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Diamonds News
Russian, Angolan diamond groups sign MoU
By: Rebecca Campbell 19th April 2019 Russia’s predominantly State-owned global diamond mining major Alrosa and Angola’s State-owned national diamond mining company Endiama signed a Memorandum of Understanding (MoU) early this month. This marks the latest stage in the development of the relationship between the two entities, which... →
Investor sentiment contradicting diamond market fundamentals
By: Nadine James 19th April 2019 Lukewarm investor sentiment for natural diamonds seems to contradict the stable demand and favourable supply forecasts for natural diamonds, US-based diamond analyst Paul Zimnisky notes in a statement released last week. He recalls that during the State-owned Russian diamond company Alrosa’s... →
Petra recovers 209.9 ct diamond at Cullinan
By: Creamer Media Reporter 18th April 2019 Petra Diamonds on Friday recovered a 209.9 ct D-colour Type II gem-quality diamond at its Cullinan diamond mine, in South Africa. This is the third Type II D-colour gem-quality diamond weighing more than 100 ct recovered since March and the fourth such diamond recovered in the current financial... →
Stornoway names new CFO
By: Creamer Media Reporter 18th April 2019 TSX-listed Stornoway Diamond Corporation has a new CFO. Dino Rambidis, who Stornoway describes as a seasoned leader with extensive financial experience, has replaced Orin Baranowsky with immediate effect. →
Eager black investors fund premium-priced opportunity in zinc, copper 
By: Martin Creamer 17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... →
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.
ODC unveils ‘iconic’ Okavango Blue diamond
By: Simone Liedtke 17th April 2019 Botswana-based Okavango Diamond Company on Wednesday unveiled “the biggest blue diamond discovery ever made” in Botswana – an oval-shaped blue diamond weighing in at over 20 ct. The Gemological Institute of America has graded the stone as an oval brilliant cut of 20.46 ct, with a fancy deep blue... →
Orion clinches potent new-style empowerment deal 
By: Martin Creamer 16th April 2019 Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution. “What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told... →
Petra Diamonds' new CEO to work on strategy, seeks stability first
By: Reuters 15th April 2019 African miner Petra Diamonds, which has high debt levels, aims to be cash flow positive in the second half of the year and will then be able to consider future developments, its new chief executive said on Monday. The company's share price has fallen 55% since the start of the year as weak... →
Petra CEO Richard Duffy
Tiffany training Africans to cut diamonds sourced from the region
By: Bloomberg 15th April 2019 Tiffany & Co has been expanding its workforce in sub-Saharan Africa – a region of almost one billion people where the jewellery giant does not have a single store. More than a quarter of the New York-based company’s 1 500 global diamond cutters and polishers are now based in Africa, CEO... →
Vast raises £600 000 for Romania, Zim projects
By: Marleny Arnoldi 12th April 2019 Aim-listed diversified miner Vast Resources has raised £600 000 through a placement and subscription of around 440-million shares at a price of 0.135p apiece. The placing was for 407-million ordinary shares, and the subscription was for 37-million shares, of which 29-million and 7.4-million... →
New ways of determining workers’ fitness for work urged amid changing laws and attitudes towards cannabis
By: Nadine James 12th April 2019 Changing societal perceptions, combined with more and more countries legalising cannabis use, means that companies should adapt traditional methods of determining whether employees are fit for duty, says Predictive Safety director of fatigue education Dr Doug Potter. →
Graff shapes world’s largest square emerald cut diamond
By: Marleny Arnoldi 11th April 2019 Multinational jeweller Graff has cut the largest square emerald cut diamond in the world, which ranks as the largest high-colour, highest clarity diamond ever graded by the Gemological Institute of America. Dubbed the Graff Lesedi La Rona, the diamond weighs in at 302.37 ct, and is a top... →
Zimbabwe pursuing favourable policies to attract more mining investment
By: Tasneem Bulbulia 10th April 2019 To pursue meaningful and increased exploration, fully capitalise on economic benefits and increase investment in the mining sector, the Zimbabwean government has embarked on a number of policies to engender a favourable environment for investors. Deputy Mines and Mining Development Minister... →
Stornoway suspends openpit mining at Renard
By: Mariaan Webb 9th April 2019 Quebec miner Stornoway Diamonds on Tuesday announced that it would suspend openpit mining operations at Renard 65, but the move is not expected to impact on its revenue for this year. The company, which transitioned the Renard mine to primarily underground operations in August last year,... →
De Beers lifts diamond sales amid stable demand
By: Creamer Media Reporter 9th April 2019 Diamond miner De Beers sold $575-million of diamonds in its third sales cycle of this year. This was higher than the $496-million of sales recorded in the second sales cycle of this year, as well as the $524-million of sales recorded in the third sales cycle of 2018. “As we move into the second... →
Firestone Diamonds recovers 72 ct diamond at Liqhobong
By: Tasneem Bulbulia 8th April 2019 LSE-listed Firestone Diamonds has recovered a 72 ct yellow diamond from its Liqhobong mine, in Lesotho. The diamond was recovered together with a 22 ct white diamond and an 11 ct fancy light pink diamond. →
Macau intends to join Kimberley Process for trading rough diamonds
By: Rebecca Campbell 5th April 2019 The Executive Council of Macau has developed a proposal for legislation which, if approved by the territory’s Legislative Assembly, would see Macau joining the Kimberley Process Certification System. This was stated in an official communiqué, the Macauhub News Agency has reported. →
Anglo taking tailings dam monitoring to next level
By: Martin Creamer 4th April 2019 Diversified mining company Anglo American is implementing new techniques that give the company far more control over tailings dams, which have been thrown into the spotlight after the tragic loss of life at Brumadinho, in Brazil, where an iron-ore tailings dam collapsed at Vale’s Corrego do... →
How Anglo American is reducing tailings dam risk
Expanding KP’s scope will help create economic potential, says WDC executive director
By: Simone Liedtke 4th April 2019 Expanding the scope of the Kimberley Process to include issues related to human rights and labour relations, as is being advocated by the World Diamond Council (WDC), will help create conditions in which Sub-Saharan Africa's artisanal diamond miners can meet their economic potential, and so... →
Botswana Diamonds completes Thorny River drilling programme
By: Simone Liedtke 4th April 2019 Aim-listed Botswana Diamonds has completed the intensification drilling programme on the Frischgewaagt and Hartbeesfontein farms, which form part of its Thorny River diamond dyke project, in South Africa. The intensification drilling programme comprised 33 holes and 1 282 m of drilling which,... →
Canada's diamond miners are on their knees because size matters
By: Bloomberg 4th April 2019 The story of how two prospectors, down to their last nickels, discovered diamonds in Canada’s frozen north is the stuff of legend. Back in 1982, Chuck Fipke and Stewart Blusson laid low in a pup tent by day while their competitor De Beers hauled 45-gallon drums of rock samples to a nearby... →
Anglo hopes to run truck on hydrogen in 12 months – O’Neill
By: Martin Creamer 3rd April 2019 Diversified mining company Anglo American hopes to have a truck running on hydrogen in the next 12 months, Anglo American technical director Tony O’Neill said on Wednesday, when he spoke of foreseeing the company’s installed diesel fleet one day being replaced by an electrical alternative. To... →
Graphic showing how sun can provide electricity to produce hydrogen that powers mine fleets.
Jewellers must say whether diamonds are mined or synthetic – US FTC
By: Reuters 3rd April 2019 The US Federal Trade Commission, which investigates allegations of deceptive advertising, said on Tuesday that it has sent warning letters to eight companies to insist that they distinguish in advertisements between diamonds that come from mines and those made in laboratories. The FTC said that... →
Diamond ETF gets closer as UK approves gem pricing benchmark
By: Bloomberg 2nd April 2019 The UK’s financial regulator added a small diamond pricing firm to its roster of companies managing market benchmarks, opening the way to making the precious stones a more investable asset. The Financial Conduct Authority has authorized U2 Diamond Prices as a benchmark administrator, joining... →
BlueRock reports 12% first-quarter production increase
By: Simone Liedtke 2nd April 2019 Aim-listed BlueRock Diamonds on Tuesday reported a 12% year-on-year increase in mined tonnage at its Kareevlei mine, in Kimberley, to 42 409 t for the first quarter of this year. This was achieved despite a temporary eight-day suspension in mining operations in February. →
Lucapa finds 55ct diamond at Mothae
By: Esmarie Iannucci 2nd April 2019 Africa-focused Lucapa Diamond Company has recovered its fifth diamond larger than 50 carats from the Mothae operation, in Lesotho, since commercial production started in January. The recovery of the top-colour 55 ct stone was recovered only shortly after the recovery of a 128 ct diamond from... →
Alrosa raises $11.8m in New York diamond sale
By: Reuters 1st April 2019 Russian State-controlled miner Alrosa, the world's biggest producer of rough diamonds in carat terms, raised $11.8-million in its first New York diamond auction of the year, as it seeks to increase its activity in the US. Rebecca Foerster, president of Alrosa, North America, said sanctions... →
Firestone puts Liqhobong Cut 3 expansion on ice
By: Marleny Arnoldi 29th March 2019 Aim-listed Firestone Diamonds has determined that the proposed Cut 3 life-of-mine expansion at its 75%-owned Liqhobong mine, in Lesotho, is not currently economically viable. The Cut 3 expansion project would have increased the life of the mine by three years and result in 40% more carats... →
Petra recovers 425 ct diamond at Cullinan
By: Creamer Media Reporter 29th March 2019 London-listed Petra Diamonds has recovered a 425.10 ct D-colour Type II gem-quality diamond at its Cullinan mine, in South Africa. "The recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody, as well as the ability of the mine's plant to recover the full... →
Quebec diamond miner ends 2018 in the red
By: Creamer Media Reporter 29th March 2019 The low price environment in which the Renard diamond mine began its operations two years ago is continuing to affect the company operating the Quebec-based mine, with Stornoway Diamonds ending 2018 in the red. The listed diamond miner on Thursday reported a net loss of C$329.4-million, or... →
Accommodation supplier expands Botswana footprint
By: Mc'Kyla Nortje 29th March 2019 Since establishing a footprint in Botswana in 1991 to cater to the site accommodation needs of mines, modular building supplier Speedspace Botswana has expanded its operations by opening a new satellite branch in Letlhakane, in northern Botswana. Operations at the new branch, which Speedspace... →
Under Mantashe, SA mining’s narrative changes from ‘completely negative’ to ‘something approaching positive’
By: Natasha Odendaal 29th March 2019 Stability, policy and regulatory certainty and rebuilding trust have been key themes in Mineral Resources Minister Gwede Mantashe’s first year in office. Taking the reins on February 27, 2018, of a government department overseeing one of the most difficult and fragmented industries in South... →
The great diamond shortage that never was is likely coming soon 
By: Bloomberg 27th March 2019 For more than 15 years, the diamond industry has been telling the world about a looming shortage of gems. Instead, demand has been stubbornly underwhelming, and the miners have done a wonderful job of digging more and more stones. But the pain may soon be over for an industry that’s being... →
Thorny River on track to become diamond producer by mid-2019
By: Simone Liedtke 25th March 2019 Aim-listed Botswana Diamonds has confirmed that its Thorny River diamond dyke project, in South Africa, remains on track to start bulk sampling and diamond production by the middle of this year. Bulk sampling is anticipated to start in May, assuming final permits are obtained in time, and will... →
A liquid recycled-diamond market could boost natural-diamond industry – analyst
By: Nadine James 22nd March 2019 Conventional wisdom says that increased diamond recycling results in downward price pressure owing to the theoretical increase in supply, diamond analyst Paul Zimnisky notes in a release published earlier this month. However, he suggests that the contrary may be true, and, “in fact, a more... →
BIG ENOUGH FOR BOTH The resale market is growing at about 3% to 5% a year or about 150 000 cts of rough equivalent a year, while the natural diamond production is projected at 143-million carats of rough in 2019
Quicker manufacturing of rope attachments provides competitive edge
By: Cameron Mackay 22nd March 2019 Mining equipment manufacturer and supplier Becker Mining South Africa’s short turnaround time for the manufacturing of rope attachments provides the company with a competitive edge to take on large projects in the local mining sector, Becker Mining SA capital senior GM Tom Searle tells Mining... →
Lucapa nearly doubles Lulo resource
By: Esmarie Iannucci 21st March 2019 Diamond miner Lucapa Diamond Company has reported a 90% increase in its diamond resource carats at its Lulo operation, in Angola, on the back of an independent valuation. The company on Thursday told shareholders that external consultants Z Star Mineral Resource Consultants has estimated that... →
Global Witness says more needs to be done to halt human rights abuses in diamond mining
By: Marleny Arnoldi 20th March 2019 International nonprofit organisation Global Witness (GW) has welcomed the World Diamond Council’s (WDC’s) response to the government-led Kimberley Process (KP) certification scheme, but says more needs to be done. The organisation pointed out in a release that the WDC had, in recent weeks,... →
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