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Topic

Service impresses, leads to ongoing work at Balama

By: Nadine James     1st September 2017 Prefabricated buildings manufacturer Kwikspace Modular Buildings expects to complete a multimillion-rand project for Mozambique mining company Twigg Exploration & Mining by the end of next month. Kwikspace CEO Shaun McCormack notes that the company first started work on Twigg’s Balama graphite... 

South Africa Inc has rare opportunity to seize moment to save battered platinum patrimony

By: Martin Creamer     1st September 2017 South Africa, through diamond company De Beers, invested heavily in the marketing of diamonds. The slogan ‘A Diamond is Forever’, according to Advertising Age, it is the most recognised slogan of the 20th century, with 90% of all Americans knowing it, with De Beers having used it since 1948. But... 

De Beers marketing spend increase will boost global diamond sales – Blom

By: Creamer Media Reporter      30th August 2017 The global diamond and jewellery industries will benefit from De Beers and the Diamond Producers Association’s (DPA’s) increased marketing budgets, says World Federation of Diamond Bourses (WFDB) president Ernie Blom. Diamond miner De Beers on Tuesday reported that it would invest more than... 

Rio unveils red diamond from Argyle

By: Esmarie Swanepoel     30th August 2017 Mining major Rio Tinto has unveiled a 2.11 ct fancy red diamond in its latest tender of diamonds from the Argyle mine, in Australia. CEO Jean-Sebastian Jacques said this week that the market fundamentals for pink diamonds remained robust, adding that the combination of healthy demand and... 

De Beers pours cash in diamond ads with biggest spend since 2008

By: Bloomberg     29th August 2017 De Beers is planning to spend more money advertising diamonds than any time in the past decade to win back wealthy shoppers. The company, a unit of Anglo American Plc, boosted its marketing budget to $140-million this year, the most since 2008, according to a statement on Tuesday. Its three... 

World's first diamond futures exchange starts trading in India

By: Bloomberg     28th August 2017 The world’s first diamond futures exchange will begin trading in India on Monday, enabling companies in the largest producer of the cut and polished gems to better hedge price risks. “Indian manufacturers most require this type of financial product,” said Sanjit Prasad, MD of the Indian... 

Angola pushes mining production increases and diversification

By: Keith Campbell     25th August 2017 Angola’s State-owned diamond group Endiama is going to encourage the development of semi-industrial cooperatives in each and every province of the country, to explore for diamonds. This was stated by Endiama Board member and group Director of Geology Luís Quitamba, the Angolan news agency Angop... 

Appointments follow acquisition of only US PGMs miner

     25th August 2017 Independent mining group Sibanye has appointed three executives following its acquisition of the only platinum group metals (PGMs) miner in the US, Stillwater Mining, in May, when its organisational structure subsequently repositioned from a divisional commodity structure to a geographical... 

Kareevlei grades, tender prices improve

By: Creamer Media Reporter      24th August 2017 Aim-listed BlueRock Diamonds has sold a parcel of 400.06 ct of diamonds, at an average price of $330/ct, in an August tender. The company, which operates the Kareevlei diamond mine, near Kimberley, on Thursday noted that the diamonds produced and sold at the tender had resulted in a grade of 2.07... 

Huge opportunity to create more demand for platinum – PGI 

By: Martin Creamer     23rd August 2017 The South African platinum industry has been investing in platinum jewellery for more than 45 years through the Platinum Guild International (PGI), which has turned platinum jewellery into an amazing South African asset. Of all the platinum demand levers, platinum in jewellery is the one that can... 

Rockwell files for delisting shares from TSX

By: Henry Lazenby     22nd August 2017 Careworn alluvial diamond producer Rockwell Diamonds has decided to delist from the TSX, and instead list on the NEX, a third-tier trading forum for listed companies that have fallen below TSX Venture's ongoing listing standards. The move follows the company’s South African subsidiaries entering... 

DRC mining code’s shortcomings limiting sector’s contribution to fiscus – senator

By: Ilan Solomons     18th August 2017 The mining industry and the production of copper and cobalt in particular is of vital importance to the economy of the Democratic Republic of Congo (DRC). However, political, social and legislative stability is critical to ensuring the growth and sustainability of the sector, says DRC Senator... 

Local mine to adopt new generation jumbo drill rig

By: Simone Liedtke     18th August 2017 Mining company Vedanta Resources’ Black Mountain base metals mine, in the Northern Cape, will later this year become the first local mine to adopt a new generation jumbo drill rig equipped with an intelligent control system from high-technology engineering group Sandvik. 

Gem mulls Ghaghoo buyout offer; H1 revenues decrease

By: Creamer Media Reporter      17th August 2017 LSE-listed Gem Diamonds, which on Thursday reported lower revenue and earnings for the six months to June 30, is considering an offer from an undisclosed party that is interested in buying its Ghaghoo mine, in Botswana, which was placed on care and maintenance earlier this year. The company in... 

Lucapa recovers more large diamonds

By: Esmarie Swanepoel     17th August 2017 Diamond miner Lucapa Diamond Company has recovered more large diamonds from its Lulo project, in Angola, including 83 ct and 68 ct Type IIa gems. In addition, five other 50-plus carat stones were also recovered. 

Despite ongoing diamond breakage, Stornoway reports higher prices for its gems

By: Henry Lazenby     16th August 2017 Quebec-based miner Stornoway Diamond Corp has reported higher prices for rough diamonds produced at its flagship Renard mine, the Francophone province’s first diamond mine. For the three months ended June 30, Stornoway earned revenues of C$42.6-million, as rising rough diamond prices at Renard... 

Stellar extends exclusivity period for due diligence of Guinea assets

By: Natasha Odendaal     14th August 2017 Aim-listed Stellar Diamonds has extended the exclusivity period with financial corporation BDG Capital to August 31 for the conclusion of the due diligence process for the disposal of Stellar’s Guinea assets. In June, the West Africa-focused diamond company entered into a conditional binding term... 

Alrosa says 2017 output target unchanged despite accident - Ifax

By: Reuters     14th August 2017 Russian state-controlled diamond miner Alrosa's 2017 production plans remain unchanged despite an accident at its Mir underground mine in eastern Siberia, it said on Monday. Rescue teams are still searching for eight workers in Alrosa's underground Mir mine in the remote Yakutia region of... 

Increased mining royalties, new mining agency a boost to Brazil’s long-term outlook 

By: Henry Lazenby     11th August 2017 Increased mining royalties and a new mining agency, coupled with generally clearer and more consistent regulations, are expected to provide an overall boost to the long-term outlook of Brazil’s resources industry, according to a recent report by Fitch Group-affiliated market analyst BMI Research.... 

Outlook stable for Anglo American – S&P's

By: Anine Kilian     11th August 2017 Ratings agency Standard and Poor’s (S&P’s) has given global mining company Anglo American a stable outlook, raising its long- and short-term corporate credit ratings to BBB-/A-3 from BB+/B. The agency also raised Anglo American’s long-term South Africa national scale rating to zaAAA from zaAA+,... 

C-Cut Phase 1 project 89% complete, three months ahead of schedule

By: David Oliveira     11th August 2017 LSE-listed diamond miner Petra Diamonds’ R4,6-billion C-Cut Phase 1 expansion programme at its Cullinan mine, in Gauteng, is three months ahead of schedule. This is according to Petra Diamonds mining executive Teon Swanepoel, who spoke at an event sponsored by the Southern African Institute of... 

South Africa’s mining production down 0.8% y/y in June

By: Creamer Media Reporter      10th August 2017 South Africa’s mining production decreased by 0.8% year-on-year in June, driven by lower gold, iron-ore and platinum group metals (PGMs) output. Gold production was down 3.6% year-on-year, while iron-ore output slid 4.4% year-on-year and PGMs 13.7% year-on-year. 

Free African mining projects report offered to advertisers

     10th August 2017 Companies advertising in the September edition of the Projects in Progress Supplement will receive a FREE copy of Creamer Media’s African Mining Projects in Progress Research Report - normally valued at R1 950 (excluding VAT). The African Mining Projects in Progress Report tracks developments... 

BlueRock raises £860 000 for Kareevlei

By: Creamer Media Reporter      10th August 2017 Aim-listed BlueRock Diamonds has raised £860 000 through the issue of 68.8-million shares at a price of 1.25p apiece to further develop mining operations at its Kareevlei mine, near Kimberley, in the Northern Cape. BlueRock on Thursday said its blast programme at the mine had completed the... 

Washington picks new CEO to run $1.2bn Dominion Diamond

By: Bloomberg     10th August 2017 Montana-billionaire Dennis Washington has hired Patrick Evans to run Dominion Diamond Corp. after he agreed to buy the business for $1.2-billion last month. “We are pleased that Patrick will become CEO of Dominion Diamond Corp. upon closing of the transaction," said Lawrence Simkins, president of... 

Firestone Diamonds revises FY18 guidance downwards

By: Natasha Odendaal     8th August 2017 Aim-listed Firestone Diamonds’ Liqhobong diamond mine, in Lesotho, is now expected to produce between 800 000 ct and 850 000 ct in the 2018 financial year. This is lower than the one-million carats previously targeted and is expected to impact revenues in the financial year to June 30, 2018. 

Lucara lowers FY production, sales guidance

By: Anine Kilian     4th August 2017 Vancouver-based diamond producer Lucara Diamonds, which operates the Karowe mine, in Botswana, has lowered its full-year production guidance to between 265 000 ct and 285 000 ct, compared with the previously targeted 290 000 ct to 310 000 ct, as a result of lower mined ore volumes in the second... 

Diamcor FY17 revenue rises as Krone-Endora project advances

By: Anine Kilian     4th August 2017 TSX-V-listed Diamcor Mining reported earnings revenue of $5.93-million from the sale of 32 627.97 ct of rough diamonds at an average price of $136.89/ct in the financial year ended March 31. This compared with revenue of $4.47-million earned in the prior financial year from the sale of 24 068.01... 

De Beers to run auction in August

By: Anine Kilian     3rd August 2017 Owing to the success of its polished diamond auctions in June, JSE-listed De Beers’ auction sales business will run its next two polished diamond auctions on August 10 and August 24. Headlining the events is a 15 ct internally flawless fancy vivid yellow rectangle brilliant, as well as a 2 ct... 

Botswana Diamonds raises funds for Vutomi JV

By: Creamer Media Reporter      3rd August 2017 Aim-listed Botswana Diamonds has raised £868 576 through the issue of 79.48-million new ordinary shares to take its Vutomi JV project, at Frischgewaagt, in South Africa, to inferred resources status and to continue its exploration activities. Pursuant to the receipt of conversion notices from... 

De Beers announces new appointments to executive committee

By: Creamer Media Reporter      2nd August 2017 De Beers has appointed Ann Cormack executive head of human resources, David Prager executive VP of corporate affairs and Nancy Liu COO of Forevermark. Cormack will succeed Arthur Hewett as human resources executive head, as of October 2017. 

Romanov dynasty gets nod in trove with record Russia diamond

By: Bloomberg     2nd August 2017 The most-expensive diamond ever polished in Russia will be shown in Moscow as part of a collection of gems named after the dynasties of the Romanov-era Imperial Court. In 2015, Alrosa discovered a giant, 179-ct rough diamond in a mine in the northeast region of Sakha, naming it Romanov after the... 

Diwali boosts sales in De Beers’ sixth sales cycle

By: Creamer Media Reporter      1st August 2017 De Beers’ sixth sales cycle for this year saw the trend of consistently good demand for its rough diamonds continue, with $572-million of diamonds sold. This compares with the $528-million of diamonds sold in the sixth cycle of last year and the $541-million of diamonds sold in the fifth sales... 

PEA recommends opencut diamond mine in eastern Finland – Karelian

By: Mariaan Webb     1st August 2017 Dublin-headquartered Karelian Diamond Resources has received the results of a preliminary economic assessment (PEA) for its Lahtojoki kimberlite pipe in eastern Finland, which recommends that a mine should be developed to extract more than $200-million worth of diamonds. The PEA, which was... 

Zim piling up gold, diamonds to back new currency – VP

By: News24Wire      31st July 2017 Zimbabwe Vice President Emmerson Mnangagwa says the cash-strapped Zimbabwe government is piling up reserves of gold and diamonds to back a new local currency. But he did not say when the new currency would be introduced. 

Lucara’s search to sell giant ‘Lesedi La Rona’ diamond leads beyond the ‘Ferrari-buying type’

By: Henry Lazenby     29th July 2017 It is one thing to find big flawless diamonds, but an entirely different ball game to sell large diamonds as big as the ‘Lesedi La Rona’ stone that Lucara Diamond Corp recovered from its Karowe mine, in Botswana. “It’s difficult for people to understand what a rough diamond would yield. It’s hard... 

One-third of Angola now surveyed, thanks to Chinese assistance

By: Keith Campbell     28th July 2017 Angola’s ambassador to China, João Garcia Bires, has highlighted the role China is playing in supporting geological mapping in the African country. He told the Quarterly Bulletin of the Macau Forum that Chinese specialists were helping the Angolan authorities in cartographic surveying of the... 

UP short diamond course in October

By: Dylan Slater     28th July 2017 The sixth edition of a yearly short course on diamonds will take place at the University of Pretoria (UP) from October 24 to 26, with an insight-enhancing underground diamond mine excursion offered on October 27.  

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