R/€ = 19.4609 Change: 0.0323
R/$ = 17.8576 Change: 0.0574
Au 1978.80 $/oz Change: -1.65
Pt 983.23 $/oz Change: 14.64

Diamonds News

Diamond miner releases underground expansion update

By: Halima Frost     Updated 7 hours ago Diamond exploration and mining company Lucara Diamond in February released its results for the year and quarter ended December 31, 2022, in which it updated stakeholders on the progress of the shaft sinking expansion project for its Karowe mine near Letlhakane, in Botswana. During 2022,... 

Rare pink diamond goes to auction for more than $35m

By: Bloomberg     30th March 2023 An extremely rare diamond called The Eternal Pink is expected to fetch more than $35-million at a Sotheby’s auction, potentially breaking records as the most expensive price per carat ever to come to market. The 10.57 ct diamond will go on show in Hong Kong next week and later will be exhibited... 

A truck at the Damtshaa openpit mine in Botswana

Mining needs truth-and-reconciliation approach to ESG, says Rifle-Shot’s Naidoo  

By: Martin Creamer     29th March 2023 Mining companies need to approach environmental, social and governance (ESG) principles on a truth and reconciliation footing and be honest about where they are on a scale of one to 10, says Rifle-Shot Performance business development director Dilley Naidoo. Naidoo, who spoke to Mining Weekly on... 

Rifle-Shot Performance Business Development Director Dilley Naidoo.
Rifle-Shot’s Dilley Naidoo interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Flagship Thorny River project to start operating later this year

By: Marleny Arnoldi     29th March 2023 After having experienced teething issues, plant delivery delays and adverse weather, Aim-listed Botswana Diamonds (BOD) has finally started producing diamonds from the Marsfontein project, in South Africa. The company has been focused on bringing two operations – Marsfontein and Thorny River –... 

Platinum group metals can add million South African jobs plus R8-trillion to economy  

By: Martin Creamer     28th March 2023 Collaborative marketing of platinum group metals (PGMs) has the potential to add a million more South African jobs and contribute R8-trillion more to the economy as the world greens and lowers carbon intensity. The combination of green hydrogen displacing natural gas and fuel cell electric... 

Platinum group metals can boost South African jobs and economic growth.
PGM Industry Day covered by Mining Weekly’s Martin Creamer. Video editing: Darlene Creamer.

Botswana to take stake in HB, challenging De Beers' dominance

By: Bloomberg     27th March 2023 Botswana will take a 24% stake in Belgian diamond trader HB Antwerp in a challenge to a decades old arrangement with De Beers, the world’s biggest diamond company. The country’s state gem trader will also supply HB with the precious stones for five years, President Mokgweetsi Masisi said at an... 

Belgium diamantaire establishes presence in OR Tambo SEZ

By: Donna Slater     23rd March 2023 Belgium-based diamond jeweller Pluczenik has chosen to establish a local division – Pluczenik South Africa – at the OR Tambo Special Economic Zone (SEZ), in Ekurhuleni, Gauteng. To commemorate South Africa and Belgium’s readiness to enhance political and economic relations, the OR Tambo SEZ – as... 

Safety environment that almost guarantees that people come first is a must, says Naidoo  

By: Martin Creamer     20th March 2023 Mine safety is absolutely essential. Stopping injury and fatality in mines just has to happen. How can South Africa achieve the zero harm that is needed? This was Mining Weekly’s opening question to Dilley Naidoo, the director of business development at Rifle-Shot Performance. (Also watch... 

Mining is striving for zero harm.
Rifle-Shot Performance's Dilley Naidoo interviewed by Mining Weekly's Martin Creamer. Video and Video Editing: Darlene Creamer.

Burgundy abandons Ellendale plans

By: Esmarie Iannucci     20th March 2023 ASX-listed Burgundy Diamond Mines has abandoned its plans to acquire the Ellendale and Blina diamond projects, in Western Australia, from fellow listed Gibb River Diamonds. Burgundy in 2021 struck a two-year option agreement with Gibb River Diamonds to earn full ownership of the project for... 

Gem delivers solid financial, operational performance despite challenges

By: Tasneem Bulbulia     16th March 2023 London-listed Gem Diamonds delivered a solid financial performance for the financial year ended December 31, despite the volatile global economic environment following Russia’s invasion of Ukraine, which resulted in high levels of inflation and interest rates and significantly higher diesel... 

Petra’s latest tender cycle seen as confirming improving diamond price trend 

By: Martin Creamer     15th March 2023 Diamond mining and marketing company Petra has sold $72.1-million worth of rough diamonds in its fourth tender cycle, which is 12.5% up on the third tender's like-for-like prices and which is viewed as confirming an improving diamond price trend. Petra CEO Richard Duffy ascribed the positive... 

Petra Diamonds CEO Richard Duffy.
Photo by Creamer Media
Petra Diamonds CEO Richard Duffy.

Mining output declined for a twelfth consecutive month in January

By: Creamer Media Reporter      14th March 2023 Mining production experienced its twelfth consecutive month of year-on-year decline in January, recording a decrease of 1.9%, Statistics South Africa reports. The largest negative contributors were platinum group metals (PGMs), with output 15.2% lower year-on-year and contributing -3.5 percentage... 

Rough diamonds mined in South Africa

Burgundy strikes gem of a deal in Canada

By: Esmarie Iannucci     14th March 2023 ASX-listed Burgundy Diamonds has struck a $136-million deal to acquire the Ekati diamond mine, in Canada’s Northwest Territories. Burgundy on Tuesday announced that it had entered into an agreement with Artic Canadian Holdings to acquire all of the common shares of the company, as well as all of... 

The Ekati diamond mine in Canada's Northwest Territories.
The Ekati diamond mine in Canada's Northwest Territories.

Re-pursue exploration to help re-build South Africa’s economy, says business booster   

By: Martin Creamer     13th March 2023 Let us re-pursue the exploration investment that catalysed South Africa’s economic growth more than a century ago as a means of helping to rebuild South Africa’s struggling economy. That is among the ardent messages put over by mining sector performance enhancer Dilley Naidoo, the the director of... 

Dilley Naidoo, Director of Business Development, Rifle-Shot Performance.
Rifle-Shot Performance's Dilley Naidoo interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Diamcor recovers 45.15 ct diamond as it continues to progress power solutions

By: Tasneem Bulbulia     13th March 2023 Junior diamond mining company Diamcor Mining has recovered a 45.15 ct gem-quality rough diamond from the processing of quarry material at its Krone-Endora at Venetia project in South Africa. This large rough diamond in the Specials category (weighing more than 10.8 ct) follows the previously... 

Botswana intent on selling more diamonds without De Beers

By: Reuters     10th March 2023 Botswana will not drop its demand to sell a bigger share of the diamonds produced by its joint venture with De Beers, President Mokgweetsi Masisi said on Thursday, raising the stakes in talks to renew a sales deal that expires in June. Botswana and De Beers mine diamonds under an equally-owned... 

Botswana President Mokgweetsi Masisi
Botswana President Mokgweetsi Masisi

DMCC hosts world’s first lab-grown diamonds symposium

By: Marleny Arnoldi     9th March 2023 The United Arab Emirates’ (UAE’s) largest free-trade zone, Dubai Multi Commodities Centre (DMCC), has announced it will host an inaugural Lab-Grown Diamond Symposium, in Dubai, on July 10. The symposium is a world-first opportunity to discuss this nascent, technology-driven industry’s unique... 

De Beers sells $495m of rough diamonds in second sales cycle of 2023

By: Donna Slater     8th March 2023 Anglo American's diamond mining business De Beers provisionally sold $495-million worth of rough diamonds through its global sightholder sales and auctions in its second sales cycle of 2023 – from February 20 to March 7. Although the latest figure remains subject to adjustment based on final... 

De Beers CEO Al Cook
De Beers CEO Al Cook

Infrastructure backlog, waning service delivery driving people to cities – TIPS

By: Schalk Burger     6th March 2023 There is a massive infrastructure backlog in historic labour-sending regions, or former homelands, and the share of households with piped water inside the house has declined in the Free State, North West, Mpumalanga and Limpopo since 1994, reflecting waning service delivery in these provinces.... 

Sandvik, Rajant complete autonomous mine communications validation, testing at Venetia

By: Schalk Burger     3rd March 2023 Mining engineering multinational Sandvik and US-based wireless mesh networks company Rajant Corporation collaborated on digital mining tests to ensure wireless communications can be used with tele-remote and autonomous vehicles destined for diamond mining multinational De Beers' Venetia diamond... 

Rajant's network nodes, or BreadCrumbs, communicate with all other radios on a mine site, to create a high-capacity, dense mesh network of connected assets.
Photo by Rajant Corporation
Rajant's network nodes, or BreadCrumbs, communicate with all other radios on a mine site, to create a high-capacity, dense mesh network of connected assets.

Marsfontein to start producing diamonds this month

By: Darren Parker     2nd March 2023 London-listed Botswana Diamonds has announced that first recoveries of diamonds are expected this month at the alluvial and dump mine at Marsfontein, in Limpopo, operated by subsidiary Vutomi. Site establishment began during the course of the last week of January. 

Botswana mining growth seen flat amid dim diamond outlook

By: Reuters     1st March 2023  Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday. Overall mining output in 2022 rose by 8.2%. But this... 

Alexkor audit delayed as high staff turnover leaves finance dept unstable, AG tells Parliament

By: News24Wire      1st March 2023 High staff turnover at state-owned mining company Alexkor – notably in the finance division – has created instability in key operations, including financial reporting, the Auditor-General of SA (AGSA) told Parliament's Standing Committee on Public Accounts (Scopa) on Tuesday.  Alexkor's core... 

Rough diamonds

Resources Watch  

1st March 2023 This week: De Beers delivers excellent set of 2022 results; Anglo has 600 MW keyed up ready to go, green hydrogen also developing rapidly; And, do everything to fight inflation, says AngloGold, which is growing fastest in US  

Resources Watch
Resources Watch

BlueRock subsidiary Kareevlei enters into voluntary business rescue

By: Marleny Arnoldi     28th February 2023 The board of Aim-listed BlueRock Diamonds’ principal operating subsidiary, Kareevlei Mining, has resolved to place the company into voluntary business rescue owing to excessive indebtedness. BlueRock had already requested on February 24 that its shares be suspended from trading on the Aim,... 

Higher commodity prices failing to spur fixed mining investment  

By: Martin Creamer     28th February 2023 The regulatory uncertainties and inability of the industry to transparently, quickly and efficiently apply for mining and prospecting rights in a corruption-free manner has had severe investment consequences, Minerals Council South Africa states in its Facts & Figures Pocketbook 2022. This is... 

South African mining remained a trillion rand industry for the second year in 2022.
South African mining remained a trillion rand industry for the second year in 2022.

Lucapa posts record revenues

By: Esmarie Iannucci     28th February 2023 Diamond miner Lucapa Diamond Company has reported record revenues for the full year ended December, on the back of a record operational performance at its Lulo alluvial mine, in Angola. Attributable revenue for the full year ended December reached A$69.1-million, with attributable earnings... 

Quest for world’s biggest diamonds gives De Beers a headache

By: Bloomberg     28th February 2023 To the southeast of the teeming herds of wildlife in the Okavango Delta in Botswana, an offshoot of the Lundin mining dynasty is extending its search for the world’s biggest diamonds. Lucara Diamond Corp is sinking an 800 m shaft to ensure the kimberlite orebodies at its Karowe mine keep... 

Lucara is sinking an 800 m shaft at its Karowe mine in Botswana
Photo by Bloomberg
Lucara is sinking an 800 m shaft at its Karowe mine in Botswana

Trackless mobile machine safety next big challenge, says Minerals Council  

By: Martin Creamer     27th February 2023 Having last year achieved the lowest fall of ground fatalities ever, South African mining’s next big safety challenge is to achieve greater safety in the use of trackless mobile machines – rubber-tired vehicles that operate in underground mines without making use of rail tracks. In 2021, South... 

From left to right, Nikisi Lesufi, Japie Fullard, Roger Baxter and Allan Seccombe.
From left to right, Nikisi Lesufi, Japie Fullard, Roger Baxter and Allan Seccombe.

World warming at rate well above what Paris Agreement requires, Anglo CEO warns 

By: Martin Creamer     24th February 2023 The world is on a trajectory to reach 2.7°C of warming above pre-industrial levels, which is quite a long way mathematically from the 1.5°C that is required by the Paris Agreement. This was pointed out by Anglo American CEO Duncan Wanblad, quoting independent sources such as Climate Action Tracker. 

Anglo American CEO Duncan Wanblad.
Photo by Creamer Media
Anglo American CEO Duncan Wanblad.

Rio extends mine life at Diavik

By: Esmarie Iannucci     24th February 2023 Diversified miner Rio Tinto has extended the mine-life at its Diavik diamond mine, in the Northwest Territories of Canada, announcing a $40-million investment in the first phase of underground mining below the existing A21 openpit. “Rio Tinto’s decision to support the underground development of... 

Image shows aerial view of the Diavik mine

De Beers delivers excellent set of 2022 results  

By: Martin Creamer     23rd February 2023 Diamond company De Beers last year delivered a revenue of $6.6-billion and earnings before interest tax depreciation and amortisation (Ebitda) of $1.4-billion built on operational excellence across its producing assets. Rough diamond production increased by 7% to 34.6-million carats, reflecting... 

De Beers Group CFO Sarah Kuijlaars.
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Anglo has 600 MW keyed up ready to go, green hydrogen also developing rapidly, says Wanblad  

By: Martin Creamer     23rd February 2023 All policy in South Africa specifically relating to energy certainly does tend to be moving into a path of time and space where it really is incentivising the building out of renewable energy generation capacity in the country, said Anglo American CEO Duncan Wanblad on Thursday when the London-... 

Anglo American CEO Duncan Wanblad.
Anglo American results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Lucapa recovers 150ct diamond in Angola  

By: Esmarie Iannucci     23rd February 2023 A 150 ct white diamond has been recovered from ASX-listed Lucapa Diamond’s Lulo alluvial mine, in Angola. The company on Thursday said that the stone was the fifth of more than 100 ct recovered from Mining Block 28, and was the thirty-sixth stone of more than 100 ct to be recovered at Lulo. 

Minerals Council welcomes 125% energy tax break in Budget speech

By: Martin Creamer     22nd February 2023 Minerals Council South Africa welcomed the government’s intervention on Eskom’s debt and the financial encouragement to stimulate businesses building renewable energy projects by offering generous tax incentives as outlined in the 2023 Budget Speech. The Minerals Council believes there should be... 

Lucara to refresh Karowe underground expansion schedule and budget

By: Mariaan Webb     22nd February 2023 Work on the underground expansion project (UGP) at the Karowe diamond mine, in Botswana, has made significant strides in the last year, achieving a number of important milestones. All pre-sinking activities have been completed on schedule and budget, a main shaft sinking contract has been... 

Diamcor recovers 72ct diamond at Krone-Endora

By: Creamer Media Reporter      21st February 2023 TSX-V-listed Diamcor Mining has recovered a 72.53 ct gem-quality diamond at its Krone-Endora at Venetia mine, in South Africa's Limpopo province. The diamond is being offered for tender and sale in Dubai and is expected to offset the lower-than-expected total of carats sold by Diamcor in the... 

Petra mulls full-year dividend despite $17.6m interim net loss

By: Marleny Arnoldi     21st February 2023 London-listed Petra Diamonds says the actions it has taken to strengthen the business and improve cashflow generation, together with capital discipline, places the company in good stead for the remainder of the current financial year and for the following years, despite the company posting an... 

Petra's Cullinan mine
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