $74-million cash balance at the end of the six months to June 2015. During the... 

Lucara ends H1 with $211m cash balance
Lucara's Karowe mine

July recoveries surpass all expectations at Lucapa’s Lulo mine

By: Natasha Odendaal     4th August 2016 ASX-listed Lucapa Diamond Company on Thursday reported record diamond recoveries in July – significantly ahead of internal forecasts and market guidance – at its Lulo diamond project, in Angola. Some 59 special diamond recoveries in excess of 10.8 ct – more than the 53 achieved during the first... 

Anglo American starts production at Canadian Gahcho Kué mine

By: Henry Lazenby     3rd August 2016 Global mining major Anglo American has started production at its Gahcho Kué diamond mine, located in Canada’s Northwest Territories, saying it expects the operation to reach full commercial production early in 2017, the company said on Wednesday. With a total capital price tag of about... 

Anglo American starts production at Canadian Gahcho Kué mine

De Beers sells $520m of diamonds in sixth sales cycle

By: Creamer Media Reporter      2nd August 2016 The sixth rough diamond sales cycle of 2016 has netted diamond giant De Beers about $520-million. This is lower than the $564-million of sales recorded in the fifth sales cycle of the year. 

Creamer Media publishes Africa Mining Projects in Progress 2016 - First Edition

     1st August 2016 This edition of Creamer Media’s Africa Mining Projects in Progress 2016 (First Edition) reviews recently announced scoping, prefeasibility and definitive/bankable feasibility studies on projects across the continent, as well as the projects that are under way. 

Creamer Media publishes Africa Mining Projects in Progress 2016 - First Edition

Firestone Diamonds again extends deadline for Botswana asset sale

By: Creamer Media Reporter      29th July 2016 Aim-listed Firestone Diamonds has again extended the date by which all conditions for the disposal of its Botswana operations to TSX-V-listed Tango Mining must be met to August 29. The previous deadline was July 29. 

Pangolin Diamonds kicks off new kimberlite exploration project in Botswana

By: African News Agency      29th July 2016 Canadian gem miner Pangolin Diamonds Corporation has announced the commencement of a new drilling programme targeting five potential kimberlite mineralisation areas within the Motloutse Diamond Project in south-central Botswana. In a cautionary notice issued to shareholders on July 26, company... 

Industry growth in hands of junior explorers

By: Kimberley Smuts     29th July 2016 Diamond exploration enquiries received by mining industry consultancy The MSA Group from small players in Botswana, Lesotho and the Free State have increased considerably since May this year. This includes greenfield kimberlite indicator mineral testing, alluvial diamond mineral resource... 

Industry growth in hands of  junior explorers
NEED FOR NEW PROJECTS The diamond industry urgently needs to find new mines, as the supply-demand gap will widen from 2019 onwards and, consequently, drive price increases

Large-diameter drilling at Orapa project may start at year-end

By: Kimberley Smuts     29th July 2016 Exploration company Tsodilo Resources aims to extract between 2 000 t and 3 000 t of kimberlite from BK16, potentially one of the last economic kimberlite pipes in the Orapa kimberlite province in Botswana, during a large-diameter drilling (LDD) programme in the fourth quarter of the year. The... 

Large-diameter drilling at Orapa project may start at year-end
BETTER TREATMENT The dense medium seperator plantat Tsodilo's Orapa project is scheduled for an upgrade in the third quarter of this year

Project targets millennial diamond consumers

By: Kimberley Smuts     29th July 2016 International diamond mining organisation the Diamond Producers Association (DPA) is working on a project aimed at tackling the generic marketing of diamonds to attract standard and millennial consumers, otherwise known as the ‘Y’ generation. Rough and polished diamonds trader Blom Diamonds owner... 

Project targets millennial diamond consumers
Photo by Bloomberg
MARKETING MATTERS The diamond industry is undertaking the first catefory marketing campaign in over five years

De Beers recovers from tough H2

By: Natasha Odendaal     28th July 2016 Diamond miner De Beers recovered during the first half of the year after hitting a rough patch in the last six months of 2015. The company posted a pleasing financial performance after the diamond market stabilised and growth in demand for rough diamonds emerged, said De Beers strategy and... 

Resources Watch  

     28th July 2016 Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry. This week: De Beers partners with government to empower youth in diamond sector Local company outlines aspirations, challenges bigger players And,... 

Resources Watch
Resources Watch

$125m capital loan to strengthen Botswana diamond cutting and polishing industry

By: African News Agency      27th July 2016 The US government has guaranteed a $125-million loan that will be used to strengthen Botswana’s localised diamond cutting and polishing industries in order to create more jobs and contribute to economic growth. In a statement released on Tuesday, US overseas development financier Overseas Private... 

DiamondCorp gets DMR nod for Lace mining resumption

By: Natasha Odendaal     26th July 2016 JSE-listed DiamondCorp has resumed mining operations at its Lace diamond mine after receiving the go-ahead from the Department of Mineral Resources (DMR). The diamond mining, development and exploration company halted operations just over a week ago to have miners’ assistants undertake refresher... 

Debmarine Namibia acquires N$2.3bn diamond exploration vessel

By: Megan van Wyngaardt     25th July 2016 Namibia-based marine diamond mining giant Debmarine Namibia on Monday took ownership of the SS Nujoma, the sixth ship in its fleet of diamond mining and exploration vessels, from Norwegian shipbuilder Kleven Verft. The 113-m-long ship was built in Norway and will embark on its maiden voyage for... 

Debmarine Namibia acquires N$2.3bn diamond exploration vessel

Petra to reach five-million-carat target earlier than expected

By: Creamer Media Reporter      25th July 2016 Following a year of strong growth and record production, Petra Diamonds now expects to reach its five-million-carat-a-year production target in the 2018 financial year – a year sooner than previously anticipated. Petra produced 3.7-million carats in the year ended June 30, a 16% increase on the... 

Petra to reach five-million-carat target earlier than expected
Photo by Duane Daws
Petra CEO Johan Dippenaar

Subdued diamond production hits Botswana cutting and polishing firms

By: African News Agency      22nd July 2016 The Botswana government says the value of rough diamonds supplied to local cutting and polishing firms dropped by nearly half in 2015 due to subdued local production and reduced demand in the global market. Addressing parliament on the progress of local diamond beneficiation on Thursday,... 

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