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Diamonds News

Second-largest diamond ever recorded named 'our light'

By: Kim Cloete The second-largest diamond ever recovered has been named ‘Lesedi La Rona’ which means ‘Our Light’. The 1 100 ct diamond – about the size of a tennis ball - was discovered at the Karowe mine in Botswana last November. Over 10 000 people entered a competition to name the gem, either by e-mail or... 

Botswana's diamond exports down 38% y/y in 2015, seen recovering

By: Reuters Exports of diamonds mined in Botswana fell 38% to $2.4-billion last year from $3.9-billion in 2014, the southern African country's lowest shipment of gems in six years. Data published by the Bank of Botswana on Monday showed that the value of exports from the major diamond mines in Botswana have... 

Lucara to announce naming-contest winner of 1 100+ ct diamond

By: Henry Lazenby Lucara Diamond Corp will announce the winner of a naming contest for its 1 100+ ct diamond during simultaneous press conferences held in Gaborone and the African Mining Indaba conference, in Cape Town, on February 9. Open only to Botswana residents, the company had to date received more than 11... 

Two more large alluvial diamonds found at Lulo diamond project

By: Anine Kilian ASX-listed diamond miner Lucapa Diamond Company has discovered another two large, high-quality alluvial diamonds from Mining Block 6 at the company’s Lulo diamond project, in Angola.   Testing confirmed that both diamonds, which weighed 120.4 ct and 86.2 ct, were Type IIa gems. The 120.4 ct... 

Gem Diamonds ups cash, stops Ghaghoo haemorrhage

By: Martin Creamer Diamond-mining company Gem Diamonds ended the year with net cash of $55.3-million and an on-track dividend outlook. The London-listed Africa-focused company owns 70% of the Letšeng diamond mine in Lesotho, which is continuing to generate cash in the current testing market conditions, and 100% of... 

Gem Diamonds ups cash, stops Ghaghoo haemorrhage
Clifford Elphick

Global diamond output by value expected to shrink 10%

By: Henry Lazenby Despite efforts by diamond majors De Beers and Rio Tinto to curb global diamond supplies, lower output is forecast to be offset by stable Russian production, new mines, and production increases by Dominion Diamond Corp and Petra Diamonds, according to independent industry analyst and consultant... 

Global diamond output by value expected to shrink 10%

DiamondCorp founding director retires

By: Megan van Wyngaardt Dual-listed DiamondCorp has appointed Christopher Ellis independent nonexecutive director, effective February 1, following the retirement of Nick Allen. Together with CEO Paul Loudon, Allen was a founding director of DiamondCorp in March 2005. 

Crucial decision needed on empowerment levels

By: Nadine James An urgent court judgment needs to be made to determine the empowerment levels in South Africa’s mining industry, as this will most likely impact on the future alignment between the Department of Trade and Industry (DTI) codes and the Mining Charter, stresses Cliffe Dekker Hofmeyr director of... 

Crucial decision needed on empowerment levels
ALLAN REID Aligning the Mining Charter with the Department of Trade and Industry codes will be challenging, regardless of the Department of Mineral Resources' 12-month extension

Legal, illegal Mozambique rubies and legal Angola diamonds in the spotlight

By: Keith Campbell Mozambican mining company Montepuez Ruby Mining Limitada has made public its concerns about unfair competition by illegal miners. The company operates a ruby and corundum mine at Namanhumbir in the Montepuez district, which lies in the southern region of Cabo Delgado Province. It is 75%-owned by... 

Mining needs critical legal regulatory matters resolved

There will be many critical legal and regulatory issues facing the mining industry in 2016, says Chamber of Mines (CoM) legal head Lerato Legong. He claims that “one of the most important is going to be the review of the Mining Charter, which will likely lead to the development of the third... 

Mining needs critical legal regulatory matters resolved
Photo by Bloomberg
MOSEBEZI ZWANE The Chamber of Mines expects that the Mineral Resources Minister and his department will deal with a number of regulatory issues in the coming year

Proposed MPRDA amendments lack clarity

By: Nadine James While the proposed amendments to the Mineral and Petroleum Resources Development Act (MPRDA) contain positive aspects, in a broader sense, they are flawed, particularly in terms of the applications and appeals processes regarding mining rights, says Hogan Lovells partner and head of mining Warren... 

Proposed MPRDA amendments lack clarity
WARREN BEECH The amendments pertaining to appeals will adversely impact mining right applicants in terms of starting the process of securing operations funding and their contractual obligations

Anglo’s all-in 2015 production up despite stuttering South African inputs

By: Martin Creamer The 2015 full-year production of Anglo American increased by 5% on a copper equivalent basis, despite lower iron-ore and thermal coal contributions from South Africa and a flat performance by platinum. The London- and Johannesburg-listed diversified mining company said in a production report on... 

Anglo’s all-in 2015 production up despite stuttering South African inputs
Anglo's Goedehoop Colliery

Stellar’s Tongo mining application under review by Mineral Advisory Board

By: Natalie Greve Aim-listed Stellar Diamonds continues to progress the mining licence application for its Tongo Dyke-1 project, in Sierra Leone, informing the market on Thursday that the application had been processed by the National Minerals Agency and was currently under review by the Minerals Advisory Board... 

Distressed mining assets may drive 2016 M&A activity

By: Natasha Odendaal Boardroom confidence is expected to continue this year, after record high mergers and acquisition (M&A) activity in 2015; however, the downward spiral of commodity prices may force distressed mining assets onto the market. Unpacking expectations for the year ahead, international law firm Allen &... 

Distressed mining assets may drive 2016 M&A activity

De Beers lifts rough diamond sales to $540m in first cycle of 2016

De Beers’ rough diamond sales for the first cycle of the year improved significantly to $540-million, compared with $248-million in the final sales cycle of 2015. The miner on Tuesday said a positive holiday season in the US from a retail perspective, low levels of rough diamond purchases by the... 

Lace mine on track to reach full production in July

By: Megan van Wyngaardt Dual-listed DiamondCorp has reiterated that its Lace diamond mine, in the Free State, remains on schedule to reach full production of 30 000 t/m in July, as production ramp-up from the Upper K4 (UK4) block continues. The company had, to date, recovered 7 449 ct of diamonds from bulk testing at... 

Lace mine on track to reach full production in July

Stellar positive about kimberlite pipe, recovers 55 ct diamond

By: Megan van Wyngaardt Trial mining at Aim-listed Stellar Diamonds’ 5 ha Baoulé kimberlite pipe, in Guinea, has yielded 8 043 ct, to date, at an average grade of 12.7 carats per hundred tons. The miner noted that the target for the 75%-owned pipe remained the recovery of three-million carats, based on the continued... 

Liqhobong construction continues to advance on schedule – Firestone Diamonds

Aim-listed Firestone Diamonds is making good progress on the construction of its 75%-owned Liqhobong mine, in Lesotho, with the majority of the civil earthworks completed in the three months to December 31. The project was 61% complete as at the end of December and all construction and structural... 

Petra raises H1 diamond output 2%, exceeding guidance

By: Natalie Greve Petra Diamonds lifted overall diamond production by 2% to 1.62-million carats for the six months ended December 31, exceeding its 1.5-million-carat production target for the first half of the year. It remained on track to reach its production guidance of 3.3–million to 3.4-million carats for the... 

Lucapa sells more diamonds from Lulo

By: Esmarie Swanepoel Diamond miner Lucapa Diamond Company has sold its ninth parcel of alluvial diamonds from the Lulo project, in Angola. The company reported on Monday that the parcel of 178 ct generated gross revenues of A$420 000, with the diamonds selling at an average price of A$2 360/ct. 

Close-Up Mining

Mining, earthmoving and plant hire specialist Close-Up Mining is currently contracted by mining heavy weights Anglo Coal and Glencore, as well as various mid-tier and junior miners in Mpumalanga. It has also previously been subcontracted to service diamond giant De Beers Consolidated Mine’s open... 

Close-Up Mining

Concerns raised about future of Namibian diamond sector

By: Ilan Solomons The diamond mining industry in Namibia has come a long way in a very short time but is currently faced with major sustainability challenges, stated Namibian diamond cutting and polishing company Hard Stone Processing MD Burhan Seber. He was speaking at the second International Diamond Omugongo,... 

Concerns raised about future of Namibian  diamond sector
IN BETTER TIMES At the time of the first International Diamond Omugongo in 2005, Namibia enjoyed a growing number of cutting and polishing factories

Corporate strategy workshop to focus on value creation

By: Mia Breytenbach While mining companies are trying to cut costs in-house and drive efficiency to survive the depressed market, advisory firm Eunomix states that these companies continue to be affected by a “tidal wave” of stakeholder pressures and volatile commodity prices. “Without a strategy to navigate through... 

Corporate strategy workshop to focus  on value creation
Photo by Bloomberg
UNDER PRESSURE While mines have to cut unit costs and improve productivity, they are confronted with demands for increased transparency, accountability and social investment

Flexible, leaner service approach vital for African mining projects

By: Mia Breytenbach Companies need to focus on becoming leaner and challenging the status quo when providing mining- and mineral-related services in Africa in the current global economic climate during which there has been a slump in commodity prices, engineering company WorleyParsons cautions. “The provision of... 

Key speaker to address investment options at Indaba

By: Mia Breytenbach International financial institution World Bank Group VP Makhtar Diop will be a key speaker at this year’s Investing in African Mining Indaba as well as being part of the market panel titled ‘Driving Investment in African Infrastructure - what are the investment options?’. The Mining Indaba will... 

Key speaker to  address investment options at Indaba
Photo by Duane Daws
MAKHTAR DIOP Despite the slowdown of Africa’s biggest economies, the gross domestic product in the region is expected to pick up to an average of 4.4% and 4.8% in 2016 and 2017, respectively

Lack of credit financing stymies diamond sector development

By: Ilan Solomons The rapid erosion of the credit financing of the diamond beneficiation sector, which is heavily dependent on such credit is significantly hamstringing the industry, said diamond manufacturing and distribution company Lazare Kaplan International board of directors chairperson Maurice Tempelsman.... 

Lack of credit financing stymies diamond sector development
GLIMMER OF HOPE An eventual upturn in the economic cycle could be expected to open the spigots to commercial credit once more

Last-minute festive season orders add sparkle to polished diamond market sentiment

By: Ilan Solomons Polished diamond market sentiment improved in December as shortages supported prices and dealers filled last-minute holiday orders, states diamond trading service-provider Rapaport. The company says that, according to initial reports, the US holiday season jewellery sales were positive with... 

Last-minute festive season orders add sparkle  to polished diamond market sentiment
UNCERTAIN FUTURE Dealers are uncertain whether the polished market will continue to be supported by supply shortages, or if trading will become demand-driven

Merger enables engineering firm to weather tough market conditions

By: Nadine James Metallurgical engineering company MDM Engineering has kept its head above water and has been able to secure new contracts despite the depressed market conditions in the mining industry, MDM executive director and founder George Bennett tells Mining Weekly. He attributes the company’s... 

Merger enables engineering firm to  weather tough market conditions
GEORGE BENNETT MDM Engineering is in the process of completing three projects in South Africa

Networking at every turn

By: Kimberley Smuts Event organiser Mining Indaba recognises that one of the most critical functions of the Investing in African Mining Indaba conference is to create a platform that allows all those operating in the African mining sector to engage. The annual Mining Indaba taking place from February 8 to 11 at the... 

Networking at every turn
NETWORKING OPPORTUNITIES ABOUND Mining Indaba has again allocated specific times for networking over the course of the event to allow delegates to set up meetings and take advantage of the opportunity to meet new business contacts

Schwalbe

Focused on providing products and services while ensuring competitiveness in quality, reliability and price, South Africa-based drilling equipment supplier Schwalbe’s product lines have been supplied to and also tested with favourable results achieved by companies such as gold producer Anglo Gold... 

Schwalbe

Service proposition enhancements to prove group’s mettle to Africa

By: Mia Breytenbach Despite testing circumstances in the local mining industry, mineral processing equipment and solutions provider Multotec’s business is progressing well, with the group focusing on offering an improved services proposition to its mining customers across Africa, says Multotec CEO Thomas Holtz.... 

Service proposition enhancements to prove group’s mettle to Africa
TRAINING ENDORSEMENT Multotec provided training for 315 trainees in 2015 and aims to increase the number of trainees to more than 500 this year

Union angst fails to stop De Beers completing Kimberley Mines sale

By: Martin Creamer The sale of all the assets of Kimberley Mines to Ekapa Minerals is through, despite union opposition to the transaction. De Beers Consolidated Mines (DBCM) said in a media release to Creamer Media’s Mining Weekly Online on Thursday that its disposal of Kimberley Mines tailings and the mineral... 

Union angst fails to stop De Beers completing Kimberley Mines sale
Diamond recovery from tailings at Kimberley Mines

De Beers promises plan to accelerate diamond sector improvements

By: Martin Creamer Diamond mining company De Beers this week promised a comprehensive plan to accelerate 2016’s discernable diamond-sector improvements. Addressing a sightholder reception in Botswana during the first De Beers sight of the year, De Beers Group CEO Philippe Mellier committed the world’s single... 

De Beers promises plan to accelerate diamond sector improvements
Philippe Mellier

Tiffany & Co agrees to defer Diamcor debt payments till July

By: Henry Lazenby South Africa-focused project developer Diamcor Mining has announced that strategic partner Tiffany & Co Canada has agreed to payment deferrals and a maturity date extension of its loan and convertible debenture financings with the company for six months. According to the company’s latest... 

Anglo disposes of yet another mine

By: Martin Creamer A newly registered unlisted private Australian company, Batchfire Resources, is buying Anglo American’s Callide thermal coal mine in Queensland under confidential terms. Anglo said on Wednesday that it had agreed to sell 100% of its shares in the subsidiary companies holding its interest in the... 

Anglo disposes of yet another mine
Coal changing hands.

Joburg diamonds reveal how Earth worked more than 3.5bn years ago

By: News24Wire Diamonds dug up in Johannesburg between 1890 and 1930 have revealed how the Earth worked more than 3.5-billion years ago, according to new research. "Because diamonds are some of the hardest, most robust material on Earth, they are perfect little time capsules and have the capacity to tell us... 

Lucapa delivers good results in Dec quarter

By: Megan van Wyngaardt Angola-focused miner Lucapa Diamond completed three sales in the quarter ended December 31, generating revenue of A$8.1-million, the highest quarterly sales result achieved to date. The average selling price of A$2 141/ct was also the highest quarterly average achieved since mining started in... 

Rockwell posts double-digit losses for Q3

By: Natasha Odendaal Following another tough quarter of losses and muted sales during the three months to November, TSX- and JSE-listed Rockwell Diamonds aims to fully implement its corporate restructuring programme and deliver the anticipated cost benefits during the final quarter of the 2016 financial year. Tough... 

Rockwell posts double-digit losses for Q3
Photo by Duane Daws
Rockwell CEO and president James Campbell
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