R/€ = 14.00 Change: 0.07
R/$ = 13.02 Change: 0.07
Au 1250.83 $/oz Change: -1.62
Pt 954.50 $/oz Change: 3.50


Petra Diamonds issues $600m in notes

By: Megan van Wyngaardt     Updated 12 minutes ago To refinance its existing $300-million, 8.25% senior secured second lien notes, Petra Diamonds has launched a $600-million notes issue on Thursday. Proceeds will also be used to repay all drawn bank facilities and for general corporate purposes. 

Firestone narrows H1 loss, says Liqhobong on track for commercial production in June

By: Mia Breytenbach     28th March 2017 Aim-listed Firestone Diamonds, which on Tuesday posted a $4.1-million loss before tax for the six months to December 31, 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 the mine construction... 

Diamond industry’s famous hungry crocodile doesn't cut it

By: Bloomberg     28th March 2017 The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and... 

Botswana Diamonds continues to progress exploration programmes

By: Anine Kilian     27th March 2017 JSE-listed Botswana Diamonds has completed a drilling programme on PL 186, on the Maibwe ground, in the Kalahari Desert, it said in a statement of Monday. “We identified the locations of the previously drilled holes where significant quantities of diamonds were discovered. We drilled three... 

Lucapa announces maiden Mothae resource estimate

By: Henry Lazenby     25th March 2017 ASX-listed Lucapa Diamonds has published a maiden Joint Ore Reserves Committee-compliant resource estimate for the Mothae kimberlite pipe, in Lesotho. The Mothae project is located about 5 km from Gem Diamonds’ Letšeng mine. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries

By: Henry Lazenby     25th March 2017 A judge in Kimberley, South Africa, has issued an interim liquidation order against three subsidiaries of TSX- and JSE-listed Rockwell Diamonds. The interim court order does not affect Rockwell Diamonds, the parent entity. 

Diavik mine, Canada

By: Sheila Barradas     24th March 2017 A diamond mine in Canada’s Northwest Territories. 

Simplified processes, suitable technologies key to success – diamond miners told

By: Ilan Solomons     24th March 2017 Historically diamond plants were designed on the basis of process engineering excellence. However, this focused excessively on ensuring maximum diamond liberation and recovery, rather than on the defining of the optimal mix of technical and financial solutions. This is according to project... 

‘Barometer’ provides assessment of mineral resources industry transparency

By: Ilan Solomons     24th March 2017 Governments are challenged with creating new approaches to governance that enable them to better exploit the developmental potential provided by mineral resources. It is therefore imperative that countries establish regulatory frameworks and State capacity to ensure that mining activities are... 

Diamond group De Beers buys out retail partner LVMH

By: Reuters     23rd March 2017 Anglo American's diamond specialist De Beers has bought the 50% stake held by French luxury goods group LVMH in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. Analysts said the joint venture no longer fitted LVMH's strategy, while Anglo American,... 

Russia's Alrosa expects 6% fall in first-quarter diamond sales

By: Reuters     22nd March 2017 Russian diamond miner Alrosa expects its first-quarter sales to be down 6% at $1.25-billion compared with a year ago, the state-controlled company said in a presentation for its investor day on Wednesday. Alrosa, the world's largest producer of rough diamonds, plans to increase diamond output to... 

$60m 'Pink Star' diamond goes back on sale next month

By: Reuters     21st March 2017 A 59.60-ct diamond known as "The Pink Star" is returning to auction next month and could fetch a record $60-million, three years since it was sold for even more - only for the buyer to pull out of the deal. The diamond was presented by Sotheby's in London ahead of the auction in Hong Kong on... 

Dominion Diamond shares rise on improved 2018 sales forecast

By: Henry Lazenby     17th March 2017 The TSX-listed stock of Canada’s largest diamond producer Dominion Diamond Corp on Friday gained 12.33% to C$13.21, after the company announced late on Thursday that it expects fiscal 2018 sales to be between $875-million and $975-million, an increase of 62% over fiscal 2017 sales. The... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Sierra Leone pastor discovers 706 ct diamond

By: Reuters     17th March 2017 A Christian pastor has found one of the world's largest uncut diamonds – weighing 706 ct – in Sierra Leone's eastern Kono region. The stone, a photograph of which was posted on the president's official website, is being stored in the country's central bank, government sources said. 

Australian miners issue encouraging reports from their African operations

By: Keith Campbell     17th March 2017 Australian junior mining companies active in Lusophone Africa have reported good news from both Angola and Mozambique. The companies concerned are the Lucapa Diamond Company, operating in Angola, and Mustang Resources, active in Mozambique. Lucapa has announced that total diamond sales to date... 

BlueRock achieves 24-hour production target

By: Natasha Odendaal     15th March 2017 Aim-listed BlueRock Diamonds now has the capacity to produce sufficient material to supply the processing plant at the Kareevlei mine, in the Northern Cape, after commissioning the new crushing and screening circuit. The diamond mining company said the operations, tested under full load and... 

Gem Diamonds' FY pretax profit nearly halves on Botswana mine impact

By: Reuters     15th March 2017 Gem Diamonds reported on Wednesday a 47% fall in its full-year pretax profit, hurt by an impairment charge after it mothballed the Ghaghoo mine in Botswana due to a fall in diamond prices. The company recorded an impairment provision of $176.5-million after its move last month to place the... 

Optimism on minerals seen seeping down to grassroots explorers

By: Henry Lazenby     15th March 2017 Noting the optimism exhibited at the recent Prospectors and Developers Association of Canada (PDAC) international convention, held in Toronto, project generator Transition Metals says the fundamental shift in confidence it saw over the past year is consistent with this. “If you look at the... 

Symposium Mines Guinea

     14th March 2017 Now in its 5th edition, Symposium Mines Guinea organised by the Ministry of Mines and Geology, in partnership with AME Trade Ltd, is firmly established as the largest mining event in West Africa and will take place from 9 – 11 May 2017, in Conakry, Republic of Guinea. 

Sierra Leone gold sector ‘open for business’

By: Robyn Wilkinson     10th March 2017 The moderate rise in the average gold price to $1 248/oz in 2016 increased investor appetite for gold exploration and triggered some merger and acquisition activity in the sector, providing a positive environment for miner Sula Iron & Gold to advance its planned drilling programme at its... 

Diamond analyst Zimnisky sees buoyant Q1 diamond demand

By: Henry Lazenby     9th March 2017 First-quarter demand for rough diamonds has increased over the preceding three-month period, and also relative to a year earlier, as a comparatively mediocre Christmas season 2016 was offset by strong 2017 Chinese New Year sales that have driven seasonal restocking demand. Most, but not all,... 

Gahcho Kué receives third major award

By: Creamer Media Reporter      9th March 2017 The Gahcho Kué mine has received its third major award. It won the Viola R MacMillan Award during the Prospectors and Developers Association of Canada Awards Gala earlier this week. 

Mountain Province completes second Gahcho Kué diamond sale

By: Creamer Media Reporter      8th March 2017 TSX- and Nasdaq-listed Mountain Province Diamonds has completed the second sale of diamonds from its Gahcho Kué mine. Some 277 646 ct were sold, while a third sale comprising some 193 900 ct is scheduled for late March. 

Lulo delivers payday for Lucapa

By: Esmarie Swanepoel     8th March 2017 Diamond miner Lucapa Diamond Company will receive A$7.3-million ($5.6-million) in funds from its Lulo diamond mine, in Angola, under the terms of an alluvial mining investment with project partners Empresa Nacional de Diamantes and Rosas & Petalas. The board of the Lulo operation declared an... 

Transformation at the core of Anglo American’s resilience

By: Henry Lazenby     7th March 2017 The ability to innovate and build adaptation into the DNA of mining companies is a critical requirement to successfully navigate major market changes, Anglo American CEO Mark Cutifani said during a keynote address at the 2017 Prospectors and Developers Association of Canada’s yearly convention.... 

Russia appoints son of ex-Kremlin administration chief as Alrosa CEO

By: Reuters     6th March 2017 Russia has appointed Sergey Ivanov Jr, son of the former head of the Kremlin administration, as chief executive of State-controlled diamond miner Alrosa, the government said on Monday. Ivanov's candidacy to lead the world's largest diamond producer was supported by the finance ministry, sources... 

Gahcho Kué starts commercial production

By: Anine Kilian     3rd March 2017 Gahcho Kué, the world’s largest new diamond mine in 13 years, has officially started commercial production. The mine, developed in a joint venture between De Beers Group and Mountain Province Diamonds, is expected to produce about 54-million carats of rough diamonds over its mine life. 

Second parcel of Lulo diamonds sold

By: Esmarie Swanepoel     3rd March 2017 Diamond miner Lucapa Diamonds has completed its second diamond sale for 2017, netting A$9.1-million in revenue. The parcel comprises 1 552 ct, and included the 227 ct Type IIa D colour diamond recovered in February, and achieved an average sales price of $4 446/ct. 

De Beers revenue up 30% to $6.1bn on stronger demand

By: Ilan Solomons     3rd March 2017 Higher revenues contributed to a 42% improvement year-on-year in diamond miner De Beers’ underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) to $1.4-billion in 2016. A 30% increase in revenue to $6.1-billion was driven by stronger rough diamond demand, which led to... 

BlueRock commissions crushing, screening circuit

By: Creamer Media Reporter      1st March 2017 BlueRock Diamonds has commissioned the primary crushing and screening circuit at its Kareevlei operation, in the Northern Cape. The company has been able to operate full processing for up to seven hours, with the plant demonstrating hourly capacity in line with expectations. 

Botswana Diamonds raises funds as exploration activities gain momentum

By: Anine Kilian     27th February 2017 Aim-listed Botswana Diamonds has raised £525 000 through the placing of 35-million new ordinary shares at 1.5p a share. The net proceeds of the placing will be used to fund ongoing kimberlite drilling at its Frischgewaagt property in South Africa, drilling in Botswana, exploration work in South... 

Setting the record straight on discovery of diamonds

By: Jade Davenport     24th February 2017 , South Africa's mining history is tainted with a multitude of misconceptions, fallacies and misnomers. One of the most glaring is the notion that the Eureka Diamond, the 'first' precious stone to be discovered in South Africa, was found during the course of 1867. Indeed, this fallacy has become... 

Three main challenges facing sector

By: Johane Turkstra     24th February 2017 There are three main challenges facing the Namibian mining sector: rail services, water shortages and the introduction of policies that could stunt investment. Chamber of Mines of Namibia CEO Veston Malango tells Mining Weekly that these challenges will be key topics of discussion at the... 

Uranium, diamonds present potential amid challenges

By: Kimberley Smuts     24th February 2017 The biggest potential for growth in the Namibian mining industry is uranium, notes professional services firm KPMG Namibia senior partner Robert Grant, highlighting that the country is facing tough economic conditions in addition to the impact of drought. He tells Mining Weekly that this growth... 

Stellar raises funds for working capital, to conclude Octea deal

By: Megan van Wyngaardt     23rd February 2017 Stellar Diamonds has raised £324 500 through the issue of 5.9-million new ordinary shares, at an issue price of 5.5p apiece. The miner noted that it had to scale back the placing to not exceed the company’s existing share authorities. 

Trans Hex sees strong sales, production from local operations

By: Megan van Wyngaardt     23rd February 2017 Improved market conditions have resulted in diamond mining company Trans Hex posting improved sales of R201.1-million from the group’s October 2016, December 2016 and February tender sales of diamonds recovered at its South African operations. Some 16 447 ct of diamonds were sold at the tenders... 

PAC again rejects Drayton South project

By: Esmarie Swanepoel     23rd February 2017 The New South Wales Planning and Assessment Commission (PAC) has again rejected Anglo American’s Drayton South coal project, maintaining that it could not coexist with nearby stud farms. The PAC recommendation comes despite the Department of Planning and Environment in September 2016 announcing... 

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