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Diamonds News

De Beers notes continued good demand for rough diamonds

By: Creamer Media Reporter      12th December 2017 Continued stable demand for diamonds resulted in De Beers generating $450-million in its tenth sales cycle of the year. This compares with the $466-million generated in the ninth sales cycle of this year and the $422-million earned in the tenth sales cycle of 2016. 

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Cyril Ramaphosa calls for mining sector action 

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Tsodilo acquires sorter for final recovery at BK16

By: Natasha Odendaal     11th December 2017 TSX-V-listed Tsodilo Resources has finalised the final recovery circuit of the dense medium separation (DMS) plant at its BK16 kimberlite project, in Botswana, with the purchase of a Polus-M sorter from Russian X-ray sorter manufacturer Bourevestnik. The new sorter for the final recovery plant... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth 

By: Martin Creamer     8th December 2017 New ‘Proudly South African’ start-up Erudite Strategies has hit a rich vein of acceptance in Australia, where investors in junior mining projects in Africa are showing alacrity in taking up its unique client representative and owner’s engineer offering. Each of Erudite’s three leading lights has... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth
Mining Weekly Online’s Martin Creamer interviews Johann de Bruin, the founding director of the new project engineering company Erudite. Video: Nicholas Boyd. Video Editing: Nicholas Boyd and Lionel da Silva.

South Africa urged to go back to basics to avoid mining’s demise

By: Mia Breytenbach     8th December 2017 For South Africa's mining industry to return to more successful times, the country will need to go back to basics, says Wits Mining Institute director Professor Fred Cawood, who also suggests that these basics could aid in sidestepping the demise of the mining industry in South Africa. These... 

South Africa urged to go back to basics to avoid mining’s demise
PROFESSOR FRED CAWOOD South Africa should embrace mining

New polishing facility a boost to Dubai’s status as a diamond trading centre

By: Dylan Slater     8th December 2017 The global diamond industry is either growing in affluent regions or remaining steady in less affluent regions, thereby showing a degree of positivity with signs of growth. This also points to a degree of untapped potential that is ready to be unlocked through increased investment upstream and... 

New polishing facility a boost to Dubai’s status as a diamond trading centre

Mining will only ‘move forward’ if there is a change of guard at Mineral Resources – lawyer

By: Mia Breytenbach     8th December 2017 The mining industry cannot move forward until new leadership is established within the Department of Mineral Resources (DMR), says law firm Cliffe Dekker Hofmeyr (CDH) mining head Allan Reid, who suggests that such a change could re-establish “some degree of optimism and trust in the mining... 

Mining will only ‘move forward’ if there is a change of guard  at Mineral Resources – lawyer
NEW HORIZONS South African mining companies are exploring other African jurisdictions for mining investment

India Trade Ministry is said to seek lower tax on diamond miners

By: Bloomberg     7th December 2017 India’s Trade Ministry is seeking a cut in taxes for overseas diamond miners to boost trading in the world’s largest hub for polishing the gems, people with knowledge of the matter said. The Commerce Department in a letter to the Finance Ministry has sought to scrap levies and instead... 

World Diamond Council encourages open dialogue, reform

By: Mia Breytenbach     7th December 2017 The World Diamond Council has called for an open discussion about the Kimberley Process (KP) reform at the upcoming KP plenary, which will take place in Brisbane from December 9 to 14. As the voice of the diamond industry, the WDC is calling for all KP participants to join together in a... 

Mike Brown steps in as Gem Diamonds nonexecutive director

By: Dylan Slater     7th December 2017 Diamond producer Gem Diamonds is set to receive fresh blood as decade-sitting Gavin Beevers will not stand for re-election in 2018 as a nonexecutive director 

Mike Brown steps in as Gem Diamonds nonexecutive director
Photo by Duane Daws
Incoming Gem Diamonds nonexecutive director Mike Brown

BlueRock surpasses monthly production target in Nov

By: Anine Kilian     5th December 2017 Aim-listed BlueRock Diamonds’ Kareevlei mine, in South Africa’s Northern Cape, surpassed its monthly target production of 25 000 t in November. Production increased by 56% month-on-month to 25 146 t. 

Diamond miner Alrosa refinances loan

By: Mariaan Webb     5th December 2017 Russian miner Alrosra has reduced its debt to $1.48-billion, following an early repayment of $120-million on its $720-million bank loan due in 2019. The diamond mining group has refinanced the balance of $600-million through two new loans of $350-million and $250-million issued by Raiffeisenbank... 

De Beers spearheading diamond traceability digital platform service

By: Anine Kilian     4th December 2017 Diamond giant De Beers is investing in a new digital platform service that provides a single, immutable record tracing a diamond’s individual journey through the value chain. This diamond traceability platform is underpinned by blockchain technology, which allows for a highly secure digital... 

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Mountain Province prices $330m senior second-lien notes to settle construction debt

By: Henry Lazenby     2nd December 2017 Diamond producer Mountain Province Diamonds has launched a $330-million debt financing to settle its Gahcho Kué project construction loan facility and to repay previously sunk expenses by the mine’s majority owner and operator De Beers Canada. The Toronto-headquartered company is offering senior... 

Firestone revises mine plan amid lower diamond values

By: Natasha Odendaal     1st December 2017 Aim-listed Firestone Diamonds has made a good start to mining at the Liqhobong mine, in Lesotho, with all operational targets within management's control having either been met or exceeded after the mine development project was completed within budget. However, lower-than-expected average diamond... 

Russia's 51-ct diamond named for Romanovs fails to sell

By: Bloomberg     1st December 2017 The most expensive diamond ever polished in Russia, named Dynasty after the Romanov-era Imperial Court, failed to sell in an auction. Alrosa said it didn’t receive a high enough offer for the 51.4-carat gem in a November 29 online auction. The stone has the best so-called triple excellence... 

Dassault Systèmes heralding in new autonomous mining era  

By: Martin Creamer     30th November 2017 The 'mine of tomorrow' is expected to be a factory-like entity equipped with a multiplicity of autonomous devices, which are controlled by technology savvy personnel working from remote centres, attendees of the natural resources forum heard in Sandton on Thursday. The ‘mine of tomorrow’ would... 

Dassault Systèmes heralding in new autonomous mining era
Dassault Systèmes Geovia CEO Raoul Jacquand interviewed by Mining Weekly Online’s Martin Creamer on mine modernisation. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Karowe to produce up to 290 000 ct in 2018

By: Anine Kilian     30th November 2017 Canadian diamond junior Lucara Diamond’s Karowe mine, in Botswana, is expected to process between 2.4-million and 2.7-million tonnes of ore and produce between 270 000 ct and 290 000 ct of diamonds in 2018.  In an update to shareholders on Thursday, the diamond miner noted that the performance of... 

Gem smuggling thwarts revival of Central African Republic

By: Bloomberg     29th November 2017 In the lounge of a luxury hotel in Bangui, the capital of war-torn Central African Republic, soft-spoken diamond dealers cautiously sidle up to guests. Their whispered offers of gems for sale are a visitor’s first hint of the thriving illegal market for the precious stones in a country that five... 

Gahcho Kué hits 5m carats in less than ten months

By: Henry Lazenby     29th November 2017 The 51%/49% De Beers and Mountain Province Diamonds-owned Gahchu Kué mine produced more than five-million carats of diamonds in the first ten months of 2017. Located in the remote Northwestern Territories of Canada, the mine declared commercial production in March, and is expected to produce an... 

Gahcho Kué hits 5m carats in less than ten months
Photo by Reuters
The De Beers and Mountain Province Diamonds-owned Gahchu Kué mine, in Canada's Northwest Territories

Stellar receives tax clearance for Guinea asset sale

By: Creamer Media Reporter      28th November 2017 Aim-listed Stellar Diamonds has received the required tax clearance certificates, after completing all the necessary Guinean governmental tax payments, for the sale of its Guinea companies and assets to BDG Capital. BDG is completing its review of these documents after which it is expected that... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon

By: Martin Creamer     28th November 2017 The process of reconsidering the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill has generated a new range of procedural missteps and failed to address any of the substantive problems in the Bill, leaving the entire withdrawal of the Bill as the only constitutionally... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon
Photo by Duane Daws
Herbert Smith Freehills Africa co-chair and partner Peter Leon.

De Beers’ Voorspoed diamond mine on market

By: Martin Creamer     27th November 2017 The decision of diamond giant De Beers to place its Voorspoed diamond mine on the market opens the way for a lower-cost operator to buy the mine and potentially extend its life, the company said on Monday, when it invited expressions of interest from prospective buyers and appointed Standard Bank... 

De Beers’ Voorspoed diamond mine on market
Voorspoed Diamond Mine in Kroonstad, Free State.

Atlas Copco splits into entities focusing on mining and civil engineering, and the industrial market

By: Dylan Slater     24th November 2017 Construction and mining equipment manufacturer Atlas Copco has started a process to divide the company into two separate entities – Atlas Copco and Epiroc. Epiroc will remain a subsidiary of Atlas Copco.  

Atlas Copco splits into entities focusing on mining  and civil engineering, and the industrial market
SANJAY AHUJA Epiroc is now a house where we can live and breathe mining and rock excavation

Agromining may provide new opportunities to extract remaining value from mined land

By: Mia Breytenbach     24th November 2017 With a significant portion of the large mineral deposits having been discovered worldwide, and in many cases reaching the end of viable economic recovery, phytomining is one option that could be chosen to extract the remaining value from this mined ground, Florida International University... 

Agromining may provide new opportunities to extract remaining value from mined land

Gem unearths 202 ct diamond

By: Megan van Wyngaardt     23rd November 2017 LSE-listed Gem Diamonds has recovered a high-quality 202 ct, D-colour Type IIa diamond from its Letšeng mine, in Lesotho. This is the seventh diamond of over 100 ct to be recovered from Letšeng this year. Letšeng is believed to be the highest dollar per carat kimberlite diamond mine in the world. 

Mountain Province records higher revenues from 9th diamond tender

By: Henry Lazenby     23rd November 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones strengthen, despite a cautious market. The Toronto-headquartered company, which has a 49% stake in the Gahcho Kué mine, in... 

De Beers JV starts planning construction of largest offshore diamond mining vessel

By: Natasha Odendaal     22nd November 2017 Planning for what could potentially be the world’s largest custom-built offshore diamond mining vessel has been initiated, diamond giant De Beers announced this week. The Government of Namibia and De Beers’ 50:50 joint venture Debmarine Namibia is aiming to start the operation of a new... 

De Beers JV starts planning construction of largest offshore diamond mining vessel
The SS Nujoma

Lucapa and Equigold deepen relationship

By: Megan van Wyngaardt     21st November 2017 Private Singaporean company Equigold is further increasing its shareholding in Africa-focused Lucapa Diamond Company by converting the last two scheduled quarterly repayments, totalling $3.75-million, into Lucapa shares. The companies in October agreed to enter a $15-million loan facility, which... 

Lucapa sells 4 126 ct parcel for A$9.6m

By: Megan van Wyngaardt     20th November 2017 ASX-listed Lucapa Diamond Company sold 4 126 ct of diamonds, achieving proceeds of A$9.6-million at its eighth alluvial diamond sale for the year. Sold in conjunction with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, the diamonds from the Lulo project in Angola averaged A$2... 

Lucapa sells 4 126 ct parcel for A$9.6m
Photo by Lucapa
The latest sale parcel from the Lulo mine

Alrosa Q3 net profit halves on losses from flooded mine

By: Reuters     17th November 2017 Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine. The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir. 

Botswana Diamonds positive about potential at South African project

By: Anine Kilian     17th November 2017 A detailed ground geophysical survey undertaken on eight Group 1 kimberlites at Aim-listed Botswana Diamonds’ Free State exploration project, which is located between Bloemfontein and Kimberley, in South Africa, has indicated that the sizes of these kimberlites range from 0.3 ha to 1.15 ha. The... 

Need for collaboration in CSR initiatives emphasised

By: Mia Breytenbach     17th November 2017 With the mining industry now recovering from the downturn in commodity prices, and a new balance emerging in the global demand and supply of minerals, now is the time to reflect, innovate and plan for a more resilient industry in the future, says Mineral Resources Deputy Minister Godfrey... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA

By: Dylan Slater     17th November 2017 Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA
Photo by Duane Daws
PAUL MILLER A significant volume of additional capital needs to be earmarked for every new mining project to account for risk associated with policy uncertainty

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

De Beers reports uptick in demand ahead of Christmas

By: Creamer Media Reporter      14th November 2017 An uptick in demand for diamonds ahead of Christmas has contributed to De Beers reporting sales of $455-million for its ninth sales cycle of the year, compared with sales of $376-million in the eighth sales cycle. This was, however, lower than the sales of $476-million achieved in the ninth sales... 

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