R/€ = 16.42 Change: -0.01
R/$ = 13.88 Change: 0.10
Au 1289.80 $/oz Change: -1.16
Pt 935.00 $/oz Change: -4.00


Wealth gap leaves Ivorians craving share of 'economic miracle'

By: Bloomberg     20th April 2017 Standing knee-deep in muddy water to sift gravel in oppressive heat, a handful of middle-aged miners search for diamonds, clinging to what seems like a dying trade in a region with few job opportunities. “It’s unpredictable,” Pierre Silue, a 46-year-old miner wearing ragged clothes, said as he... 

Rockwell files for business rescue; will retain company operations in the interim

By: Mia Breytenbach     18th April 2017 Dual-listed alluvial diamond miner Rockwell Diamonds has filed for business rescue, which will ensure any liquidation order is automatically stayed. This follows after a judge in Kimberley on March 23 issued an interim liquidation order against subsidiaries Rockwell Resources RSA, HC van Wyk... 

Gem Diamonds appoints new chairperson

By: Mia Breytenbach     18th April 2017 Aim-listed Gem Diamonds has appointed Harry Kenyon-Slaney as its chairperson and an independent nonexecutive director, effective after June 6, succeeding Roger Davis, who will be stepping down. "I am delighted to be handing the chairmanship on to Kenyon-Slaney whose experience, knowledge and... 

Rare resources discovered in Queensland

By: Esmarie Swanepoel     18th April 2017 Queensland could likely play host to a number of rare minerals, as geologists have unearthed evidence suggesting the presence of platinum and gold as well as rare earth elements (REE). “This may be a whole new frontier for Queensland,” Natural Resources and Mines Minister Dr Anthony Lynham said... 

Dominion Diamond's sales slump 21% in FY17

By: Henry Lazenby     14th April 2017 Canada’s largest diamond producer Dominion Diamond Corp has reported a 21% decrease in diamond sales for the 2017 financial year ended January, as a fire at its flagship Ekati mine, in the Northwest Territories, and lower-value output weighed on the bottom line. The Yellowknife-based producer,... 

Guinea stable, predictable investment destination – Ministry

By: Johane Turkstra     14th April 2017 Guinea is suitable for mining investment, says the Guinea Ministry of Mines and Geology, which will host Symposium Mines Guinea 2017 in Conakry, the country's capital, next month, in partnership with emerging markets-focused business-to-business event organiser AME Trade. The Ministry says the... 

Economics of proposed agreement ‘very attractive’

     14th April 2017 If finalised, a tribute agreement between West Africa-focused diamond development company Stellar Diamonds and diamond mining company Octea Mining will see Stellar simultaneously mine both its wholly-owned Tongo project and the adjacent Tonguma project, in eastern Sierra Leone, with the company... 

Lesotho diamond mine poised to start commercial production in June

By: Mia Breytenbach     14th April 2017 Aim-listed diamond development company Firestone Diamonds expects its Liqhobong diamond mine, in Lesotho, to reach commercial production at the end of June. Commissioning of the mine started in October 2016, with mine construction completed on time and within the $185.4-million budget. In a... 

BlueRock improves diamond recovery since upgrades

By: Megan van Wyngaardt     13th April 2017 Aim-listed BlueRock Diamonds on Thursday reported that since it restarted operations at its Kareevlei mine, recovered grade has been improving from an initial 1.53 carats per hundred tonnes (cpht) to the most recent results of 3.02 cpht. The company late last year embarked on a thorough overhaul... 

Alrosa lifts March diamond sales 1% y/y

By: Henry Lazenby     11th April 2017 The global leader in rough diamond production, Russia’s Alrosa, has increased total diamond sales for March by 1% year-on-year to $566.6-million, as stable demand in most rough diamond categories buoyed prices. Rough diamond sales by Alrosa in March amounted to $554.2-million, with polished... 

Despite ramp-up delay, Diamcor reports improved tender results

By: Henry Lazenby     11th April 2017 South Africa-focused project developer Diamcor Mining has reported improved diamond tender sales despite the ramp-up to double output at the Krone-Endora at Venetia mine being dogged by operational and product delivery issues. The issues have pushed finalisation of the testing, commissioning and... 

Gem recovers 114 ct diamond

By: Megan van Wyngaardt     7th April 2017 Gem Diamonds has recovered a 114 ct, D colour type II diamond of exceptional quality from its Letšeng mine, in Lesotho. The Letšeng mine is known for producing large, top colour, exceptional white diamonds, making it the highest dollar-per-carat kimberlite diamond mine in the world. 

Tango Mining recovers nearly 308 ct of diamonds in March period

By: Natasha Odendaal     6th April 2017 TSX-V-listed Tango Mining has recovered 183 diamonds, equating to 307.94 ct, from its Oena diamond mine, in the Northern Cape, during the month to March 20. The Canadian diversified junior mining company sold the diamonds at an average price of $875/ct. 

Petra announces pricing of notes issue

By: Anine Kilian     6th April 2017 Aim-listed Petra Diamonds on Thursday announced the pricing of its offering of senior secured second lien notes, due 2022, at $650-million. Interest on the notes will accrue at a rate of 7.25% a year, payable semi-yearly in arrears. 

Botswana Diamonds completes Phase 1 drilling at Vutomi

By: Megan van Wyngaardt     6th April 2017 Botswana Diamonds has completed the first phase of drilling at its flagship Vutomi project, in Frischgewaagt, in South Africa, where 34 percussion and nine diamond drill holes were drilled on the kimberlite dyke. The Aim-listed company on Thursday said samples have been submitted for microdiamond... 

Firestone Diamonds recovers 110 ct yellow diamond from Liqhobong

By: Natasha Odendaal     5th April 2017 Aim-listed Firestone Diamonds has recovered a 110 ct gem-quality light yellow diamond – its largest diamond recovered to date – from the Liqhobong mine, in Lesotho. The discovery was made during the mine’s ongoing ramp-up. 

Trading in Rockwell stocks halted pending outcome of liquidation hearing

By: Henry Lazenby     4th April 2017 Beleaguered alluvial diamond miner Rockwell Diamonds announced on Tuesday that it has applied to the JSE to voluntarily halt trading in its equity after the TSX suspended trading in its stock, pending a delisting review. The TSX has advised Rockwell that it will only consider the delisting review... 

Sotheby's sells record $71m diamond to Chow Tai Fook 

By: Bloomberg     4th April 2017 Hong Kong-based jewelry retailer Chow Tai Fook bought a 59.6 ct pink diamond for about $71-million, setting the world record for the top auction price for any gem. The stone has an unusual distinction: it has attracted even higher bids in the past. The jeweler made the HK$553-million winning bid... 

Argyle mine, Australia

By: Sheila Barradas     31st March 2017 A diamond mine located in the remote East Kimberley region of Western Australia. 

Angola aims to attract major mining investor, develop local ones

By: Keith Campbell     31st March 2017 The copper/cobalt belt, known as the Central African Copperbelt, already well-known and exploited in Zambia and the Democratic Republic of Congo, also extends into Angola. This has been determined by surveying activities carried out under Angola’s National Geology Plan (known by the Portuguese... 

A perspective on the colonialism debate 

By: Jade Davenport     31st March 2017 Western Cape Premier Helen Zille's recent tweets espousing the opinion that the legacy of colonialism was not only negative has sparked significant outrage and debate amongst South Africans of all ages and races. Now, that is a kind of debate that most sensible people would not touch with a barge... 

Petra Diamonds issues $600m in notes

By: Megan van Wyngaardt     30th March 2017 To refinance its existing $300-million, 8.25% senior secured second lien notes, Petra Diamonds launched a $600-million notes issue on Thursday. Proceeds will also be used to repay all drawn bank facilities and for general corporate purposes. 

Firestone narrows H1 loss, says Liqhobong on track for commercial production in June

By: Mia Breytenbach     28th March 2017 Aim-listed Firestone Diamonds, which on Tuesday posted a $4.1-million loss before tax for the six months to December 31, expects its Liqhobong diamond mine, in Lesotho, to reach commercial production at the end of June. Commissioning of the mine started in October 2016, with the mine construction... 

Diamond industry’s famous hungry crocodile doesn't cut it

By: Bloomberg     28th March 2017 The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and... 

Botswana Diamonds continues to progress exploration programmes

By: Anine Kilian     27th March 2017 Aim-listed Botswana Diamonds has completed a drilling programme on PL 186, on the Maibwe ground, in the Kalahari Desert, it said in a statement of Monday. “We identified the locations of the previously drilled holes where significant quantities of diamonds were discovered. We drilled three... 

Lucapa announces maiden Mothae resource estimate

By: Henry Lazenby     25th March 2017 ASX-listed Lucapa Diamonds has published a maiden Joint Ore Reserves Committee-compliant resource estimate for the Mothae kimberlite pipe, in Lesotho. The Mothae project is located about 5 km from Gem Diamonds’ Letšeng mine. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries

By: Henry Lazenby     25th March 2017 A judge in Kimberley, South Africa, has issued an interim liquidation order against three subsidiaries of TSX- and JSE-listed Rockwell Diamonds. The interim court order does not affect Rockwell Diamonds, the parent entity. 

Simplified processes, suitable technologies key to success – diamond miners told

By: Ilan Solomons     24th March 2017 Historically diamond plants were designed on the basis of process engineering excellence. However, this focused excessively on ensuring maximum diamond liberation and recovery, rather than on the defining of the optimal mix of technical and financial solutions. This is according to project... 

Diavik mine, Canada

By: Sheila Barradas     24th March 2017 A diamond mine in Canada’s Northwest Territories. 

‘Barometer’ provides assessment of mineral resources industry transparency

By: Ilan Solomons     24th March 2017 Governments are challenged with creating new approaches to governance that enable them to better exploit the developmental potential provided by mineral resources. It is therefore imperative that countries establish regulatory frameworks and State capacity to ensure that mining activities are... 

Master Drilling boasts strong order book 

By: Megan van Wyngaardt     22nd March 2017 The launch of new projects in the Democratic Republic of Congo, Sierra Leone and Tanzania, paired with increased investment in human resources, has resulted in a 12.1% drop in JSE-listed Master Drilling’s gross profit to $23.5-million for the 2016 financial year. However, the company noted that... 

Dominion Diamond shares rise on improved 2018 sales forecast

By: Henry Lazenby     17th March 2017 The TSX-listed stock of Canada’s largest diamond producer Dominion Diamond Corp on Friday gained 12.33% to C$13.21, after the company announced late on Thursday that it expects fiscal 2018 sales to be between $875-million and $975-million, an increase of 62% over fiscal 2017 sales. The... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Australian miners issue encouraging reports from their African operations

By: Keith Campbell     17th March 2017 Australian junior mining companies active in Lusophone Africa have reported good news from both Angola and Mozambique. The companies concerned are the Lucapa Diamond Company, operating in Angola, and Mustang Resources, active in Mozambique. Lucapa has announced that total diamond sales to date... 

Anglo's future thrown in question as billionaire grabs stake

By: Bloomberg     16th March 2017 In its 100-year history, Anglo American Plc has endured commodities booms and busts, South African apartheid and bitter boardroom disputes. Now the British mining giant is threatened by the ambitions of Anil Agarwal, an Indian scrap-metal trader turned billionaire mining tycoon. In a surprise... 

BlueRock achieves 24-hour production target

By: Natasha Odendaal     15th March 2017 Aim-listed BlueRock Diamonds now has the capacity to produce sufficient material to supply the processing plant at the Kareevlei mine, in the Northern Cape, after commissioning the new crushing and screening circuit. The diamond mining company said the operations, tested under full load and... 

Optimism on minerals seen seeping down to grassroots explorers

By: Henry Lazenby     15th March 2017 Noting the optimism exhibited at the recent Prospectors and Developers Association of Canada (PDAC) international convention, held in Toronto, project generator Transition Metals says the fundamental shift in confidence it saw over the past year is consistent with this. “If you look at the... 

Symposium Mines Guinea

     14th March 2017 Now in its 5th edition, Symposium Mines Guinea organised by the Ministry of Mines and Geology, in partnership with AME Trade Ltd, is firmly established as the largest mining event in West Africa and will take place from 9 – 11 May 2017, in Conakry, Republic of Guinea. 

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