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Diamonds News

Why Russia's market is rising after sanctions Bill approval

By: Bloomberg     27th July 2017 The US House has approved a bill hardening sanctions against Russia, but European resistance to some of its toughest new measures means the impact on companies will be muted, according to Goldman Sachs Group and Deutsche Bank. As it stands now, the most negative aspect of the bill for Russia,... 

Gemfields to delist July 28

By: Martin Creamer     27th July 2017 Coloured gemstones mining and marketing company Gemfields is expected to cease trading on the London Aim from 07.00 on Friday, July 28, when it will be delisted. Pallinghurst Resources, which is taking its associate company in-house, said on Thursday that it would begin making an offer to... 

De Beers’ Venetia mine launches multimillion-rand empowerment deal

By: Mia Breytenbach     26th July 2017 Diamond miner De Beers has announced the launch of a major empowerment deal related to the transportation of employees to and from its operations at the Venetia diamond mine, in Limpopo. In a high-impact, local procurement and empowerment initiative, Venetia mine, in partnership with VM Diamond... 

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Deputy Minister ‘uncomfortable’ at not being consulted
Photo by Duane Daws
Deputy Mineral Resources Minister Godfrey Oliphant

BlueRock pleased with ramp-up in production at Kareevlei

By: Creamer Media Reporter      26th July 2017 Production has continued to improve at Aim-listed BlueRock Diamonds’ Kareevlei mine, in Kimberley, with total tonnage for July expected to reach about 20 000 t, a 35% increase on the 14 427 t achieved in June. BlueRock is aiming for a monthly target of 25 000 t by the fourth quarter of this year. 

Stop moratorium now, NUM instructs DMR 

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

Rockwell postpones AGM

By: Henry Lazenby     26th July 2017 TSX- and JSE-listed diamond producer Rockwell Diamonds has delayed its annual general meeting (AGM) from August 23 to October 2. The company, which has three South African subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – has to file its business rescue plan by... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging  

By: Martin Creamer     25th July 2017 Kumba Iron Ore CEO Themba Mkhwanazi on Tuesday expressed concern about the mineral rights and mining transaction moratorium that has been gazetted by Mineral Resources Minister Mosebenzi Zwane, especially because it followed his agreement to suspend the implementation of Mining Charter Three... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging
Kumba Iron Ore CEO Themba Mkhwanazi reported a reinstatement of the dividend at the presentation of half-year results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video: Darlene Creamer. Video Editing: Lionel da Silva

Petra eyes double-digit growth in FY18 production

By: Natasha Odendaal     24th July 2017 Diamond miner Petra Diamonds has tabled a production guidance for the 2018 financial year of between 4.8-million and five-million carats, up 23% on the year ended June 30, 2017, on the back of the continued roll-out of expansion programmes. With continual increases in production, the company set... 

Alrosa's H1 diamond output up 14%

By: Mariaan Webb     24th July 2017 Russian mining giant Alrosa boosted its diamond production by 14% year-on-year in the first six months of 2017, as higher diamond grades were achieved from several pipes. The company produced 19.3-million carats of rough diamonds from the processing of 16.9-million tons of ore and sand. 

Alrosa's H1 diamond output up 14%
Alrosa's Nyurba operation

ASA Resources to sell Klipspringer mine

By: Anine Kilian     24th July 2017 Aim-listed ASA Resources’ 73%-owned subsidiary SouthernEra Diamonds will sell its Klipspringer diamond mine, in South Africa, to mining exploration company Greenhurst Mining for R23-million. Klipspringer has been making a loss of at least R1-million a month. 

Diamonds bring new life to war-torn Central African Republic

By: Bloomberg     24th July 2017 Rough diamonds enabled Abdoul Raouf to marry three women and put his nine children through school. Now that his town in western Central African Republic can legally export the gems to world markets again, his neighbors are expecting similar fortunes. “Diamonds are my life,” said Raouf, who trades... 

Moratorium infers intention to circumvent agreement – Leon 

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Lack of confidence in black businesses cripples development

By: Nadine James     21st July 2017 Materials handling and alternative mining solutions expert Ncamiso Mining is expanding its presence in Welkom, where it sees strong potential to grow and support local black-owned and black economic-empowerment (BEE) entities across the various needs of their operations in the area. However,... 

Lack of confidence in black businesses cripples development
SYMBIOTIC RELATIONSHIP The sharing of knowledge and experience would prove invaluable to black-owned companies and, ultimately, benefit all the businesses in the mining sector

Social media fuelling illicit diamond trade in Central African Republic – report

By: Ilan Solomons     21st July 2017 A new undercover investigation by international watchdog organisation Global Witness has uncovered how diamond smugglers are making use of social media platforms as they seek to get diamonds linked to the ongoing violent conflict in the Central African Republic (CAR) out of the country and into... 

Social media fuelling illicit diamond trade  in Central African Republic – report
Photo by Global Witness
CONFLICT MINERALS It is critical that the trade in CAR’s natural resources be given a prominent role in efforts to find peace, as they have played a role in fuelling the conflict itself

Geophysical techniques touted as ideal for alluvial diamond exploration

By: Ilan Solomons     21st July 2017 Ground geophysical surveys have been carried out by the Council for Geoscience (CGS) on a farm that hosts an alluvial diamond mining operation near Schweizer-Reneke, in the North West. The North West is host to what were previously known as the Southwestern Transvaal diamond fields. The surveys... 

Geophysical techniques touted as ideal  for alluvial diamond exploration
Photo by Steyn Diamante
IN SEARCH OF ALLUVIALS The surveys was intended to assess the effectiveness of geophysical techniques for alluvial diamond exploration

Charter’s BEE ‘top-up’ provision may be unconstitutional

     21st July 2017 The new “top-up” provision in the latest Mining Charter gazetted on June 15, may prove to be unconstitutional and may lead to further expensive legal action by the mining industry, states Fasken Martineau partner and global mining group member Nicola Jackson. In a statement published on June 15,... 

Charter’s BEE  ‘top-up’ provision may be unconstitutional
GOVERNMENT PAYING LIP SERVICE? The controversial Mining Charter’s new procurement targets stipulate that 80% of services be performed by black economic-empowerment entities

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Diamond output leap helps Anglo
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Alrosa discovers two large diamonds

By: Mariaan Webb     20th July 2017 Russian diamond major Alrosa has discovered two large diamonds this week, one of which weighs nearly 110 ct and the other a 75 ct stone. The larger of the two diamonds was recovered at the No 3 processing plant of the Mirny mining and processing division on Tuesday, and the other diamond was... 

A decade since global financial crisis, diamond industry yet to re-test 2011 summer highs

By: Henry Lazenby     19th July 2017 This year marks ten years since the start of the global financial crisis in 2007, an event that shook global markets to the core and precipitated a changed market landscape for many commodities, including diamonds. With this in mind, independent diamond industry analyst and consultant Paul... 

A decade since global financial crisis, diamond industry yet to re-test 2011 summer highs

Pallinghurst setting out to revitalise Gemfields as 100% owner

By: Martin Creamer     19th July 2017 Owning 100% of Gemfields will allow diversified mining company Pallinghurst to revitalise the coloured gemstones mining and marketing entity and to unlock synergies, Pallinghurst CEO Arne Frandsen said on Wednesday, when the London Stock Exchange aspirant commenced its compulsory take up of the... 

Pallinghurst setting out to revitalise Gemfields as 100% owner
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen

Rockwell’s business rescue plan to be published by September 30

By: Natasha Odendaal     18th July 2017 The business rescue plan of troubled dual-listed alluvial diamond miner Rockwell Diamonds will be published by September 30. The business rescue process of Rockwell’s three South African subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – is ongoing. 

Firestone Diamonds’ Liqhobong mine reaches quarterly targets

By: Anine Kilian     17th July 2017 Aim-listed Firestone Diamonds’ Lesotho-based Liqhobong diamond mine treated 925 000 t of material in the quarter ended June 30. This brings the total for the financial year to 1.97-million tonnes, the company said in a statement on Monday.   

Nine recommended improvements should charter renegotiation ensue

By: Martin Creamer     17th July 2017 The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert... 

Nine recommended improvements should charter renegotiation ensue
Photo by Duane Daws
Herbert Smith Freehills Africa partner and co-chair Peter Leon

Botswana Diamonds’ Vutomi licences extended adjacent to Frischgewaagt

By: Natasha Odendaal     17th July 2017 Dual-listed Botswana Diamonds has been granted a prospecting licence over an additional 1 000 ha immediately east of and contiguous to its Frischgewaagt project, in South Africa. The explorer’s current drilling programme, which is expected to start within weeks, will be extended into the new... 

Dominion is said to seek sweeter deal from Montana billionaire

By: Bloomberg     15th July 2017 Canada’s Dominion Diamond Corp is hoping Montana billionaire Dennis Washington will cough up a little more cash to buy the world’s third-largest producer of rough diamonds by value. However, the company – which has put itself on the block twice in the past two years – says there’s no guarantee a... 

Having stemmed flow of conflict diamonds, new WDC acting president to stay course

By: Henry Lazenby     15th July 2017 The World Diamond Council (WDC) will stay its course, focused on its primary mission of curbing the trade in conflict diamonds, under new acting president Stephane Fischler, who took the helm on July 1 from Andrey Polyakov, who has resigned. “We have succeeded in almost totally eradicating... 

Having stemmed flow of conflict diamonds, new WDC acting president to stay course
Photo by Global Witness
A Central African Republic conflict diamond operation

Chamber wins round one in battle against mining charter

By: Martin Creamer     14th July 2017 In what is a clear first round victory for the Chamber of Mines of South Africa against the errant Department of Mineral Resources (DMR), Mineral Resources Minister Mosebenzi Zwane has agreed to suspend the implementation of the controversial Mining Charter Three until after the High Court has... 

Chamber wins round one in battle against mining charter
Chamber CEO Roger Baxter – chamber wins first round in fight against devastating Mining Charter Three

Kimberlite discovered on Vutomi licence

By: Anine Kilian     14th July 2017 Aim-and BSE-listed Botswana Diamonds has identified a Group 2 kimberlite pipe at its Ontevreden licence, in South Africa’s North West province, which is held by diamond deposit explorer Vutomi. Initial work indicates an area of between 1.5 ha and 2.5 ha containing high-interest garnets.   

Rough diamond market stable – Alrosa

By: Creamer Media Reporter      14th July 2017 Diamond mining major Alrosa has sold $2.497-billion worth of rough and polished diamonds in the first six months of 2017. Rough diamond sales comprised $2.442-billion of the total sales. 

Historic diamond hub feels the brunt as Americans buy fewer gems

By: Bloomberg     14th July 2017 An ugly year for diamonds in the vital US market is piling pressure on Europe’s historic center of the $80-billion global trade. Diamond trading companies in the Belgian port city of Antwerp, which has been the industry’s trading capital for five centuries, were already feeling the pinch from a... 

Historic diamond hub feels the brunt as Americans buy fewer gems
The Antwerp Diamond Bank is exiting the business.

Alrosa reaffirms investments in projects in Angola, at home

By: Keith Campbell     14th July 2017 Russian diamond miner Alrosa has reaffirmed its confidence in the future of diamond mining in Angola. “We see a lot of potential in our infrastructure projects, including those in Angola,” stated Alrosa president Sergey Ivanov at the groups’ Annual General Meeting (AGM) at the end of last month.... 

Initiatives launched to probe unexploited potential of diamond-bearing gravel deposits, other minerals

By: Ilan Solomons     14th July 2017 The South African mining sector is currently facing a decline and in an attempt to stimulate and support renewed mining activities, the Council for Geoscience (CGS) has launched a number of projects funded by the Department of Energy (DoE) aimed at investigating the unexploited potential of... 

Initiatives launched to probe unexploited potential of  diamond-bearing gravel deposits, other minerals
Photo by Steyn Diamante
DIAMOND FOCUS One of the Council for Geoscience project aims is to investigate the mining potential of diamondiferous gravel deposits in the North West and Northern Cape provinces

Mining Charter Three unpacked ahead of court hearing

By: Mia Breytenbach     14th July 2017 Ahead of the High Court of South Africa’s hearing, on July 18, to decide on an interdict to halt the implementation of the revised Mining Charter, Deloitte Africa Energy and Resources leader Andrew Lane last week said the mining industry had to take a broader view of the charter, focus and... 

Mining Charter Three unpacked ahead of court hearing
Photo by Duane Daws
MOSEBENZI ZWANE Zwane published the Mining Charter on June 15, which was received with much turbulence and controversy

Mining ups y/y output in May, but down again month on month

By: Mia Breytenbach     13th July 2017 South Africa’s headline mining production grew 3.6% year-on-year in May, but contracted -0.2% from the downwardly revised month-on-month decrease in April over March, of -1.4%. The three largest positive contributors to the headline improvement in mining activity came from iron-ore production,... 

Stornoway missing out on improved market price for Renard diamonds; completes ramp-up

By: Henry Lazenby     12th July 2017 Canadian diamond producer Stornoway Diamond Corp reveals that ongoing diamond breakage in the Renard process plant are reducing the proportion of larger diamonds available for sale and dimming revenues, while market sentiment for Renard’s precious gems is on the up. The Longueuil, Quebec-based... 

Stornoway missing out on improved market price for Renard diamonds; completes ramp-up
Photo by Stornoway Diamond Corp
Renard diamonds, Quebec

Chamber’s interdict application likely to succeed – attorney

By: Nadine James     12th July 2017 Mining industry employers’ organisation Chamber of Mines’ (CoM’s) urgent interdict application to halt the implementation of the third iteration of the Mining Charter – published by Mineral Resources Minister Mosebenzi Zwane on June 15 – is likely to succeed, says Webber Wentzel partner Rita... 

Chamber’s interdict application likely to succeed – attorney
Photo by Ilan Solomons
Mineral Resources Minister Mosebenzi Zwane

Miners rewarded for improved capital discipline

By: Henry Lazenby     11th July 2017 Increased cash flows, merger and acquisition (M&A) activity and new debt issues have helped many of the world’s top miners strengthen their balance sheets in 2016, reflecting miners’ response to investor messages around capital discipline, according to new analysis from PwC Canada. "As the global... 

Miners rewarded for improved capital discipline

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