R/€ = 14.39 Change: 0.11
R/$ = 12.87 Change: 0.06
Au 1266.92 $/oz Change: -0.32
Pt 962.00 $/oz Change: 2.00


Diamond industry faces headache as key US market takes a knock

By: Bloomberg     26th May 2017 In the diamond industry, the only place that really matters is the US, and the market is starting to look a little shaky. In a country where consumers buy almost half the world’s gems, Tiffany & Co. and Signet Jewelers this week reported disappointing sales. That’s a blow to expectations that... 

Lucapa secures A$19m to pay for Lesotho mine, advance Phase 1 development

By: Esmarie Swanepoel     26th May 2017 Diamond miner Lucapa Diamond Company has secured A$19-million in capital to fund the acquisition and development of the Mothae kimberlite diamond project, in Lesotho. The ASX-listed miner said on Friday that the funding package included a A$9.2-million underwriting agreement with Westar Capital... 

Despite glorious past, mineral processing innovation faces uncertain future

By: Mia Breytenbach     26th May 2017 While the mining industry does not yet seem to be in a crisis regarding innovation in mineral processing, it certainly seems to be on a downward trajectory, says former Julius Kruttschnitt Mineral Research Centre director and emeritus professor Tim Napier-Munn, noting that, with innovation being... 

Tsodilo gains Orapa kimberlite field exploration permit

By: Henry Lazenby     26th May 2017 Diamond explorer Tsodilo Resources has been granted an exploration permit in Botswana to look for diamond-bearing kimberlites in the prolific Orapa kimberlite field (OKF). The TSX-V-listed diamond and metals exploration company has gained access to one of the most significant diamond producing... 

Botswana agency to support installed base, new projects

By: Simone Liedtke     26th May 2017 Key mining, materials handling and minerals processing equipment supplier Takraf Africa – part of the global Tenova Takraf group – has appointed engineering service agency Etuba Engineeringits agent in Botswana. Takraf Africa engineered technologies GM Richard Späth tells Mining Weekly that the... 

Botswana continues to value exploration activity, mining

By: Simone Liedtke     26th May 2017 Exploration for minerals in diamond-dependent Botswana continues despite the tough economic conditions its mining industry faces, which has impacted negatively on the country’s economic health, says mining and exploration organisation Botswana Chamber of Mines CEO Charles Siwawa. These minerals,... 

Council for Geoscience launches near-shore mapping programme

By: Ilan Solomons     26th May 2017 Mineral resources are important to the economy and capacity building of South Africa and are being extensively exploited on land and there will likely be a shift towards the offshore environment, where exploration is currently focussed on diamonds and titanium sand, says Council for Geoscience... 

Despite glorious past, mineral processing innovation faces uncertain future

By: Mia Breytenbach     26th May 2017 While the mining industry does not yet seem to be in a crisis regarding innovation in minerals processing, it certainly seems to be on a downward trajectory, says former Julius Kruttschnitt Mineral Research Centre (JKMRC) director and emeritus professor Tim Napier-Munn, noting that, with... 

Diamond recovery projects scheduled for Q3 completion

     26th May 2017 Canadian diamond producer Lucara Diamond’s capital expenditure for 2017 is forecast at between $33-million and $35-million, and will largely fund the completion of its mega diamond recovery (MDR) and X-ray transmission (XRT) projects at the Karowe mine, in Botswana. 

Geologists, mineralogists exploring new Botswana licences

By: Simone Liedtke     26th May 2017 A second fieldwork programme at the six new prospecting licences (PLs) in Botswana awarded to the Sunland Minerals joint venture (JV), including initial sampling and geophysics, is planned for September 2017.  

Govt continues to encourage investment beyond diamonds

By: Simone Liedtke     26th May 2017 Botswana's mining industry will see steady value growth as government continues its efforts to diversify away from the diamond sector, encouraging foreign investment, particularly in coal projects, says industry analyst BMI Research, a Fitch Group company. 

Junior miners well placed to exploit better-performing commodities

By: Dylan Slater     26th May 2017 After a downturn of several years in the mining and mineral resources sector globally, “green shoots” are appearing off the back of a recovery in commodity prices that began in 2016, with a corresponding improvement in investor sentiment, according to Botswana-based coal and energy development... 

Forevermark celebrates diamond inscription milestone

By: Megan van Wyngaardt     25th May 2017 The De Beers’ Forevermark diamond brand has inscribed its two-millionth diamond – a 3.48 ct round brilliant, bearing ‘2,000,000’. The diamond was mined, cut and polished in Namibia and inscribed at the Forevermark Diamond Institute in Surat, India. It will be set in a piece of jewellery at the... 

Creamer Media announces special offer on real economy research portal

     25th May 2017 Creamer Media has announced a special offer on its well-respected research portal Research Channel Africa. Research Channel Africa offers unparalleled access to intelligence on industry and mining in South Africa and the wider African continent. 

Firestone to shed Botswana assets in $5.1m deal

By: Natasha Odendaal     24th May 2017 Aim-listed Firestone Diamonds has entered into a conditional option agreement to potentially sell its Botswana assets to Gareth Penny- and Diacore Diamond-led special purpose vehicle Amulet Diamond for $5.1-million in cash. The option, effective from June 1 for up to 14 months, included... 

CML welcomes Rockwell Diamonds’ business rescue process

By: Megan van Wyngaardt     23rd May 2017 C-Rock Mining Limited (CML), the company that brought a provisional liquidation application against three subsidiaries of Rockwell Diamonds, has welcomed the court’s decision to place the subsidiaries under business rescue. CML had previously applied to have the three subsidiaries – Rockwell... 

Gem Diamonds recovers 98 ct diamond at Letšeng

By: Megan van Wyngaardt     23rd May 2017 LSE-listed Gem Diamonds on Tuesday reported recovering a 98.42 ct high-quality D-colour Type II diamond at its 70%-owned Letšeng mine, in Lesotho. CEO Clifford Elphick commented that it had recovered 25 479 ct of diamonds at Letšeng at a grade of 1.53 carats per hundred tonnes (cpht), against an... 

Anglo said to have bids in for New Largo from Seriti

By: Bloomberg     22nd May 2017 Anglo American has received bids for its New Largo project, in South Africa, as the company continues efforts to exit operations in the country that supply coal to local power plants, according to two people familiar with the process. Seriti Resources, which agreed last month to buy thermal coal... 

Rockwell succeeds in having subsidiaries placed in business rescue

By: Megan van Wyngaardt     22nd May 2017 An application to have Rockwell Diamonds’ three subsidiaries placed under business rescue, as opposed to liquidation, has been granted by a court in Kimberley. C-Rock Mining (CML) had previously applied to have the three subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine –... 

Zimbabwe plans 'use it or lose it' mine-permit programme for gold

By: Bloomberg     19th May 2017 Zimbabwe may confiscate unused mining licenses from companies and liberalize gold trading as ways to boost output. Large mines are “sitting on lots of unused claims,” the southern African country’s Chamber of Mines said in a document outlining initiatives of the proposed Command Mining program.... 

Kimberley Ekapa mine accused of operating without proper permits

By: David Oliveira     19th May 2017 Informal miners, or zama-zama, in Kimberley in the Northern Cape, marched to the provincial Hawks office earlier this month to lay a complaint that a case against independent diamond miner Petra Diamonds has not been investigated by  law enforcement agencies. According to Mining Affected... 

Diamcor’s latest diamond tender generates $702 635

By: Megan van Wyngaardt     18th May 2017 TSX-V-listed Diamcor Mining’s second rough diamonds tender and sale from its Krone-Endora at Venetia mine, in the Northern Cape, has generated $702 635 in gross proceeds from the sale of 3 265 ct ranging in the 1 mm to -45 mm size fractions. This represents an average price of $215.20/ct. 

De Beers to hold auctions for polished diamonds

By: Megan van Wyngaardt     18th May 2017 De Beers’ Auction Sales business will pilot the sale of its own polished diamonds using auctions for the first time, it said on Thursday. The sale will comprise a range of polished diamonds manufactured directly from De Beers’ rough diamonds. 

Quebec diamond miner Stornoway produces one-millionth carat

By: Henry Lazenby     17th May 2017 Quebec’s only diamond producer Stornoway Diamond Corp has produced its one-millionth carat from the Renard mine, alluding to a strong start to production in the current quarter. Desjardins Capital Markets analyst Michael Parkin said the market is still focused on the company’s ability to resolve... 

De Beers' sales reach $520m as industry enters ‘quieter season’

By: Megan van Wyngaardt     16th May 2017 Diamond miner De Beers’ fourth cycle of rough diamond sales for this year has generated $520-million. This was slightly lower than the $586-million achieved in the third sales cycle. 

Lucapa sells more diamonds from Lulo

By: Esmarie Swanepoel     16th May 2017 Diamond miner Lucapa Diamond Company has garnered a further $1.3-million in revenues from the sale of its fourth parcel of diamonds for 2017. The miner recently sold 1 878 ct of diamonds from the Lulo mine, in Angola, at an average price of $695/ct. The latest sale brought gross proceeds from... 

Guinea town's unrest a cautionary tale for African mining

By: Reuters     12th May 2017 When the frustration of youths in this Guinean mining town finally erupted, they looted shops, pillaged government buildings and smashed up dozens of vehicles, dispersing only when police opened fire. "It was an immense crowd," said Lieutenant Souare Abdoul, a fireman who had to shelter in a... 

Giant diamond auction fails as Sierra Leone rejects offer

By: Reuters     12th May 2017 A much anticipated auction for one of the world's largest diamonds fizzled on Thursday when the government of Sierra Leone rejected a $7.8-million bid for the rough, egg-sized stone, saying it failed to meet its own valuation. The 706 ct gem is the second largest ever discovered in the West... 

Lucara’s high-grade Karowe continues to impress with latest exceptional stone tender

By: Henry Lazenby     12th May 2017 Vancouver-based diamond producer Lucara Diamond Corp has completed the first exceptional stone tender for 2017, raking in revenues of some $54.8-million on the sale of 1 765.72 ct of precious gems larger than 10.8 ct. The TSX- and Botswana-listed miner’s eleveth exceptional stone tender since... 

De Beers in push for carbon-neutral mining at its operations

By: Mia Breytenbach     12th May 2017 Diamond miner De Beers Group is leading a research project that aims to deliver carbon-neutral mining at some of its operations in as few as five years’ time. The company’s scientists, in close collaboration with a team of internationally renowned scientists, are investigating the potential to... 

Dust-suppression specialist geared for growth in Africa

By: Simone Liedtke     12th May 2017 Environmental management company I-CAT Environmental Solutions continues to grow its market share in dust-suppression management and solutions, and intends to increase its market share in Africa this year. 

For world's super-rich, a pink diamond is forever

By: Reuters     10th May 2017 For the world's super-rich, the investment of choice is increasingly a very rare naturally pink diamond, an asset class that this year has set records at auction. Tobias Kormind, MD of 77 Diamonds, which has a shop in London's Mayfair district and sells online, says the trend for coloured stones... 

Tanzania's Magufuli pushes for listing of mining firms

By: Reuters     10th May 2017 Tanzania's President, John Magufuli, said his government will enforce a new rule requiring mining firms to list on its bourse by August as part of measures aimed at increasing transparency and spreading wealth from the country's natural resources. Major foreign-owned mining companies in Tanzania... 

Stornoway tracks ahead of plan – maiden quarterly report

By: Henry Lazenby     10th May 2017 Quebec’s sole diamond producer Stornoway Diamonds has issued its maiden first-quarter operating and financial results report, showing that mining rates, development progress in the underground mine, and carat production all continue to exceed plan. The Longueuil, Quebec-based company, which... 

Analyst sees global diamond output rising 11.5% in 2017

By: Henry Lazenby     9th May 2017 Global mined diamond output in 2017 is expected to increase 11.5% year-over-year to 142.3-million carats, worth some $15.6-billion, which itself is a 9.9% increase in forecast total value produced, evaluation by independent diamond analyst Paul Zimnisky has found. The top ten largest mines in the... 

World Diamond Council intersessional meeting guides industry

By: Megan van Wyngaardt     8th May 2017 An observers’ forum, held alongside the World Diamond Council and Kimberley Process (KP) intersessional meeting, saw its members, along with the African Diamond Producers Association, the Civil Society Coalition and the Diamond Development Initiative achieve consensus on proposals to strengthen... 

Junior mining set to benefit from resurgence in sector

     8th May 2017 After several years of a downturn in the mining and mineral resources sector, green shoots continue to appear off the back of a recovery in commodity prices which began in 2016, with a corresponding improvement in investor sentiment.   The general sentiment is that a recovery is underway in the... 

Creamer Media announces special offer on real economy research portal

     8th May 2017 Get unparalleled access to intelligence on industry and mining through Creamer Media’s Research Channel Africa. A subscription to the Research Channel Africa offers access to: 

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