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R/€ = 16.62 Change: -0.46
R/$ = 14.70 Change: -0.46
Au 1180.81 $/oz Change: -14.11
Pt 758.50 $/oz Change: -46.57
 

Topic

Water recovery issue keeps Diamcor’s Krone-Endora at Venetia project from full potential

By: Henry Lazenby     14th December 2017 Inadequate recoveries of water from project developer Diamcor Mining’s Krone-Endora at Venetia project's settling dams continues to hinder the project from reaching design capacity, resulting in lower output, the company announced on Wednesday. The Kelowna, British Columbia-based company advised... 

Gem in talks with new potential Ghaghoo buyers

By: Mia Breytenbach     12th December 2017 Aim-listed Gem Diamonds is in discussions with other parties who are interested in acquiring the Ghaghoo mine, in Botswana, after an offer from an undisclosed party to buy the mine was withdrawn. Gem on Tuesday informed shareholders that although the undisclosed party had made an offer in August... 

De Beers notes continued good demand for rough diamonds

By: Creamer Media Reporter      12th December 2017 Continued stable demand for diamonds resulted in De Beers generating $450-million in its tenth sales cycle of the year. This compares with the $466-million generated in the ninth sales cycle of this year and the $422-million earned in the tenth sales cycle of 2016. 

Tsodilo acquires sorter for final recovery at BK16

By: Natasha Odendaal     11th December 2017 TSX-V-listed Tsodilo Resources has finalised the final recovery circuit of the dense medium separation (DMS) plant at its BK16 kimberlite project, in Botswana, with the purchase of a Polus-M sorter from Russian X-ray sorter manufacturer Bourevestnik. The new sorter for the final recovery plant... 

New polishing facility a boost to Dubai’s status as a diamond trading centre

By: Dylan Slater     8th December 2017 The global diamond industry is either growing in affluent regions or remaining steady in less affluent ones, thereby reflecting a degree of positivity, as well as signs of growth. This also points to untapped potential that is ready to be unlocked through increased investment upstream and... 

New polishing facility a boost to Dubai’s status as a diamond trading centre

By: Dylan Slater     8th December 2017 The global diamond industry is either growing in affluent regions or remaining steady in less affluent regions, thereby showing a degree of positivity with signs of growth. This also points to a degree of untapped potential that is ready to be unlocked through increased investment upstream and... 

India Trade Ministry is said to seek lower tax on diamond miners

By: Bloomberg     7th December 2017 India’s Trade Ministry is seeking a cut in taxes for overseas diamond miners to boost trading in the world’s largest hub for polishing the gems, people with knowledge of the matter said. The Commerce Department in a letter to the Finance Ministry has sought to scrap levies and instead... 

World Diamond Council encourages open dialogue, reform

By: Mia Breytenbach     7th December 2017 The World Diamond Council has called for an open discussion about the Kimberley Process (KP) reform at the upcoming KP plenary, which will take place in Brisbane from December 9 to 14. As the voice of the diamond industry, the WDC is calling for all KP participants to join together in a... 

Mike Brown steps in as Gem Diamonds nonexecutive director

By: Dylan Slater     7th December 2017 Diamond producer Gem Diamonds is set to receive fresh blood as decade-sitting Gavin Beevers will not stand for re-election in 2018 as a nonexecutive director 

BlueRock surpasses monthly production target in Nov

By: Anine Kilian     5th December 2017 Aim-listed BlueRock Diamonds’ Kareevlei mine, in South Africa’s Northern Cape, surpassed its monthly target production of 25 000 t in November. Production increased by 56% month-on-month to 25 146 t. 

Mountain Province prices $330m senior second-lien notes to settle construction debt

By: Henry Lazenby     2nd December 2017 Diamond producer Mountain Province Diamonds has launched a $330-million debt financing to settle its Gahcho Kué project construction loan facility and to repay previously sunk expenses by the mine’s majority owner and operator De Beers Canada. The Toronto-headquartered company is offering senior... 

Firestone revises mine plan amid lower diamond values

By: Natasha Odendaal     1st December 2017 Aim-listed Firestone Diamonds has made a good start to mining at the Liqhobong mine, in Lesotho, with all operational targets within management's control having either been met or exceeded after the mine development project was completed within budget. However, lower-than-expected average diamond... 

Russia's 51-ct diamond named for Romanovs fails to sell

By: Bloomberg     1st December 2017 The most expensive diamond ever polished in Russia, named Dynasty after the Romanov-era Imperial Court, failed to sell in an auction. Alrosa said it didn’t receive a high enough offer for the 51.4-carat gem in a November 29 online auction. The stone has the best so-called triple excellence... 

Karowe to produce up to 290 000 ct in 2018

By: Anine Kilian     30th November 2017 Canadian diamond junior Lucara Diamond’s Karowe mine, in Botswana, is expected to process between 2.4-million and 2.7-million tonnes of ore and produce between 270 000 ct and 290 000 ct of diamonds in 2018.  In an update to shareholders on Thursday, the diamond miner noted that the performance of... 

Gem smuggling thwarts revival of Central African Republic

By: Bloomberg     29th November 2017 In the lounge of a luxury hotel in Bangui, the capital of war-torn Central African Republic, soft-spoken diamond dealers cautiously sidle up to guests. Their whispered offers of gems for sale are a visitor’s first hint of the thriving illegal market for the precious stones in a country that five... 

Gahcho Kué hits 5m carats in less than ten months

By: Henry Lazenby     29th November 2017 The 51%/49% De Beers and Mountain Province Diamonds-owned Gahchu Kué mine produced more than five-million carats of diamonds in the first ten months of 2017. Located in the remote Northwestern Territories of Canada, the mine declared commercial production in March, and is expected to produce an... 

Stellar receives tax clearance for Guinea asset sale

By: Creamer Media Reporter      28th November 2017 Aim-listed Stellar Diamonds has received the required tax clearance certificates, after completing all the necessary Guinean governmental tax payments, for the sale of its Guinea companies and assets to BDG Capital. BDG is completing its review of these documents after which it is expected that... 

De Beers’ Voorspoed diamond mine on market

By: Martin Creamer     27th November 2017 The decision of diamond giant De Beers to place its Voorspoed diamond mine on the market opens the way for a lower-cost operator to buy the mine and potentially extend its life, the company said on Monday, when it invited expressions of interest from prospective buyers and appointed Standard Bank... 

Agromining may provide new opportunities to extract remaining value from mined land

By: Mia Breytenbach     24th November 2017 With a significant portion of large mineral deposits having been discovered worldwide, and, in many cases, reaching the end of viable economic recovery, phytomining is one option that could be chosen to extract the remaining value from this mined ground, Florida International University... 

Agromining may provide new opportunities to extract remaining value from mined land

By: Mia Breytenbach     24th November 2017 With a significant portion of the large mineral deposits having been discovered worldwide, and in many cases reaching the end of viable economic recovery, phytomining is one option that could be chosen to extract the remaining value from this mined ground, Florida International University... 

Gem unearths 202 ct diamond

By: Megan van Wyngaardt     23rd November 2017 LSE-listed Gem Diamonds has recovered a high-quality 202 ct, D-colour Type IIa diamond from its Letšeng mine, in Lesotho. This is the seventh diamond of over 100 ct to be recovered from Letšeng this year. Letšeng is believed to be the highest dollar per carat kimberlite diamond mine in the world. 

Mountain Province records higher revenues from 9th diamond tender

By: Henry Lazenby     23rd November 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 strengthen, despite a cautious market. The Toronto-headquartered company, which has a 49% stake in the Gahcho Kué mine, in... 

De Beers JV starts planning construction of largest offshore diamond mining vessel

By: Natasha Odendaal     22nd November 2017 Planning for what could potentially be the world’s largest custom-built offshore diamond mining vessel has been initiated, diamond giant De Beers announced this week. The Government of Namibia and De Beers’ 50:50 joint venture Debmarine Namibia is aiming to start the operation of a new... 

Lucapa and Equigold deepen relationship

By: Megan van Wyngaardt     21st November 2017 Private Singaporean company Equigold is further increasing its shareholding in Africa-focused Lucapa Diamond Company by converting the last two scheduled quarterly repayments, totalling $3.75-million, into Lucapa shares. The companies in October agreed to enter a $15-million loan facility, which... 

De Beers Group Announces Shining Light Awards Finalists For 2016/2017

21st November 2017 Awards support emerging jewellery designers from southern Africa De Beers Group is pleased to announce the nine regional finalists in this year’s Shining Light Awards, which recognise emerging jewellery designers in Botswana, Namibia and South Africa and provide them with a valuable platform to... 

Lucapa sells 4 126 ct parcel for A$9.6m

By: Megan van Wyngaardt     20th November 2017 ASX-listed Lucapa Diamond Company sold 4 126 ct of diamonds, achieving proceeds of A$9.6-million at its eighth alluvial diamond sale for the year. Sold in conjunction with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, the diamonds from the Lulo project in Angola averaged A$2... 

Alrosa Q3 net profit halves on losses from flooded mine

By: Reuters     17th November 2017 Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine. The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir. 

Botswana Diamonds positive about potential at South African project

By: Anine Kilian     17th November 2017 A detailed ground geophysical survey undertaken on eight Group 1 kimberlites at Aim-listed Botswana Diamonds’ Free State exploration project, which is located between Bloemfontein and Kimberley, in South Africa, has indicated that the sizes of these kimberlites range from 0.3 ha to 1.15 ha. The... 

Holding thumbs for growth-positive High Court outcomes that will keep credit ratings agencies at bay

By: Martin Creamer     17th November 2017 South Africa is in desperate need of economic growth and the sector that can provide that growth, if unfettered, is mining. Make mining competitive, inclusive and transformative and it will deliver an economic momentum across its many economic linkages and float all boats. 

US 2.1 Billion mining project runs on Candy

16th November 2017 The De Beers Group started excavation work on an underground extension to its Venetia Mine in South Africa in 2013. The new development is expected to extend the life of the mine to 2046 and deliver about 96 million carats in diamonds. The US 2.1 billion project is the biggest investment in the... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Research Channel Africa 

By: Creamer Media Reporter      15th November 2017 Creamer Media’s Research Channel Africa is a powerful information tool.  When your company subscribes to the Research Channel Africa, found at www.researchchannel.co.za , you will have access to real-time intelligence on industry and mining in Africa. At you finger tips, you will be able to... 

Winmar withdraws from Spain JV, reduces salaries by 50%

By: Mariaan Webb     14th November 2017 Australia’s Winmar Resources has slashed its staff salaries and directors fees by half to minimise cash outflows until it has secured a new lead project. The announcement on Tuesday comes a day after the company said that it had withdrawn from the Lomero joint venture project with Kimberly... 

De Beers reports uptick in demand ahead of Christmas

By: Creamer Media Reporter      14th November 2017 An uptick in demand for diamonds ahead of Christmas has contributed to De Beers reporting sales of $455-million for its ninth sales cycle of the year, compared with sales of $376-million in the eighth sales cycle. This was, however, lower than the sales of $476-million achieved in the ninth sales... 

Mountain Province reports Q3 net income of C$27.7m

By: Henry Lazenby     14th November 2017 Mountain Province Diamonds has reported a third-quarter net profit of C$27.7-million, or C$0.17 a share, representing a profit during the first full operating quarter of its 49%-owned Gahcho Kué (GK) mine, in Canada’s Northwest Territories, since declaring commercial production on March 1.... 

Lucapa recovers eighth diamond larger than 100 ct from Angola

By: Anine Kilian     13th November 2017 ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes, better know as Endiama, and Rosas & Petalas have recovered a high-value 129.58 ct diamond from the Lulo project, in Angola.   The diamond was recovered from alluvial mining block six along with another large... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Political tension slows mining activity in Tanzania

By: Victor Moolman     10th November 2017 Despite the fact that political tension in Tanzania has impacted the mining industry, with several operations subsequently closing, SEW-EURODRIVE continues to have a strong presence in the country, with Tanzania as its main hub for East Africa. SEW-EURODRIVE South Africa national sales manager... 

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