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Diamonds News

Pangolin Diamonds raises $848 860 for exploration

By: Tasneem Bulbulia     10th September 2019 Pangolin Diamonds on Monday closed a nonbrokered private placement financing for aggregated gross proceeds of $848 860. The proceeds will be used to continue exploration at the company’s wholly owned exploration projects in Botswana, including the Phase 1 drilling programme at MSC, the company’s... 

Alrosa reports $181.8m in August sales

By: Reuters     10th September 2019 Russian diamond producer Alrosa said its rough and polished diamond sales stood at $181.8-million in August, its second lowest monthly sales figure this year. "The diamond market is still experiencing headwinds from both macroeconomic and industry specific factors, which have an adverse impact... 

Osisko to buy embattled miner Stornoway

By: Mariaan Webb     10th September 2019 Mining royalty and streaming company Osisko Gold Royalties has entered into a letter of intent (LoI) to form an entity to acquire embattled diamond miner Stornoway Diamonds, which was granted creditor protection by a Quebec court on Monday. Osisko and secured creditors would acquire “all, or... 

Osisko to buy embattled miner Stornoway

Alrosa seeks to brighten up its fluorescent diamond sales

By: Reuters     9th September 2019 Russia's Alrosa is talking to several global jewellery retailers about jointly marketing the miner's jewellery brand that uses fluorescent diamonds, as it strives to create a new niche for the natural stones. Diamond miners, which have long excelled at marketing, are seeking new approaches to... 

Botswana leader sees new diamond pact with De Beers after vote

By: Bloomberg     6th September 2019 Botswana’s government and De Beers are in “cordial” negotiations about a new diamond-sales pact to replace their current 10-year deal which expires in 2020 and it should be concluded after next month’s election, President Mokgweetsi Masisi said. “Everything is going as planned,” Masisi said... 

Multiple factors prompt amendment of Zim law

By: Theresa Bhowan     6th September 2019 The announcement of the intention to repeal the Indigenisation and Economic Empowerment Act by the Zimbabwe government in March 2019 was driven by various factors, including investor, political and legal motivations, global law practice and legal services provider Eversheds Sutherland tells... 

EMMERSON MNANGAGWA 
Calls for the indigenisation law to be repealed have been prevalent since President Emmerson Mnangagwa came into office
EMMERSON MNANGAGWA Calls for the indigenisation law to be repealed have been prevalent since President Emmerson Mnangagwa came into office

Bright horizons for investors, Zimbabwe diamond industry

By: Theresa Bhowan     6th September 2019 Russian diamond miner Alrosa says one of the motivations behind signing the $12-million joint venture (JV) agreement with national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) is to develop cooperation between Alrosa and its Zimbabwean partners and increase Alrosa’s presence in... 

MINING EXPLORATION
Russian diamond miner Alrosa aims to develop cooperation with its Zimbabwean partners
MINING EXPLORATION Russian diamond miner Alrosa aims to develop cooperation with its Zimbabwean partners

Currency crisis, mining policy uncertainty crippling economy

By: Theresa Bhowan     6th September 2019 While investor sentiment toward Zimbabwe is expected to improve, the country faces yet another economic crisis in the form a currency crisis that could deter investors who have had their interest in the country piqued recently, law firm Webber Wentzel tells Mining Weekly. “The indigenisation law,... 

BRUCE DICKINSON
There has been greater investment interest over the past 12 to 18 months, with less risk averse investors remaining positive about the prospects that Zimbabwe has to offer
BRUCE DICKINSON There has been greater investment interest over the past 12 to 18 months, with less risk averse investors remaining positive about the prospects that Zimbabwe has to offer

Mining sector is Zimbabwe’s greatest hope

By: Theresa Bhowan     6th September 2019 The optimism following the ousting of former Zimbabwean President Robert Mugabe was short-lived, with the realisation that it would not result in substantial change in the short term, or immediate return of foreign investment to Zimbabwe. This also came with the realisation that the once-healthy... 

WARREN BEECH
Radical change in Zimbabwe’s mining laws will facilitate a thriving mining sector
WARREN BEECH Radical change in Zimbabwe’s mining laws will facilitate a thriving mining sector

Power supply hampering Zimbabwe mining

By: Theresa Bhowan     6th September 2019 Despite experiencing growth last year, intermittent power supply and a lack of new foreign direct investment (FDI) are the main causes of the Zimbabwe mining sector’s declining performance, says specialist strategy and communications consultancy Africa Practice mining sector lead Rishon Chimboza. 

RISHON CHIMBOZA 
Zimbabwe needs to demonstrate that it is ready for investment when these investments start coming in
RISHON CHIMBOZA Zimbabwe needs to demonstrate that it is ready for investment when these investments start coming in

Angola is presenting mineral concessions in international centres

By: Rebecca Campbell     6th September 2019 The Angolan Government is currently engaged in an international roadshow to showcase mineral concessions that the country will make available to local and foreign investors. The roadshow started with a presentation in Luanda on August 27, with the second presentation to be held in Dubai on... 

Gem’s cost-cutting drive on track

By: Tasneem Bulbulia     5th September 2019 LSE-listed Gem Diamonds continues with the successful implementation of its business transformation programme, which is aimed at achieving $100-million in incremental revenue, productivity improvements and cost savings to the end of 2021. Reporting on the diamond miner’s results for the six... 

Alrosa to consider withdrawal from subsidiary Alrosa-Nyurba

By: Reuters     5th September 2019 Alrosa said on Thursday its supervisory board will consider terminating the Russian diamond miner's participation in the share capital of Alrosa-Nyurba on September 10 by way of voluntary liquidation of Alrosa-Nyurba. The voluntary liquidation, in case it gets an approval from Alrosa's board and... 

Mining investments in Zimbabwe  

5th September 2019 Mining Weekly and Engineering News Senior Deputy Editor Martin Zhuwakinyu unpacks the investments in Zimbabwe’s mining sector. 

Mining investments in Zimbabwe
Mining investments in Zimbabwe

Electricity issues a major constraint on investment – Mantashe  

By: Esmarie Iannucci     4th September 2019 South Africa’s Mineral Resources and Energy Minister, Gwede Mantashe, has urged continued foreign investment into the country’s resources sector, saying that the government is actively working to address electricity issues, which have constrained economic growth. Speaking on the sidelines of... 

Mineral Resources and Energy Minister Gwede Mantashe at the Africa Downunder conference in Perth.
Mineral Resources and Energy Minister Gwede Mantashe at the Africa Downunder conference in Perth.

Lucapa has record month, reports full year profits

By: Esmarie Iannucci     3rd September 2019 Diamond miner Lucapa has reported record monthly production from both the Lulo and Mothae diamond mines, in Angola and Lesotho respectively. The Lulo mine produced 3 180 ct in August, while the Mothae operation recovered a record 2 911 ct in the same year. 

Tech helps Botswana Diamonds identify five kimberlite targets

By: Marleny Arnoldi     2nd September 2019 Pioneering geophysical work undertaken by Aim-listed Botswana Diamonds has identified kimberlite pipes buried at shallow depth on the company’s Thorny River prospect, in Botswana. The company says the targets identified are similar to the pipe that constituted the high-grade and famous De Beers... 

BlueRock expects to be profitable in second half

By: Simone Liedtke     2nd September 2019 Aim-listed BlueRock Diamonds produced more than 50% of its overall output for the six months ended June 30 in May and June. Production for the two months reached 63 200 t. 

De Beers commits R4m for development of malaria testing technology

By: Marleny Arnoldi     30th August 2019 Diamond miner De Beers has provided a grant of €288 999, or R4-million, to a Limpopo-based company called Erada Technology Alliance to aid in its development of a technology focused on reducing the global malaria burden. Erada is pioneering work on the world’s first-ever saliva-based rapid test... 

Committee calls for transformation in diamonds, precious metals sectors

By: Tasneem Bulbulia     30th August 2019 The Portfolio Committee on Mineral Resources and Energy has called for the South African Diamond and Precious Metal Regulator (SADPMR) to transform the sector, as well as to capacitate its existing transformation office to ensure these sectors reflect the demographics of the country. On Thursday,... 

Sierra Leoneans sue government for alleged environmental failings at diamond mine

By: Reuters     30th August 2019 Sierra Leoneans living next to the country's largest diamond mine are taking their government to West Africa's regional court for failing to protect them from alleged environmental lapses by the company that runs it, a subsidiary of Octea Limited The complaint, filed to the Economic Community of... 

Minerals Council developing exploration strategy

By: Nadine James     30th August 2019 The Minerals Council South Africa is in the process of developing a draft exploration strategy to present to the Council for Geosciences (CGS) and the Department of Minerals Resources and Energy (DMRE), Minerals Council CEO Roger Baxter told attendees of the Afriforesight Future of Metals... 

ROGER BAXTER
South Africa should be attracting at least 5% of global exploration investment
Photo by Creamer Media
ROGER BAXTER South Africa should be attracting at least 5% of global exploration investment

De Beers continues to offer supply flexibility as polished inventories remain high 

By: Simone Liedtke     28th August 2019 Diamond miner De Beers Group sold $280-million of rough diamonds during the seventh sales cycle of this year. While this was $30-million higher than sales for the sixth cycle, it was significantly lower than the $503-million of diamonds sold in the seventh sales cycle of 2018. 

Namibia’s central bank forecasts deeper economic contraction in 2019

By: Reuters     28th August 2019 The Bank of Namibia said on Tuesday it expected the domestic economy to fall into a deeper contraction of 1.7% during 2019, down from its initial estimate of 0.3% positive growth in April. The central bank said the economy was expected to recover to positive growth of 0.8% and 1.2% in 2020 and... 

Delport resigns as Trans Hex CEO

By: Creamer Media Reporter      27th August 2019 Llewellyn Delport has resigned as CEO of diamond exploration, mining and marketing company Trans Hex, effective August 31. The Trans Hex board thanked Delport for his contribution to the company since 2004. 

Kagem attracts record buyer interest at Lusaka auction

By: Tasneem Bulbulia     23rd August 2019 Gemstone miner Gemfields’ latest auction of commercial-quality emeralds, held in Lusaka this week, attracted a record number of international buyers. The auction of 35 schedules of emeralds recovered from the Kagem mine, in which London-based Gemfields holds 75% and the Zambian government 25%... 

Sunland Minerals’ prospecting licences extended by two years

By: Simone Liedtke     22nd August 2019 Prospecting licences held by dual-listed Botswana Diamonds subsidiary Sunland Minerals have been renewed until September 20, 2021. The licences, which cover just over 500 km2, are located in the Kalahari Desert, west of the Ghaghoo diamond mine. 

BlueRock sells 7.63 ct diamond for $52 000

By: Tasneem Bulbulia     19th August 2019 Aim-listed BlueRock Diamonds, which operates the Kareevlei mine, in the Kimberley region of South Africa, has sold a 7.63 ct diamond for $52 000 during its August tender. This is the company’s fifth diamond to sell for more than $50 000 this year. 

Tsodilo’s Botswana prospecting licence renewed

By: Marleny Arnoldi     19th August 2019 Botswana’s Ministry of Mineral Resources, Green Technology and Energy Security has granted a renewal of TSX-listed Tsodilo Resources’ prospecting licence in the country for an additional two years, ending September 30, 2021. The licence area, which is within the Orapa Kimberlite Field, contains... 

De Beers 'saddened' by death of Debswana MD

By: Creamer Media Reporter      16th August 2019 Diamond miner De Beers Group on Friday said it was "shocked and saddened" by the sudden death of Debswana MD Albert Milton. Milton had become unwell while in Johannesburg on Thursday evening. He had been admitted to hospital, but died early on Friday morning. 

Da Vinci model required for mining in Industry 4.0 – Cawood

By: Darren Parker     16th August 2019 The global push for ever-increasing technological advancement in the mining industry means that it needs to readdress the way it builds and sources competencies, with a focus on breaking down skills silos to create more multidisciplined professionals, according to Wits Mining Institute director... 

FRED CAWOOD
Sensors will take our jobs if we don’t stay relevant
FRED CAWOOD Sensors will take our jobs if we don’t stay relevant

Gem Diamonds delivers good first-half output

By: Natasha Odendaal     15th August 2019 Some 18 months into its four-year business transformation programme, diamond miner Gem Diamonds is on track to deliver its targeted $100-million in incremental revenue, productivity improvements and cost savings by the end of 2021. Since implementation, the LSE-listed group has achieved... 

Deadline for Stornoway bids extended to Sept 16

By: Mariaan Webb     15th August 2019 Junior miner Stornoway Diamond Corp, the owner and operator of the Renard mine in Quebec, has extended the deadline for bid submissions for a buyer or major investor by two months to September 16. This comes as the company, which is relying on bridging finance to operate, has failed to receive... 

Pink Russian diamond may rank among world’s most valuable gems

By: Bloomberg     14th August 2019 A 14.83-ct pink gem found and cut by Alrosa is expected to fetch one of the highest prices ever for a diamond when the Russian company puts it up for sale later this year. The oval stone, named The Spirit of the Rose, has been certified by the Gemological Institute of America as fancy vivid... 

De Beers will let buyers reject more diamonds to fend off crisis 

By: Bloomberg     14th August 2019 De Beers will let buyers reject more diamonds at a sale next week as the mining company shows almost unprecedented flexibility to ease a growing crisis. The Anglo American unit has told customers they can refuse to buy half of the stones offered that are smaller than three-quarters of a carat,... 

De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

Mountain Province no longer meets Nasdaq listing requirements

By: Mariaan Webb     14th August 2019 Canadian diamond miner Mountain Province is no longer complying with the minimum bid price requirement of the Nasdaq and has until February 10 to regain compliance with the stock exchange’s listing rules. Based on the closing bid price for the last 30 consecutive business days from June 28 to... 

Mountain Province no longer meets Nasdaq listing requirements

Platinum-catalysed fuel cells can cut mine ventilation costs – HySA 

By: Martin Creamer     13th August 2019 Replacing diesel machines with zero-emitting fuel cell electrical equipment can lower the cost of underground mine ventilation, says Hydrogen Infrastructure (HySA) director Dr Dmitri Bessarabov, who adds that renewable hydrogen can also be used to mitigate air pollution at Eskom power stations.... 

HySA's clean mining ventilation test facility.
Photo by HySA
HySA's clean mining ventilation test facility.

Airborne tech allows for deep geological exploration in Australia

By: Cameron Mackay     9th August 2019 Continuous development and improvement in airborne geophysics technology provider Spectrem Air’s geophysical survey technology makes the company’s SPECTREM plus system platform ideal for exploration and mapping of deep geology in difficult conditions in Australia, says Spectrem Air GM Louis... 

SOARING AMBITIONS

Spectrem Air will keep the SPECTREM plus system in Africa for about two years, but will most likely return to Australia to meet the demand for airborne geophysics
SOARING AMBITIONS Spectrem Air will keep the SPECTREM plus system in Africa for about two years, but will most likely return to Australia to meet the demand for airborne geophysics
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