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Diamonds News

Stronger rough diamond prices prompt Diamcor to fast-track some Phase 2 expansion projects

By: Creamer Media Reporter      2nd March 2022 TSX-V-listed Diamcor Mining plans plans to accelerate certain portions of the planned Phase 2 expansion projects at its Krone-Endora at Venetia project, in Limpopo, South Africa. “Given the current strength of rough diamonds prices and the potential for additional shortages moving forward, we... 

ESG slowing down as energy transition highlights mining as indispensable – RMF  

By: Martin Creamer     2nd March 2022 The energy transition is highlighting mining as an indispensable industry, said Responsible Mining Foundation (RMF) CEO Hélène Piaget in opening a webinar on 'Responsible Mining Index (RMI) Report 2022', which reports a slowdown in economic, environmental, social and governance (ESG). “Yet there... 

Creamer Media screenshot.
Responsible Mining Foundation report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Resources Watch  

2nd March 2022 This week: Platinum group metals may also play role in batteries; Kumba CEO gives firm thumbs up to continued exploration in prospective Northern Cape; and, De Beers Group posts stunning financial results 

Resources Watch
Resources Watch

WFDB implores diamond industry to adopt responsible business practice guidelines

By: Marleny Arnoldi     1st March 2022 The World Federation of Diamond Bourses (WFDB) concluded a successful President’s Meeting in Dubai last week, during which the organisation adopted a resolution in support of social responsibility, transparency, compliance and full disclosure. The keynote address was delivered by Angola... 

Uncut diamonds from southern Africa and Canada

Diamcor lifts fourth-quarter sales by 25%

By: Donna Slater     1st March 2022 TSX-V-listed diamond miner Diamcor Mining, which operates the Krone-Endora at Venetia mine in Limpopo, South Africa, tendered and sold 25% more rough diamonds, at 5 441.88 ct, in the fourth quarter ended December 31, 2021, compared with the third quarter. This generated $1.07-million in revenue... 

Lucapa achieves record revenue in 2021

By: Marleny Arnoldi     28th February 2022 ASX-listed Lucapa Diamond Company achieved A$22.3-million in attributable earnings before interest, taxes, depreciation and amortisation for the year ended December 31, 2021. In a trading statement ahead of the release of its results towards the end of March, the company reported that it had... 

Petra generates $110m so far in fourth tender cycle

By: Marleny Arnoldi     25th February 2022 London-listed Petra Diamonds says it has successfully closed sales for about 80% of the volume of diamonds on offer during its fourth tender cycle for its 2022 financial year ending June 30. About 589 100 ct have been sold for $110-million, at an average price of $188/ct.  

Petra Diamonds' Cullinan mine
Petra Diamonds' Cullinan mine

Strong diamond market pushes Lucara's full-year revenue, Ebitda higher 

By: Chanel de Bruyn     25th February 2022 Vancouver-headquartered Lucara Diamond Corporation achieved a more than five-fold year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $102.5-million for the financial year ended December 31. That compares with the adjusted Ebitda of... 

The Karowe mine
The Karowe mine

Investment into battery minerals increases

By: Anna Moross     25th February 2022 Namibia has consistently maintained its position as one of sub-Saharan Africa’s primary mining investment destinations, with increased investment in minerals such as cobalt, lithium and co 

An image of Warren Beech, CEO of Beech Veltman
WARREN BEECH Namibia’s increased investment in battery minerals is attributable to its extensive deposits and its stable and mature mining subsectors

Great to see such healthy demand for this great industry – De Beers  

By: Martin Creamer     24th February 2022 It's great to see such a healthy demand for this great industry, De Beers Group CFO Sarah Kuijlaars said after posting a set of stunning financial results for the world’s leading diamond company by value. Underlying 2021 earnings before tax, depreciation and amortisation soared to $1 100-million... 

Supplied picture
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly's Martin Creamer.

Petra reduces debt further, posts 87% growth in interim Ebitda

By: Marleny Arnoldi     22nd February 2022 The first half of the 2022 financial year has set London-listed Petra Diamonds in good stead to maintain profitability and cash flow, as well as meet operational guidance for the full-year. In the six months ended December 31, 2021, Petra grew its adjusted earnings before interest, taxes,... 

Surging diamond demand helps Botswana trader post record sales

By: Bloomberg     22nd February 2022 Botswana’s State-run diamond trader reported record revenue last year with sales surging almost five fold after imports from the US recovered from a Covid-19 induced slowdown. Okavango Diamond Company sold $963 million of rough diamonds last year, said Dennis Tlaang, a company spokesman. The... 

BlueRock recovers 11.95 ct diamond at Kareevlei

By: Creamer Media Reporter      22nd February 2022 Aim-listed BlueRock Diamonds has recovered an 11.95 ct diamond at its Kareevlei mine, in the Kimberley region of South Africa. The diamond miner says the diamond has an expected valuation in excess of $100 000 and will go to tender later this week. 

Star Diamond and Rio Tinto set meeting date for JV project

By: Creamer Media Reporter      21st February 2022 Canadian junior Star Diamond and Rio Tinto Exploration Canada (RTEC) are set to meet on March 4 to review data collected from last two field seasons and to approve and interim expenditures budget for their Fort a la Corne (FalCon) joint venture (JV) project. The JV partners, which at the end of... 

Lucapa receives A$5m dividend from Angola subsidiary

By: Marleny Arnoldi     18th February 2022 ASX-listed Lucapa Diamond Company has received a 2021 interim dividend payment of A$5-million, or $2.6-million, from its 40%-owned and wholly operated alluvial mining company Sociedade Mineira Do Lulo (SML), based in Angola. SML, which operates the Lulo project, is co-owned by Angola’s... 

Lukas Lundin retires as chair of Lundin Mining, Lundin Gold and Lucara

By: Mariaan Webb     18th February 2022 Lukas Lundin has announced his retirement as chairperson of several boards of mining companies that his family controls, including base metals producer Lundin Mining, gold junior Lundin Gold and Botswana's Lucara Diamond Corp. His retirement will be effective at the respective companies'... 

Largest and most valuable blue diamond to come to auction at Sotheby's Hong Kong

By: Reuters     17th February 2022 It's the largest and most valuable blue diamond to ever come to auction. And, it's a recent discovery. The more than 15 ct De Beers Cullinan Blue diamond was mined in 2021 at South Africa's Cullinan Mine, one of the few sources in the world for extremely rare blue diamonds. It will be offered in... 

Red tape delaying R90bn investment in ready-to-go projects – Minerals Council 

By: Martin Creamer     14th February 2022 Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Diamcor tender generates $1m in revenue

By: Marleny Arnoldi     11th February 2022 TSX-V-listed Diamcor Mining has had a fruitful first rough diamond tender for the year, selling 3 062 ct and generating gross revenue of $1.01-million. Diamonds sold for an average price of $329.93/ct.  

Firering to fast-track diamond drilling programme at Côte d'Ivoire project

By: Tasneem Bulbulia     10th February 2022 Aim-listed Firering Strategic Minerals says further mapping by SEMS Exploration on and around Spodumene Hill at its flagship Atex project, in Côte d'Ivoire, has identified additional pegmatite outcrops, as well as more lithium-bearing pegmatite float, allowing for the fast-tracking of a diamond... 

WFDB Presidents' Meeting to be held in Dubai later this month

By: Tasneem Bulbulia     10th February 2022 Industry association the World Federation of Diamond Bourses (WFDB) will hold its bi-annual Presidents’ Meeting from February 23 to 25, at the Almas Tower, in Dubai. The meeting, the first in-person WFDB meeting since the beginning of the coronavirus pandemic, will be attended by presidents and... 

Russian arctic diamond miner ALMAR plans IPO next month

By: Bloomberg     9th February 2022 Russian diamond miner ALMAR plans to sell 15% of its shares in an initial public offering next month, betting that a booming gem market will attract investors despite geopolitical tensions weighing on the nation’s stocks. The company plans to list on Russia’s SPB Exchange and use the proceeds on... 

Russian arctic diamond miner ALMAR plans IPO next month

Petra appoints Jon Dudas as nonexec director

By: Tasneem Bulbulia     9th February 2022 London-listed Petra Diamonds has appointed Jon Dudas as an independent nonexecutive director of the company, effective March 1. Dudas is currently chairperson of Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, which he joined in 2020. Prior to this, he was independent nonexecutive director and... 

Directors face potential liability for climate change risks – Webber Wentzel 

By: Martin Creamer     8th February 2022 Directors face potential liability if they fail to carry out their fiduciary duties to curb climate change risks and do not make complete disclosures about climate-related risks, Webber Wentzel partner Merlita Kennedy and associate Tobia Serongoane stated on Tuesday. In a release to Mining... 

Creamer Media montage
Webber Wentzel associate Tobia Serongoane (left) and partner Merlita Kennedy.

Diamonds industry rebounding strongly after disruptive two years

By: Donna Slater     7th February 2022 Consultancy Bain & Company and the Antwerp World Diamond Centre (AWDC) report that the diamond industry is experiencing a “spectacular” rebound after a decline in 2020 as a result of the Covid-19 pandemic, when diamond jewellery sales fell by 14% and rough diamond sales by 31%. The eleventh... 

Robust demand delivers $660m in revenue for De Beers’ first 2022 sales cycle

By: Tasneem Bulbulia     2nd February 2022 Diamond miner De Beers sold $660-million of rough diamonds during its first sales cycle of the year. “As anticipated, there was strong growth in consumer demand for diamond jewellery over the end of year holiday season. 

Petra agrees new first lien banking facility on more favourable terms

By: Tasneem Bulbulia     2nd February 2022 Diamond miner Petra Diamonds has concluded a binding, credit-approved term sheet for the refinancing of its first lien debt facility with its South African lender group, providing for more favourable terms than the group’s current first lien facilities. The conclusion of the new facility is... 

Gem achieves $100m business transformation target

By: Creamer Media Reporter      1st February 2022 London-listed Gem Diamonds says it achieved its four-year business transformation target of $100-million in incremental revenue, productivity improvements and cost savings by the end of 2021. All operational and financial metrics for the year were also within, or better than, guidance, the... 

Vast backs out of Ghaghoo acquisition

By: Darren Parker     1st February 2022 Vast Resources has pulled out of a deal to acquire Gem Diamonds Botswana (GDB) with joint venture (JV) partner Botswana Diamonds. GDB’s primary asset is the fully permitted Ghaghoo diamond mine in central Botswana, which is currently under care and maintenance. 

Debswana annual diamond sales jump 64%

By: Reuters     1st February 2022 Sales of rough diamonds by Debswana Diamond Company jumped 64% in 2021, statistics released by the Bank of Botswana showed on Monday, driven by the reopening of key global consumer markets. The total value of Debswana's diamond exports stood at $3.466-billion in 2021 compared with $2.120-billion... 

South Africa needs to embrace Ubuntu principles in going green, webinar hears 

By: Martin Creamer     31st January 2022 In decarbonising and going green, South Africa needs to embrace the principles of Ubuntu and show humanity towards others. That view was expressed by Gold Fields South Africa executive VP Martin Preece during the 'Decarbonisation & Going Green in the Mining Sector' webinar hosted by Creamer Media... 

Screenshot by Creamer Media
Photo by Creamer Media
From top left, clockwise, are Abel Sakhau, Martin Preece, Jevon Martin, Nikisi Lesufi and James Mackay.

Lucapa records strong 2021 performance

By: Tasneem Bulbulia     27th January 2022 ASX-listed Lucapa Diamond Company recorded a year of operational growth and consolidation in 2021, with record operational and financial performances, MD Stephen Wetherall said in a quarterly activities report for the period ended December 31. “The commissioning of the standalone kimberlite bulk... 

De Beers raises output as demand strengthens

By: Donna Slater     27th January 2022 Diamond miner De Beers increased its rough diamond production by 15% year-on-year to 7.7-million carats for the fourth quarter of 2021, reflecting planned higher production to meet strengthening levels of demand. Production from its Botswana operations increased by 23% to 5.2-million carats for... 

Anglo increases copper guidance for 2022 as Peru mine comes online

By: Marleny Arnoldi     27th January 2022 Global miner Anglo American says its production for the fourth quarter of 2021 was flat compared with output in the fourth quarter of 2020. CEO Mark Cutifani noted on January 27 that operating levels across the group had been at about 95% of normal capacity throughout 2021 as a result of... 

Anglo CEO Mark Cutifani
Anglo CEO Mark Cutifani

Diamcor delivers 3 103.40 ct for first 2022 tender and sale

By: Tasneem Bulbulia     26th January 2022 Canadian company Diamcor Mining has delivered about 3 103.40 ct of rough diamonds in January for its initial tender and sale of the New Year. These rough diamonds, which were recovered from the processing of quarry material at the company’s Krone-Endora at Venetia project, in South Africa, will... 

BlueRock sells 6.8ct diamond for $63 186

By: Tasneem Bulbulia     25th January 2022 Aim-listed BlueRock Diamonds has sold a 6.8 ct diamond recovered from its Kareevlei mine in South Africa for $63 186 in its January sale. "We recently announced we had two potentially high-value stones to sell in the January tender and, although one fell under our $50 000 disclosure threshold, we... 

There’s a buying frenzy in cheap and tiny diamonds

By: Bloomberg     23rd January 2022 A surge in diamond demand that began in the early Covid lockdowns is showing no sign of easing, and now even the cheapest, smallest stones are getting caught up in a buying frenzy. Low-end diamonds — the sort that you might find in jewellery displayed in a local WalMart — has been a tough... 

A photo of diamond sorting

RioZim plans to list on dollar-only Zimbabwe exchange

By: Bloomberg     21st January 2022 RioZim is weighing a listing on Zimbabwe’s Victoria Falls Stock Exchange, where trading is denominated in foreign currency, according to people familiar with the matter. The nickel, gold and diamonds producer is “seriously considering all options available to it under the legal framework of the... 

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