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Diamonds News

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

By: Creamer Media Reporter      Updated 12 minutes ago Capital considerations dominate the top three business risks in the mining and metals sector, according to professional services form EY’s latest ‘Top 10 business risks facing mining and metals 2016-2017’ report. “Much like our global counterparts, Canadian mining and metals companies are facing... 

Largest trommel designed by specialist delivered to site

By: Robyn Wilkinson     Updated 3 hours ago Pretoria-based vibration specialist Vipro Vibrating Products has delivered four large rotating drum-screens, or trommels, to a diamond mining project, in Gauteng, with commissioning scheduled to start next month. 

Largest trommel designed by specialist delivered to site
DOUBLE DUTY The trommels are used in pairs and are designed to accommodate double their usual load without failing

Liner monitoring product ‘very well received’ by S Africa

By: Robyn Wilkinson     Updated 3 hours ago Mining solutions manufacturer Multotec is rolling out a liner profile condition-monitoring service to customers in Africa, which uses its in-house-designed, highly accurate laser scanner, MultoScan, to offer significant cost-savings by improving the grind efficiency of mill 

Liner monitoring product ‘very well received’ by S Africa
PREDICTIVE MILL MANAGEMENT MultoScan enables grinding mill operators to implement predictive liner replacement scheduling

Mining Indaba opens door for more emerging miners to participate

By: Mia Breytenbach     Updated 3 hours ago The Investing in African Mining Indaba has “recreated a platform for the emerging or smaller miner to participate at a palatable price point”, says outgoing Mining Indaba MD Jonathan Moore. Mining Indaba in June announced price reductions of up to 50% for mining corporates, as many companies had... 

Mining Indaba opens door for more emerging miners to participate
Photo by Duane Daws
NEW STEERING Jonathan Moore, who has led the Mining Indaba for nine years, will be succeeded by new Mining Indaba MD Alex Grose as from October 10

Not all diamonds enjoy recovery as budget stones get left behind

By: Bloomberg     29th September 2016 The recovery in diamond prices is leaving out the smallest and lowest-quality gems. For the smallest diamonds, prices are down 15% this year, data compiled by Bloomberg show. That compares with an average 7% increase for all stones yet to be cut and polished. The overall market is recovering... 

Firestone Diamonds one step away from completing Lesotho diamond mine

By: Megan van Wyngaardt     28th September 2016 Aim-listed Firestone Diamonds has “one more item” left before its one-million-carat-a-year Liqhobong project, in Lesotho, enters production in the fourth quarter. During a media briefing, in Johannesburg, on Wednesday, CEO Stuart Brown said the company had around 90 000 t of ore stockpiled and... 

Firestone Diamonds one step away from completing Lesotho diamond mine
Photo by Duane Daws
Firestone CEO Stuart Brown

Project house DRA appoints new CEO

By: Martin Creamer     28th September 2016 Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

Project house DRA appoints new CEO
New DRA CEO Wray Carvelas

Regional integration key to bolster local diamond industry, beneficiation 

By: Megan van Wyngaardt     28th September 2016 The importance of regional integration within the Southern African Development Community as a means to advance the region’s diamonds industry was a recurring topic at the South African Diamond Indaba, held in Midrand earlier this week, with industry stalwarts, such as De Beers Consolidated Mines... 

Regional integration key to bolster local diamond industry, beneficiation
De Beers Consolidated Mines CEO Philip Barton and State Diamond Trader CEO Futhi Mvelase talk about the need for Southern African countries to collaborate to grow the region's diamond sector. Video: Nicholas Boyd; Editing: Lionel da Silva

Lucapa and partners sell Lulo diamonds for $4.1m

By: Creamer Media Reporter      28th September 2016 Australia-based Lucapa Diamond Company and its partners in the Lulo mine have netted $4.1-million from the sale of diamonds recovered at the Angolan mine. The parcel of 2 209 ct of Lulo diamonds sold at an average sales price of $1 868/ct, 40%-owner Lucapa said in a statement on Wednesday. 

Ghana's gold output up 38.6% at 1.99 Moz in first half

By: Reuters     28th September 2016 Ghana's gold output rose 38.6% in the first half of 2016 to 1.99-million ounces from 1.44-million ounces a year ago, boosted mainly by new mining operations, the Ghana Chamber of Mines said on Tuesday. Africa's second-largest gold miner after South Africa earned $2.43-billion from gold in the... 

Illegal mining out of control – Mine Rescue Services

By: Natasha Odendaal     27th September 2016 A surge in the number of mine rescues and recoveries at abandoned and disused operations is an indication that the illegal mining scourge is starting to spiral out of control, and the recorded incidents are just the tip of the iceberg. The Chamber of Mines and Mine Rescue Services (MRS) on... 

Illegal mining out of control – Mine Rescue Services
Photo by Duane Daws
Mine Rescue Services CEO Christo de Klerk

South Africa’s diamond industry could learn from Belgium tax regime – Blom

By: Megan van Wyngaardt     27th September 2016 South Africa needs a fair and logical diamond tax regime that is aligned with international standards, as well as a business environment that encourages local beneficiators to buy and produce quality diamonds. Speaking at the yearly Diamond Indaba in Midrand, World Federation of Diamond Bourses... 

South Africa’s diamond industry could learn from Belgium tax regime – Blom
Photo by Duane Daws
Ernie Blom

Diamcor achieves further diamond sale successes in Q2

By: Henry Lazenby     26th September 2016 South Africa-focused project developer Diamcor Mining sold 8 274.47 ct of diamonds in the second quarter ended September 30. Two tenders were held during the quarter, raising proceeds of $1.17-million or $141.03/ct. 

Only a few steps needed for South Africa to reach beneficiation goals, says De Beers exec

By: Megan van Wyngaardt     26th September 2016 South Africa can reach the goals set out in Vision 2026, which aims to promote the diamond beneficiation industry in South Africa, by implementing a “couple of simple steps”, De Beers senior sightholder sales VP Mpumi Zikalala said on Monday. Addressing delegates during a panel discussion at the... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’
Randgold CEO Dr Mark Bristow (centre) with host country management at the Loulo gold mine

At 50, Botswana discovers diamonds are not forever

By: Reuters     26th September 2016 When David Magang opened Botswana's first domestic law firm shortly after independence in 1966, he and his country were starting from scratch. Since then, both he and the former British protectorate, which celebrates its fiftieth birthday this week, have travelled a huge distance based largely on... 

State Diamond Trader launches enterprise development programme to support entrepreneurs

By: Megan van Wyngaardt     26th September 2016 The State Diamond Trader (SDT) on Monday launched an enterprise development programme to assist entrepreneurs in the diamond industry. Launched during the second South African Diamond Indaba, in Midrand, SDT chairperson Mervyn Carstens said the initiative would develop young people through a... 

State Diamond Trader launches enterprise development programme to support entrepreneurs
Photo by Duane Daws
SDT chairperson Mervyn Carstens

Angola's Lulo mine delivers its fifth 100-ct-plus diamond for 2016

By: Mariaan Webb     26th September 2016 The Lulo mine, which Australian miner Lucapa owns in conjunction with Angola’s State-owned miner Endiama and Rosas & Petalas, has delivered its fifth diamond weighing more than 100 ct for the year, this time producing a 172.67 ct diamond. The diamond was recovered from ongoing alluvial mining... 

Govt, industry must join hands to restart South Africa’s diamond beneficiation industry

By: Megan van Wyngaardt     26th September 2016 While government is aiming to re-establish the local diamond beneficiation industry by 2026, Mineral Resources Deputy Minister Godfrey Oliphant believes this can be achieved much earlier. The cutting and polishing industry suffered a major blow last year, when the last, biggest diamond cutting... 

Govt, industry must join hands to restart South Africa’s diamond beneficiation industry
Photo by Duane Daws
Mineral Resources Deputy Minister Godfrey Oliphant

Rockwell in ‘state of despair’, new CEO steers operational turnaround 

By: Henry Lazenby     23rd September 2016 South Africa-focused alluvial diamond miner Rockwell Diamonds is in a “state of despair”, its incoming chief executive said on Thursday, adding that the company will implement a comprehensive operational turnaround. “From my observations to date on the general health of the business and... 

Rockwell in ‘state of despair’, new CEO steers operational turnaround
Incoming Rockwell CEO Tjaart Willemse

Investor confidence ‘concerning’, key to industry growth

By: Aarifah Nosarka     23rd September 2016 The South African mining sector needs policies that recognise the type of investment that mining demands and which reduce the risks related to investing in long-term projects to encourage investment in the sector, says Chamber of Mines (CoM) CEO Roger Baxter. He tells Mining Weekly that the... 

Investor confidence ‘concerning’, key to  industry growth
RESILIENT INDUSTRY The mining industry is the foundation on which South Africa’s industrial development was built and continues to contribute significantly to the country’s economy

De Beers, partner officially open Gahcho Kué mine

By: Creamer Media Reporter      21st September 2016 De Beers and its joint venture partner Mountain Province Diamonds have officially opened the Gahcho Kué diamond mine, in Canada, which will produce about 54-million carats of rough diamonds over its 12-year mine life. Gahcho Kué is the world’s largest new diamond mine to have been developed in... 

De Beers, partner officially open Gahcho Kué mine

Lulo delivers another exceptional stone

By: Esmarie Swanepoel     21st September 2016 The Lulo diamond mine, in Angola, has delivered another exceptional stone for owner Lucapa Diamond Company. Lucapa on Wednesday reported that a 104 ct diamond had been recovered from the alluvial mining operation. 

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

South African gold and diamond miners shine, base metals face slow recovery

By: African News Agency      20th September 2016 Moody’s Investors Service on Tuesday said South African gold and diamond miners’ credit quality had good prospects to continue strengthening. Moody’s assistant VP Douglas Rowlings said the gold and diamond miners that the agency rated in South Africa had already re-set their operations to... 

Petra sees solid performance for 2016, to build production in year ahead

By: Megan van Wyngaardt     19th September 2016 Southern Africa-focused miner Petra Diamonds expects its production for the 2017 financial year to rise to between 4.4-million and 4.6-million carats, before reaching its long-term target of five-million carats in 2018, a year earlier than expected, and rising further to about 5.3-million carats... 

Kimberley Process aims to enhance diamond valuation techniques

By: Dylan Slater     16th September 2016 Three Special Forums are due to take place at the end of the month, in conjunction with the Antwerp World Diamond Conference (AWDC) in Belgium, as part of certification scheme the Kimberley Process’s initiative to improve rough diamond valuation.  

Kimberley Process aims to enhance diamond valuation techniques
Photo by Duane Daws
DIAMOND FOCUS Special Forums to be held in September aim to enhance dialogue, thereby formalising rough diamond valuation

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Policy environment failing South African mining – professor
Photo by Duane Daws
Southern African Institute of Mining and Metallurgy mineral economics division chairperson Professor Michael Solomon

Campbell resigns as Rockwell CEO; Menell also to step down

By: Creamer Media Reporter      13th September 2016 James Campbell has resigned as CEO of TSX- and JSE-listed Rockwell Diamonds and will hand over the reins to newly appointed executive officer Tjaart Willemse following a structured transfer by the end of November. Campbell will remain a director of the company, while Willemse will assume... 

Campbell resigns as Rockwell CEO; Menell also to step down
Photo by Duane Daws
Rockwell outgoing CEO James Campbell

Mining needs disruptive digital change, Electra Mining conference hears

By: Martin Creamer     12th September 2016 The mining industry, which has a past of intervening with key technologies at critical times, is currently at an important leverage point that requires disruptive change. Envisaged is that disruptive change will be supported by the interaction of people, process and technology and definitely not... 

Mining needs disruptive digital change, Electra Mining conference hears
Photo by Duane Daws
Telstra Mining Services head Jeanette McGill

Sale of Firestone Diamonds’ Botswana asset to Tango lapses

By: Natasha Odendaal     12th September 2016 Aim-listed Firestone Diamonds will continue to seek shareholder value for its Botswana assets after its $8-million disposal to potential buyer Canadian diversified junior miner Tango Mining fell through. The diamond development company on Monday said Tango had been unable to meet the conditions... 

Shefa Yamim prepares for London IPO, commercial mine in Israel

By: Reuters     12th September 2016 Shefa Yamim, the only Israeli miner for precious stones, has signed with a brokerage firm in London to pursue an initial public offering to raise up to $10-million as it plans a possible expansion of its operations in northern Israel. Shefa Yamim, already listed in Tel Aviv, said on Monday the... 

Merlin restart set for October

By: Esmarie Swanepoel     12th September 2016 ASX-listed Merlin Diamonds has revealed plans to restart its Merlin diamond mine, in the Northern Territory, in October. The junior said on Monday that the decision to restart operations followed approval from the Department of Mines and Energy for the mining plan. 

Merlin restart set for October

Anglo American’s Gahcho Kué to provide C$6.7bn boost to Canadian economy

By: Henry Lazenby     9th September 2016 A new report by professional services firm EY has calculated that the world’s largest new diamond mine under construction in Canada’s Northwest Territories (NWT), Gahcho Kué, will provide a C$6.7-billion boost to the Canadian economy. “Diamonds are perhaps one of Canada’s best kept secrets, yet,... 

Anglo American’s Gahcho Kué to provide C$6.7bn boost to Canadian economy

Diamond demand liftoff hindered by China crackdown, group says

By: Bloomberg     8th September 2016 Diamond sales growth isn’t expected to accelerate any time soon as demand from China continues to slump, according to the president of the World Diamond Council. Global polished diamond sales used in jewelry will increase 4% a year until at least 2019, according to Andrey Polyakov, who is also a... 

Lucapa eyes Aim listing, to hunt for new diamond assets in Africa

By: Esmarie Swanepoel     8th September 2016 ASX-listed diamond miner Lucapa has flagged plans for a possible listing on the London Aim exchange, as well as plans for further project acquisitions. The company is looking to build on the success achieved at its Lulo mine, in Angola, where it recovered a 38.6 ct pink diamond this week,... 

Lucapa eyes Aim listing, to hunt for new diamond assets in Africa
Lucapa MD Stephen Wetherall

BlueRock may buy Diacar processing plant for R1.6m

By: Creamer Media Reporter      7th September 2016 Junior miner BlueRock Diamonds has secured the option to buy Diacar’s processing plant, which is located at BlueRock’s Kareevlei mine, in the Northern Cape, for R1.6-million. Diacar has been operating the Diacar plant at the Kareevlei mine since November 2015 under a subcontracting agreement for... 

Lulo diamonds sell for $4.4m – Lucapa

By: Creamer Media Reporter      6th September 2016 The latest sale of alluvial diamonds from the Lulo project, in Angola, has netted $4.4-million, Australia-headquartered Lucapa Diamonds reported on Tuesday. The parcel of 3 642 ct included a 28.5 ct light pink diamond and fetched an average price of $1 212/ct. 

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