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Diamonds News
Lucara secures $220m for Botswana diamond mine expansion
By: Mariaan Webb 6th May 2021 Canadian miner Lucara Diamond Corp has secured credit-approved commitments for senior debt facilities of up to $220-million to fund the underground expansion of its Karowe mine that will allow the operation to continue until at least 2040. The facilities will include project financing of... →
Tanzania gets renewed hope to transform mining industry with Hassan administration – Leon
By: Donna Slater 5th May 2021 The “change of tone” brought by Tanzania’s new President Samia Suluhu Hassan over the past month could indicate a welcome new economic direction for the country, professional services firm Herbert Smith Freehills partner and Africa co-chairperson Peter Leon says. In March, former Tanzania... →
Mothae diamonds sell for $1.5m
By: Creamer Media Reporter 5th May 2021 Australia-based Lucapa Diamond Company has netted $1.5-million from the sale of 3 617 ct of diamonds from its Mothae mine, in Lesotho. The company achieved a price of $420/ct in this third sale of 2021. The average diamond price achieved in the three sales to date in 2021 is $936/ct. →
World’s biggest jewellery maker will no longer use mined diamonds
By: Bloomberg 4th May 2021 Pandora, which makes more pieces of jewelry than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewelry market remains tainted by reports of... →
Gem recovers 254 ct diamond
By: Creamer Media Reporter 4th May 2021 LSE-listed Gem Diamonds has recovered a high-quality 254 ct Type II white diamond from the Letšeng mine, in Lesotho. →
De Beers overtakes Newmont to lead ESG ranking of global miners
By: Bloomberg 30th April 2021 The world’s biggest diamond producer may not be the first name that comes to mind in a ranking of top ESG performers. But that’s what the latest industry survey revealed. De Beers scored the highest in London-based Alva’s quarterly rating of environmental, social and governance perceptions this... →
WFDB launches fundraising campaign for Covid-19 relief in India
By: Tasneem Bulbulia 29th April 2021 Industry organisation the World Federation of Diamond Bourses (WFDB) has launched a campaign, Diamond Aid, to raise funds to help India in its battle against Covid-19. On April 28, the WFDB executive committee held an emergency session over Zoom and decided unanimously to mobilise the... →
Alrosa recommends record high dividend amid strong demand for diamonds
By: Reuters 29th April 2021 Russia's Alrosa, the world's largest producer of rough diamonds, has recommended a record half-year dividend payment of 70.3-billion roubles ($938-million) representing 80% of its free cash flow (FCF), the State-controlled company said on Wednesday. The company, which competes with Anglo American... →
Mining policy should be hugely supportive of exploration’s multiplier magic – investor 
By: Martin Creamer 28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... →
Diamond stash worth billions sold off after demand roars back
By: Bloomberg 26th April 2021 The diamond industry’s collapse last year left the biggest producers with billions of dollars of uncut gems stashed away in safes. Now, in a matter of months, they’ve suddenly found buyers. The huge stockpile was built up when the diamond world came to a standstill during the height of the... →
Debswana expects new strategy to create at least $900m in extra revenue
By: Reuters 23rd April 2021 Debswana Diamond Company, a joint venture between the Botswana government and Anglo American’s De Beers, said on Friday that its new business strategy adopted last year should enable it to create at least ten-billion pula ($924-million) in additional revenue over the next four years. The... →
De Beers, BMH Africa launch skills development programme
By: Tasneem Bulbulia 23rd April 2021 Diamond miner De Beers’ Venetia mine, in partnership with contracting partner BMH Africa, on April 23 launched a programme to develop skills in the construction industry and ultimately enhance the local skills base. The programme, which is part of De Beers Group’s Socio-Economic Development... →
Diamcor sells 2 122.76 ct in latest tender
By: Donna Slater 22nd April 2021 TSX-listed junior diamond miner Diamcor Mining – in its first tender and sale of rough diamonds recovered from the processing of quarry material from its Krone-Endora at Venetia project during its new fiscal year starting April 1 – tendered and sold 2 122.76 ct. The sale generated initial gross... →
Anglo American lifts first-quarter output on strong copper, PGMs performance
By: Donna Slater 22nd April 2021 Diversified miner Anglo American managed to meet strong customer demand during the quarter ended March 31, despite some limited constraints at certain operations as a result of Covid-19, CE Mark Cutifani says. He notes that production for the quarter was achieved at 95% of normal operating capacity. →
Gem Diamonds records solid first-quarter performance
By: Tasneem Bulbulia 22nd April 2021 London-listed Gem Diamonds recovered 29 010 ct of diamonds from its 70%-owned Letšeng mine, in Lesotho, in the quarter ended March 31, an increase from the 26 110 ct produced in the first quarter of 2020. Gem sold 26 919 ct of diamonds and generated revenue of $43.9-million. The average price... →
BlueRock lifts Kareevlei production, extraction and grade
By: Donna Slater 20th April 2021 Aim-listed diamond producer BlueRock Diamonds, which operates the Kareevlei diamond mine, near Kimberley in South Africa, reports that its production for the first quarter of this year had increased by 40% year-on-year, despite adverse weather conditions. The mine produced 3 507 ct in the... →
Petra’s revenue increases as diamond market improves
By: Tasneem Bulbulia 20th April 2021 Diamond miner Petra Diamonds’ revenue for the quarter ended March 31 – the third quarter of its 2021 financial year – increased by 16% year-on-year to $106-million, as prices recovered to pre-Covid-19 levels. For the nine months ended March 31, revenue was $284.2-million, in line with that of the... →
Arctic Star strikes new kimberlite
By: Creamer Media Reporter 19th April 2021 Exploration company Arctic Star has announced a new discovery on the Diagras joint venture project, which is next to the Diavik and Ekati diamond mines, in Northwest Territory. Named the Birch kimberlite, it was discovered by targeting an electromagnetic and gravity anomaly. →
Botswana Diamonds to undertake second stage drilling campaign at Thorny River
By: Tasneem Bulbulia 15th April 2021 Dual-listed diamond explorer Botswana Diamonds will begin a further drilling programme on its Thorny River diamond prospect, in South Africa’s Limpopo province, on April 19. Following the discovery of the River kimberlite pipe, the company upgraded the potential of the property. →
Covid outbreak weighs on Mountain Province Q1 production
By: Mariaan Webb 14th April 2021 Canadian diamond miner Mountain Province has reported a sharp drop in first-quarter production, following the 22-day shutdown of its Gahcho Kué mine after a Covid outbreak in February. The mine recovered 1.39-million carats, which is 16% lower than the comparable quarter of 2020. The recovered... →
Exploration industry has tight deadline to comment on controversial draft regulations
By: Martin Creamer 9th April 2021 South Africa’s exploration industry has until April 19 to comment on controversial regulations still in draft form. “They’ve never consulted industry about it and what they are requesting is impractical,” says Allan Saad, a consulting exploration geologist, who formerly represented the now... →
S&P upgrades Petra’s credit rating, but negative outlook remains for now
By: Marleny Arnoldi 9th April 2021 Ratings agency Standard & Poor’s (S&P) Global has raised its long-term issuer credit rating on London-listed Petra Diamonds to ‘B-‘ from ‘D’, after the company reduced its debt by $375-million and extended its maturities for the next two years. S&P forecasts that Petra’s ratings-adjusted debt... →
BlueRock issues new shares to repay loan to former CEO
By: Tasneem Bulbulia 7th April 2021 Aim-listed BlueRock Diamonds has issued 61 013 ordinary shares at a price of £0.43 a share to part satisfy the payment of interest and repayment premium in accordance with the terms of the original loan agreement between the company and its former CEO Adam Waugh. The loan has now been repaid in... →
De Beers' third diamond sales cycle nets $440m
By: Donna Slater 7th April 2021 Diversified miner Anglo American’s diamond mining business De Beers’ third sales cycle of rough diamonds for this year generated $440-million. Owing to the restrictions on the movement of people and products in various jurisdictions around the globe as a result of the Covid-19 pandemic, De Beers... →
Value of iridium in electrolysis could top R90bn mark in years ahead – HySA
By: Martin Creamer 7th April 2021 The value of iridium for proton exchange membrane (PEM) water electrolysis technology alone could exceed R90-billion in the next ten to 20 years. This is the view of Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence: Hydrogen... →
Lucara extends HB supply agreement
By: Mariaan Webb 7th April 2021 Canada-headquartered Lucara Diamond Corp has extended its supply agreement for diamonds larger than 10.8 ct with HB Antwerp to December 2022. Under the terms of the agreement, the purchase price paid for each 10.8-ct plus rough diamond is based on the estimated polished outcome, determined... →
First Nation fears De Beers landfill could be ‘another Juukan Gorge’
By: Mariaan Webb 6th April 2021 The Attawapiskat First Nation has raised concern about the new landfill that global diamond miner De Beers, a unit of diversified major Anglo American, plans to build at the Victor mine site in the James Bay Lowlands of Canada. The new landfill, for which De Beers is seeking approval from the... →
The Victor mine, in the James Bay Lowlands of Canada
Pilot projects start at mines
By: Cameron Mackay 2nd April 2021 Drilling technology and services provider Rosond is involved in the development of new drilling solutions and methodologies for pilot projects at local underground mines. These projects involve using innovations, such as drilling using flushed air or foam instead of water, as well as using... →
Tech advancements will address productivity challanges
2nd April 2021 Although mining terrain, minerals and the earth’s surface materials may remain largely the same for years to come, the development in the technology used to extract these minerals has changed dramatically, notes Australian-based Austin Engineering in a press release last month. The company adds... →
How South Africa can unlock its exploration potential – Adrian Reynolds 
By: Martin Creamer 1st April 2021 Of four factors required to attract investment in exploration, economic and fiscal stability is the most important, says highly experienced geological and mining consultant and nonexecutive company director Adrian Reynolds. Reynolds spoke to Mining Weekly in a Zoom interview about the factors... →
Petra delays release of report into alleged abuses at Williamson mine
By: Tasneem Bulbulia 30th March 2021 LSE-listed Petra Diamonds says it has obtained further information relating to the allegations of human rights abuses at its Williamson mine, in Tanzania. It has, therefore, decided to defer the publication of its feedback on the independent investigation into the alleged human rights abuses... →
BlueRock sells three gem-quality diamonds for $214 000
By: Donna Slater 29th March 2021 Aim-listed diamond producer BlueRock Diamonds has sold three gem-quality diamonds weighing 8.4 ct, 10.6 ct and 9.7 ct for $214 000. Bluerock, which owns and operates the Kareevlei diamond mine in the Kimberley region of South Africa, sold the diamonds for $88 000, $73 000 and $53 000,... →
Botswana Diamonds progresses development of Botswana, South African projects
By: Marleny Arnoldi 29th March 2021 Aim-listed Botswana Diamonds (BOD) says it had an eventful six months ended December 31, 2020, making significant progress on its diamond development projects in Botswana and South Africa. Some of the company’s highlights include discovering a new diamond-bearing kimberlite at its Thorny River... →
De Beers serves to diversify Anglo’s business profile, providing stability – Moody’s
By: Donna Slater 26th March 2021 Diversified miner Anglo American’s De Beers subsidiary is serving to improve the group’s business profile by providing diversification and, most of the time, stability to its otherwise more closely correlated mining operations, reports risk assessment firm Moody’s in a recent report. With an... →
UK watchdog says guards at Petra’s Tanzanian mine deliberately modified ammunition
By: Tasneem Bulbulia 25th March 2021 Zenith Security guards employed at diamond miner Petra Diamonds’ Williamson mine, in Tanzania, allegedly deliberately swapped rubber projectiles with metal shot in their weapons, causing serious harm to local residents shot on the company’s concession, UK corporate watchdog RAID said in a... →
More diamonds sold from Mothae
By: Esmarie Iannucci 24th March 2021 Diamond miner Lucapa Diamonds has reported A$7.6-million in revenue from the sale of its latest parcel of rough diamonds from its Mothae kimberlite mine, in Lesotho. The company on Wednesday announced that 5 619ct of diamonds had sold for $1 050/ct, with the sale including a 215ct D-colour... →
Lucara aims to close $220m debt package for Karowe by mid-year
By: Mariaan Webb 24th March 2021 Canadian mining company Lucara Diamond has mandated five international financial institutions for a secured project financing package of up to $220-million to fund the underground expansion of the Karowe mine, in Botswana. The syndicate comprises ING Bank, Natixis, Société Générale, London... →
Master Drilling advancing mechanisation for two top-tier local clients
By: Martin Creamer 23rd March 2021 Mine mechanisation is being advanced for two top-tier local clients of Master Drilling, the CEO of the JSE-listed company, Danie Pretorius, said on Tuesday. Speaking to Mining Weekly in a Zoom interview after reporting 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to... →
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