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Diamonds News

De Beers reports stable ninth sales cycle before retail selling season starts 

By: Marleny Arnoldi     20th November 2018 Diamond miner De Beers sold $440-million worth of rough diamonds during the ninth sales cycle of this year. This is lower than the $475-million worth of diamonds sold in the eighth cycle of the year, as well as the $503-million worth of diamonds sold in the seventh cycle. 

Lucapa sells more diamonds from Lulo

By: Esmarie Iannucci     19th November 2018 Diamond miner Lucapa Diamond Company has generated a further $4.2-million in sales revenue following the sale of 3 411 carats from its Lulo alluvial mine, in Angola. The company told shareholders that the parcel of diamonds achieved an average price per carat of $1 220, bring the total... 

Instil portable skills to assist economic development post closure – consultancy

By: Nadine James     16th November 2018 Mining companies’ social and labour plans (SLPs) should incorporate initiatives or programmes aimed at reskilling workers and uplifting community members through the development of portable skills, says socioeconomic development facilitator Economic Development Solutions (EDS) MD Janine Espin.... 

Instil portable skills to assist economic development post closure – consultancy
JANINE EPSIN ompanies should approach closure with economic sustainability in mind

WDC calls for expanded definition of conflict diamonds

By: Tasneem Bulbulia     15th November 2018 The World Diamond Council (WDC) and the Civil Society Coalition (CSC) this week voiced their strong support for an expanded definition of conflict diamonds at the launch of the 2018 Plenary Session of the Kimberley Process (KP), in Brussels, Belgium. The proposal, put forward by the government of... 

Botswana Diamonds buys Alrosa’s stake in Sunland JV, talks with new partner progress

By: Marleny Arnoldi     15th November 2018 Aim-listed Botswana Diamonds (BOD) has completed the acquisition of Russian diamond miner Alrosa’s 50% interest in the Sunland Minerals joint venture (JV), giving BOD full ownership of the project. BOD on Thursday also announced that negotiations were under way with a potential new JV partner –... 

Botswana Diamonds buys Alrosa’s stake in Sunland JV, talks with new partner progress
Botswana Diamonds chairperson John Teeling

Stornoway names new CEO; posts Q3 loss

By: Mariaan Webb     14th November 2018 Canadian miner Stornoway Diamonds has appointed a new CEO to succeed Matt Manson on January 1, it said on Wednesday, after reporting an adjusted third-quarter net loss of C$31.7-million, sending its shares down 12% on the TSX. Patrick Godin, currently the COO, will succeed Manson, who has been... 

Stornoway names new CEO; posts Q3 loss
Stornoway's outgoing CEO Matt Manson

Peregrine, NexGen and Cardinal among leaders honoured in PDAC awards

By: Creamer Media Reporter      14th November 2018 The Prospectors and Developers Association of Canada (PDAC) has announced the winners of its yearly awards, which recognise the work of international and domestic leaders in the mineral exploration and mining community. The Bill Dennis award went to Peregrine Diamonds, which discovered the... 

Harry Winston jeweler buys 'Pink Legacy' diamond for record $50m – Christie's

By: Reuters     14th November 2018 The "Pink Legacy", a diamond weighing just under 19 carats, fetched a record 50.375-million Swiss francs ($50-million), purchased by US-based luxury jeweller Harry Winston, Christie's said on Tuesday. Harry Winston, owned by Swatch whose CEO is Nayla Hayek, daughter of the late Swatch founder... 

Diamond core intersections confirm geological model at Kodal’s Mali project

By: Tasneem Bulbulia     13th November 2018 Mineral exploration and development company Kodal Minerals has received assay results for the first two diamond drill holes completed during the wet season at the Sogola-Baoule and Boumou prospects on the company’s 450 km2 Bougouni lithium project, in southern Mali. The diamond core intersections... 

Mountain Province foregoes dividend in weaker market

By: Mariaan Webb     13th November 2018 The shareholders of Canadian diamond miner Mountain Province have missed out on a third-quarter dividend, owing to difficult trading conditions in the lower-end segment of the diamond market. Mountain Province recently paid shareholders a maiden dividend of 4c a share, but said late on Monday... 

Mountain Province foregoes dividend in weaker market

De Beers is said to make big cuts in low-end diamond prices 

By: Bloomberg     12th November 2018 De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation. The world’s biggest producer reduced prices as much as 10% for low-quality stones, said the people, who asked not to be identified because the sales are private.... 

De Beers is said to make big cuts in low-end diamond prices

DDE and Stargems host six rough diamond tenders, over 2-million carats sold

By: Tasneem Bulbulia     12th November 2018 The Dubai Diamond Exchange (DDE) and Stargems Group have completed six rough diamond tenders of Anhui-Congo Mining Investment Company goods, with over two-million carats sold. The tenders were held at the Almas Tower with around 200 diamond companies in attendance and were facilitated by the DDE... 

DDE and Stargems host six rough diamond tenders, over 2-million carats sold
DMCC executive chairperson and DDE chairperson Ahmed Bin Sulayem

Rio Tinto Exploration Canada starts drilling Fort à la Corne kimberlites

By: Creamer Media Reporter      11th November 2018 Rio Tinto Exploration Canada (RTEC) has started drilling the Fort à la Corne kimberlites, in Saskatchewan, as it reinvestigates these kimberlites that Star Diamond and other companies have previously explored. The Fort à la Corne kimberlites are outside the Star and Iron South kimberlites, which... 

Alrosa says October diamond sales down 28% y/y

By: Reuters     9th November 2018 Russian diamond miner Alrosa said on Friday that its sales of rough and polished diamonds totalled $242.8-million in October, a year-on-year decrease of 28%. Alrosa said in a statement that its total diamond sales from January to October rose 6% year-on-year to $3.9-billion. 

Lucara records lower Ebitda of $18.2-million for Q3

By: Tasneem Bulbulia     9th November 2018 Lucara Diamond Corp achieved earnings before interest, taxes, depreciation and amortisation (Ebitda) of $18.2-million for the third quarter ended September 30, compared with the Ebitda of $49.8-million reported for the quarter ended September 30, 2017. The decrease in Ebitda reflects lower... 

Progress in Southern Africa for diversified Canadian junior

9th November 2018 Metswedi Mining has received the first renewal for both prospecting licence (PL) 101 (430 km2) and PL58 (2.3 km2) which make up the Middlepits project, in Botswana, Canadian diversified junior mining company Tango Mining announced in October.  

Tsodilo receives BK16 valuation

By: Tasneem Bulbulia     8th November 2018 Tsodilo Resources has received the results of an independent modelled grade and diamond value for an aggregate 77.94 ct parcel of 502 commercial size diamonds. These were recovered during large diameter drilling (LDD) from four kimberlite units at the BK16 kimberlite pipe, in the Orapa Kimberlite... 

Botswana Diamonds signs mining contract with Palaeo Minerals

By: Tasneem Bulbulia     7th November 2018 Botswana Diamonds has concluded a mining contract with Palaeo Minerals, covering both bulk sampling activities and future full-scale mining, at the Thorny River project, in South Africa. Palaeo is an experienced mining contractor that operates in South Africa and Zimbabwe. 

Alrosa recovers first large diamond from new deposit

By: Creamer Media Reporter      7th November 2018 The newly commissioned Verkhne-Munskoe deposit, in western Yakutia, has yielded its first large diamond, Russian miner Alrosa reported on Wednesday, announcing the recovery of a 51.49 ct rough diamond. The transparent round-shaped octahedron crystal has an insignificant yellow hue and measures... 

Savannah shares up on new Portugal lithium discovery

By: Creamer Media Reporter      7th November 2018 The share price of diversified junior Savannah Resources jumped 6% on Wednesday on news of three newly discovered pegmatites at the Pinheiro deposit at the Mina do Barroso (MdB) lithium project, in northern Portugal. Pinheiro is now the fourth major deposit in the mining lease and has the... 

Stornoway studies new openpit at Renard

By: Mariaan Webb     7th November 2018 Quebec miner Stornoway Diamonds is investigating a potential new openpit at the Renard diamond mine, which earlier this year transitioned to underground operations. The new openpit being studied is located at the Renard 4 and nearby Renard 9 kimberlites and will supply ore feed earlier in the... 

Stornoway studies new openpit at Renard

Anglo finds returns outweigh risks as it renews Africa focus 

By: Bloomberg     7th November 2018 Anglo American is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns. The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent,... 

Anglo finds returns outweigh risks as it renews Africa focus
Anglo American CEO Mark Cutifani

Canadians invited to participate in De Beers' Shining Light Awards as entries open

By: Creamer Media Reporter      5th November 2018 The De Beers Group Designers Initiative is inviting jewellery designers to participate in the 2018/19 Shining Light Awards, which will, for the first time, be open to Canadian participants. The latest edition of this biannual jewellery design competition, which has existed for over 22 years in... 

Diamond industry’s confidence in XRT sorting growing

2nd November 2018 X-ray transmission (XRT) technology has ushered in a new era for diamond recovery, with an increasing number of mining companies embracing the technology and scaling back on the use of conventional technologies, such as dense-media separation, for the treatment of middle- and coarse-sized... 

Diamond industry’s confidence in XRT  sorting growing
A NEW ERA Mining companies are embracing new technology for diamond recovery and scaling back on the use of conventional technologies

Alrosa starts mining at new 1.8m ct/y deposit

By: Mariaan Webb     31st October 2018 Russian diamond miner Alrosa has marked the official start of diamond mining operations at the Verkhne-Munskoye diamond field, which will produce about 1.8-million carats a year for the next 20 years, replacing capacity from the flooded Mir mine. Verkhne-Munskoye will be using the processing... 

Gem to build $3m plant to test tech that identifies diamonds within kimberlite ore

By: Simone Liedtke     31st October 2018 In line with its strategy of the early detection of large diamonds and reducing diamond damage, LSE-listed Gem Diamonds has approved the construction of a $3-million pilot plant, at Letšeng, in Lesotho, that will use innovative technology to identify diamonds within kimberlite ore and... 

Firestone reports lower q/q output, sales for Q1

By: Marleny Arnoldi     29th October 2018 Aim-listed Firestone Diamonds recovered 240 733 ct of diamonds at a grade of 23.8 carats per hundred tonnes (cpht) from its Liqhobong mine, in Lesotho, during the quarter ended September 30 – the first quarter of its 2019 financial year This compares with the 263 512 ct recovered at a grade of... 

Alrosa joins De Beers’ blockchain traceability pilot

By: Creamer Media Reporter      29th October 2018 Russian diamond miner Alrosa has joined the Tracr diamond industry blockchain traceability platform that fellow miner De Beers is developing. Alrosa’s involvement brings the world’s two largest diamond producers together in the pilot programme that aims to provide enhanced assurance for... 

Saskatchewan diamond mine gains provincial approval

By: Mariaan Webb     29th October 2018 The Star Diamond Corporation has received environmental approval from the Saskatchewan government for its Star-Orion South project, near Prince Albert. The project already has a positive federal environmental assessment decision in the bag. 

Reutech Mining plans to expand product range

By: Jessica Oosthuizen     26th October 2018 Mining technology and geotechnical slope-stability-monitoring radar systems supplier Reutech Mining plans to expand its product range in 2019, says executive manager Jan de Beer. The company provides equipment that can assist in real-time monitoring of the mine walls in opencast mines to provide... 

Reutech Mining  plans to expand  product range
QUICK SCAN The Reutech Mining Movement and Surveying Radar is the fastest scanning real aperture radar capable of detecting submillimeter movement of up to 4 000 m away from the rock face

South Africa’s IDC invests R100m in Lucapa’s Lesotho mine

By: Esmarie Iannucci     25th October 2018 Diamond miner Lucapa Diamond Company has secured a R100-million development facility from the Industrial Development Corporation of South Africa (IDC) for its Mothae kimberlite diamond mine, in Lesotho. The facility will span a four-year period, and will include a 12-month moratorium on capital... 

De Beers’ rough diamond production down 5% in Q3

By: Nadine James     23rd October 2018 De Beers Group on Tuesday reported that its rough diamond production had decreased by 5% to 8.7-million carats in the third quarter ended September 30, owing to planned volume reductions in Botswana and South Africa. In Botswana, production declined by 6% to 5.7-million carats owing to the... 

De Beers’ rough diamond production down 5% in Q3

Lucara to hold first sale through Clara digital sales platform

By: Simone Liedtke     22nd October 2018 TSX-listed Lucara Diamond Corp will hold the first diamond sale through its 100%-owned digital sales platform, Clara Diamond Solutions, in November. It has invited a select group of large vertically integrated jewellery houses and global diamond manufacturers to participate in the sale. 

Petra delivers sound Q1 production

By: Tasneem Bulbulia     22nd October 2018 London-listed Petra Diamonds achieved a solid operational performance in the three months ended September 30 – the first quarter of its 2019 financial year. Production for the period increased by 21% year-on-year to 1.07-million carats, mainly as a result of a 25% increase in run-of-mine... 

Lucapa starts commissioning at Mothae

By: Esmarie Iannucci     22nd October 2018 Diamond miner Lucapa Diamond Company has started commissioning of the 1.1-million tonne a year treatment plant at its Mothae kimberlite diamond mine, in Lesotho. First commercial diamond recoveries are slated for early November.  

Why a no-deal Brexit risks freezing London's diamond trade

By: Bloomberg     19th October 2018 The UK has warned that a no-deal Brexit risks London being frozen out of the global diamond trade. Britain is a member of the Kimberley Process, the global certification program used to track and prevent the trade of conflict gems, through its European Union membership. The country will need to... 

Mountain Province says recent diamond sale netted $24.2m

By: Creamer Media Reporter      19th October 2018 Toronto-based miner Mountain Province has netted $24.2-million from the sale of 366 505 ct in its most recent diamond sale, which the company says is in line with its expectations. The sale, held on October 5, realised an average value of $66/ct. 

De Beers eyes tech markets for synthetic diamonds future 

By: Reuters     19th October 2018 Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting. Element Six, De Beers' synthetic diamond arm, is building a $94-million factory in Portland, Oregon, an... 

De Beers eyes tech markets for synthetic diamonds future

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