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Diamonds News

Anglo is said to opt for De Beers' historic London base as new HQ

By: Bloomberg     11th July 2017 Anglo American plans to redevelop the historical premises of its De Beers diamond unit after choosing the building as its preferred option for a new London headquarters, according to people with knowledge of the plan. The company intends to modernise the Charterhouse Street property and then... 

Botswana Diamonds refines Frischgewaagt grade estimates

By: Natasha Odendaal     11th July 2017 Aim-listed Botswana Diamonds has refined its Vutomi joint venture’s estimate for the grade at its Frischgewaagt project, in South Africa. This followed the inclusion of the results of the bulk sample and an update to the estimation analysis technique, which indicated a medium grade of 78 carats... 

Botswana Diamonds refines Frischgewaagt grade estimates
Botswana Diamonds chairperson John Teeling

Diamcor sells 2 000 ct in final June tender

By: Anine Kilian     10th July 2017 TSX-V-listed Diamcor Mining sold 2 153 ct of rough diamonds for gross proceeds of $338 380, resulting in an average price of $157.16/ct in a third and final tender and sale for the quarter completed in June. This brings the total rough diamonds tendered and sold from the initial processing of... 

Diamond firm's seized assets ordered to be returned by court

By: Bloomberg     7th July 2017 A Belgian court ordered lender KBC Group to return seized assets from one of the diamond industry’s most storied names within 24 hours, a court ruling shows. Exelco was on track to repay loans to KBC by 2020 as planned, so the lender’s early seizure of assets was unnecessary, the Antwerp court... 

Gem Diamonds recovers 126 ct diamond from Letšeng

By: Natasha Odendaal     6th July 2017 LSE-listed Gem Diamonds on Thursday unveiled its latest recovery from its Letšeng mine, in Lesotho – a high-quality 126 ct, D-colour Type IIa diamond. This followed the recovery of a high-quality 104.73 ct D-colour Type IIa diamond and a 151.52 ct Type I yellow diamond in June, an exceptional... 

Deloitte unpacks Mining Charter ahead of High Court hearing into Chamber’s application to halt its implementation

By: Mia Breytenbach     5th 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 on Wednesday said the mining industry had to take a broader view of the charter, focus and... 

Deloitte unpacks Mining Charter ahead of High Court hearing into Chamber’s application to halt its implementation
Mineral Resources Minister Mosebenzi Zwane

DiamondCorp to delist from AltX on July 24

By: Megan van Wyngaardt     4th July 2017 Embattled diamond miner DiamondCorp, which used to be listed on the Aim and AltX, on Tuesday said its listing on the AltX would be terminated on July 24. The company, which owns the Lace diamond mine, near Kroonstad, said the last day to trade, prior to the termination of its listing status, will... 

Belgian bank KBC seizes assets from storied Antwerp diamond firm

By: Bloomberg     4th July 2017 Belgian bank KBC Group seized assets from one of the diamond industry’s most storied names as it seeks to recover unpaid loans, according to court documents. KBC is seeking to recover €26-million ($29-million) from Exelco, and had bailiffs search the firm’s Antwerp offices as well as offices... 

Mining Indaba offering new junior zone, boosting interface opportunities 

By: Martin Creamer     4th July 2017 Strong new thrusts are planned for next year’s Investing in African Mining Indaba, which is scheduled to take place at the Cape Town International Convention Centre from February 5 to 8, once again to support investment in mining companies operating in Africa and to provide an effective platform... 

Mining Indaba offering new junior zone, boosting interface opportunities
Investing in African Mining Indaba MD Alex Grose outlines to Mining Weekly Online’s Martin Creamer the major new focus on junior miner involvement. Video and Video Editing: Lionel da Silva.

Stellar extends transaction longstop date with Octea Mining

By: Creamer Media Reporter      3rd July 2017 London-listed Stellar Diamonds on Monday said it had extended, by two weeks, the longstop date with Octea Mining for the satisfaction of certain of the conditions precedent of the binding tribute mining and revenue agreements for the Tongo-Tonguma mine development project, in Sierra Leone. The... 

Company seeks strategic partners as it aims to mine diamonds off the West Coast

By: Ilan Solomons     30th June 2017 Local diamond exploration company Mza Diamonds Resources is calling for expressions of interest from marine mining companies to join the company to deploy remote marine mining equipment to extract diamonds from its number 7B mid-water diamond concession, off the West Coast of South Africa. The... 

Company seeks strategic partners as it aims to mine diamonds off the West Coast
Photo by Mza Diamonds Resources
GLISTENING PROSPECTS The 7B concession is estimated to contain 65-million tons of diamondiferous gravel

3D printing could improve mining uptime and productivity

By: Mia Breytenbach     30th June 2017 Forward-thinking mining organisations are realising that industrial-scale, three-dimensional (3D) printing of equipment used in mines could make operations more cost effective and reduce the frustrations of equipment downtime, says information technology consultancy and systems integration firm... 

3D printing could improve mining uptime and productivity
Photo by Bloomberg
OPERATIONAL CONTROL By 3D printing the spare parts and replaceable components that complex mine machinery requires, operators can gain greater control over the supply chain

Funding dearth, restrictive laws and lack of leadership from govt stifling SA junior miners

By: Dylan Slater     30th June 2017 The junior mining sector in South Africa has “huge potential” to grow and re-establish itself in the domestic mining environment; however, this potential is being blunted by a lack of funding, restrictive legislation and a lack of leadership from the Department of Mineral Resources (DMR) and... 

Funding dearth, restrictive laws and lack of leadership from govt stifling SA junior miners

Court hearing on liquidation application against Rockwell subsidiaries postponed

By: Megan van Wyngaardt     29th June 2017 A court hearing to consider the merits of the liquidation application against three subsidiaries of dual-listed Rockwell Diamonds, has been postponed to October 31. The hearing had originally been scheduled for June 22; however, this would be prior to Rockwell Diamonds’ filing of a proposed... 

WDC president to resign by end of week

By: Creamer Media Reporter      29th June 2017 Andrey Polyakov will resign as president of the World Diamond Council (WDC) by the end of the week. VP Stephane Fischler will serve as acting president from July 1 until May 1, 2018, when he will start his two-year term as WDC president.  

Karelian granted claim reservation over area which may contain new kimberlite

By: Mariaan Webb     28th June 2017 Prospector Karelian Diamond has been granted a claim reservation in the Kaavi region of Finland, which the Aim- and ESM-listed company is hoping could lead to the discovery of a new kimberlite in the area. The 8.67 km2 claim reservation is for the area surrounding its Lahtojoki mining concession... 

Karelian granted claim reservation over area which may contain new kimberlite

Petra still expecting record production, despite lowering FY guidance

By: Megan van Wyngaardt     28th June 2017 A slower-than-anticipated build-up of its expansion programmes has prompted Petra Diamonds to lower its full-year production guidance by 8% to 9% from the 4.4-million previously targeted. This, the LSE-listed diamond miner said, would have a coinciding 8% to 9% impact on its revenue, which will... 

Gahcho Kué prices fetch new high at $95/ct

By: Henry Lazenby     28th June 2017 Mountain Province Diamonds has recorded its highest average price to date for diamonds produced at its 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, as it collected $21.1-million at its June tender sale. The company on Tuesday reported that the fifth tender of rough diamonds from... 

Gahcho Kué prices fetch new high at $95/ct
Photo by Reuters
Mountain Province Diamonds' Gahcho Kué mine has recorded its highest average price to date at $95/ct

Tsodilo completes pilot hole drilling programme at BK16

By: Anine Kilian     26th June 2017 Diamond explorer Tsodilo Resources has completed a pilot hole drill (PHD) programme at its BK16 kimberlite project, in the Orapa kimberlite field, in Botswana. The purpose of the programme was to drill pilot holes on the sites that have been earmarked for the large diameter drill (LDD) programme. 

Shore Gold consolidates Star-Orion South diamond project, inks earn-in with Rio Tinto

By: Henry Lazenby     24th June 2017 TSX-listed project developer Shore Gold has consolidated its ownership in the Star-Orion South diamond project, in Saskatchewan, after buying Newmont Canada FN Holdings’ 31% interest in the Fort à la Corne joint venture (FalC JV), the company announced on Friday. With a resulting 100% ownership... 

Shore Gold consolidates Star-Orion South diamond project, inks earn-in with Rio Tinto
Photo by Shore Gold
Rio Tinto has signed an option agreement to earn up to 60% of Shore Gold's Star-Orion South diamond project, in Saskatchewan

Mining Charter violates shareholder rights – Hogan Lovells

By: Martin Creamer     23rd June 2017 Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the... 

Mining Charter violates shareholder rights – Hogan Lovells
Hogan Lovells partner Wessel Badenhorst

High-quality products equal reduced maintenance on mines

By: Marleny Arnoldi     23rd June 2017 To lower maintenance costs and increase plant efficiency in trying economic times, gratings, stair treads, pressed floors and safety handrails manufacturer Vital Engineering offers clients service level agreements (SLAs) after the completion of projects.  

High-quality products equal reduced maintenance on mines
PRICE OVER SAFETY AND QUALITY Mine end-clients sometimes enter into low-cost, low-end purchasing agreements with non-original-equipment manufacturers and suppliers with critical implications for safety and quality

BCL liquidation poser for Botswana diamond exploration JV

By: Ilan Solomons     23rd June 2017 Diamond explorer and project developer Botswana Diamonds is weighing its options in resolving the corporate governance issues relating to its Maibwe joint venture (JV) exploration project, in the emerging diamond province of Gope in Botswana, says MD James Campbell. The Maibwe JV consists of a... 

BCL liquidation poser for Botswana diamond exploration JV
Photo by Duane Daws
JAMES CAMPBELL Botswana Diamonds is currently in discussions with BCL’s liquidator KPMG to resolve the corporate governance issues associated with the Maibwe joint venture

De Beers establishes incubation hub for Kroonstad’s entrepreneurs

By: Ilan Solomons     23rd June 2017 Diamond miner De Beers’ Voorspoed mine has officially unveiled its Incubation Support Programme for small, medium-sized and microenterprises (SMMEs) at the miner’s Zimele business hub in Kroonstad, in the Free State. The programme is aimed at helping budding entrepreneurs. Thirty-five people from... 

De Beers establishes incubation hub for Kroonstad’s entrepreneurs
Photo by De Beers
PROVIDING A HELPING HAND De Beers supply development lead Lesiba Lamola with some of the incubatees of the Incubation Support Programme

Golden Saint recovers 14 diamonds from Tongo

By: Megan van Wyngaardt     22nd June 2017 West Africa-focused diamond and gold exploration company Golden Saint has recovered 14 diamonds, weighing a total of 10.46 ct, from its Tongo licence, in Sierra Leone. The diamonds range from 0.25 ct to 2.15 ct apiece, while some 23.62 g of alluvial gold was also recovered from the gravels treated. 

Firestone increases guidance as Liqhobong throughput rises

By: Megan van Wyngaardt     22nd June 2017 Firestone Diamonds now expects to recover around 360 000 ct of diamonds in the financial year ending June 30, against April’s guidance of 300 000 ct, owing to operational ramp-up at its Liqhobong mine, in Lesotho, achieving nameplate throughput capacity on multiple occasions since the start of... 

Slow, bumpy market recovery on the cards for most commodities

By: Henry Lazenby     22nd June 2017 The global commodity market is probably in for a slow, drawn-out recovery following the five-year bear market, S&P Global Market Intelligence director for reports on the metals and mining sectors Dr Chris Hinde said during a webcast on Wednesday. According to S&P’s ‘State of the Market’ report,... 

Slow, bumpy market recovery on the cards for most commodities

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Mining Charter exposing South African economy to GATT angst
Photo by Duane Daws
Herbert Smith Freehills co-chair Peter Leon

Mining Charter set to worsen stakeholder relations – Bench Marks

By: Martin Creamer     20th June 2017 The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a... 

Mining Charter set to worsen stakeholder relations – Bench Marks
Photo by Reuters
Rt Rev Dr Jo Seoka, chairperson of the Bench Marks Foundation, which has launched a scathing attack on the new Mining Charter.

Latest sales cycle earns De Beers $530m

By: Megan van Wyngaardt     20th June 2017 Diamond miner De Beers’ fifth sales cycle for the year generated revenue of $530-million. While this was up from the $522-million of diamonds sold in the fourth sales cycle, sales were lower than the $546-million earned in the fifth cycle in 2016. 

Latest sales cycle earns De Beers $530m

Lucapa adds to revenues

By: Esmarie Swanepoel     19th June 2017 ASX-listed Lucapa Diamond Company has generated another A$1.25-million in revenue through the sale of 1 236 ct of diamonds from the Lulo mine, in Angola. Lucapa said on Monday that the latest parcel of diamond sales achieved an average price of A$1 013/ct. 

Kimberley Diamonds goes into administration

By: Esmarie Swanepoel     16th June 2017 Embattled Kimberley Diamonds has reportedly entered voluntary administration only days after its Lerala diamond mine, in Botswana, was closed. Kimberley delisted from the ASX in March this year, and the Lerala mine was reportedly closed on June 1, with the company citing weak market conditions. 

New version of breathalyser used at mines, industrial sites reduces chances of cheating

By: Mia Breytenbach     16th June 2017 To further improve the security of testing and reduce “cheating”, or circumvention of breathalyser tests, alcohol detection technology and services provider Alco-Safe is developing a new version of its ALControl breathalyser unit for application at mine and industrial sites. “The new unit,... 

New version of breathalyser used at mines, industrial sites reduces chances of cheating
PRODUCT OF INTEREST Alco-Safe has installed more than 15 of its new ALControl standalone breathalyser units at various coal mines in Mpumalanga in the past two months

Chamber going to court to halt devastating charter blow to already battered mining sector 

By: Martin Creamer     15th June 2017 The Chamber of Mines of South Africa will be applying at the earliest opportunity for a court date for a declaratory order on continuing empowerment consequences, as well as immediately seeking an interim court interdict to suspend the implementation of Mining Charter Three, the devastating set... 

Chamber going to court to halt devastating charter blow to already battered mining sector
Photo by Creamer Media
Chamber of Mines of South Africa president Mxolisi Mgojo

Alrosa, Dubai trader strengthen ties

By: Megan van Wyngaardt     15th June 2017 The Dubai Multi Commodities Centre (DMCC) and Russian diamond miner Alrosa have agreed to enhance diamond trade cooperation. The parties discussed options for expanding Alrosa’s trading activities at the Dubai Diamond Exchange – a DMCC entity – as well as agreements on enhanced efforts to stem... 

Trans Hex warns of widened losses for FY17

By: Megan van Wyngaardt     15th June 2017 South African diamond miner Trans Hex Group expects to have widened its losses for the 2017 financial year. In a trading update published on Thursday, the group said it expects to report a loss a share of 173.5c for the year ended March 31, compared with a loss a share of 94.4c in the prior year. 

Botswana Resource Sector Conference kicks off 

     14th June 2017 The 2017 Botswana Resource Sector Conference took place this week in Gabarone. Mining Weekly editor Martin Creamer attended and speaks to Creamer Media's Sashnee Moodley about the developments. 

Botswana Resource Sector Conference kicks off
Botswana Resource Sector Conference kicks off

De Beers opens platform for third-party polished diamond sales

By: Megan van Wyngaardt     13th June 2017 Sellers and buyers of responsibly sourced, exceptional polished diamonds will be able to transact anonymously through the De Beers Auction Sales platform for the first time, when the group’s exceptional polished stones auction is held on June 29. The diamond miner believes buyers and sellers will... 

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