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Diamonds News

SA mining will perform relatively well – DMR

By: Nadine James     26th January 2018 Improving commodity prices and upward trends in global demand, especially from major South African trading partners, are expected to reinvigorate the mining industry, enabling it to perform relatively well throughout 2018, the Department of Mineral Resources (DMR) states. The DMR notes that with... 

Group aims to increase brand awareness at Mining Indaba

By: Nadine James     26th January 2018 South African industrial group Torre Industries is exhibiting at the 2018 Investing In African Mining Indaba with the aim of increasing the group’s brand awareness among local and international mining industry players. The JSE-listed group has nine business units across three segments: parts and... 

Group aims to increase brand awareness at  Mining Indaba
JON HILLARY There are numerous growth opportunities within the existing business units as well as in peripheral businesses around Torre’s current subsidiaries

Major mining software previewed at Indaba

By: Nadine James     26th January 2018 Mining software company MICROMINE will provide previews of its major product releases – Geobank 2018 and Micromine 2018 – at the Investing in African Mining Indaba, which will take place at the Cape Town International Convention Centre from February 5 to 8. The company will showcase its entire... 

Major mining software previewed at Indaba
PITRAM SOFTWARE Micromine launched a new version of Pitram in October 2017

Brazilian group sells stake in Angola diamond mine to help pay fines

By: Rebecca Campbell     26th January 2018 The sale of Brazilian group Odebrecht’s 16.4% stake in Angolan diamond mining company Sociedade Mineira de Catoca (Catoca Mining Company) to, and its redistribution between, the mine’s two main shareholders, has been approved by Angolan President João Lourenço. He signed the decree authorising... 

Corporation to strengthen partnerships at Indaba

By: Marleny Arnoldi     26th January 2018 State-owned financial services provider Export Credit Insurance Corporation (ECIC) is keen to deepen partnerships with South African exporters who offer their capital goods and services in international and emerging markets, including in Africa.  

Corporation to strengthen partnerships at Indaba
PAUL MOJALEFA PAUL MOJALEFA The Export Credit Insurance Corporation will exhibit to further promote and position its brand in the mining sector

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

By: Nadine James     26th January 2018 With commodity prices improving and the mining industry moving towards positive growth, indications are that participants at the Investing in African Mining Indaba 2018 will experience the “return of investor appetite” first hand, says Mining Indaba MD Alex Grose.  This renewed investor interest... 

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

Alrosa aims to sell 40m carats of diamonds in 2018

By: Reuters     25th January 2018 Alrosa could sell around 40-million carats of diamonds in 2018 provided market conditions are favourable, the Russian State-controlled diamond miner said on Thursday. The world's largest producer of rough diamonds has said it expects production to fall in 2018 due to an accident at its Mir mine... 

De Beers ups year-on-year production by 22%

By: Samantha Herbst     25th January 2018 Buoyed by stronger trading conditions and a contribution from the ramp up of its Canada-based Gahcho Kué mine in the fourth quarter of 2017, diamond giant De Beers increased its total rough diamond production for the year by 22% to 33.5-million, boosted by a 5% increase in production in the... 

De Beers ups year-on-year production by 22%
De Beers' Canada-based Gahcho Kué mine

Botswana Diamonds to undertake further geological work at Limpopo project

By: Simone Liedtke     25th January 2018 Further geological work will be conducted at diamond exploration and project development company Botswana Diamonds’ Thorny River project, in Limpopo, to further refine grade and revenue estimates and extend volume estimates.  

Alrosa appoints director for soon-to-be-opened Indian office

By: Creamer Media Reporter      25th January 2018 Diamond mining company Alrosa has appointed Jim Vimadalal, who previously worked at the Indian offices of Rio Tinto and Swarovski, as director of its representative office in Mumbai. The Indian office is scheduled to open in March. 

Côte d'Ivoire mining sector turnover rose 11.5% in 2017

By: Reuters     25th January 2018 Côte d'Ivoire's mining sector turnover rose by 11.5% in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday. "The mining sector announced a sales revenue of 539-billion CFA francs ($1.02-billion) in 2017, compared to 483-billion... 

Goldman, Citi final bidders for Scotiabank's metals business – sources

By: Reuters     24th January 2018 The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two, three banking and industry sources said on Wednesday. The two - Goldman Sachs Group and Citi - are undertaking due diligence checks, the sources said. 

Russia not discussing reducing its stake in Alrosa in 2018 - RIA

By: Reuters     24th January 2018 Russia is not discussing reducing its stake in diamond miner Alrosa in 2018, the RIA news agency quoted Alrosa CEO Sergei Ivanov as saying on Wednesday. 

Alrosa signs 67 long-term diamond supply contracts

By: Creamer Media Reporter      23rd January 2018 Diamond major Alrosa has signed 67 long-term agreements for the sale of gem quality and industrial rough diamonds, 12 of which are agreements with Russian companies. Of the eight Russian companies that are buying rough diamonds from Alrosa, three are new clients – Aives, Diapur and Kristalldiam. 

Zimbabwe considers building gold, diamond reserves to back currency relaunch

By: Bloomberg     23rd January 2018 Zimbabwe’s new President Emmerson Mnangagwa said his government is considering building reserves of gold and diamonds to back the eventual relaunch of the country’s own currency. The nation abandoned the Zimbabwe dollar in February 2009 after an economic collapse saw inflation surge to about... 

Zimbabwe may scrap local ownership rule on platinum, diamonds

By: Bloomberg     23rd January 2018 Zimbabwe, which has the world’s second-biggest platinum reserves, may lift a requirement that companies mining the metal or diamonds must be at least 51%-owned by black citizens of the country, President Emmerson Mnangagwa said. Mnangagwa, who became president in November after Robert Mugabe... 

Artisanal, small-scale mining explodes amid rising prices

By: Natasha Odendaal     22nd January 2018 A new report has revealed explosive growth in the number of artisanal and small-scale miners worldwide over the past two decades amid rising mineral prices and a general struggle in earning a living from agriculture. The Intergovernmental Forum (IGF) on Mining, Minerals, Metals and Sustainable... 

Gem Diamonds makes fourth 100-ct-plus discovery at Letšeng this year

By: Megan van Wyngaardt     22nd January 2018 LSE-listed Gem Diamonds on Monday reported that it has the recovered a 149 ct, D-colour Type IIa diamond, with excellent shape, from its 70%-owned Letšeng mine, in Lesotho. This is the fourth high-quality diamond of over 100 ct recovered so far this year, and follows closely upon the recovery of... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

By: Bloomberg     19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

Regulatory uncertainty casting shadow over SA amid forecast for further minerals market uptick

By: Mia Breytenbach     19th January 2018 The South African mining industry has had a tumultuous time because of the controversial Reviewed Draft Broad-Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry, also known as Mining Charter III, which, amid lingering political uncertainty, led to low... 

Regulatory uncertainty casting shadow over SA amid forecast for further minerals market uptick

Ethical leadership, good governance and favourable policies will see mining investors flocking to SA – chamber

By: Dylan Slater     19th January 2018 The findings of a December-2017 released survey conducted by the Chamber of Mines (CoM) indicate that if South Africa’s mining industry shifts its focus to create an attractive policy, regulatory and governance environment – through ethical leadership, good governance and the adoption of... 

BlueRock starts mining new kimberlite pipe, expects improved results

By: Megan van Wyngaardt     18th January 2018 South African-focused diamond miner BlueRock Diamonds made a number of planned modifications to the crushing circuit at its Kareevlei diamond mine, near Kimberley, during a three-week Christmas break. The modifications are expected to improve the method of feeding ore to the crushers. 

Mining headlines kick off positively in 2018  

18th January 2018 2018 kicked off with a call for smarter sectors to boost the economy, a praise of Glencore’s asset management and a sparkle of hope for the diamond city of Kimberley. Mining Weekly editor Martin Creamer unpacks the headlines with Creamer Media's Sashnee Moodley. 

Mining headlines kick off positively in 2018
Mining headlines kicks off positively in 2018

New ‘disruptive’ mine borer heads for Indaba unveiling

By: Martin Creamer     18th January 2018 A new Proudly South African mine tunnel borer that requires no blasting, delivers higher production advances, comes with a collaboration imprimatur and can be retrofitted to existing operations, will be unveiled at next month’s Mining Indaba in Cape Town and commissioned in the third quarter of... 

New ‘disruptive’ mine borer heads for Indaba unveiling
Photo by Duane Daws
Danie Pretorius

De Beers diamond venture to lay off at least 130 in Namibia – union

By: Reuters     18th January 2018 Namdeb, a joint venture between Namibia's government and Anglo American's diamond unit De Beers, is expected to lay off at least 130 of its 1,700-strong workforce, a union official said on Wednesday. Shavuka Mbidhi, from the Mineworkers Union of Namibia's Oranjemund branch, said the diamond miner... 

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

Firestone Diamonds revises Liqhobong mine plan to yield better results

By: Megan van Wyngaardt     17th January 2018 Aim-listed Firestone Diamonds, which sold 156 942 ct of diamonds recovered at its Liqhobong mine, in Lesotho, in the quarter ended December 31, has adopted a revised mine plan to increase cash flow in the short term, while resolving issues that affect the value of recovered diamonds. Diamonds... 

Lucapa’s Angola mine delivers its second 100-ct diamond for 2018

By: Megan van Wyngaardt     17th January 2018 Australia-based miner Lucapa Diamond Company is starting the year off on a high note, announcing on Wednesday that it had recovered another 100-ct plus stone at its Lulo project, in Angola. The 116 ct low-quality diamond is the second 100-ct plus stone recovered in the first three weeks of the... 

November mining figures impress, but volatility seems to be on the cards

By: Megan van Wyngaardt     16th January 2018 While the local November mining production statistics showed a relatively solid increase by 6.5% year-on-year, bolstered by platinum group metals (PGMs), iron-ore and coal, the longer-term prospects for the industry remain less certain, owing to a difficult operating environment and policy... 

De Beers turns to blockchain to track diamond origins and purity

By: Reuters     16th January 2018 Anglo American's diamond unit De Beers aims to launch the first industry-wide blockchain this year to track gems each time they change hands starting from the moment they are dug from the ground, its chief executive said on Tuesday. De Beers, the world's biggest diamond producer by the value of... 

De Beers turns to blockchain to track diamond origins and purity
De Beers CEO Bruce Cleaver

Only four diamonds are bigger than one just found at famed mine

By: Bloomberg     16th January 2018 A small, embattled diamond miner just hit the jackpot. The 910-carat stone found by Gem Diamonds Ltd. high in the mountains of Lesotho in southern Africa is the fifth-largest in history. Here are the bigger ones: THE CULLINAN DIAMOND 

Only four diamonds are bigger than one just found at famed mine
Lucara Diamond Corp's 1 109 ct Lesedi la Rona diamond

Rockwell subsidiaries sale still on the table

By: Henry Lazenby     16th January 2018 A two-pronged purchase offer by Ascot Diamonds to acquire the three bankrupt South African subsidiaries, and later, a Cayman-based entity of Canadian miner Rockwell Diamonds is still a viable solution to achieve a sale transaction and therefore, a higher recovery value for creditors, Rockwell... 

Rockwell subsidiaries sale still on the table

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Zimbabwe state diamond company to lift output 65% in 2018 – Minister

By: Reuters     15th January 2018 Zimbabwe’s state diamond company is expected to produce at least 3 million carats this year, up 65 percent from 1.8 million in 2017, the mines minister told parliament on Monday. Winston Chitando said the Zimbabwe Consolidated Diamond Company, which was formed in 2016 when the government banned... 

Zimbabwe state diamond company to lift output 65% in 2018 – Minister

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Botswana’s Okavango posts record diamond sales at $567m

By: Reuters     12th January 2018 Botswana’s Okavango Diamond Company (ODC) posted a 4% jump in sales to $567-million in 2017, the highest annual sales since its formation in 2013, the company said on Thursday. The State-owned company sold 3.41-million carats of diamonds in 2017, managing director Marcus ter Haar told Reuters,... 

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Alrosa’s 2017 rough and polished sales dip to $4.3bn

By: Mariaan Webb     11th January 2018 Russian miner Alrosa’s diamond sales fell to $4.27-billion in 2017, from $4.45-billion in the previous year, as the average price of its rough diamonds dipped. Reporting on the group’s 2017 sales figures, VP Yury Okoemov explained on Thursday that the average price of rough diamonds sold by... 

Alrosa’s 2017 rough and polished sales dip to $4.3bn

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