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Diamonds News

De Beers sets higher output target for 2018

By: Simone Liedtke     22nd February 2018 Global diamond miner De Beers has set a production target of as high as 36-million carats for 2018. In its 2017 results announcement the Anglo American subsidiary reported a production guidance of 34-million carats to 36-million carats, which compares with 33.45-million carats produced in 2017. 

Lucara's FY17 profit dips 8% on lower sales

By: Henry Lazenby     22nd February 2018 Southern Africa-focused miner Lucara Diamond Corp has reported an 8% drop in full-year profit as lower production and the sale of fewer special diamonds weighed on the bottom line. The Vancouver-based miner, which operates its flagship Karowe mine, in Botswana, reported net income of... 

Contractors start FEED study at Stellar’s Sierra Leone project

By: Creamer Media Reporter      20th February 2018 The front-end engineering and design (FEED) study for the underground mine development at Aim-listed Stellar Diamonds’ Tongo-Tonguma project, in Sierra Leone, is now under way. Stellar on Tuesday said a team of five consultants from contractors Paradigm Project Management (PPM) and SRK Consulting... 

Strikes, currency strength push Petra to H1 loss

By: Dylan Slater     19th February 2018 Strike action at some of its South African mines, currency strength and the inability to sell a parcel of diamonds from its Williamson mine, in Tanzania, negatively impacted on Petra Diamonds’ profitability in the six months ended December 31.  

Court postponement signals ‘welcome change’ in govt, industry relations – Leon

By: Dylan Slater     19th February 2018 Law firm Herbert Smith Freehills Africa practice cochairperson and partner Peter Leon says the postponement of Monday’s scheduled High Court case over the hotly contested Mining Charter 3, signals a welcome change in relations between government and the South African mining industry.  

Zimbabwe, Botswana set to sign diamond deal – report

By: News24Wire      19th February 2018 Zimbabwe is reportedly set to sign a diamond processing deal with Botswana within the next three months, after President Emmerson Mnangagwa met with his counterpart, President Ian Khama, this week in Gaborone. According to the state-owned Herald newspaper, Mnangagwa was in Botswana on a state visit. 

Alrosa reviews submissions for Mir reopening

By: Simone Liedtke     16th February 2018 Diamond miner Alrosa has opened a contest with a 1.5-million-rouble reward for the best solution to resume underground mining at its Mir deposit, where operations were suspended in August last year owing to a flood that killed eight people. The company said this week that it had received and... 

Mining mechanisation could create ‘massive’ employment challenges – Harwood 

By: Nadine James     16th February 2018 Despite positive sentiment and improving commodity prices, the African mining industry continues to face immense challenges, says Montero Mining and Exploration CEO Dr Antony Harwood. Addressing the African Mining Network’s (AMN’s) thirty-ninth networking dinner, on Thursday evening, he touched... 

Mining mechanisation could create ‘massive’ employment challenges – Harwood
Photo by Duane Daws
ANTONY HARWOOD Fear of the other could become fear of the robot

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

‘Digital mine’ solution for local market launched

By: Dylan Slater     16th February 2018 In tandem with the yearly mining investment conference Investing in African Mining Indaba, digital industrial company GE launched its global Digital Mine solution onto the South African market.  

There is new energy to ease mining industry conflict – Scholes

By: Mia Breytenbach     16th February 2018 There appears to be new political resolve to mend the relationship between the mining industry and the Department of Mineral Resources, says specialised law firm Malan Scholes director Hulme Scholes. Speaking at the IHS Markit South African Coal Export Conference, in Cape Town, on Thursday, the... 

There is new energy to ease mining industry conflict – Scholes
Photo by Duane Daws
HULME SCHOLES For the first time . . . we will see the trust deficit between the mining industry and department close

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 The global equity markets have been extremely volatile in recent weeks, extending a frantic selloff in US stocks that culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Botswana Diamonds undertakes scoping study at Thorny River

By: Megan van Wyngaardt     15th February 2018 Aim-listed Botswana Diamonds has started a scoping study to determine the commercial potential of the Thorny River diamond project, which is a consolidation of the Frischgewaagt, Hartbeesfontein and Doornrivier properties, in Limpopo. The six-month study will further refine the volumes of... 

Botswana Diamonds raises £500 000 for South Africa, Botswana exploration 

By: Creamer Media Reporter      14th February 2018 Aim-listed Botswana Diamonds has raised £500 000 to fund ongoing exploration in South Africa and Botswana. The funds were raised through the issue of 50-million shares to new and existing investors at a price of 1p a share. 

Mountain Province's diamond sales start the year on a high note

By: Henry Lazenby     14th February 2018 Mountain Province Diamonds' first diamond tender of the year broke all records in terms of revenue and customer activity. The TSX- and Nasdaq-listed company said the sale of 351 000 ct of rough diamonds has resulted in Mountain Province's highest revenue result to date, with total sale proceeds... 

Botswana Diamonds starts exploration work at Botswana JV, maintains exploration optimism

By: Mia Breytenbach     13th February 2018 Aim-listed Botswana Diamonds has started exploration work on the Sunland Minerals joint venture (JV), which it shares with Russian diamond producer Alrosa, in Botswana. The objective of the exploration programme is to follow up on 15 previously identified priority geophysical targets in PL232-235... 

Botswana Diamonds starts exploration work at Botswana JV, maintains exploration optimism
Photo by Duane Daws
Botswana Diamonds MD James Campbell

Mugabe's fall has veteran miners jockeying for Zimbabwe comeback

By: Bloomberg     13th February 2018 Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds. Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London... 

Alrosa sold diamonds worth $504.5m in January

By: Reuters     13th February 2018 Russia's Alrosa said on Monday it had sold rough and polished diamonds worth $504.5-million in January. Rough diamond sales had amounted to $499-million and polished diamond sales to $5.5-million, it said in a statement. 

Lucapa recovers first diamonds from Lesotho's Mothae mine

By: Simone Liedtke     12th February 2018 ASX-listed Lucapa Diamond Company has announced its first diamond recoveries from the Mothae kimberlite mine, which it owns in partnership with the government of Lesotho. The largest of the diamonds recovered in the first rest run was 6.6 ct. 

De Beers diamond venture puts Namibian mine on sale

By: Reuters     9th February 2018 Namdeb, a 50/50 joint venture between the Namibian government and Anglo American's diamond unit De Beers, has put the Elizabeth Bay Mine on sale, a company spokesperson said on Friday. The sale comes three weeks after the diamond miner wrote to staff offering voluntary redundancies that will... 

Shrinking gems are a headache for the diamond industry

By: Bloomberg     9th February 2018 The diamond industry has a size problem. Instead of splashing out on a ring or necklace featuring one big, bright diamond, shoppers are increasingly choosing pieces with several, smaller gems, which are often lower quality. And selling jewellery with smaller stones has been a good way for... 

Shrinking gems are a headache for the diamond industry

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

'Rarest white diamond ever' to be auctioned in London

By: Reuters     8th February 2018 A flawless diamond, the size of a large strawberry, is expected to fetch a world record price when it goes on sale at Sotheby's in London this month. Weighing just over 102 ct, the round, brilliant white stone is smaller than a 163-ct oval diamond sold in Hong Kong in 2013, which currently holds... 

Political shifts lift investor mood in Southern African mining

By: Reuters     8th February 2018 Mining is a long-term game, but in Southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year. Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of... 

Zimbabwe to consider waivers on platinum, diamonds ownership law

By: Bloomberg     8th February 2018 Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51% owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting... 

Big Mining Indaba thinking for 2019’s quarter-century milestone

By: Martin Creamer     8th February 2018 This year’s Investing in African Mining Indaba has just ended here and the organisers are already putting their thinking caps on to make next year’s twenty-fifth anniversary of the event a grand affair. The names Cyril Ramaphosa, Elon Musk and the top who’s who of global and African mining are... 

Big Mining Indaba thinking for 2019’s quarter-century milestone
Photo by Duane Daws
Investing in African Mining Indaba MD Alex Grose

Zimbabwe touts lithium, gold, diamonds potential at mining conference

By: African News Agency      7th February 2018 Zimbabwe's mineral resources have a huge potential to drive the economy in the future, with lithium, gold and diamonds seen leading the way, its mines minister Winston Chitando said. In a presentation to an annual conference on investing in African mining, running from February 5 to 8 in Cape... 

De Beers eyes Zimbabwe, Congo after gaining South African permits

By: Bloomberg     6th February 2018 De Beers may follow its resumption of exploration for diamonds in South Africa’s Northern Cape by looking in the longer term at opportunities in countries like Zimbabwe and the Democratic Republic of Congo. "I’m excited about what I’m seeing in Zimbabwe," said Phillip Barton, chief executive... 

Kennady embarks on 2018 winter drilling campaign

By: Henry Lazenby     5th February 2018 Takeover target Kennady Diamonds has started work on a 10 500 m 2018 winter drilling campaign at the Kennady North diamond project,  in Canada's Northwest Territories. Subject to a friendly C$176-million takeover offer by TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds that was... 

Mbazima urges immediate dialogue on rail, port expansion

By: Martin Creamer     5th February 2018 South Africa’s ability to revitalise crucial infrastructure, especially rail and port networks, is among the key actions needed to bring investment back into the South African mining industry, Anglo American South Africa deputy chairperson Norman Mbazima said on Monday. Speaking on first day of... 

Mbazima urges immediate dialogue on rail, port expansion
Photo by Duane Daws
Anglo American South Africa deputy chairperson Norman Mbazima

CoM sees resurgence in hope, green shoots in South African mining industry

By: Mia Breytenbach     5th February 2018 There is new sense of hope in the mining industry and in South Africa, says Chamber of Mines (CoM) CEO Roger Baxter. “It gives us a new confidence that a resurgence is taking place in the industry for the year ahead,” said Baxter, who spoke at a media briefing at the Investing in African Mining... 

CoM sees resurgence in hope, green shoots in South African mining industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter

Gem upbeat about number of large diamonds being recovered at Letšeng

By: Simone Liedtke     2nd February 2018 LSE-listed Gem Diamonds' CEO Clifford Elphick is pleased that the improvement in the recovery of greater than 100 ct diamonds at its Letšeng mine, in Lesotho, has continued into this year. "This is largely attributable to the ongoing technical improvements made at the Letšeng mine," he said on... 

BlueRock to defend itself against potential liquidation application

By: Simone Liedtke     2nd February 2018 Aim-listed diamond mining company BlueRock Diamonds says it has received notice that its former CEO Riaan Visser, and certain companies controlled by him, intend to apply to place the company's operating Kimberley-based subsidiary, Kareevlei Mining, in provisional liquidation.  The company has... 

Lucapa completes first sale of the year

By: Megan van Wyngaardt     2nd February 2018 ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes and Rosas & Petalas have completed the first sale for 2018 from the Lulo diamond project in Angola, for this year. The sale of 4 170 ct of Lulo diamonds achieved proceeds of $9.14-million, representing an exceptional... 

Coloured gemstones market poised to increase from $2bn to R10bn in next decade

By: Nadine James     2nd February 2018 Diamonds are not rising in value, observes market commenting platform Safehaven, adding that better value could be derived from coloured stones such as rubies, emeralds and sapphires. The organisation notes that gemstone prices, which have been increasing steadily in the last decade, could... 

Coloured gemstones market poised to increase  from $2bn to R10bn in next decade
GOING GREEN Emeralds and other gemstones may displace diamonds in future

Angola’s diamond sector expanding with Russian help

By: Rebecca Campbell     2nd February 2018 Angola’s Sociedade Mineira de Catoca (Catoca Mining Company) is expecting to produce seven million carats of diamonds this year. This was stated by company GM Sergei Amelin, the Macauhub news agency reported. He was speaking in the city of Saurimo, which is the capital of Lunda Sul province,... 

Stellar Diamonds receives buyout offer

By: Megan van Wyngaardt     1st February 2018 Aim-listed Stellar Diamonds is in advanced negotiations regarding a possible share offer for the entire issued and to-be-issued share capital of the company by Australian exploration company Newfield Resources (NWF). Under the terms of the offer, Stellar's shareholders and the holders of rights... 

Pangolin starts drill programme at Botswana diamond projects

By: Anine Kilian     1st February 2018 TSX-listed Pangolin Diamonds has started a drill programme at its wholly-owned Malatswae and Moenyenana diamond projects, in Botswana. Drill results are expected to be announced by the end of the second quarter once analysed and confirmed by a qualified laboratory. 

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