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Stellar, Octea sign tribute mining agreement over Sierra Leone project

By: Anine Kilian     Updated 37 minutes ago Diamond development company Stellar Diamonds has signed a legally binding conditional tribute mining agreement and revenue share agreement with Octea Mining in respect of the combined Tongo-Tonguma kimberlite diamond project, in eastern Sierra Leone. “These agreements with Octea . . . will allow... 

Mining consulting outlook stable to positive – consultancy

By: Nadine James     28th April 2017 The short-term outlook for the mining consulting industry is “stable to positive”, says SRK Consulting, a firm of consulting engineers and scientists. SRK partner and principal consultant Andrew van Zyl stresses that the South African economy is still in a transitional phase which – combined with... 

Rockwell files for business rescue

By: Mia Breytenbach     28th April 2017 Dual-listed alluvial diamond miner Rockwell Diamonds has filed for business rescue, which will ensure any liquidation order is automatically stayed. This follows after a judge in Kimberley on March 23 issued an interim liquidation order against subsidiaries Rockwell Resources RSA, HC van Wyk... 

Firestone plant upgrades yielding expected improvements as ramp-up accelerates

By: Schalk Burger     26th April 2017 Commissioning activities at Aim-listed Southern African diamond miner Firestone Diamonds’ Liqhobong mine, in Lesotho, are largely complete and final ramp-up of the Lesotho plant is progressing as planned. “The final commissioning phase has seen the mine achieve nameplate capacity on numerous... 

Anglo commits to innovative mining that’ll keep people out of harm’s way

By: Martin Creamer     25th April 2017 Keeping people out of harm’s way, extracting more precious ore and less waste rock, recycling all the required water and producing only dry tailings are among the innovative steps diversified mining company Anglo American is firmly committed to taking.  “The real future of mining lies in turning... 

Debswana Diamond Company starts processing Cut 8 ore

By: Reuters     25th April 2017 Botswana's Debswana Diamond Company has started processing ore from the $3-billion expansion of its Jwaneng diamond mine, popularly known as Cut 8, the company said on Tuesday. The Cut 8 project, which Debswana started in 2010, is meant to uncover 100-million carats of diamonds and extend the... 

Six new prospecting licences awarded to Botswana Diamonds

By: Martin Creamer     25th April 2017 London Aim-listed Botswana Diamonds on Tuesday announced that its joint venture (JV) with the large Russian diamond company, Alrosa, had been awarded of six new prospecting licences in Botswana.   Four are in the Central Kalahari Game Reserve (CKGR) and two are in the Orapa kimberlite province... 

Creamer Media announces special offer for Real Economy Yearbook to be published in June

     25th April 2017 The next edition of Creamer Media’s Real Economy Yearbook will be published on 30 June 2017 and will provide a researched overview of the state of play in a number of industrial and mining sectors. As in previous years, the Real Economy Yearbook will include updates on key news developments in... 

Diamond production at Petra’s operations flat during rainy season

By: Megan van Wyngaardt     24th April 2017 LSE-listed Petra Diamonds’ production of 999 768 ct for the third quarter, ended March 31, was only marginally higher than the 995 905 ct it produced in the same quarter of 2016. However, run-of-mine (RoM) production for the quarter increased 18% to 760 916 ct, as RoM grades improved owing to the... 

Rockwell seeks move to TSX-V listing

By: Megan van Wyngaardt     21st April 2017 Embattled Rockwell Diamonds, which earlier this week filed for business rescue, on Friday said it would seek to move its listing from the TSX to the TSX-V, owing to its current market capitalisation. The company said its shares on the TSX and JSE would remain halted while there remains... 

Diamond miners have India in sight with Real is Rare slogan

By: Reuters     21st April 2017 The world's top diamond producers will try to spur demand in India with the launch of their "Real is Rare" slogan in September, after the withdrawal of high-value bank notes dented the world's third biggest diamond market. The marketing slogan was launched in the United States in 2016 by the... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can be no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012, that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, compared with India’s 7.6%,... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can he no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012 that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, as against India’s 7.6%, the... 

New forum created to discuss exploration, mining, metals and minerals

By: Dylan Slater     21st April 2017 To continually develop, refine and extend the knowledge base regarding mining definitions and standards, vendor- and technology-neutral industry consortium The Open Group has established a forum in which exploration, mining, metals and minerals (EMMM) is discussed.  

Alrosa reduces diamond inventory, new CEO meets clients

By: Reuters     20th April 2017 Russian diamond miner Alrosa reduced its inventory sharply in the first quarter but kept its 2017 production forecast unchanged, the company said on Thursday, as its chief executive met clients to discuss the new contract period. The state-controlled Russian firm is the world's largest producer... 

Wealth gap leaves Ivorians craving share of 'economic miracle'

By: Bloomberg     20th April 2017 Standing knee-deep in muddy water to sift gravel in oppressive heat, a handful of middle-aged miners search for diamonds, clinging to what seems like a dying trade in a region with few job opportunities. “It’s unpredictable,” Pierre Silue, a 46-year-old miner wearing ragged clothes, said as he... 

Rockwell files for business rescue; will retain company operations in the interim

By: Mia Breytenbach     18th April 2017 Dual-listed alluvial diamond miner Rockwell Diamonds has filed for business rescue, which will ensure any liquidation order is automatically stayed. This follows after a judge in Kimberley on March 23 issued an interim liquidation order against subsidiaries Rockwell Resources RSA, HC van Wyk... 

Gem Diamonds appoints new chairperson

By: Mia Breytenbach     18th April 2017 Aim-listed Gem Diamonds has appointed Harry Kenyon-Slaney as its chairperson and an independent nonexecutive director, effective after June 6, succeeding Roger Davis, who will be stepping down. "I am delighted to be handing the chairmanship on to Kenyon-Slaney whose experience, knowledge and... 

Rare resources discovered in Queensland

By: Esmarie Swanepoel     18th April 2017 Queensland could likely play host to a number of rare minerals, as geologists have unearthed evidence suggesting the presence of platinum and gold as well as rare earth elements (REE). “This may be a whole new frontier for Queensland,” Natural Resources and Mines Minister Dr Anthony Lynham said... 

Dominion Diamond's sales slump 21% in FY17

By: Henry Lazenby     14th April 2017 Canada’s largest diamond producer Dominion Diamond Corp has reported a 21% decrease in diamond sales for the 2017 financial year ended January, as a fire at its flagship Ekati mine, in the Northwest Territories, and lower-value output weighed on the bottom line. The Yellowknife-based producer,... 

Economics of proposed agreement ‘very attractive’

     14th April 2017 If finalised, a tribute agreement between West Africa-focused diamond development company Stellar Diamonds and diamond mining company Octea Mining will see Stellar simultaneously mine both its wholly-owned Tongo project and the adjacent Tonguma project, in eastern Sierra Leone, with the company... 

Guinea stable, predictable investment destination – Ministry

By: Johane Turkstra     14th April 2017 Guinea is suitable for mining investment, says the Guinea Ministry of Mines and Geology, which will host Symposium Mines Guinea 2017 in Conakry, the country's capital, next month, in partnership with emerging markets-focused business-to-business event organiser AME Trade. The Ministry says the... 

Lesotho diamond mine poised to start commercial production in June

By: Mia Breytenbach     14th April 2017 Aim-listed diamond development company Firestone Diamonds expects its Liqhobong diamond mine, in Lesotho, to reach commercial production at the end of June. Commissioning of the mine started in October 2016, with mine construction completed on time and within the $185.4-million budget. In a... 

BlueRock improves diamond recovery since upgrades

By: Megan van Wyngaardt     13th April 2017 Aim-listed BlueRock Diamonds on Thursday reported that since it restarted operations at its Kareevlei mine, recovered grade has been improving from an initial 1.53 carats per hundred tonnes (cpht) to the most recent results of 3.02 cpht. The company late last year embarked on a thorough overhaul... 

Sparkling diamond earrings seen fetching up to $70m at auction

By: Reuters     11th April 2017 Two dazzling pink and blue pear-shaped diamonds are together expected to fetch close to $70-million when they go under the hammer next month. Sotheby's said the Apollo and Artemis stones are "by far the most important pair of earrings ever offered at auction". They will be offered to buyers... 

Alrosa lifts March diamond sales 1% y/y

By: Henry Lazenby     11th April 2017 The global leader in rough diamond production, Russia’s Alrosa, has increased total diamond sales for March by 1% year-on-year to $566.6-million, as stable demand in most rough diamond categories buoyed prices. Rough diamond sales by Alrosa in March amounted to $554.2-million, with polished... 

Despite ramp-up delay, Diamcor reports improved tender results

By: Henry Lazenby     11th April 2017 South Africa-focused project developer Diamcor Mining has reported improved diamond tender sales despite the ramp-up to double output at the Krone-Endora at Venetia mine being dogged by operational and product delivery issues. The issues have pushed finalisation of the testing, commissioning and... 

Gem recovers 114 ct diamond

By: Megan van Wyngaardt     7th April 2017 Gem Diamonds has recovered a 114 ct, D colour type II diamond of exceptional quality from its Letšeng mine, in Lesotho. The Letšeng mine is known for producing large, top colour, exceptional white diamonds, making it the highest dollar-per-carat kimberlite diamond mine in the world. 

Despite its 2% share of WOD’s revenue, Russian group says Africa’s significance cannot be underestimated

By: Ilan Solomons     7th April 2017 Slightly less than 2% of Russian diamond mining and marketing group World of Diamonds’ (WOD’s) revenue is derived from Africa, and these relationships are maintained through partners’ offices in Mali and the Democratic Republic of Congo (DRC). WOD COO Ivan Gorchakov tells Mining Weekly that the... 

Tango Mining recovers nearly 308 ct of diamonds in March period

By: Natasha Odendaal     6th April 2017 TSX-V-listed Tango Mining has recovered 183 diamonds, equating to 307.94 ct, from its Oena diamond mine, in the Northern Cape, during the month to March 20. The Canadian diversified junior mining company sold the diamonds at an average price of $875/ct. 

Petra announces pricing of notes issue

By: Anine Kilian     6th April 2017 Aim-listed Petra Diamonds on Thursday announced the pricing of its offering of senior secured second lien notes, due 2022, at $650-million. Interest on the notes will accrue at a rate of 7.25% a year, payable semi-yearly in arrears. 

Botswana Diamonds completes Phase 1 drilling at Vutomi

By: Megan van Wyngaardt     6th April 2017 Botswana Diamonds has completed the first phase of drilling at its flagship Vutomi project, in Frischgewaagt, in South Africa, where 34 percussion and nine diamond drill holes were drilled on the kimberlite dyke. The Aim-listed company on Thursday said samples have been submitted for microdiamond... 

Copper industry sees worst of crisis over, but recovery gradual

By: Reuters     6th April 2017 The copper business will recover from crisis mode after plummeting prices for the metal resulted in output cuts, industry executives said at a meeting in world top copper producer Chile this week, but they expect that incipient recovery will be slow. "The market seems to have left behind its... 

Firestone Diamonds recovers 110 ct yellow diamond from Liqhobong

By: Natasha Odendaal     5th April 2017 Aim-listed Firestone Diamonds has recovered a 110 ct gem-quality light yellow diamond – its largest diamond recovered to date – from the Liqhobong mine, in Lesotho. The discovery was made during the mine’s ongoing ramp-up. 

Trading in Rockwell stocks halted pending outcome of liquidation hearing

By: Henry Lazenby     4th April 2017 Beleaguered alluvial diamond miner Rockwell Diamonds announced on Tuesday that it has applied to the JSE to voluntarily halt trading in its equity after the TSX suspended trading in its stock, pending a delisting review. The TSX has advised Rockwell that it will only consider the delisting review... 

Sotheby's sells record $71m diamond to Chow Tai Fook 

By: Bloomberg     4th April 2017 Hong Kong-based jewelry retailer Chow Tai Fook bought a 59.6 ct pink diamond for about $71-million, setting the world record for the top auction price for any gem. The stone has an unusual distinction: it has attracted even higher bids in the past. The jeweler made the HK$553-million winning bid... 

Rio Tinto's copper boss sees small market deficit this year

By: Reuters     3rd April 2017 The copper market is likely to see a small shortage as early as this year because of a lack of new supply and the removal of up to 800 000 t over the past 18 months in response to modest prices, Rio Tinto's copper and diamonds chief will say on Tuesday. A Reuters survey in January showed the... 

A perspective on the colonialism debate

By: Jade Davenport     31st March 2017 Western Cape Premier Helen Zille's recent tweets espousing the opinion that the legacy of colonialism was not only negative has sparked significant outrage and debate amongst South Africans of all ages and races. Now, that is a kind of debate that most sensible people would not touch with a barge... 

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