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Diamonds News

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Rio unveils three large diamonds

By: Esmarie Iannucci     2nd October 2018 Diversified miner Rio Tinto and its joint venture partner Dominion Diamond Mines have revealed three of the finest large rough diamonds from the Diavik mine, in Canada, that will be up for tender, closing on October 25. Collectively known as the Diavik Stars of the Arctic, the three rough... 

Firestone recovers 835 000 ct in first full year of production

By: Marleny Arnoldi     28th September 2018 Aim-listed Firestone Diamonds has narrowed its loss a share to about $0.03 for the financial year ended June 30, compared with the loss a share of $0.37 in the prior comparable period. In the first full year of production at its Liqhobong mine, in Lesotho, the company’s loss decreased by 91% to... 

Excavators moving mountains in Lesotho

By: Halima Frost     28th September 2018 Contractor Basil Read’s mining division has added four new excavators from construction equipment manufacturer Hyundai to its fleet of mobile mining equipment. The excavators – a Hyundai R520LC-9S hydraulic crawler excavator, a Hyundai R850LC-9S tracked excavator, and two 22 T Hyundai R220LC-9S... 

Excavators moving mountains in Lesotho
UNEARTHING POTENTIAL Basil Read is using Hyundai R850LC-9S tracked excavators for a diamond operation in Lesotho

Stanbic Botswana secures $125m loan guaranty to support diamond sector

By: Tasneem Bulbulia     27th September 2018 Stanbic Bank Botswana, which is a member of Standard Bank Group, has, along with the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, and Botswana Finance, a subsidiary of Lazare Kaplan International, signed a $125-million loan guaranty, which... 

Free State has potential to host further commercial kimberlites – Botswana Diamonds

By: Simone Liedtke     25th September 2018 The Free State has the potential to host further commercial kimberlites, says Botswana Diamonds, referencing research in various archives into the history of diamond mining in South Africa. Following the initial document research work and ground truthing, Aim-listed Botswana Diamonds has since... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Ramaphosa moves to revitalise mining, create certainty
President Cyril Ramaphosa

Young generations push record diamond demand but require new approaches by industry

By: Rebecca Campbell     21st September 2018 The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its “Diamond Insight Report 2018”. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global... 

Focus turns to nonexplosives-based rock breaking as quest for safer, more-efficient mining intensifies

By: Dylan Slater     21st September 2018 The South African mining industry, once the backbone of economic growth, intensive job creation and development, is declining constantly, owing to the slow rates of research and development into newer, safer, modernised, mechanised and continuous mining methods. A key pillar of improving mining... 

Focus turns to nonexplosives-based rock breaking as quest for safer, more-efficient mining intensifies

Minergy lauds Botswana regulatory authorities

By: Martin Creamer     20th September 2018 Minergy CEO Andre Bojé is full of praise for Botswana’s regulatory authorities, who he says use legislation to assist mining investment. Minergy, which is listed on the Botswana Stock Exchange, has begun work on its maiden 390-million-tonne Masama, located in the Mmamabula coalfield, 50 km north... 

Minergy lauds Botswana regulatory authorities
Minergy CEO Andre Bojé

Kareevlei output rises 81% y/y in H1

By: Tasneem Bulbulia     20th September 2018 Diamond mining company BlueRock Diamonds has achieved an 81% increase year-on-year increase in production at its Kareevlei diamond mine, in the Kimberley region, to 73 028 t for the six months ended June 30. This represents an active period for the company, culminating in the restabilisation of... 

Lulo kimberlite investment contract gazetted

By: Tasneem Bulbulia     18th September 2018 Tphe Angolan Ministry of Mineral Resources and Petroleum has gazetted a new mineral investment contract for the Lulo kimberlite exploration licence, covering a five-year period through to April 30, 2023. Lucapa Diamond Company co-owns and operates the kimberlite  exploration programme on the... 

Botswana trims growth prospects, sees wider budget deficits

By: Reuters     18th September 2018 Botswana's economy is expected to expand by 4.5% this year, down from an estimate in February of 5.3%, the finance ministry said on Tuesday at a 2019 budget conference. A senior official in the diamond-producing southern African nation’s economy said the government expects an optimistic medium... 

Petra says owed $25m in VAT refunds by Tanzania

By: Reuters     17th September 2018 Petra Diamonds is owed about $25-million in value added tax (VAT) refunds by Tanzania, its chief executive said on Monday. "We are not getting paid at the moment. The historical figure owed is $16-million," CE Johan Dippenaar told Reuters in an interview, adding that current VAT is an additional... 

Petra lifts FY18 adjusted Ebitda, starts search for new CEO

By: Tasneem Bulbulia     17th September 2018 Diamond miner Petra Diamonds achieved a 37% year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $195.4-million for the financial year ended June 30. Its adjusted Ebitda margin improved to 39%, from 36% in the 2017 financial year. 

Petra lifts FY18 adjusted Ebitda, starts search for new CEO
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Premium Lulo diamonds to be sold under new Angola marketing system

By: Mariaan Webb     14th September 2018 ASX-listed Lucapa is preparing to sell its first diamonds from the Lucapa mine through the new marketing channels that Angola is establishing as part of the government’s diamond sector reforms. Certain large premium-valued diamonds will be the first Lulu production to be sold through the new... 

Tsodilo's Botswana kimberlite project produces 44 ct

By: Schalk Burger     14th September 2018 TSX-listed Tsodilo Resources’ BK16 kimberlite project, in the Orapa kimberlite field, in Botswana, has produced a third parcel of diamonds, comprising 279 diamonds weighing 43.95 ct, the company said in a statement on Thursday. The diamondiferous BK16 kimberlite pipe is about 6 ha in size at... 

Tango’s African diamond focus grows

By: Schalk Burger     14th September 2018 TSX-listed Africa-focused Tango Mining on Thursday reported production since January of 941 ct of high-value diamonds from its Oena diamond mine, in the Western Cape. It also reported on progress at further diamond exploration projects in Angola, Liberia and Botswana. 

Growing demand for synthetics not a threat to natural diamonds

By: Nadine James     14th September 2018 Although the global diamond market is currently worth about $87-billion, laboratory-grown diamonds only constitute 2% of that market, or $1.9-billion, says New York-based independent diamond analyst Paul Zimnisky. While the laboratory-grown diamond jewellery market is forecast to grow to about... 

Growing demand for synthetics not a threat to natural diamonds

De Beers wraps up Canada acquisition

By: Creamer Media Reporter      13th September 2018 Anglo America’s De Beers has completed the C$107-million acquisition of Peregrine Diamonds, with the TSX-listed company set to be delisted at the end of trading on Friday. The acquisition, announced in July, was approved by Peregrine securityholders on August 31 and by the Supreme Court of... 

Alrosa reports stable international demand for large diamonds

By: Creamer Media Reporter      13th September 2018 Diamond miner Alrosa has netted $15.6-million from the sale of special large diamonds at an international auction in Israel. A total of 2 611 ct of diamonds, all weighing more than 10.8 ct, were sold in 166 lots. 

Rising generations drive record diamond demand but require new approaches by industry

By: Rebecca Campbell     13th September 2018 The worldwide demand for diamond jewellery set a new record high of $82-billion in 2017, diamond giant De Beers reported in its “Diamond Insight Report 2018”. The driving forces behind this demand were Millennial and Generation Z (Gen Z) consumers, who, together, accounted for 66% of global... 

Rising generations drive record diamond demand but require new approaches by industry

Alrosa sales in 2019 to exceed production

By: Reuters     11th September 2018 Russian diamond miner Alrosa said on Tuesday that its sales next year would be one-million to two-million carats higher than its production in 2019, the RIA news agency cited Alexei Filippovsky, its CFO, as saying. Alrosa expects it production to be around 37.5-million to 38-million carats next... 

De Beers sales cycles delivering consistent value

By: Martin Creamer     11th September 2018 The global sightholder sales and auction sales of diamond company De Beers have this year continued to deliver consistent value, with the latest seventh sales cycle coming in at $505-million, a virtual carbon copy of the $507-million realised in the seventh sales cycle of last year. The steady... 

De Beers sales cycles delivering consistent value
De Beers Group CEO Bruce Cleaver

Tango buys Liberia diamond project

By: Creamer Media Reporter      11th September 2018 TSX-V-listed Tango Mining has signed an agreement to acquire an 80% unencumbered interest in the Mano River project from West Mining, in Liberia. The property consists of one recently granted 104.3 km2 diamond mineral exploration licence located in the western part of the country in an area well... 

Giant diamonds has been mining's one success story this year

By: Bloomberg     7th September 2018 This summer’s crash in commodity prices is turning it into a year to forget for miners. Unless you dig the world’s biggest diamonds. Gem Diamonds has been the standout performer in the FTSE All-Share Mining Index, gaining almost 70% this year. In comparison, almost every other miner is in... 

Trans Hex sells Cape Town head office building

By: Marleny Arnoldi     7th September 2018 JSE-listed diamond miner Trans Hex will sell the building that has been its head office for nearly three decades, announcing this week that the Cape Town property will be sold for R28.5-million. The building is located at 405 Voortrekker road, Parow.  

Company expands footprint in manganese mining industry

7th September 2018 Mining equipment specialist Osborn Engineered Services has secured an R8.5-million order to supply a range of its high-quality machines to a new manganese mine in the Northern Cape. Osborn product sales manager Francois Scott says that this order and the region are significant for Osborn. The... 

Company expands footprint in manganese mining industry
MANGANESE OPERATION Osborn Engineered Services will supply new machines to a new operation in the Northern Cape

Accelerate processes to ensure timeous recovery of mining sector – govt urged

By: Nadine James     7th September 2018 Integrated infrastructure delivery company AECOM is well-poised to make inroads into the mining industry, says AECOM Africa strategy and growth director Fadzai Nyamasve. She tells Mining Weekly that  although there  is still uncertainty in the market regarding the Mining Charter, AECOM expects... 

Accelerate processes to ensure timeous  recovery of mining sector – govt urged
FADZAI NYAMASVE Regulatory uncertainty is being addressed and there is a deliberate campaign to attract investors, so the pressing challenge is ensuring the industry recovers in a timeous manner

Large diamond recoveries contribute to Gem’s strong H1 financial performance

By: Creamer Media Reporter      5th September 2018 Record recoveries of large, high-quality diamonds at the Letšeng mine, in Lesotho, contributed to a strong financial performance for LSE-listed Gem Diamonds in the first half of this year. The miner, which recovered ten diamonds weighing more than 100 ct each during the six months, on Wednesday... 

Renard underground ramp-up completed

By: Creamer Media Reporter      5th September 2018 Quebec’s Renard underground mine has achieved its full design capacity of 6 000 t/d, with Stornoway Diamond Corp on Tuesday declaring the underground ramp-up completed. Over a 20-day period ended on August 29, ore mucked and trucked to surface averaged 6 039 t/d, against a budgeted design... 

Renard underground ramp-up completed
The Renard mine has transitioned from openpit mining to underground operations.

Master Drilling acquires Atlantis

By: Martin Creamer     5th September 2018 The strengthening of diversified geographic footprint of mining technology company Master Drilling is continuing with the announcement on Wednesday that the Johannesburg Stock Exchange company had entered into agreements to acquire the businesses of the Atlantis Group, a South African... 

Master Drilling acquires Atlantis
Photo by Creamer Media Chief Photographer Dylan Slater
Master Drilling CEO Danie Pretorius

BlueRock starts processing from second kimberlite pipe at Kareevlei  

By: Creamer Media Reporter      4th September 2018 Aim-listed BlueRock Diamonds, which owns and operates the Kareevlei diamond mine, nearly Kimberley, in the Northern Cape, has started kimberlite processing from the KV1 pipe – the mine’s second kimberlite pipe. KV1 is one of five known kimberlite pipes within the Kareevlei project area and has an... 

POZ to bid for Ellendale mine

By: Esmarie Iannucci     4th September 2018 ASX-listed POZ Minerals on Tuesday told shareholders that it will throw its hat in the ring for the Ellendale diamond mine, in Western Australia. The state government in late August announced that it was looking for a new owner to reopen the Ellendale mine, with expressions of interest (EOI)... 

Lab-made diamonds for less: Why De Beers's plan worries rivals

By: Bloomberg     4th September 2018 De Beers hasn’t even opened its first synthetic diamond store, but its looming entry into the market for man-made gems has already shaken the industry. The unit of Anglo American said three months ago that it plans to sell lab-grown diamonds at a fraction of the going rate, undercutting rivals... 

Lab-made diamonds for less: Why De Beers's plan worries rivals

De Beers will allow buyers to reject cheap diamonds

By: Bloomberg     4th September 2018 De Beers is allowing its diamond buyers to refuse some lower-quality stones at its sale this week, according to people familiar with the situation. It’s a rare move by De Beers, which is famous for requiring buyers to take what’s offered, and highlights the weak state of the low-end diamond... 

Peregrine holders approve De Beers deal

By: Creamer Media Reporter      3rd September 2018 The takeover of Peregrine Diamonds by De Beers is expected to close on September 12, the TSX-V-listed junior said on Friday, announcing that its security holders have approved the plan of arrangement between the companies. In terms of the arrangement, announced in July, the Anglo American unit... 

Indian bank quits Antwerp diamond hub in blow for gem financing

By: Bloomberg     3rd September 2018 Union Bank of India is pulling out of the global diamond hub of Antwerp, joining a retreat of lenders from the industry, which has been hit by fraud and bad debt. The bank has given notice that it will close its branch in the Belgian port city within a year, according to CEO Rajkiran Rai Gundyadka. 

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