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Diamonds News

Gem recovers high-quality 233 ct diamond at Letšeng

By: Tasneem Bulbulia     1st September 2020 LSE-listed Gem Diamonds has recovered a high-quality 233 ct Type II white diamond from its 70%-owned Letšeng mine, in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. This follows the recent recovery of a high-quality 442 ct Type II diamond, one of the world's largest... 

BlueRock values 12ct diamond at $104 000

By: Tasneem Bulbulia     1st September 2020 Aim-listed BlueRock Diamonds says a 12.12 ct diamond recovered at its Kareevlei mine, near Kimberley, in South Africa, in July has been valued at $104 000. "This is our fifth diamond recovered with a value of above $100 000.  

Federation appoints diamond sales expert to lead Get Diamonds trading platform

By: Marleny Arnoldi     31st August 2020 The World Federation of Diamond Bourses (WFDB) has appointed Kim Pelletier CEO of its newly formed Get Diamonds business-to-business trading platform. The federation says Get Diamonds is the only nonprofit diamond trading platform with a focus on “by the industry, for the industry”.  

Cheaper diamonds fire life into the hidden world of gem trading

By: Bloomberg     31st August 2020 For the past six months, the global diamond hubs in Antwerp, Belgium, and Mumbai have been at a standstill, with cutting and polishing factories closed and trading floors shuttered. Now, a capitulation on prices by the biggest miners is sparking the industry back to life. After refusing to budge... 

Diamcor delays annual, quarterly results releases

By: Marleny Arnoldi     28th August 2020 TSX-V-listed Diamcor Mining has announced that it will publish its financial results for the year ended March 31 on September 14, in accordance with an extension granted by the relevant authorities. The company, which owns the Krone-Endora at Venetia diamond project, in South Africa, initially... 

Russian diamond giant follows De Beers with price cuts

By: Bloomberg     27th August 2020 Russian diamond miner Alrosa joined rival De Beers in cutting prices for its gems, but with a twist -- the company changed its billing system so buyers can’t tell which stones are discounted, or by how much. The two biggest producers for months refused to cut prices even as sales collapsed... 

Master Drilling aligning with opencast mines going underground in changing world  

By: Martin Creamer     26th August 2020 South Africa-based drilling company Master Drilling, which is active in 23 countries, is aligning itself with the transitioning global requirement of opencast mines going underground. “As the world is changing, so are the mines,” said Master Drilling technology director Koos Jordaan at the... 

Curves on the hard rock 9 ° inclination of the declining cutting face at Eland mine.
Master Drilling technology director Koos Jordaan’s presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Zimbabwe diamond miner expects demand bounce after virus turmoil

By: Bloomberg     26th August 2020 Zimbabwe’s second-largest diamond miner sees demand picking up, after the coronavirus pandemic forced RioZim to halt sales in March amid slumping gem prices. With jewelry stores closed, cutters and polishers stuck at home and global travel at a standstill, the diamond industry ground to a halt... 

Botswana govt says no guarantee on De Beers sales deal by end-2020

By: Reuters     26th August 2020 The Botswana government said there was no guarantee that it would be able to renew a new 10-year sales agreement with De Beers before the end of December, when the current one expires, as the coronavirus pandemic has delayed negotiations. "The ideal situation would be to end the talks by December... 

Alrosa sells more than 1 700 ct of diamonds in digital auction

By: Simone Liedtke     25th August 2020 Russian diamond miner Alrosa has sold 132 lots, weighing more than 1 700 ct during its digital auction in August. As part of the auction, clients were able to view and evaluate 2 300 ct of rough diamonds across 172 lots. 

De Beers cuts diamond prices after Covid-19 curbs demand

By: Bloomberg     25th August 2020 De Beers has finally decided to cut the price of its diamonds in a bid to spark sales after the coronavirus pandemic paralyzed the industry. De Beers, the world’s biggest producer, told customers that it is cutting prices for larger stones by almost 10% at its sale starting this week, according... 

De Beers cuts diamond prices after Covid-19 curbs demand

Gem recovers 442 ct diamond in Lesotho

By: Simone Liedtke     21st August 2020 London-listed Gem Diamonds has recovered a high-quality 442 ct Type II diamond from its Letšeng mine, in Lesotho. CEO Clifford Elphick says the recovery of the 442 ct diamond “is further confirmation of the calibre of the Letšeng mine and its ability to consistently produce large, high-quality... 

Gem recovers 442 ct diamond in Lesotho

Electra Mining Africa 2020 going digital with Connect – and it’s free of charge 

By: Martin Creamer     20th August 2020 The Electra Mining Africa Connect week will enable exhibitors to promote their products and services free of charge alongside industry-related informative webinars, media activations and product showcase opportunities from September 7 to 11. For the first time in 48 years, Electra Mining Africa... 

Specialised Exhibitions MD Gary Corin.
Specialised Exhibitions MD Gary Corin outlines Electra Mining Africa 2020 Connect plans to Martin Creamer. Video: Darlene Creamer.

Alrosa to start mining upper levels of Inter mine

By: Creamer Media Reporter      19th August 2020 Diamond miner Alrosa has received regulatory approval to open up and develop reserves at the upper horizons of the International underground mine, near Mirny, the Russian company said on Wednesday. The ore from the upper horizons would be received as early as in the fourth quarter, with capacity... 

Alrosa to start mining upper levels of Inter mine

Plaintiffs in Sierra Leone diamond mine lawsuit request freeze of Steinmetz subsidiary's assets

By: Reuters     19th August 2020 Sierra Leoneans seeking damages for alleged environmental degradation around a diamond mine have applied for a freezing order on the assets of Octea, a subsidiary of Israeli billionaire Beny Steinmetz's BSG Resources (BSGR). In an affidavit to the high court of Sierra Leone, seen by Reuters, the... 

Tiffany will soon reveal everywhere your diamond has traveled

By: Bloomberg     19th August 2020 Tiffany & Co wants to ease customers’ concerns about human rights abuses in the diamond industry by providing them with an unprecedented amount of detail about the precious stones it sells. Beginning in October, the 183-year-old luxury retailer will provide expanded origin details for newly... 

Mining production to end year higher than in the first half

By: Donna Slater     18th August 2020 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) says mining production and investment across most minerals, except for thermal coal, are likely to finish the year stronger than in the first half of the year as a result... 

WFDB, IDMA announce pioneer virtual World Diamond Congress

By: Tasneem Bulbulia     14th August 2020   The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have announced that the next World Diamond Congress will be held in a virtual format on September 14 and 15. 

Coronavirus pushes Q2 net profit of Russian diamond miner Alrosa down 98%

By: Reuters     14th August 2020 Russian State-controlled diamond producer Alrosa said on Friday that its second-quarter net profit fell by 98% year on year to 300-million roubles ($4-million) as the novel coronavirus outbreak hit demand for precious stones. The global diamond supply chain has been convulsed by the pandemic,... 

Coronavirus pushes Q2 net profit of Russian diamond miner Alrosa down 98%

Lucapa defers debt repayments

By: Esmarie Iannucci     14th August 2020 Diamond miner Lucapa has struck an agreement with its major financiers and shareholders Equigold and New Azilian, as well as the external financier for the Mothae project, the Industrial Development Corporation of South Africa, to defer some $13-million in loan repayments from 2020 and 2021, to... 

Awesome new proudly South African face mask kindling international interest   

By: Martin Creamer     13th August 2020 An awesome new proudly South African face mask, with a replaceable filtration system at its heart, is attracting international interest. The innovative and timely Hudaco Air Mask is a lockdown-period product of the Johannesburg Stock Exchange-listed Hudaco Industries group. (Also watch attached... 

The Hudaco mask assembly.
Hudaco CEO Graham Dunford and Hudaco’s executive consultant Mike Allnutt discuss the new Hudaco face mask innovation with Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Star Diamonds case against Rio Tinto allowed to proceed

By: Mariaan Webb     13th August 2020 Canada-based Star Diamond has made headway in its case to take joint venture (JV) partner Rio Tinto to court over its purported exercise of four options under an option and JV agreement relating to the Star-Orion South project, in Saskatchewan. This week, a Court of Queen’s Bench for... 

Star Diamonds case against Rio Tinto allowed to proceed

From carats to peanuts: how a pandemic upended the global diamond industry

By: Reuters     12th August 2020 As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. Patel, who worked for a decade in India’s Surat where about 80% of the world’s diamonds are polished,... 

From carats to peanuts: how a pandemic upended the global diamond industry

Alrosa's July diamond sales drop 79%, state help may be on its way

By: Reuters     11th August 2020 Russian diamond producer Alrosa said on Monday that its rough and polished diamond sales totalled $35.8-million in July, down 79% from a year earlier after the coronavirus pandemic hit demand and the supply chain. It marked a fourth consecutive month of weak sales as falling demand and supply... 

Alrosa's July diamond sales drop 79%, state help may be on its way

Lucara posts $14m second-quarter net loss, but supply agreement will soon boost revenue

By: Marleny Arnoldi     11th August 2020 Canadian mining company Lucara Diamond Corporation expects revenue from its unique supply agreement with HB Group to start realising during the third quarter. This follows after Lucara decided to not tender any of its diamonds larger than 10.8 ct in March, amid the uncertainty caused by... 

Mine export values back but volumes need boosting – Minerals Council 

By: Martin Creamer     10th August 2020 South Africa’s mine export values have bounced back encouragingly but volumes still need boosting. June’s export value was 13% up on May. 

Production and export volumes compared with export values.
Production and export volumes compared with export values.

Sadpo co-founder dies; industry is managing Covid-19 well

By: Marleny Arnoldi     7th August 2020 South African Diamond Producers Organisation (Sadpo) chairperson Gert van Niekerk reports in a newsletter that the organisation’s former deputy chairperson and co-founder Jaap van Heerden has passed away. Van Niekerk goes on to report that its members in the diamond mining industry have adapted... 

Diamond industry seeing signs of recovery, says WFDB acting president

By: Simone Liedtke     6th August 2020 The diamond industry is learning to live with and work alongside the Covid-19 pandemic, and is, as a result, starting to see some signs of recovery, says World Federation of Diamond Bourses (WFDB) acting president Yoram Dvash. He explains that the first half the year “was almost a complete... 

Mountain Province to resume traditional sales next month

By: Mariaan Webb     6th August 2020 Canadian diamond mining company Mountain Province expects to resume its traditional sales methods in September, after being unable to execute any formal sales during the Covid-hit second quarter. With the market for rough diamonds coming to a virtual halt as a result of the pandemic, the 50%... 

Gahcho Kué, at Kennady Lake on the Canadian tundra, is a joint venture with global major De Beers.
Gahcho Kué, at Kennady Lake on the Canadian tundra, is a joint venture with global major De Beers.

South Africa's diamond polishers look to lockdown lovers to add shine

By: Reuters     5th August 2020 South Africa's diamond industry, famed for sales the world over and supplying gems for the British crown jewels, is looking closer to home to revive its fortunes following the coronavirus slump. Even before the new virus triggered the Covid-19 pandemic, diamond prices and demand were weak. Global... 

Exchange control lifting sends strong growth message – Anglo 

By: Martin Creamer     4th August 2020 The lifting of exchange control by South Africa sends a really strong message about the country’s desire to promote investment and growth, says Anglo American finance director Stephen Pearce. He gave South Africa a pat on the back during Anglo’s virtual presentation of half-year results last... 

Anglo American finance director Stephen Pearce
Anglo American finance director Stephen Pearce

Crop nutrients have double potential of coal being exited – Anglo 

By: Martin Creamer     3rd August 2020 Covid-19 notwithstanding, diversified mining company Anglo American will this year be spending the $300-million that it forecast on the Woodsmith polyhalite project in the UK, which gives it entry into the crop nutrients business at a time when fertilising is being hailed a godsend to ease global... 

Anglo American's Woodsmith polyhalite mining shaft under construction.
Photo by Anglo American
Anglo American's Woodsmith polyhalite mining shaft under construction.

Canadian Mining Eye index increases 72% in Q2

By: Donna Slater     30th July 2020 The mining and metals industry has fared “quite well” during the second quarter, despite the challenging landscape brought on by the Covid-19 pandemic, says professional services firm EY Canada mining and metals co-leader Jeff Swinoga. “This is not the first time this sector has had to face... 

World’s seeing widespread investment plans in hydrogen – Anglo 

By: Martin Creamer     30th July 2020 The broader portfolio of diversified mining and marketing company Anglo American is positioned to contribute an environmental-led new materials demand in a world that is seeing widespread investment plans in hydrogen, Anglo CEO Mark Cutifani said on Thursday. “We’ve seen the early evolution of... 

Anglo says hydrogen is a clean and abundant fuel with applications using PGMs
Photo by Anglo American
Anglo says hydrogen is a clean and abundant fuel with applications using PGMs

Diamond giant De Beers likely to cut jobs after Covid-19 hit

By: Reuters     30th July 2020 Diamond mining giant De Beers is likely to have to cut jobs, its chief executive said on Thursday, as it outlined plans for an overhaul of its business after the coronavirus hit jewellery demand. De Beers, a unit of Anglo American, earlier reported plunging earnings in the first half of 2020 as... 

Bruce Cleaver
Photo by Creamer Media
Bruce Cleaver

Higher prices offset lower sales volumes for Gem in first-half

By: Marleny Arnoldi     30th July 2020 London-listed Gem Diamonds CEO Clifford Elphick says the company’s positive sales made during the six months ended June 30 demonstrated the resilience of its large diamonds during a global crisis and continued demand for high-quality diamonds. The impact of Covid-19 on the tender process for... 

Operational agility underpins Anglo’s $3.4bn half-year earnings 

By: Martin Creamer     30th July 2020 The first half of 2020 has tested society to its limits, Anglo American CEO Mark Cutifani said on Monday, when the company reported 39%-lower $3.4-billion half-year earnings before interest, taxes, depreciation and amortisation (Ebitda). The interim dividend of $0.28 a share declared by Anglo is... 

Profit attributable to equity shareholders of $0.5bn compared with last half-year’s $1.9-bn.
Photo by Anglo American
Profit attributable to equity shareholders of $0.5bn compared with last half-year’s $1.9-bn.

Diamcor sells 2 427 ct, delays publication of financial statements

By: Simone Liedtke     30th July 2020 Junior diamond miner Diamcor Mining recently completed the tender and sale of 2 427 ct, generating gross revenues of $271 263, representing an average price of $111.87/ct. The TSX-V-listed miner says it is also continuing efforts to implement short-term operational changes and cost reduction... 

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