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Au 1334.59 $/oz Change: 6.47
Pt 1013.00 $/oz Change: 14.93
 

Topic

Botswana Diamonds’ Vutomi licences extended adjacent to Frischgewaagt

By: Natasha Odendaal     17th July 2017 Dual-listed Botswana Diamonds has been granted a prospecting licence over an additional 1 000 ha immediately east of and contiguous to its Frischgewaagt project, in South Africa. The explorer’s current drilling programme, which is expected to start within weeks, will be extended into the new... 

Dominion is said to seek sweeter deal from Montana billionaire

By: Bloomberg     15th July 2017 Canada’s Dominion Diamond Corp is hoping Montana billionaire Dennis Washington will cough up a little more cash to buy the world’s third-largest producer of rough diamonds by value. However, the company – which has put itself on the block twice in the past two years – says there’s no guarantee a... 

Having stemmed flow of conflict diamonds, new WDC acting president to stay course

By: Henry Lazenby     15th July 2017 The World Diamond Council (WDC) will stay its course, focused on its primary mission of curbing the trade in conflict diamonds, under new acting president Stephane Fischler, who took the helm on July 1 from Andrey Polyakov, who has resigned. “We have succeeded in almost totally eradicating... 

Kimberlite discovered on Vutomi licence

By: Anine Kilian     14th July 2017 Aim-and BSE-listed Botswana Diamonds has identified a Group 2 kimberlite pipe at its Ontevreden licence, in South Africa’s North West province, which is held by diamond deposit explorer Vutomi. Initial work indicates an area of between 1.5 ha and 2.5 ha containing high-interest garnets.   

Rough diamond market stable – Alrosa

By: Creamer Media Reporter      14th July 2017 Diamond mining major Alrosa has sold $2.497-billion worth of rough and polished diamonds in the first six months of 2017. Rough diamond sales comprised $2.442-billion of the total sales. 

Historic diamond hub feels the brunt as Americans buy fewer gems

By: Bloomberg     14th July 2017 An ugly year for diamonds in the vital US market is piling pressure on Europe’s historic center of the $80-billion global trade. Diamond trading companies in the Belgian port city of Antwerp, which has been the industry’s trading capital for five centuries, were already feeling the pinch from a... 

Demand for African resources, but common codes needed

By: Simone Liedtke     14th July 2017 African mining has entered into the new up-cycle for commodities, which is fuelled by the economic growth profile in the eastern hemisphere – which includes China, Mongolia and the Pacific rim region, as well as the global uncertainty over the value of and the sustained availability of ‘cash-money’. 

Initiatives launched to probe unexploited potential of diamond-bearing gravel deposits, other minerals

By: Ilan Solomons     14th July 2017 The South African mining sector is currently facing a decline and in an attempt to stimulate and support renewed mining activities, the Council for Geoscience (CGS) has launched a number of projects funded by the Department of Energy (DoE) aimed at investigating the unexploited potential of... 

Pockets of potential bode well for future

By: Nica Schreuder     14th July 2017 The expected turning point in the African mining sector has not yet occurred, owing to continued soft economic growth in emerging economies allied to uneven global economic recoveries, divergent monetary policies and significant geopolitical/social issues, which continue to create further... 

Alrosa reaffirms investments in projects in Angola, at home

By: Keith Campbell     14th July 2017 Russian diamond miner Alrosa has reaffirmed its confidence in the future of diamond mining in Angola. “We see a lot of potential in our infrastructure projects, including those in Angola,” stated Alrosa president Sergey Ivanov at the groups’ Annual General Meeting (AGM) at the end of last month.... 

Stornoway missing out on improved market price for Renard diamonds; completes ramp-up

By: Henry Lazenby     12th July 2017 Canadian diamond producer Stornoway Diamond Corp reveals that ongoing diamond breakage in the Renard process plant are reducing the proportion of larger diamonds available for sale and dimming revenues, while market sentiment for Renard’s precious gems is on the up. The Longueuil, Quebec-based... 

Winmar eyes new projects in Iberian Pyrite Belt

By: Mariaan Webb     11th July 2017 Australia’s Winmar Resources is assessing additional projects in the Iberian Pyrite Belt and is in discussions with a number of parties holding properties in the region, the company said this week, as it announced that it had stopped all significant expenditures at the Lomero joint venture (JV)... 

Anglo is said to opt for De Beers' historic London base as new HQ

By: Bloomberg     11th July 2017 Anglo American plans to redevelop the historical premises of its De Beers diamond unit after choosing the building as its preferred option for a new London headquarters, according to people with knowledge of the plan. The company intends to modernise the Charterhouse Street property and then... 

Botswana Diamonds refines Frischgewaagt grade estimates

By: Natasha Odendaal     11th July 2017 Aim-listed Botswana Diamonds has refined its Vutomi joint venture’s estimate for the grade at its Frischgewaagt project, in South Africa. This followed the inclusion of the results of the bulk sample and an update to the estimation analysis technique, which indicated a medium grade of 78 carats... 

Diamcor sells 2 000 ct in final June tender

By: Anine Kilian     10th July 2017 TSX-V-listed Diamcor Mining sold 2 153 ct of rough diamonds for gross proceeds of $338 380, resulting in an average price of $157.16/ct in a third and final tender and sale for the quarter completed in June. This brings the total rough diamonds tendered and sold from the initial processing of... 

Diamond firm's seized assets ordered to be returned by court

By: Bloomberg     7th July 2017 A Belgian court ordered lender KBC Group to return seized assets from one of the diamond industry’s most storied names within 24 hours, a court ruling shows. Exelco was on track to repay loans to KBC by 2020 as planned, so the lender’s early seizure of assets was unnecessary, the Antwerp court... 

Diverse footprint keeps orders coming in during downturn 

By: Victor Moolman     7th July 2017 The wide geographic spread of Barloworld Equipment, the South African distributor of US-based construction equipment manufacturer Caterpillar’s products, insulates it from the effects of mining cycles that may challenge the sustainability of some of its competitors. 

Gem Diamonds recovers 126 ct diamond from Letšeng

By: Natasha Odendaal     6th July 2017 LSE-listed Gem Diamonds on Thursday unveiled its latest recovery from its Letšeng mine, in Lesotho – a high-quality 126 ct, D-colour Type IIa diamond. This followed the recovery of a high-quality 104.73 ct D-colour Type IIa diamond and a 151.52 ct Type I yellow diamond in June, an exceptional... 

Belgian bank KBC seizes assets from storied Antwerp diamond firm

By: Bloomberg     4th July 2017 Belgian bank KBC Group seized assets from one of the diamond industry’s most storied names as it seeks to recover unpaid loans, according to court documents. KBC is seeking to recover €26-million ($29-million) from Exelco, and had bailiffs search the firm’s Antwerp offices as well as offices... 

Kenya reviews mining laws as industry struggles to grow

By: Bloomberg     4th July 2017 Kenya is reviewing its mining code, a year after enacting new legislation, as it seeks to attract investment into an industry that’s barely grown over the past five years. The government is working with the UK Department for International Development-funded Extractives Hub to come up with a... 

Sibanye appoints VP to head up US region

By: Megan van Wyngaardt     3rd July 2017 Dual-listed Sibanye has appointed Chris Bateman its US region’s executive VP, the gold and platinum miner said on Monday. In addition to heading up the region and leading the team at the Stillwater operations, Bateman will join Sibanye’s executive committee. 

Stellar extends transaction longstop date with Octea Mining

By: Creamer Media Reporter      3rd July 2017 London-listed Stellar Diamonds on Monday said it had extended, by two weeks, the longstop date with Octea Mining for the satisfaction of certain of the conditions precedent of the binding tribute mining and revenue agreements for the Tongo-Tonguma mine development project, in Sierra Leone. The... 

Funding dearth, restrictive laws and lack of leadership from govt stifling SA junior miners

By: Dylan Slater     30th June 2017 The junior mining sector in South Africa has “huge potential” to grow and re-establish itself in the domestic mining environment; however, this potential is being blunted by a lack of funding, restrictive legislation and a lack of leadership from the Department of Mineral Resources (DMR) and... 

Company seeks strategic partners as it aims to mine diamonds off the West Coast

By: Ilan Solomons     30th June 2017 Local diamond exploration company Mza Diamonds Resources is calling for expressions of interest from marine mining companies to join the company to deploy remote marine mining equipment to extract diamonds from its number 7B mid-water diamond concession, off the West Coast of South Africa. The... 

Funding dearth, restrictive laws and lack of leadership from govt stifling SA junior miners

By: Dylan Slater     30th June 2017 The junior mining sector in South Africa has “huge potential” to grow and re-establish itself in the domestic mining environment; however, this potential is being blunted by a lack of funding, restrictive legislation and a lack of leadership from the Department of Mineral Resources (DMR) and... 

Court hearing on liquidation application against Rockwell subsidiaries postponed

By: Megan van Wyngaardt     29th June 2017 A court hearing to consider the merits of the liquidation application against three subsidiaries of dual-listed Rockwell Diamonds, has been postponed to October 31. The hearing had originally been scheduled for June 22; however, this would be prior to Rockwell Diamonds’ filing of a proposed... 

WDC president to resign by end of week

By: Creamer Media Reporter      29th June 2017 Andrey Polyakov will resign as president of the World Diamond Council (WDC) by the end of the week. VP Stephane Fischler will serve as acting president from July 1 until May 1, 2018, when he will start his two-year term as WDC president.  

Petra still expecting record production, despite lowering FY guidance

By: Megan van Wyngaardt     28th June 2017 A slower-than-anticipated build-up of its expansion programmes has prompted Petra Diamonds to lower its full-year production guidance by 8% to 9% from the 4.4-million previously targeted. This, the LSE-listed diamond miner said, would have a coinciding 8% to 9% impact on its revenue, which will... 

Gahcho Kué prices fetch new high at $95/ct

By: Henry Lazenby     28th June 2017 Mountain Province Diamonds has recorded its highest average price to date for diamonds produced at its 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, as it collected $21.1-million at its June tender sale. The company on Tuesday reported that the fifth tender of rough diamonds from... 

Shore Gold consolidates Star-Orion South diamond project, inks earn-in with Rio Tinto

By: Henry Lazenby     24th June 2017 TSX-listed project developer Shore Gold has consolidated its ownership in the Star-Orion South diamond project, in Saskatchewan, after buying Newmont Canada FN Holdings’ 31% interest in the Fort à la Corne joint venture (FalC JV), the company announced on Friday. With a resulting 100% ownership... 

BCL liquidation poser for Botswana diamond exploration JV

By: Ilan Solomons     23rd June 2017 Diamond explorer and project developer Botswana Diamonds is weighing its options in resolving the corporate governance issues relating to its Maibwe joint venture (JV) exploration project, in the emerging diamond province of Gope in Botswana, says MD James Campbell. The Maibwe JV consists of a... 

High-quality products equal reduced maintenance on mines

By: Marleny Arnoldi     23rd June 2017 To lower maintenance costs and increase plant efficiency in trying economic times, gratings, stair treads, pressed floors and safety handrails manufacturer Vital Engineering offers clients service level agreements (SLAs) after the completion of projects.  

Botswana diamond industry goes ex-growth, diamond exploration funds not forthcoming, Botswana determined to be investor friendly

By: Martin Creamer     23rd June 2017 With Botswana's diamond secor going ex-growth, a storng call has been made for the country to consider adopting Canada's flow-through tax incentive as a way of boosting investment in diamond exploration in Botswana, where the new Mineral Resources Minister is determined to make the country's... 

Golden Saint recovers 14 diamonds from Tongo

By: Megan van Wyngaardt     22nd June 2017 West Africa-focused diamond and gold exploration company Golden Saint has recovered 14 diamonds, weighing a total of 10.46 ct, from its Tongo licence, in Sierra Leone. The diamonds range from 0.25 ct to 2.15 ct apiece, while some 23.62 g of alluvial gold was also recovered from the gravels treated. 

Firestone increases guidance as Liqhobong throughput rises

By: Megan van Wyngaardt     22nd June 2017 Firestone Diamonds now expects to recover around 360 000 ct of diamonds in the financial year ending June 30, against April’s guidance of 300 000 ct, owing to operational ramp-up at its Liqhobong mine, in Lesotho, achieving nameplate throughput capacity on multiple occasions since the start of... 

Latest sales cycle earns De Beers $530m

By: Megan van Wyngaardt     20th June 2017 Diamond miner De Beers’ fifth sales cycle for the year generated revenue of $530-million. While this was up from the $522-million of diamonds sold in the fourth sales cycle, sales were lower than the $546-million earned in the fifth cycle in 2016. 

Lucapa adds to revenues

By: Esmarie Swanepoel     19th June 2017 ASX-listed Lucapa Diamond Company has generated another A$1.25-million in revenue through the sale of 1 236 ct of diamonds from the Lulo mine, in Angola. Lucapa said on Monday that the latest parcel of diamond sales achieved an average price of A$1 013/ct. 

Kimberley Diamonds goes into administration

By: Esmarie Swanepoel     16th June 2017 Embattled Kimberley Diamonds has reportedly entered voluntary administration only days after its Lerala diamond mine, in Botswana, was closed. Kimberley delisted from the ASX in March this year, and the Lerala mine was reportedly closed on June 1, with the company citing weak market conditions. 

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