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Topic

Botswana to name developer of $4bn plant by December

By: Bloomberg     27th September 2017 Botswana Oil will choose by December a company to build and operate a $4-billion coal-to-liquids (CTL) plant, a facility it said may meet as much as 80% of the Southern African country’s fuel demand. The state-owned oil firm received 11 bids by its August deadline and is subjecting them to... 

Stellar Diamonds pays for Tongo environmental licence

By: Anine Kilian     26th September 2017 Aim-listed Stellar Diamonds has paid the Sierra Leone Environmental Agency $150 240 for an environmental licence for its Tongo project. The payment of the environmental licence fee is an important step in Stellar being issued the large-scale mining licence for the Tongo project. 

Lucara sells giant ‘Lesedi La Rona’ diamond for $53m

By: Henry Lazenby     25th September 2017 Canadian diamond junior Lucara Diamond Corp has sold its 1 109 ct ‘Lesedi La Rona’ diamond for $53-million, or $47 777/ct, the company announced on Monday. Discovered in November 2015, the precious stone ranks as the second-largest diamond ever found, and consolidates the company’s flagship... 

Offer for Rockwell affiliates flops on BRP haste; orderly wind down still planned

By: Henry Lazenby     23rd September 2017 Bankrupt alluvial diamond miner Rockwell Diamonds advised on Friday that it has received two offers which, when combined, would have been able to buy out the Canadian company’s distressed South African subsidiaries. However, an untimely motion to place the affiliates into provisional liquidation... 

Giant pink diamond discovered could be Alrosa's most expensive

By: Bloomberg     22nd September 2017 Russia’s Alrosa has unearthed a pink diamond that the gem giant says could be the most expensive it has ever found. Alrosa, which produces more stones than anyone else, found the 27.85 ct pink gem at its alluvial mines in Russia’s Far East. The company said the biggest pink diamond it had... 

NUM continues strike at Petra’s Finsch mine, to down tools at Koffiefontein after wage deadlock

By: Natasha Odendaal     21st September 2017 The National Union of Mineworkers (NUM) has issued Petra Diamonds with a 48-hour notice for a planned, protected strike at the Koffiefontein mine, in Northern Cape. The union on Thursday said it would withdraw all members from the mine, starting on Saturday morning, until Petra accedes to the... 

Mining's biggest mystery is what Agarwal plans to do with Anglo

By: Bloomberg     21st September 2017 As Anglo American’s board met at the lavish Vergelegen wine estate in South Africa yesterday evening as part of a 100-year celebration, executives were blindsided by news headlines: Indian mining tycoon Anil Agarwal was becoming the biggest shareholder. After Anglo’s managers partied to honor the... 

BlueRock’s Kareevlei nearing 25 000 t/m production target

By: Creamer Media Reporter      19th September 2017 Production at Aim-listed BlueRock Diamonds’ Kareevlei mine, in the Northern Cape, is now in excess of 20 000 t/m and is nearing the targeted 25 000 t/m. Reporting on its results for the six months to June 30, BlueRock on Tuesday noted that the average grade at the mine also continues to increase... 

Gem recovers 115 ct diamond at Letšeng

     19th September 2017 LSE-listed Gem Diamonds has recovered a high-quality 115 ct, D colour Type IIa diamond from its Letšeng mine, in Lesotho.   This follows the recovery of five other diamonds of over 100 ct so far this year from the mine. 

Petra’s Finsch, Kimberley Ekapa Mining JV impacted by labour disruption

By: Creamer Media Reporter      19th September 2017 Aim-listed Petra Diamonds’ Finsch and Kimberley Ekapa Mining joint venture operations are being affected by a labour disruption that started on Monday evening. Underground and surface mining operations are affected, but plant treatment is continuing at near normal capacity, treating surface... 

Mountain Province reports lowest prices yet for Gahcho Kué diamonds

By: Henry Lazenby     19th September 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones fall to the lowest level since sales started in January. The September tender included an unusually large proportion of small... 

Petra’s FY17 profit down 69% y/y; company restarts Tanzania mine

By: Creamer Media Reporter      18th September 2017 The delayed ramp-up of expansion programmes, rising on-mine cash costs and a stronger rand have negatively impacted on LSE-listed Petra Diamonds’ financial results for the 2017 financial year, with net profit down 69% year-on-year to $20.7-million. Cash generated from operations was down 10%... 

Tanzanian leader's war for taxes puts economy in firing line 

By: Bloomberg     18th September 2017 Tanzanian President John Magufuli’s deepening dispute with companies he accuses of being tax cheats is rattling investors and dimming the allure of one of Africa’s fastest-growing economies. Since taking office in late 2015, Magufuli has been on a drive to increase revenue from natural resources... 

Rockwell perplexed as BRP opts to place 3 subsidiaries into liquidation, despite possible offer

By: Henry Lazenby     18th September 2017 Canadian alluvial diamond miner Rockwell Diamonds remains in the dark as to why business rescue practitioner (BRP) Metis Strategic Advisors had chosen to file a motion in the Kimberley High Court, on Thursday, to place the company's three subsidiaries back in provisional liquidation, when a... 

Lesotho’s Letšeng mine recovers several 100-ct-plus diamonds, expects trend to continue

By: Ilan Solomons     15th September 2017 The Letšeng diamond mine, in Lesotho, recovered several diamonds larger than 100 ct during the first half of 2017, with LSE-listed diamond miner Gem Diamonds upbeat that this trend will continue for the remainder of the year. These gems include the 114.38 ct Type II, the 126 ct D-colour Type IIa... 

Lesotho’s Letšeng mine recovers several 100-ct-plus diamonds, expects trend to continue

By: Ilan Solomons     15th September 2017 The Letšeng diamond mine, in Lesotho, recovered several diamonds larger than 100 ct during the first half of 2017, with LSE-listed diamond miner Gem Diamonds upbeat that this trend will continue for the remainder of the year. These gems include the 114.38 ct Type II, 126 ct D-colour Type IIa,... 

Mining industry urged to do more to prevent further fatalities in 2017

By: Ilan Solomons     15th September 2017 The recent spike in fatalities at South African mines, with the most recent occurring at Harmony Gold’s Kusasalethu mine, near Carletonville, should serve as a timely reminder to the mining industry that a significant step change in health and safety practices is needed to ensure the goal of zero... 

SPARKLING EXCELLENCE

By: Martin Creamer     15th September 2017 The Dynasty, above, cut from a 179 ct rough diamond discovered in Russia by State diamond company Alrosa, is a 51.38 ct traditional round brilliant-cut diamond, with 57 facets. It has the potential to be most expensive diamond ever sold in Russian history when it is auctioned online in November.... 

Shifting relationship dynamics, higher earnings see more women buying their own diamond jewellery

By: Creamer Media Reporter      14th September 2017 More women are buying diamond jewellery for themselves, resulting in new growth opportunities for the diamond industry. De Beers' latest ‘Diamond Insight Report’, published on Thursday shows that more than a quarter of women’s diamond jewellery bought in 2016 in each of the four main consumer... 

Campaign for more diamond ads wins support from India's gem hub

By: Bloomberg     14th September 2017 The push for bigger diamond advertising campaigns and marketing to wealthy millennials has won support from a key part of the industry: India’s manufacturers and retailers. India’s Gem & Jewellery Export Promotion Council, which represents almost 6 000 diamond companies, has agreed to contribute... 

De Beers is said to hire leak hunter to probe gem data breach

By: Bloomberg     14th September 2017 The world’s biggest diamond producer hired an external investigator to find the source of possible leaks of its most sensitive price data, according to people familiar with the matter. De Beers hired investigators from KPMG International in South Africa to find the source of the leaks, according... 

Botswana Diamonds plans additional drilling at South Africa project

By: Mia Breytenbach     12th September 2017 Aim-listed Botswana Diamonds’ shares on the LSE rose by nearly 20% on Tuesday as the company announced it would start large diameter drilling (LDD) at the Zebediela project, in Limpopo, in October. Zebediela forms part of the Vutomi Joint Venture project, at Frischgewaagt. 

Lucara completes diamond recovery capital projects

By: Creamer Media Reporter      12th September 2017 Lucara Diamond Corp has completed the Mega Diamond Recovery (MDR) and sub-middles XRT capital projects at its Karowe mine, in Botswana, ahead of schedule. The MDR circuit treats material in the size range between 50 mm and 120 mm and is located directly post the primary crusher and ahead of the... 

Petra halts Williamson operations after key personnel questioned over seized diamond consignment

By: Natasha Odendaal     11th September 2017 London-listed Petra Diamonds on Monday said it had temporarily idled the operations of its 75%-owned Williamson mine, in Tanzania, for “health and safety and security reasons”, as key personnel cooperate with authorities over a blocked diamond shipment. The company on Monday confirmed that a... 

Stellar to raise £330 000 to pay for Tonga, Tonguma enviro licences

By: Natasha Odendaal     11th September 2017 London-listed Stellar Diamonds has conditionally raised, through Peterhouse Corporate Finance, £330 000 through the issue of 10.15-million new ordinary shares at an issue price of 3.25p a share. The placing is expected to be completed by September 14, conditional on the receipt of the funds in... 

Diamonds fund Zimbabwe political oppression, Global Witness says

By: Bloomberg     11th September 2017 Zimbabwe’s government is using money earned from diamond exports to fund its Central Intelligence Organisation, blamed for a raft of human-rights abuses as it’s helped to keep President Robert Mugabe in power since 1980, Global Witness said. Diamonds dug from the Marange fields in eastern... 

Proxy advisers ISS, Glass Lewis support Washington Companies’ $1.2bn Dominion buy

By: Henry Lazenby     9th September 2017 TSX- and NYSE-listed Dominion Diamond Corp announced late on Thursday that proxy advisory firms Institutional Shareholder Services (ISS) and Glass, Lewis & Co have both recommended that Dominion shareholders vote in favour of suitor The Washington Companies’ $1.2-billion acquisition.... 

Tanzanian ministers implicated in diamond-mining probe quit

By: Bloomberg     8th September 2017 Two Tanzanian ministers resigned after President John Magufuli told government officials suspected of wrongdoing in an investigation into the nation’s diamond- and Tanzanite-mining industries to step down. Edwin Ngonyani, a deputy minister of works, transport and communication, said he resigned... 

Lucapa sells more diamonds, eyes second mine

By: Esmarie Swanepoel     8th September 2017 ASX-listed diamond miner Lucapa has reported gross proceeds of $7.4-million from its seventh sale of alluvial diamonds from the Lulo diamond project, in Angola. The company said that it had sold 3 214 ct in the last tender at an average of $2 298/ct. 

Myriad of opportunities in Zim’s mining sector

     8th September 2017 Zimbabwe is poised for growth and, with the country committed to ensuring a sustainable growth path, there are a host of investment opportunities in the mining industry to be capitalised on. This is according to the investment promotion body Zimbabwe Investment Authority‘s Invest in Zimbabwe... 

Success at C-Cut, but earlier design input needed 

By: Marleny Arnoldi     8th September 2017 Wear solutions provider Rio-Carb completed a liner supply project for diamond miner Petra Diamonds’ Cullinan mine, near Pretoria, in Gauteng, in June.  

Mining production growth slows to 0.9% y/y in July

By: Anine Kilian     7th September 2017 Mining production growth slowed to 0.9% year-on-year in July, compared with production growth of 1.3% year-on-year in June. Statistics South Africa’s (Stats SA’s) latest mining production report, published on Thursday, showed that manganese ore, chromium ore, diamonds and gold were the main... 

Alrosa records slight y-o-y increase in August diamond sales

By: Mariaan Webb     7th September 2017 Russian diamond major Alrosa on Thursday reported a 3.3% year-on-year increase in rough and polished diamond sales, in what is traditionally a low season for trading. The company sold $257.6-million worth of diamonds in August, comprising rough diamond sales of $255.7-million and polished diamond... 

Chamber of Mines launches Mining for Schools initiative

By: Anine Kilian     6th September 2017 The Chamber of Mines has launched its Mining for Schools initiative, an online platform to provide resources for teachers and learners to reinforce, enhance and extend learning about the South African mining industry. The first module of the website focusses on gold, as that is the current focus... 

Russia plans gem reform to compete with India's million workers

By: Bloomberg     6th September 2017 Russia wants its biggest diamond miner to work more closely with the country’s top gem cutters so the industry can better compete in a market that’s dominated by Indian manufacturers. As part of a plan to boost the competitiveness of Russian diamonds, the government wants  Alrosa PJSC to offer... 

De Beers rough diamond sales drop in cycle 7

By: Natasha Odendaal     5th September 2017 Diamond giant De Beers’ seventh sales cycle for this year saw a decline in the value of rough diamonds sold after some of the demand was absorbed in cycle six owing to an early Diwali. De Beers recorded a provisional $505-million in diamond sales during the seventh cycle, compared with... 

Alrosa’s Ivanov appointed to Diamond Producers Association board

By: Creamer Media Reporter      4th September 2017 Russian mining giant Alrosa president Sergey Ivanov has been appointed to the board of the Diamond Producers Association (DPA). Founded in 2015, the DPA comprises seven leading diamond producers and aims to promote the industry through the implementation of marketing initiatives.  

Fatalities serve to remind industry of necessity to achieve zero harm – DMR

By: Ilan Solomons     1st September 2017 The recent spike in fatalities at South African mines, with the most recent occurring at Harmony Gold’s Kusasalethu mine, near Carletonville, should serve as a timely reminder to the mining industry that a significant step change in health and safety practices is needed to ensure the goal of zero... 

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