R/€ = 16.88 Change: -0.06
R/$ = 14.39 Change: -0.07
Au 1197.50 $/oz Change: -10.72
Pt 826.00 $/oz Change: -10.99

Diamonds News

BlueRock raises £500 000 to expand mining activities

By: Marleny Arnoldi     20th March 2018 Aim-listed BlueRock Diamonds has raised about £500 000, before expenses, through the issue of 33.33-million shares of 1p each.  

Zimbabwe changes empowerment law limiting majority ownership to diamond and platinum

By: Reuters     19th March 2018 Zimbabwe has changed its empowerment law to limit majority ownership by state entities to only diamond and platinum mines and not the entire mining sector as in previous legislation, according to a government notice. The Indigenisation and Econmic Empowerment Act was designed to increase black... 

Mountain Province, De Beers consider incorporating Kennady assets into Gahcho Kué JV

By: Simone Liedtke     19th March 2018 TSX-listed Mountain Province Diamonds has signed a nonbinding memorandum of understanding (MoU) with De Beers Canada, its partner in the Gahcho Kué mine, to potentially incorporate properties owned by Kennady Diamonds into the Gahcho Kué joint venture (JV). Mountain Province is acquiring Kennady,... 

Iron-ore gives South Africa’s January mining output a boost

By: Marleny Arnoldi     16th March 2018 Mining production increased by 2.4% year-on-year in January, bolstered by strong growth in iron-ore production and “other” non-metallic minerals, Statistics South Africa figures how. The January growth compares with a contraction of 0.5% in December. 

Russian diamond company Alrosa posts 28% profit fall

By: Reuters     16th March 2018 Russian diamond producer Alrosa suffered a sharp fall in core profit last year, hit by lower prices for its gems. The world's largest producer of rough diamonds said that earnings before interest, taxation, depreciation and amortisation (Ebtida) fell 28% to 126.9-billion roubles, broadly meeting... 

New platform to help resolve cross border mining services constraints 

By: Tracy Hancock     16th March 2018 There are two major challenges facing the supply of cross-border mining services in Africa – a lack of resources, such as skills and investment, and poor or nonexistent infrastructure – hindering the enormous growth in mining activity across Africa, says Cross-Border Mining Services Indaba... 

New platform to help resolve cross border mining services constraints
Cross-Border Mining Services Indaba conference manager Ros Hinchcliffe discusses the value of the inaugural event. Camerawork and Editing: Nicholas Boyd.

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

Gem recovers 169 ct diamond at Letšeng

By: Reuters     14th March 2018 LSE-listed Gem Diamonds has recovered a 169 ct to white colour Type IIa diamond at its Letšeng mine, in Lesotho. This is the seventh diamond larger than 100 ct recover at the mine so far this year. 

Anglo commits to ambitious sustainability strategy

By: Martin Creamer     14th March 2018 Diversified mining company Anglo American has outlined an innovative approach to three major areas of sustainability - the environment, community development, and driving greater trust and transparency across the mining industry. 

Anglo commits to ambitious sustainability strategy
Photo by Creamer Media
Mark Cutifani

Tsodilo says DMS plant delivering results

By: Megan van Wyngaardt     13th March 2018 TSX-V-listed Tsodilo Resources has processed 724.7 t through the dense media separation (DMS) plant at its BK16 kimberlite project in Botswana, since commissioning the plant on January 18. This represented 141 samples out of a total of 243 or 6% of the tonnage. These 141 samples have generated 2... 

Botswana Diamonds starts drilling at Ontevreden kimberlite pipe

By: Simone Liedtke     13th March 2018 Aim-listed Botswana Diamonds has started drilling at the Ontevreden kimberlite pipe, which is part of the company’s Vutomi’s Joint Venture in South Africa and which contains significant quantities of G10 and G9 garnets. “We are pleased to announce the commencement of drilling at the Ontevreden... 

Gem sells 910 ct Lesotho Legend for $40m

By: Megan van Wyngaardt     13th March 2018 The “exceptional quality” 910 ct D-colour Type IIa diamond recovered from LSE-listed Gem Diamonds’ Letšeng mine, in Lesotho, in January, achieved a price of $40-million on tender in Antwerp, on Monday.  Reflecting its significance, the diamond, which is the fifth-largest gem-quality diamond ever... 

Gem sells 910 ct Lesotho Legend for $40m
Photo by Gem Diamonds
The Lesotho Legend

Diamcor seeks more project efficiencies as Krone-Endora at Venetia water runs low

By: Henry Lazenby     13th March 2018 Explorer Diamcor Mining has launched a nonbrokered private placement worth C$5-million in an effort to address the insufficient recoveries of water from the settling dams at its Krone-Endora at Venetia project, in South Africa's Northern Cape province. The TSX-V-listed miner is finalising... 

Alrosa uses gas sale proceeds to repay loans

By: Creamer Media Reporter      12th March 2018 Diamond miner Alrosa has used the proceeds of the cash sale of its gas assets to repay $450-million in bank loans. The company announced on Monday that it had repaid a $250-million loan from Rosbank and a $200-million portion of its existing Raiffeisenbank loan, reducing its debt by more than 27%... 

Stellar Diamonds agrees to acquisition by Australia’s NWF

By: Megan van Wyngaardt     12th March 2018 Australian exploration company Newfield Resources (NWF) and Africa-focused miner Stellar Diamonds have reached an agreement regarding NWF’s proposed acquisition of Stellar’s entire issued and to be issued share capital for £7.74-million. The ASX-listed company owns an advanced diamond project in... 

Shareholders to vote on Mountain Province, Kennady Diamonds merger on April 9

By: Marleny Arnoldi     9th March 2018 Shareholders of TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds and exploration group Kennady Diamonds will, on April 9, take a vote on whether to approve the merger of the companies.  

Beny Steinmetz's mining firm BSGR enters administration to protect itself 

By: Reuters     8th March 2018 Mining company BSG Resources (BSGR) on Wednesday said it had voluntarily entered into administration, adding it had taken the decision to protect itself as it faces legal action. BSG Resources, the mining arm of billionaire Beny Steinmetz's businesses, is caught up in legal disputes in relation... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

By: Henry Lazenby     7th March 2018 The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

South Africa's future 'just got a lot more positive', Anglo American CEO says

By: Reuters     7th March 2018 South Africa's future is looking "a lot more positive" since President Cyril Ramaphosa succeeded scandal-plagued Jacob Zuma last month, Anglo American's Chief Executive Mark Cutifani said on Wednesday. Mining companies and South Africa's government have been at loggerheads for years over... 

Alrosa ups February sales, reports on exploration developments

By: Creamer Media Reporter      7th March 2018 Russian diamond major Alrosa on Wednesday announced its latest diamond sales results and also reported on geological prospecting developments, including the reorganisation of its exploration unit. The company, which produces the world’s most diamonds in terms of volume, said that it had sold... 

Alrosa ups February sales, reports on exploration developments
Alrosa exploration

Frontier discovers first diamonds at Northern Cape project

By: Mariaan Webb     7th March 2018 Junior miner Frontier Diamonds, which started trading on the ASX in January, has recovered the first diamonds from its Bellsbank kimberlite pipe exploration project, near its Sedibeng diamond mine in South Africa’s Northern Cape province. The diamonds were recovered from a sample that was treated... 

Gem Diamonds recovers 152 ct diamond at Letšeng

By: Marleny Arnoldi     7th March 2018 Global diamond producer Gem Diamonds has recovered a 152 ct, top white colour Type IIa diamond from its 70%-owned Letšeng mine, in Lesotho.  

Gem Diamonds recovers 152 ct diamond at Letšeng
152 ct diamond recovered from Letšeng mine, in Lesotho

De Beers earns $555-million in second sales cycle

By: Marleny Arnoldi     6th March 2018 De Beers’ second sales cycle of the year saw the continuation of good rough diamond demand, with provisional sales of $555-million. CEO Bruce Cleaver says this is in line with expectations, following strong retail sales of diamond jewellery during the US holiday season and positive early signs... 

Mining-specific staff recruitment, management app developed 

By: Mia Breytenbach     6th March 2018 To refine and improve the execution of recruitment within the mining industry, mining and engineering professionals recruiter TrueVine Consulting has developed a new, innovative online recruitment platform, called Digger. “Digger is a digital recruitment, talent management and staff retention... 

Mining-specific staff recruitment,  management app developed
Innovative mining-specific staff recruitment, management app developed. Editing: Darlene Creamer and Christo Greyling.

Global metals exploration likely to rise 20% in 2018 – S&P Global

By: Henry Lazenby     5th March 2018 Global mining exploration budgets are expected to swell about 20% in 2018, bolstered by the generally positive trend in metals prices extending into early 2018, a new report by S&P Global Market Intelligence has found. Global spending on the search for nonferrous metals rose 15% year-on-year in... 

Global metals exploration likely to rise 20% in 2018 – S&P Global

Stellar trusting Newfield deal to provide Tongo-Tonguma funding

By: Megan van Wyngaardt     5th March 2018 Aim-listed Stellar Diamonds has, over the past six months, continued to focus on sourcing the necessary funding to bring its Tongo-Tonguma project, in eastern Sierra Leone, into production. "The capital markets in the UK have proven extremely difficult to raise funds for junior mining companies... 

Lucapa sells $1.7m diamond parcel from Lulo

By: Megan van Wyngaardt     5th March 2018 Angola-focused diamond miner Lucapa Diamond Company sold 2 072 ct of diamonds recovered from the Lulo mine, achieving gross proceeds of $1.7-million during its second sale for the year. This represented an average price per carat of $804. The ASX-listed miner said the largest diamond in the sale... 

Lucapa sells $1.7m diamond parcel from Lulo

MTE celebrates 25 years of success

By: Nadine James     2nd March 2018 Travelling exhibition specialist MTE celebrates its twenty-fifth anniversary this year, and the company – founded by Tony Wightman in 1993 – owes its success to its deep engagement with the mining industry, subsequently enabling MTE to establish long-standing relationships with mines and... 

A proposal to the President - A six-point plan

2nd March 2018 South Africa's minerals and mining industry faces severe headwinds. The Republic of South Africa hosts a treasure trove of geology and minerals, valued at about $2.5-trillion. Without modern exploration, prospecting, and new local and foreign investment, these resources will not be developed for... 

A proposal to the President - A six-point plan

BlueRock sets production target at between 9 500 ct and 12 500 ct for 2018

By: Creamer Media Reporter      1st March 2018 Aim-listed BlueRock Diamonds expects to treat in excess of 275 000 t of material this year, compared with the 153 147 t treated in 2017. The company, which operates the Kareevlei mine, in South Africa’s Kimberley region, on Thursday also noted that it expects to achieve an average grade of 3.5... 

Stellar completes tribute mining agreement over Sierra Leone project

By: Creamer Media Reporter      1st March 2018 West Africa-focused Stellar Diamonds has completed its tribute mining and revenue sharing agreements with Octea Mining in respect of the Tongo-Tonguma project in Sierria Leone. The completion follows the satisfaction or waiver of the conditions precedent to the agreements. 

Zimbabwe expects mineral revenue to rise to $1.78bn in 2018

By: Reuters     27th February 2018 Zimbabwe expects to earn $1.78-billion from mineral sales in 2018, up from $1.5-billion last year, Masimba Chandavengerwa, chief executive of the government marketing agency, told a mining conference on Tuesday. Political changes that saw former president Robert Mugabe step down last year after... 

Resounding welcome for Gwede, who declines opportunity to comment

By: Martin Creamer     27th February 2018 New South African Mineral Resources Minister Gwede Mantashe has received a resounding welcome from the Chamber of Mines of South Africa, Business Leadership South Africa (BLSA) and mining luminaries. The Chamber of Mines of South Africa has welcomed the appointment of Mantashe, 62, describing him... 

Resounding welcome for Gwede, who declines opportunity to comment
Photo by Duane Daws
Incoming Mineral Resources Minister Gwede Mantashe

More strides taken towards BK16 production - Tsodilo

By: Megan van Wyngaardt     26th February 2018 The first consignment of 43 drums of concentrate from the BK16 kimberlite project, in Botswana, have been securely moved to TSX-listed Tsodilo Resources' final recovery area in its security complex in Maun. This followed the January 18 commissioning of a dense media separation (DMS) plant at... 

Lucara buys digital sales platform, refreshes board

By: Megan van Wyngaardt     26th February 2018 Botswana-focused miner Lucara Diamond has acquired Clara Diamond Solutions, a company whose primary asset is a secure, digital sales platform aimed at transforming how rough diamonds are sold. Lucara noted that the platform would unlock value for diamond producers and manufacturers alike. 

Finland takes top spot for mining-friendly investment 

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Finland takes top spot for mining-friendly investment

Namibia mining sector is investor friendly

By: Victor Moolman     23rd February 2018 The Namibian mining sector has become more investor friendly than South Africa, as the country has clear policies that have been consistently applied, explains Sandton-based law firm Webber Wentzel partner Jonathan Veeran. Namibia has four policies governing mining and mineral prospecting: the... 

Namibia mining sector  is investor friendly
Photo by Duane Daws
NEW IN NAMIBIA Namibia has attracted investment in new mining ventures, including new uranium mines

De Beers unit’s density measurement system now commercially available

By: Mia Breytenbach     23rd February 2018 De Beers Group of Companies’ innovation division De Beers Technologies South Africa (DebTech SA) has developed a novel density measurement system that can provide process plants with fast and accurate data on material density profiles of particle samples. The availability of this data, in turn,... 

De Beers unit’s density measurement system now commercially available
ACCURATE MEASUREMENT The RhoVol has a process rate of approximately 1 000 particles an hour, which is generally sufficient for a representative sample

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