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Diamonds News

De Beers’ eighth sales cycle nets $370m

By: Anine Kilian     17th October 2017 Diamond miner De Beers reported revenue of $370-million for its eighth rough diamond sales cycle of this year. This was lower than the $494-million in revenue earned in the eighth sales cycle of 2016. 

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates

By: Henry Lazenby     17th October 2017 Canadian alluvial diamond miner Rockwell Diamonds, which had its origins within Vancouver-based mining house Hunter Dickenson, has reported a noncash comprehensive income of C$23.2-million for the second quarter ended August 31. The result is based almost entirely on the reversal of foreign... 

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates
Photo by Rockwell Diamonds
Rockwell Diamonds' Niewejaarskraal operation in better days

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Exploration, junior culture needed to save mining – Bristow
Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Stellar agrees to sell Guinea assets for $1.25m

By: Anine Kilian     16th October 2017 West Africa-focused Stellar Diamonds and BDG Capital have agreed on a final purchase price of $1.25-million for Stellar’s Guinea assets. This follows the completion of a due diligence by BDG. 

Stornoway reports Q3 sales, price growth as it breaks ground in quest to solve breakage issue

By: Henry Lazenby     13th October 2017 Quebec’s sole diamond operator Stornoway Diamond Corp has reported strong third-quarter production and sales results, despite a rough market correction at the end of the quarter that served to slow the rate of increase. Earlier this week, the Longueuil, Quebec-based company reported production... 

Stornoway reports Q3 sales, price growth as it breaks ground in quest to solve breakage issue

Tanzanian mining sector facing tough times

     13th October 2017 The Tanzanian mining sector has been hardest hit by regulatory changes in the country, with investors in other sectors also adopting a more cautious stance, which will present headwinds to growth in the long term, says research firm BMI Research. A recent dispute between the Tanzanian government... 

Tanzanian mining sector  facing tough times
Photo by Duane Daws
MINING DIFFICULTIES Recent regulatory changes have increased the difficulties of mining in Tanzania

Diamond struggles in Tanzania

     13th October 2017 Owing to the possible loss of revenue at London-listed Petra Diamonds’ operation in Tanzania, it is likely that the mining company will have to seek a waiver from its banking consortium, as it has in the past, for its December 2017 bank covenant test. This is according to credit ratings firm... 

Diamond struggles in Tanzania
Photo by Duane Daws
MINE CARE AND MAINTENANCE Petra Diamonds’ Williamson mine, in Tanzania, may be put on care and maintenance

Angola grants gold exploration concession as it seeks to diversify economy

By: Keith Campbell     13th October 2017 A public/private partnership (PPP) has been granted a concession to prospect for gold in the Angolan province of Cabinda, the Macauhub news agency has reported. The PPP is named Mongo Mongo Mineração Limitada (Mongo Mongo Mining Limited). Its shareholders are the State-owned Empresa Nacional de... 

From diamond discoveries in Liberia to farming metals in SA 

     12th October 2017 While South Africa-born professor Stephen Haggerty is making new discoveries to help bolster the development of Liberia’s first diamond mine, he is urging South Africans to farm for metals to extract value from previously mined ground. Mining Weekly editor Martin Creamer joins senior deputy... 

From diamond discoveries in Liberia to farming metals in SA
From diamond discoveries in Liberia to farming metals in SA

South African mining production surges 6.9% in August, exceeds expectations

By: African News Agency      12th October 2017 Mining production in South Africa increased by 6.9% year-on-year in August whilst seasonally adjusted mining production increased by 5.3% in the same month compared with July, Statistics South Africa (StatsSA) said on Thursday. StatsSA said the biggest contributors to the jump in production were... 

Alrosa to auction large rough diamonds in Vladivostok

By: Creamer Media Reporter      12th October 2017 Russian diamond major Alrosa said on Wednesday that it would put up for sale 1 170 ct of large rough diamonds at an auction in Vladivostok later this month. The diamonds all weigh more than 10.8 ct each and would be sold in 72 gem-quality lots. The largest diamond weighs 47.55 ct. 

South Africa should consider agromining – US professor 

By: Martin Creamer     11th October 2017 South Africans, who have been mining for metals for more than a century, were this week urged to farm for metals. South African-born Stephen Haggerty, a distinguished research professor of Florida International University in the US who spoke to Mining Weekly Online while in Johannesburg, outlined... 

South Africa should consider agromining – US professor
Florida International University distinguished research professor Stephen E Haggerty talks to Mining Weekly Online’s Martin Creamer on the potential to farm for metals. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva.

Alrosa’s Sept sales down 32% y/y

By: Mariaan Webb     11th October 2017 Russian diamond major Alrosa sold $309.7-million worth of rough and polished diamonds in September – a 32% decrease on its sales in the same month last year. Rough diamond sales amounted to $305.8-million and polished diamond sales to $3.9-million, compared with year-earlier sales of... 

Water recovery issue hamstrings throughput potential at Diamcor’s Krone-Endora at Venetia

By: Henry Lazenby     11th October 2017 Borehole water quality and the excessively suspensive properties of the extremely fine kimberlitic clay materials of the Krone-Endora at Venetia project, in South Africa, have conspired to constrain the improved potential throughput, project owner Diamcor Mining of Kelowna, in British Columbia,... 

Trans Hex to lift interest in WCR to 67.2%

By: Anine Kilian     9th October 2017 JSE-listed Trans Hex will acquire a further 27.2% shareholding in West Coast Resources (WCR) from investment company RAC for R39.1-million. The acquisition will be settled through the issue of 9.4-million new Trans Hex shares. 

Hopes for Liberia’s first diamond mine rise on general election 

By: Martin Creamer     9th October 2017 This year's discovery of two new additional diamond-bearing pipes that are satellites to an earlier-discovered main diamond-bearing kimberlite pipe have boosted hopes for the establishment of the first diamond mine in Liberia, where artisanal activity has been the mainstay of diamond recovery in... 

Hopes for Liberia’s first diamond mine rise on general election
Florida International University distinguished research professor Stephen E Haggerty outlines Liberia’s diamond prospects to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva

Petra Diamonds warns of possible breach of lending covenants

By: Anine Kilian     9th October 2017 LSE-listed Petra Diamonds on Monday warned shareholders it was likely to breach lending covenants at the end of this year owing to labour disruptions at its South African mines and uncertainty around sales volumes from its Williamson mine, in Tanzania. The company last month said two earnings... 

Lucapa raises funds for second mine

By: Esmarie Swanepoel     9th October 2017 Diamond miner Lucapa Diamond Compnay has secured a $15-million finance facility to develop Phase 1 of its Mothae kimberlite diamond project, in Lesotho. The three-year debt facility has been arranged with a private Singaporean company, and will be repayable in eight quarterly payments starting... 

South African mining industry still not spending enough on R&D

By: Mia Breytenbach     6th October 2017 While South Africa has increased its investment in mining research and development (R&D) since 2014, the country’s investment is still below that of its peers, delegates heard during a panel discussion on ‘Technological Innovation and Advancements in the Mining Industry’ at the Joburg Indaba, on... 

South African mining industry still not spending enough on R&D
Photo by Duane Daws
DRA Group CEO Wray Carvelas

Strong sentiments from 2017 Joburg Indaba  

     6th October 2017 This year’s Joburg Indaba kicked off with strong sentiments from government and industry players. Mining Weekly editor Martin Creamer attended speaks to Creamer Media's Sashnee Moodley about the highlights. 

Strong sentiments from 2017 Joburg Indaba
Strong sentiments from 2017 Joburg Indaba

Vacuum technology for secure conveyance

By: Marleny Arnoldi     6th October 2017 It is often more beneficial to use vacuum technology for material conveyance in mineral and metal processing plants, compared with traditional conveyors, as material is sealed inside an enclosed pipe, preventing potential spillages.  

Vacuum technology  for secure conveyance
VACUUM SECURITY There is scope for using vacuum conveyor technology in specialised applications, such as diamond conveyance, for greater efficiency and security

Capital-saving solutions for crushing and screening

     6th October 2017 Rising commodity prices reinvigorate the potential of new mining projects, but raising enough finance still remains a challenge; however, crushing and screening plants specialist B&E International has a toll model that reduces capital demands on mining entrepreneurs. “This concept appeals to the... 

Company investing in new tech despite challenging market

By: Tasneem Bulbulia     6th October 2017 Mining solutions provider Harcliff Mining Services has installed a German-made Hӧfler Rapid 2000 cylindrical gear grinding machine at its manufacturing facility in Gauteng, South Africa. The machine, bought from Switzerland-headquartered Swiss-German gear technology company Klingelnberg Group was... 

Company investing in new tech despite challenging market
ON THAT GRIND The Hӧfler Rapid 2000 cylindrical gear grinding machine manufactures high-accuracy pinions for mill and kiln open gearing applications

Botswana Diamonds ‘the only company’ exploring for kimberlites in South Africa

By: Dylan Slater     6th October 2017 Diamond mining and exploration company Botswana Diamonds “has South Africa to itself” in terms of exploring for new and undiscovered kimberlites, as no other major exploration projects are currently under way, according to MD James Campbell.  

Generous De Beers bursaries for varsity students

By: Ilan Solomons     6th October 2017 When Ndlaleni Prudence Mkwanazi applied for tertiary education financial assistance from diamond company De Beers’ Voorspoed diamond mine, in Free State, earlier this year, little did she anticipate the great news she would receive. After all, the financial assistance programmes that she... 

Generous De Beers bursaries  for varsity students
Photo by De Beers
NDLALENI PRUDENCE MKWANAZI A hard worker with big dreams to achieve in her life, Mkwanazi obtained ten distinctions during her first year of study in 2016

De Beers launches business incubator to promote SMMEs near Limpopo operations

By: Mia Breytenbach     6th October 2017 Diamond company De Beers has officially launched its second business incubator near its Venetia diamond mine operations in Limpopo. The incubator’s accelerated development programme aims to promote upcoming entrepreneurs, as well as small, medium-sized and microenterprises (SMMEs) from mining... 

De Beers launches business incubator to promote SMMEs near Limpopo operations
INCUBATION UNDER WAY The incubation programme started last month, with workshops targeting existing and aspiring entrepreneurs that have initiatives across the business spectrum

De Beers’ diamond exploration grinding to halt on government issues 

By: Martin Creamer     5th October 2017 The exploration programme of De Beers Consolidated Mines (DBCM) is grinding to a halt owing to the ongoing issues the iconic diamond mining company is experiencing with South Africa’s Department of Minerals Resources (DMR). With the hold-up of as many as 54 prospecting licence applications for as... 

De Beers’ diamond exploration grinding to halt on government issues
De Beers Consolidated Mines CEO Phillip Barton talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Rip up charter, provide tax incentives, back junior miners – Maimane 

By: Martin Creamer     4th October 2017 Mining Charter Three should be ripped up, proper tax incentives introduced and junior mining enterprises supported to restore investment in the mining industry, which is a stimulator of the South African economy as a whole, Opposition Democratic Alliance leader Mmusi Maimane said on Wednesday.... 

Rip up charter, provide tax incentives, back junior miners – Maimane
Opposition Democratic Alliance leader Mmusi Maimane, addressing delegates at the Joburg Indaba conference. Camerawork: Nicholas Boyd. Editing: Lionel da Silva.

Alrosa starts removing ore from Verkhne-Munskoe deposit

By: Mariaan Webb     4th October 2017 Russian diamond miner Alrosa has started removing ore from the Verkhne-Munskoe kimberlite field, in Saskha, to confirm the diamond content as it works towards a 2018 production starting date for the project. The Verkhne-Munskoe deposit – Alrosa’s largest investment project –contains for... 

Alrosa starts removing ore from Verkhne-Munskoe deposit
The ore will be processed at the Udachny No 12 plant.

Kennady reports maiden 5.02m ct resource for Faraday kimberlites

By: Henry Lazenby     4th October 2017 Explorer Kennady Diamonds has reported a maiden inferred resource for the Faraday kimberlites near the Gahcho Kué mine, in Canada’s Northwest Territories of more than 5.02-million carats. The Toronto-headquartered company, the exploration spinout of Mountain Province Diamonds, on Tuesday reported... 

Firestone recovers its largest diamond to date

By: Natasha Odendaal     3rd October 2017 Aim-listed Firestone Diamonds has recovered its largest diamond to date – a 134 ct gem-quality light yellow diamond – from its Liqhobong mine, in Lesotho. The company believes the recovery, which is the second 100 ct-plus diamond recovered since production started, reinforced the potential for... 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

‘Material, newsworthy’ diamond finds on the rise – analyst
Photo by Lucara Diamond Corp
Lucara Diamond Corp recovered the 1 111-ct ‘Lesedi La Rona’ in November 2015

Stornoway upbeat on possible solution to lower Renard diamond breakage

By: Henry Lazenby     2nd October 2017 Ongoing diamond breakage in the Renard process plant is reducing the proportion of larger diamonds available for sale and dimming revenue prospects for Quebec-focused miner Stornoway Diamond Corp, at a time when market sentiment for Renard’s precious gems is on the rise. However, president, CEO... 

Stornoway upbeat on possible solution to lower Renard diamond breakage
Photo by Stornoway Diamond Corp
The Renard openpit mine, Quebec's only diamond mine

Diamond stocks are crashing this year, but gem prices aren't

By: Bloomberg     2nd October 2017 It’s been a surprisingly ugly year for most diamond companies. Shares of small producers, mainly focused on mines in southern Africa and Canada, have tumbled more than 30 percent during the past year and each company seems to be embroiled in its own mess. 

Interest building in attractive tax incentive for mine owners

By: Martin Creamer     29th September 2017 Interest is building in the Section 12J of the Income Tax Act incentive structure introduced by Treasury to promote venture capital investments and stimulate growth and job creation in the South African economy, Mining Weekly Online can report. The aim of Section 12J is to encourage investment... 

Interest building in attractive tax incentive for mine owners
Photo by Jaltech
Possible structure for Section 12J tax incentive

Botswana Diamonds to start drilling newly discovered kimberlite this year

By: Anine Kilian     29th September 2017 Aim-listed Botswana Diamonds will start drilling at its recently discovered Ontevreden project, in South Africa, later this year. In a project update released on Friday, the company said sampling at the Ontevreden kimberlite had found abundant G10, G9 and eclogitic garnets typically seen in... 

Firestone sells 195 330 ct in latest diamond sales

By: Natasha Odendaal     29th September 2017 Aim-listed Firestone Diamonds sold 195 330 ct of diamonds during its latest diamond sales, held in July and September, in Antwerp, netting about $13.5-million in proceeds. The company attributed the drop in the average realised value from $107/ct to an average value of $69/ct to the continued... 

Stakeholder cohesion crucial to change trajectory of South African mining

By: Robyn Wilkinson     29th September 2017 Chamber of Mines of South Africa (CoM) CEO Roger Baxter will consider the role that the CoM and mining companies can play in increasing investment in South Africa’s mining sector, despite current challenges, by creating an enabling business environment through the building of trust between mining... 

Stakeholder cohesion crucial to change trajectory of South African mining
ROGER BAXTER Key to encouraging cohesion between mining stakeholders is a continued commitment to driving transformation in the industry at all levels

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