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Diamonds News

Rio Tinto asks court to OK sale of partner's diamonds in Canada mine

By: Reuters     26th October 2020 Global miner Rio Tinto is seeking court approval to sell its partner's share of diamonds from a mine in Canada's Northwest Territories, a filing showed, hoping to recover around C$120-million plus legal fees and other costs. Rio owns 60% of Diavik Diamond Mines Inc (DDMI) and says it is owed... 

Diamond manufacturers have a chance to make profit – Rapaport

By: Mariaan Webb     23rd October 2020 The coronavirus pandemic, which hit the diamond industry hard in the first half of 2020, has presented an opportunity for squeezed diamond manufacturers to turn things around and start making profit. Squeezed by high rough diamond costs and declining polished prices, manufacturers and dealers... 

Diamond manufacturers have a chance to make profit – Rapaport

De Beers says rough diamond demand is ticking up

By: Marleny Arnoldi     22nd October 2020 Diamond miner De Beers' rough diamond production decreased by 4% year-on-year to 7.2-million carats in the third quarter of the year as a result of planned reductions in production to match lower demand for rough diamonds in the market, amid Covid-19. Specifically, production from the company’s... 

Covid has highlighted the value of operating remotely – mining editor 

By: Martin Creamer     22nd October 2020 The extraction of data from machinery to improve decision-making is a key benefit of the digital mine and has changed the way that mines manage their assets and perform machine maintenance, Australia Mining managing editor Ben Creagh said on Wednesday. Creagh was speaking during a virtual... 

Covid has highlighted the value of operating remotely – mining editor
ifm Australia’s Freddie Coertze and Aditya Kunder.

Petra to hold special tender to sell five blue diamonds

By: Marleny Arnoldi     21st October 2020 London-listed Petra Diamonds has launched a special tender process for its Letlapa Tala Collection, which comprises five blue diamonds of significant colour, clarity, size and heritage. The diamonds were recovered from the company’s Cullinan mine, in Gauteng.  

Petra to hold special tender to sell five blue diamonds
Petra Diamonds' Letlapa Tala Collection

Diamcor closes first tranche of C$3.5m convertible loan

By: Creamer Media Reporter      20th October 2020 TSX-V-listed Diamcor Mining has closed the first tranche of a C$3.5-million convertible loan financing. The initial tranche included subscriptions from five investors for aggregate gross proceeds of C$954 500.  

Botswana sees 7.7 % growth in 2021 on diamond industry recovery

By: Reuters     20th October 2020 Botswana's economy will rebound and grow 7.7% in 2021 from a 8.9% contraction forecast this year, on the back of improved sentiment in the global diamond industry, the finance minister said on Tuesday. Botswana's economy shrank by 24% in the second quarter of 2020 as coronavirus lockdowns at home... 

Petra's shares fall as it announces proposed restructuring 

By: Creamer Media Reporter      20th October 2020 The share price of London-listed Petra Diamonds fell by nearly 10% on Tuesday morning, as it announced that it had reached an in-principle agreement with its lenders with respect to a long-term solution for the recapitalisation of the group and that it was no longer planning to sell the company... 

Petra's shares fall as it announces proposed restructuring
Photo by Creamer Media
Petra CEO Richard Duffy

BlueRock sells 2 900 ct diamond parcel

By: Tasneem Bulbulia     19th October 2020 Aim-listed BlueRock Diamonds has sold 2 900 ct of diamonds recovered from its Kareevlei mine, in the Kimberley region of South Africa, at an average price of $300/ct for an aggregate consideration of $870 165.  “This is the third successful private sale conducted through an agent in South Africa... 

Russian diamond producer Alrosa's third-quarter output down 24%

By: Reuters     16th October 2020 Russian diamond producer Alrosa's third-quarter production fell 24% year on year but was up 62% from the previous quarter to 9.2-million carats, it said on Friday. Alrosa, the world's largest producer of rough diamonds, said coronavirus-hit demand started to recover in August but it added a... 

Prelim results bode well

16th October 2020 Aim- and Botswana Stock Exchange- (BSE-) listed diamond explorer Botswana Diamonds (BOD), last month announced the preliminary results of the next phase of its drilling campaign on the Marsfontein project.  “The objective of this limited exercise was to test an historical anomaly identified as... 

Mining committed to doing all it takes to improve worker health – Matlala 

By: Martin Creamer     15th October 2020 Minerals Council South Africa VP and Masoyise Health Programme chairperson Zanele Matlala on Thursday committed the South African mining industry to doing all it takes to ensure that employee lives are saved and health is improved. Speaking at a global virtual health seminar to reprioritise... 

Mining committed to doing all it takes to improve worker health – Matlala
Photo by Creamer Media
Minerals Council South Africa VP and Masoyise Health Programme chairperson Zanele Matlala

Lucapa considering Mothae expansion

By: Esmarie Iannucci     15th October 2020 Diamond miner Lucapa Diamond Company has reported a 280% increase in the indicated resource at its Mothae kimberlite diamond mine, in Lesotho. The project is now estimated to host a Joint Ore Reserves Committee- (Jorc-) compliant indicated resource of some 9.2-million tonnes, containing around... 

India says slump in diamond exports is much worse than 2008

By: Bloomberg     14th October 2020 Diamond exports from India are set to tumble by as much as a quarter this year as the pandemic crushes demand and breaks supply chains. Overseas sales of cut and polished diamonds may slump 20% to 25% in the year ending March from $18.66-billion last year, according to Colin Shah, chairman of... 

De Beers records $467m worth of rough diamond sales in eight sales cycle

By: Donna Slater     14th October 2020 Diversified miner Anglo American reports that its diamond mining subsidiary, the De Beers Group, recorded $467-million worth of provisional rough diamond sales, both through global sightholder sales and auctions, during the eight sales cycle of the year. CEO Bruce Cleaver says the company... 

De Beers records $467m worth of rough diamond sales in eight sales cycle

Record third quarter for diamond miner BlueRock

By: Donna Slater     13th October 2020 Aim-listed diamond junior BlueRock Diamonds has reported strong operational third-quarter results, setting records for three of its main performance indicators: production, carats produced and grade. Despite still using its old plant, the operator of the Kareevlei diamond mine near Kimberley, in... 

Alrosa sees diamond sales stabilising in fourth quarter

By: Reuters     12th October 2020 Russian State-controlled diamond producer Alrosa expects its fourth-quarter sales to stabilise year on year as demand for precious stones is recovering, its CEO, told a meeting with President Vladimir Putin on Monday. Alrosa, the world's largest producer of rough diamonds, has been hit by the... 

BOD prioritises four diamondiferous alluvial targets for drilling

By: Marleny Arnoldi     12th October 2020 Aim-listed Botswana Diamonds (BOD) has started with a precision ground geophysics programme to define potential kimberlite pipes on its Marsfontein and Thorny River prospects, in Botswana. The company is focusing on four high-potential targets to finalise early drilling. The four targets... 

De Beers invests further in growing diamond beneficiators

By: Marleny Arnoldi     9th October 2020 Diamond miner De Beers Group has welcomed five diamond polishing and jewellery manufacturing companies to its Enterprise Development Project for Diamond Beneficiators. This project, launched by De Beers in 2016, aims to facilitate the growth and transformation of diamond beneficiation in South... 

Processing plant progressing well amid slowdown

By: Halima Frost     9th October 2020 Despite Covid-19 having an adverse effect on the greenfield development of a mine and metallurgical plant, in Sierra Leone, local consulting firm METC Engineering director Dr Steve Cathey says the project is progressing well. He explains that construction on the Tongo diamond project – located in... 

Processing plant progressing well  amid slowdown
DIAMOND DECLINE The decline on the Tongo diamond project is progressing well as is the fabrication of the diamond processing plant

Freight forwarder growing reach in West Africa

By: Halima Frost     9th October 2020 Following the successful logistics for a mine in Sierra Leone, deugro, a highly-specialized expert in freight forwarding and an independent company of the deugro group,  intends to further expand its offering in West Africa. “We are excited and look forward to engaging with more clients in this... 

Freight forwarder growing reach in West Africa
IVAN DE SOUZA & SUNELL VAN DER WALT Senior members of deugro's sales and business development team unpack the company's sucess in west Africa

Mining majors must convince investors of need to replace value – Sir Mick Davis  

By: Martin Creamer     8th October 2020 Major mining companies need to convince investors of the crucial need to replace the value that they are taking out of the ground, mining luminary Sir Mick Davis said on Thursday. “Every single day that they take something out of the ground, that value disappears forever, and unless you do... 

Mining majors must convince investors of need to replace value – Sir Mick Davis
Mining Weekly’s Martin Creamer reports on Sir Mick Davis at Joburg Indaba. Video: Darlene Creamer

Lucapa restarts Mothae

By: Esmarie Iannucci     8th October 2020 Diamond miner Lucapa has restarted scaled operations at its Mothae kimberlite diamond mine, in Lesotho. The operation has been on care and maintenance since March this year, since lockdown and isolation measures were enforced by the South Africa government, to prevent the spread of Covid-19. 

Flow-through must form part of overall exploration strategy – Minerals Council  

By: Martin Creamer     7th October 2020 The introduction of a flow-through share scheme must form part of a full suite and package of measures tailored for a comprehensive exploration strategy for South Africa, Minerals Council South Africa CEO Roger Baxter said on Wednesday. Speaking during question time on day one of the Joburg... 

Flow-through must form part of overall exploration strategy – Minerals Council
Mining Weekly’s Martin Creamer putting a question at Joburg Indaba. Video: Darlene Creamer.

Petra, NUM conclude one-year wage deal 

By: Creamer Media Reporter      6th October 2020 Diamond miner Petra Diamonds reports that it has concluded a one-year wage agreement with the National Union of Mineworkers (NUM). This applies to its South African operations for the financial year to June 30, 2021. The Company will make a once-off, ex gratia payment at the end of November 2020... 

Regulations tailored to alluvial diamonds will reward S Africa with jobs – Sadpo  

By: Martin Creamer     6th October 2020 South Africa’s one-size-fits-all mining legislation is losing vital jobs for the country in the job-intensive alluvial diamonds space that requires regulations tailored to junior mining to survive, South African Diamond Producers Organisation (Sadpo) reiterated on Monday. Because there are so... 

Regulations tailored to alluvial diamonds will reward S Africa with jobs – Sadpo
Mining Weekly’s Martin Creamer speaks to the South African Diamond Producers Organisation’s Gert van Niekerk and Lyndon de Meillon. Video: Darlene Creamer.

BlueRock Diamonds issues shares

By: Tasneem Bulbulia     5th October 2020 Aim-listed BlueRock Diamonds has issued 21 935 ordinary shares at a price of 54.4p a share, to part satisfy the payment of interest and repayment premium, in accordance with the original loan agreement between former BlueRock CEO Adam Waugh and the company. The capital amount outstanding on the... 

NUM prepares for strikes at diamond, coal mines

By: Marleny Arnoldi     2nd October 2020 The National Union of Mineworkers (NUM) has warned it will embark on strikes at diamond miners De Beers and Petra Diamonds' operations in South Africa, and at diversified miner Exxaro Resources’ coal operations. This followed after the parties were unable to reach a wage settlement agreement at... 

Cabinless, emissionless vehicle foretelling underground’s autonomous future 

By: Martin Creamer     30th September 2020 Mining Weekly on Wednesday watched a cabinless emission-free next-generation mining vehicle autonomously load, haul and dump in an underground mine, without a human in sight. The cabinless design places emphasis on the extent to which traditional human operation at the rockface is becoming a... 

Cabinless, emissionless vehicle foretelling underground’s autonomous future
Photo by Creamer Media
Sandvik global product line manager automation David Hallett

BlueRock records milestones despite pandemic

By: Tasneem Bulbulia     29th September 2020 Aim-listed BlueRock Diamonds reports that it had achieved a lot for the six months ended June 30 despite the pandemic, noting that it is now well positioned to expand its operations as planned and to operate profitably again from the second half of the year. The company undertook a rapid response... 

Diamcor to raise C$3.5m

By: Tasneem Bulbulia     29th September 2020 Dual-listed Diamcor Mining intends to complete a convertible loan financing of up to C$3.5-million. The financing will comprise unsecured convertible promissory notes with a term of two years from the closing date and bearing interest at the rate of 10% a year. 

Carbide recycling can create jobs for mine communities – Sandvik  

By: Martin Creamer     29th September 2020 The local extraction of carbide inserts can create job opportunities for communities living around mines – “a true win, win, win situation for society, our customers and ourselves”, Sandvik rock tools division VP Nina Axman enthused on Tuesday. Sandvik is developing a new recycling process that... 

Carbide recycling can create jobs for mine communities – Sandvik
Mining Weekly’s Martin Creamer reports on Sandvik’s mining innovation virtual event. Video: Darlene Creamer

Worley assists surface miners’ transition to underground operations

25th September 2020 As openpit mines reach their economic end of life, mine owners are considering the viability of transitioning their opencast mining operations to underground, says global engineering firm Worley. Using its deep-level mining expertise in South Africa, Worley assists mine owners around the world in... 

Worley assists surface miners’ transition to underground operations
ROBERT HULL Worley's South African operation is recognised for its deep-level shaft experience, and has experience across most commodities

Online format expands global presence of Joburg Indaba

By: Cameron Mackay     25th September 2020 Owing to the impact of Covid-19 and the subsequent physical distancing regulations, yearly mining conference the Joburg Indaba will be hosted as an online discussion on October 7 and 8. Event organisers Resources 4 Africa CEO Paula Munsie states that this will enable industry players, who were... 

Online format expands global presence of Joburg Indaba
MAKING UP LOST GROUND Many of the Joburg Indaba’s presentations, panels and discussions will focus on how the mining industry can be revitalised after the Covid-19

New Argyle diamonds up for tender

By: Esmarie Iannucci     24th September 2020 Mining major Rio Tinto has unveiled a historic collection of 62 diamonds, including six ‘hero’ diamonds for its 2020 Argyle pink diamonds tender. Rio said this week that the six ‘hero’ diamonds were selected for their unique beauty and named to ensure there is a permanent record of their... 

World Jewellery Confederation welcomes new ISO diamond grading standard

By: Marleny Arnoldi     23rd September 2020 The World Jewellery Confederation (Cibjo) has welcomed the new publication by nongovernmental body International Standards Organisation (ISO) of the internationally recognised diamond grading standard and says it is a historic moment for the global diamond industry. The confederation explains... 

World Jewellery Confederation welcomes new ISO diamond grading standard

De Beers cuts prices for smaller diamonds

By: Bloomberg     22nd September 2020 De Beers has cut prices for smaller diamonds in its latest move to draw customers back to the market after the coronavirus froze up trading in precious stones. The company had already discounted bigger and more expensive stones last month for the first time since the pandemic struck. It’s now... 

Vast director Mabhudhu head-hunted by Zimbabwe State-owned diamond company

By: Donna Slater     22nd September 2020 Aim-listed gold, diamonds and polymetals miner Vast Resources reports that its executive director Mark Mabhudhu has received and accepted an offer to join the government-owned Zimbabwe Consolidated Diamond Company (ZCDC) as CEO, starting immediately. Mabhudhu’s acceptance of the offer followed a... 

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