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De Beers new diamond mine set to reach full commercial production

By: Reuters     22nd February 2017 Gahcho Kué diamond mine, in Canada's Northwest Territories is set to reach full commercial production over the next six weeks, the heads of Anglo American unit De Beers and its Canadian partner Mountain Province Diamonds said on Tuesday. First diamond production at the Arctic mine, the world's... 

De Beers lifts FY16 underlying Ebitda by 42%

By: Ilan Solomons     21st February 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... 

Rockwell concludes sale of noncore assets

By: Natasha Odendaal     21st February 2017 While dual-listed Rockwell Diamonds is not yet in the “home stretch” of its quest to effect a turnaround, the company is gaining traction with the conclusion of the sale of its noncore Saxendrift alluvial diamond assets in the Middle Orange River region to private firm Nelesco 318 for... 

Russia's Alrosa CEO could step down – sources

By: Reuters     21st February 2017 Andrey Zharkov, head of Russian diamond giant Alrosa, could step down soon, two sources familiar with the situation told Reuters on Monday. Alrosa is the world's largest producer of rough diamonds in carat terms. Together with Anglo American's unit De Beers, they produce about half the world's... 

Petra posts strong interim results, lifts production 24% y/y

By: Anine Kilian     20th February 2017 FTSE 250 miner Petra Diamonds’ production increased by 24% year-on-year to two-million carats for the six months ended December 31.  Revenue rose 48% to $228.5-million, while earnings before interest, taxes, depreciation and amortisation were up 80% to $87.1-million. 

Stellar to enter into tribute mining agreement with Octea

By: Megan van Wyngaardt     20th February 2017 Stellar Diamonds has terminated discussions with Octea Mining around the acquisition of the Tonguma kimberlite diamond project, in eastern Sierra Leone. Instead, Stellar and Octea intend to enter into a tribute mining agreement, which will allow Stellar to fund and mine the Tonguma licence area,... 

De Beers' Forevermark diamonds to add 10% more outlets in 2017, says CEO

By: Reuters     18th February 2017 Diamond jewellery retailer Forevermark, part of the Anglo American mining group, has expanded to 2 000 outlets globally and expects a further 10% rise this year, CEO Stephen Lussier said on Friday. The number of new Forevermark outlets, which sell selected De Beers diamonds, rose by 14% last... 

Asa delivers mixed quarter as Trojan weighs on performance

By: Natasha Odendaal     17th February 2017 London-listed Asa Resources has delivered a mixed performance in the third quarter as commodity prices declined and some lingering operational difficulties persisted at its Trojan nickel mine, in Zimbabwe. However, the company has implemented several mitigating measures to deal with the... 

Tsodilo starts drilling programme at BK16 in Botswana

By: Megan van Wyngaardt     16th February 2017 TSX-V-listed Tsodilo Resources has started a 3 000 m drilling programme at its wholly-owned BK16 kimberlite project, in the Orapa kimberlite field (OKF), in Botswana. The programme will entail the drilling of pilot holes on the sites that have been earmarked for a large diameter drilling (LDD)... 

Gem halts Ghaghoo mine amid low prices

By: Megan van Wyngaardt     16th February 2017 Gem Diamonds has placed its Ghaghoo mine, in Botswana, on care and maintenance with immediate effect. Although the development of the mine had progressed well and reached the point where it would shortly be able to start full commercial production, the material fall in the diamond price from... 

Botswana chamber adopts Canada’s sustainable mining programme

By: Henry Lazenby     14th February 2017 The Botswana Chamber of Mines (BCM) has announced that it will adopt the Towards Sustainable Mining (TSM) initiative, a corporate social responsibility programme developed by the Mining Association of Canada (MAC) to improve environmental and social practices in the mining industry. This is first... 

Firestone hosts successful first sale of Liqhobong diamonds

By: Megan van Wyngaardt     13th February 2017 All 75 936 ct on offer at Aim-listed Firestone Diamonds’ first sale of diamonds recovered from its Liqhobong diamond mine, in Lesotho, have been sold. The sale was held in Antwerp between February 6 and 10, with the company raking in $8.14-million, or an average of $107/ct. Over 90 companies... 

Lulo delivers another large diamond

By: Esmarie Swanepoel     13th February 2017 Diamond miner Lucapa has uncovered a 227 ct diamond at its Lulo project, in Angola. The ASX-listed miner on Monday said the diamond is the second-largest recovered at Lulo to date, behind the 404 ct diamond uncovered in February 2016. It is the biggest diamond recovered to date from the new XRT... 

New Bill on way to boost State involvement in mining

By: Martin Creamer     10th February 2017 A new Bill is to be presented to the South African Parliament to strengthen the State’s role in the industry, currently dogged by legislative, regulatory and administrative tensions between government, business and labour. The Mining Company of South Africa Bill will be presented to Cabinet and... 

A ‘lean, mean’ structure and less burdensome laws key to successful mining of Middle Orange River diamond deposits

By: Ilan Solomons     10th February 2017 The Middle Orange River (MOR) alluvial diamond deposits between Hopetown, Douglas and Prieska, along with deposits along the Riet and Vaal rivers, in the Northern Cape, represent three unique sinks or repositories of high-quality gem diamonds, says independent diamond consultant Dr John Bristow.... 

Lucapa aces first diamond sale for 2017

By: Esmarie Swanepoel     9th February 2017 ASX-listed Lucapa Diamond Company has completed its first diamond parcel sale for 2017 from the Lulo mine, in Angola, generating some A$4.9-million in revenue. The company on Thursday reported that the parcel comprised 2 946 ct of diamonds at an average price of $1 276/ct. The sale included a 75... 

Master Drilling readies for international roll-out of new horizontal raiseboring technology

By: Ilan Solomons     7th February 2017 JSE-listed drilling services provider Master Drilling announced at the Investing in African Mining Indaba on Tuesday that its horizontal raiseboring (HRB) technology is ready for international roll-out after a successful pilot test at the Cullinan diamond mine, in Gauteng. Master Drilling CEO... 

Forevermark brand expanding customer base globally  

By: Ilan Solomons     7th February 2017 The response to the Forevermark diamond brand has been “just great” in the past three years, which is, to a significant degree, attributable to the brand’s promise of authenticity, quality, uniqueness, integrity and being ethically sourced, states De Beers' Forevermark brand ambassador at Caratco... 

By Andrew Cheatle, Executive Director of the Prospectors & Developers Association of Canada

     7th February 2017 If you are in any way involved in exploration and mining, then chances are the acronym “PDAC” is one you have heard of before. It might even summon images of thousands of geologists, mining executives, government officials, students and financiers gathering in Toronto every year for the world’s... 

Rio hands diamond mine over to Madhya Pradesh government

By: Esmarie Swanepoel     7th February 2017 Diversified miner Rio Tinto will "gift" the Bunder diamond project, in India, to the government of Madhya Pradesh. Rio last year announced that it would not proceed with the development of the Bunder mine, owing to commercial considerations, and that it would close all project infrastructure. 

Botswana's growth to almost double as commodity sales rebound

By: Reuters     7th February 2017 Botswana's economy will grow by nearly double in 2017 compared to the previous year as Africa's largest exporter of diamonds shakes off a slump in global commodity prices and electricity shortages. In a budget speech to parliament on Monday, Finance Minister Kenneth Matambo said the economy would... 

Lacking local support, De Beers shelves Ontario diamond mine expansion

By: Reuters     7th February 2017 De Beers is shelving immediate plans to study an expansion project at a remote northern Ontario diamond mine after failing to get support from a neighbouring aboriginal community, a "disappointing" setback for the world's top diamond producer, the mine's manager said. 

Gahcho Kué produces 67.87 ct gem-quality diamond

By: Henry Lazenby     7th February 2017 The joint venture (JV) Gahcho Kué diamond mine, in Canada’s Northwest Territories, has recovered a 67.87 ct gem-quality diamond, building on previous recoveries during the bulk sampling programme. The find represents the largest gem-quality diamond recovered at Gahcho Kué to date. 

Stornoway reports better-than-expected 2016 output, confirms 2017 guidance

By: Henry Lazenby     7th February 2017 Gem miner Stornoway Diamond Corporation has reported significantly better-than-expected production results for 2016 on the back of completing construction of the Renard mine ahead of schedule and below budget. The Longueuil, Quebec-based company on Monday reported that the 448 887 ct of diamonds... 

Chamber calls on mining to renounce its apartheid past

By: Martin Creamer     6th February 2017 Mining is the foundation of the South African economy. Much of the manufacturing and services sectors exist because they were initiated to service and provide inputs to the mining industry since the second half of the 19th century. However, mining was also one of the foundation stones of South... 

DMR to focus on supporting junior miners; MPRDA to be finalised by June

By: Kim Cloete     6th February 2017 Mineral Resources Minister Mosebenzi Zwane has welcomed signs of a new “spring” in the mining industry, noting the recovery in commodities prices, and has signalled that he will intensify support for junior miners in the year ahead. Zwane told the annual Investing in African Mining Indaba in Cape... 

Minerals Minister urged to make new legislative start

By: Martin Creamer     5th February 2017 South Africa’s Minerals Minister Mosebenzi Zwane has been urged to withdraw the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill and to make a new legislative start that embraces the African Mining Vision and the Chilean model. Speaking at a media conference ahead of the... 

Gahcho Kué mine, Canada

By: Sheila Barradas     3rd February 2017 A diamond mine located in Canada's Northwest Territories. 

Lucapa adopts low-risk strategy for new Lesotho diamond mine

By: Esmarie Swanepoel     31st January 2017 Diamond miner Lucapa Diamonds has been awarded the Mothae kimberlite project, in Lesotho, following a competitive international tender process. Lucapa acquired a 70% interest in the project for $9-million, payable over ten months. 

Botswana's Okavango diamond sales jump 80% in 2016

By: Reuters     30th January 2017 Botswana's State-owned Okavango Diamond Company's (ODC's) sales jumped 80% to $547-million in 2016 as global consumer demand rebounded, its deputy managing director said on Monday. Marcus ter Haar told Reuters that overall volumes also rose by 115% to 3.44-million carats after accounting for... 

Kimberley hopes to raise A$4m

By: Esmarie Swanepoel     27th January 2017 Diamond miner Kimberley Diamonds is hoping to raise more than A$4-million through a non-renounceable pro-rata rights issue. The company said on Friday that eligible shareholders would be allowed to purchase one new share for every existing Kimberley share held, with the shares to be priced at 2c... 

Mountain Province banks first diamond sales from Gahcho Kué

By: Henry Lazenby     27th January 2017 Mountain Province Diamonds, which partly owns the Gahcho Kué mine in Canada's Northwest Territories, has completed the mine’s first diamond sale. A total of 49 420 ct were sold for about $6.27-million, representing an average price of about $127/ct. 

Amtec

     27th January 2017 Witbank-based Applied Mineral Technologies (Amtec) specialises in the construction of materials handling systems and processing plants. “Amtec is especially proficient and experienced in brownfield and shutdown construction activities having successfully undertaken many ‘difficult’ projects in... 

Completion of Mindola shaft expected in 2019

By: Nadine James     27th January 2017 The Mindola Deeps shaft sinking project in Kitwe, Zambia, should be completed by June 2018, marking the first time that a 2 000 m shaft will be raise drilled, says mining contractor Redpath Mining. The project, which is owned by diversified mining and marketing company Glencore’s Zambian copper... 

S Africa must focus on fostering foreign investment

By: Robyn Wilkinson     27th January 2017 The South African government needs to concentrate on creating a more inviting investment environment for foreign investors if it is to take advantage of future upturns in commodities prices and remain competitive in the global market, says specialist financial adviser Craton Capital cofounder... 

UK scientists develop ‘power generating’ diamond

By: Ilan Solomons     27th January 2017 New technology has been developed that uses nuclear waste to generate electricity in a nuclear-powered battery. A team of physicists and chemists from the University of Bristol have grown a man-made diamond that, when placed in a radioactive field, is able to generate a small electrical current.... 

Firestone Diamonds gears up for first sale as Liqhobong ramps up

By: Megan van Wyngaardt     26th January 2017 Aim-listed Firestone Diamonds has scheduled its first diamond sale, in Antwerp, from February 6 to 10, as its Liqhobong mine, in Lesotho, ramps up to full output. In the three months ended December 31, the company recovered over 20 special stones larger than 10.8 ct from the mine, including a 37... 

Richmont cherry-picks Stornoway CFO

By: Henry Lazenby     26th January 2017 Intermediate gold miner Richmont Mines has hired 20-year mining finance veteran Robert Chausse as CFO, cherry-picking him from Quebec diamond miner Stornoway Diamonds, which last year commissioned its Renard project. Chausse, a chartered accountant, previously held a similar role at AuRico Gold,... 

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