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Diamonds News

Botswana central bank urges tax reform before diamonds dwindle

By: Bloomberg     4th June 2018 Botswana’s central bank has urged the government to overhaul the southern African nation’s tax regime and prepare the economy for declining contributions from diamonds. Botswana relies on the gemstones for almost a fifth of its gross domestic product and used the revenue generated from sales to... 

Mkango begins major drilling programme at Songwe

By: Simone Liedtke     4th June 2018 Aim- and TSX-V-listed Mkango Resources has started a major diamond drilling programme at its Songwe Hill rare earths project, in Malawi. The drilling programme, the Canadian mineral exploration and development company explained, is a key component of the feasibility study for Songwe, which is... 

Zimbabwe removes requirement for foreign mines to list locally

By: Reuters     1st June 2018 Zimbabwe's Parliament has passed amendments to the mining bill after removing clauses that required foreign mining companies to list locally, according to an official record of Parliament's debates seen on Friday. Mines Minister Winston Chitando had last month promised to remove the requirements,... 

Mining, industrial contracts for ELB in SA and abroad

By: Nadine James     1st June 2018 ELB Engineering Services (ELB) announced last week that it had been awarded the drying system for the M.V. Grand Banks life extension project for marine mining company De Beers Marine. Additionally, the company noted that it had completed train loading station (TLS) and stacker projects for the... 

Mining, industrial contracts for ELB in SA and abroad
STACK THE DECK ELB’s multidisciplinary approach has led to a range of mining and industrial projects in the last year

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

BlueRock raises £350 000 through placement

By: Anine Kilian     31st May 2018 Aim-listed BlueRock Diamonds has raised about £350 000 through the issue of 29.17-million ordinary shares at a price of 1.2p a share.     In addition to strengthening the balance sheet, the company will use the larger part of the proceeds to expedite the development of Pipe 1 at its Kareevlei... 

Lerala diamond mine sells for more than $8m in online auction

By: Marleny Arnoldi     30th May 2018 The Lerala diamond mine, in the Palapye region of Botswana, on Wednesday sold for more than $8-million in an online auction, confirmed liquidity services and auctioneers GoIndustry Dovebid South Africa associate director John Taylor.  

Lerala diamond mine sells for more than $8m in online auction
Lerala diamond mine, in Botswana

De Beers launches lab-grown diamond company Lightbox Jewellery in US

By: Marleny Arnoldi     29th May 2018 Diamond miner De Beers has launched a new company called Lightbox Jewellery that will begin marketing a new brand of laboratory-grown diamond jewellery designs at lower prices than existing lab-grown diamond offerings.  

De Beers launches lab-grown diamond company Lightbox Jewellery in US

Russia’s Severalmaz testing drones for surveying

By: Creamer Media Reporter      29th May 2018 Russian diamond mining company Severalmaz, a subsidiary of State-owned Alrosa, is testing unmanned aerial vehicles (UAVs) for mine surveying of land objects at Europe’s largest primary diamond deposit at Lomonosov. Preliminary results from the UAV testing, which involved a quadcopter and an... 

Russia’s Severalmaz testing drones for surveying

India seeks gold, diamond mining rights in Russia

By: Reuters     29th May 2018 India is seeking rights to mine for gold and diamonds in Russia's resource-rich Far East, Trade Minister Suresh Prabhu told Reuters on Tuesday. Prabhu last week led an Indian delegation to attend the St. Petersburg International Economic Forum. 

Auctioneer confirms interest in Botswana diamond mine auction

By: Marleny Arnoldi     28th May 2018 Auctioneer GoIndustry DoveBid South Africa will be facilitating the sale of the Lerala diamond mine, in the Palapye region of Botswana, through an online auction, with final bids to close on Wednesday. 

Auctioneer confirms interest in Botswana diamond mine auction
The Lerala mine

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

By: Henry Lazenby     25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

Russian diamond producer Alrosa says H1 sales to exceed initial expectations

By: Reuters     25th May 2018 Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength. Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov... 

Diamond evaluation sampling progressing at Botswana BK16 project

By: Melissa Zisengwe     25th May 2018 Some 101 diamonds (18.57 cts), the largest of which was 1.38 ct, were recovered last month from the treatment of the first evaluation samples taken the BK16 kimberlite pipe, which forms part of the Orapa kimberlite field (OKF) in Botswana. Diamond explorer Tsodilo Resources sampling programme... 

Diamond evaluation  sampling progressing at Botswana BK16 project
SAMPLING SORTED Tsodilo Resources has completed processing of all the large diameter drilling samples through its dense media separation plant

Lucara Diamond on track with diamond production

By: Melissa Zisengwe     25th May 2018 Lucara Diamond Corp. is pleased with the progress and developments it has made during the year to date, with the company doing significant work in Botswana and remaining consistent in quality-diamond production. “We are on track to produce the 2018 production estimate, which is 270 000 ct to 290... 

Lucara Diamond on track with diamond production
WHITE DIAMOND One of Lucara Diamonds’ exceptional diamonds

Botswana mining conference yielding opportunities

By: Melissa Zisengwe     25th May 2018 Mining and engineering company Pan African Minerals says it attended the 2018 Mining Investment Botswana Conference, which was held in Gaborone from April 10 to 11, to create partnerships, networks and take advantage of the business matching prospects. The company’s attendance has already yielded... 

Botswana mining conference yielding opportunities
NKULULEKO MHLABA As a result of the 2018 Mining Investment Botswana conference we now also have three pending transactions in Botswana

Signet joins De Beers' Tracr blockchain platform pilot

By: Anine Kilian     24th May 2018 Signet Jewelers will become the first retailer to join De Beers Group's end-to-end diamond blockchain pilot programme, known as Tracr. Tracr aims to complete the first digital link all the way from diamond production through to retail. 

Petra’s shares fall on $178m proposed rights issue

By: Simone Liedtke     24th May 2018 Petra Diamonds’ share price on the LSE fell by more than 20% on Thursday after it announced plans to raise $178-milion, or about £133-million, through a fully underwritten 5 for 8 rights issue. The diamond miner, which has operations in South Africa and Tanzania, said its cash flow generation... 

Petra’s shares fall on $178m proposed rights issue
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

By: Henry Lazenby     24th May 2018 Absent any significant global economic disturbances disrupting consumer diamond demand, incremental year-on-year diamond production declines are forecast to drive real diamond prices up by about 10% cumulatively from 2018 through 2021, or 17% in nominal terms, a new report by independent analyst... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa

By: Nadine James     23rd May 2018 The Chamber of Mines has rebranded and is now the Minerals Council South Africa (MCSA) in line with its quest to reposition the sector as South Africa’s  preeminent industrial sector, while building a new legacy and creating a “future that all South African can be proud of,” MCSA president... 

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa
Photo by Dylan Slater
MCSA president Mxolisi Mgojo and Mineral Resources Minister Gwede Mantashe

Forevermark appeals to Millennials with new flagship store in China

By: Marleny Arnoldi     23rd May 2018 De Beers Groups’ Forevermark brand has launched Libert’aime by Forevermark – a new flagship store in Shanghai, China.  

Forevermark appeals to Millennials with new flagship store in China

Alrosa reopens office in world’s largest diamond jewellery market

By: Creamer Media Reporter      22nd May 2018 Russian diamond miner Alrosa has successfully held its first auction in two years in the US, following the recent reopening of its representative office in New York. The New York office was first opened in 2006, but has not operated since 2016. 

Alrosa reopens office in world’s largest diamond jewellery market

De Beers’ rough diamond sales increase to $550m in fourth sales cycle

By: Anine Kilian     22nd May 2018 Diamond producer De Beers reported an increase in rough diamond sales to $550-million for the fourth sales cycle of this year. This is compared with rough diamond sales of $522-million in the fourth cycle of 2017 and sales of $524-million in the third cycle this year. 

Gem recovers 115 ct diamond from Letšeng

By: Anine Kilian     22nd May 2018 LSE-listed Gem Diamonds has recovered a 115 ct, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.  This is the ninth diamond of over 100 ct recovered at the mine this year, already exceeding the total number of... 

Lucapa recovers another significant stone

By: Esmarie Swanepoel     22nd May 2018 Diamond miner Lucapa has recovered a 25 ct yellow gem diamond from its Mothae kimberlite mine, in Lesotho. The ASX-listed company noted that the stone was recovered from the Neck Zone of the Mothae kimberlite, which was not part of the current one-million carat Joint Ore Reserves Committee... 

Lucapa's Lulo delivers up more diamonds for sale

By: Esmarie Swanepoel     18th May 2018 Diamond miner Lucapa Diamond Company has generated a further A$4-million in sales from a parcel of 1 632 ct of diamonds from its Lulo project, in Angola. The miner said on Friday that the parcel did not include the gem quality 46 ct pink diamond or other large special diamonds recently recovered... 

Russia's Alrosa may buy diamond polisher Kristall in 2018 - Finance Ministry

By: Reuters     17th May 2018 Russian diamond miner Alrosa may buy State-owned diamond polisher Kristall in 2018, Russia's Deputy Finance Minister Alexei Moiseev said on Thursday. Alrosa, the world's largest rough diamond producer by output, said previously it was "expedient" for it to buy Kristall when the state-owned... 

Diamond jewellery demand at all-time high – De Beers

By: Simone Liedtke     17th May 2018 Global consumer demand for diamond jewellery hit a new all-time high in 2017, climbing to $82-billion, a 2% increase on the previous year, according to industry insight data published by De Beers on Thursday. The US was the main driver of growth for the fourth consecutive year, where positive... 

Diamond jewellery demand at all-time high – De Beers
Photo by Darlene Creamer
De Beers CEO Bruce Cleaver

Alrosa sees rosy prospects from colourful diamonds

By: Reuters     16th May 2018 Russia's Alrosa, the world's largest diamond producer by output, plans to boost revenue from selling rare, coloured stones where demand is stable, although it is a niche business. Nature gives fancy colours to about one in every 10 000 rough diamonds of gem quality that are mined around the world. 

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Farnese blue diamond, with 300-year royal history, fetches $6.7m

By: Reuters     16th May 2018 The Farnese Blue diamond, which was passed down through European royal families for 300 years, sold at auction in Geneva on Tuesday for 6.7-million Swiss francs ($6.7-million), beating auctioneers Sotheby's estimate of 3.5-million to 5-million Swiss francs. The 6.16 ct, dark grey-blue gem from... 

Alrosa reports strong Q1 earnings growth

By: Creamer Media Reporter      16th May 2018 Improved market conditions and costs controls have seen diamond miner Alrosa delivered strong first-quarter financial results, with net profit doubling to 33.2-billion rouble. Earnings before interest, tax, depreciation and amortisation increased by 78% on the preceding quarter to 48-billion... 

Mountain Province welcomes former De Beers CFO as new CEO

By: Henry Lazenby     15th May 2018 Canadian diamond producer Mountain Province Diamonds has appointed Stuart Brown as incoming president and CEO, effective from July 1, to replace interim president and CEO David Whittle, who took the helm following the immediate departure of former president and CEO Patrick Evans in June last... 

Botswana President eyes jobs in new 'marriage' with De Beers

By: Bloomberg     15th May 2018 Botswana’s President, Mokgweetsi Masisi, wants a new long-term diamond-sales pact with De Beers when the current ten-year deal expires in 2020 and for more gems to be processed locally. The conclusion of an accord is crucial for both Botswana, which relies on diamonds for almost a fifth of its... 

Alrosa steps up diamond marketing as miner eyes more cutting

By: Bloomberg     15th May 2018 Alrosa, the world’s largest diamond miner by output, is increasing its marketing efforts and targeting new opportunities in gem cutting at a time when the market is showing signs of starting to stabilize. The Russian firm, which typically hasn’t promoted stones outside Russia, last year... 

Alrosa steps up diamond marketing as miner eyes more cutting
Alrosa CEO Sergey Ivanov

Liqhobong GM to succeed Brown as CEO of Firestone Diamonds

By: Simone Liedtke     14th May 2018 Paul Bosma has been appointed to succeed Stuart Brown as CEO of Aim-listed Firestone Diamonds, with effect from July 1. Bosma has more than 24 years’ experience in the mining industry, of which 14 years have been in the diamond sector working for diamond major De Beers. 

Billionaire Beny Steinmetz is digging for diamonds again

By: Bloomberg     14th May 2018 Billionaire Beny Steinmetz is back to mining diamonds. The Koidu mine in Sierra Leone, controlled by the billionaire’s family trust, has started mining again after halting production for almost a year. It’s the latest step in a recovery for a business that’s spent much of the last few years in... 

World Diamond Congress cancelled

By: Anine Kilian     11th May 2018 The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have cancelled this year’s World Diamond Congress, which was due to be held in Tel Aviv, Israel, in June, as a result of a weak response to registration for the event. The organisations... 

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