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R/€ = 19.18 Change: -0.07
R/$ = 17.47 Change: -0.07
Au 1709.54 $/oz Change: -20.16
Pt 828.71 $/oz Change: -8.99
 

Diamonds News

De Beers warns of possible further downside risks

By: Marleny Arnoldi     20th February 2020 Although stock levels in the diamond industry’s midstream are returning to a more balanced position, following stable consumer demand, especially in the US, diamond miner De Beers has warned that risks remain. The company on Thursday reported a 55% year-on-year decrease in underlying earnings... 

Anglo delivers $3.5bn profit, declares final dividend 

By: Martin Creamer     20th February 2020 Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Lucapa keeps digging at Lulo

By: Esmarie Iannucci     19th February 2020 Diamond miner Lucapa will continue the hunt for the primary hard-rock sources of alluvial diamonds at its Lulo mine, in Angola, noting that the first stream bulk samples excavated from the Canguige tributary had resulted in the recovery of 45 diamonds weighing 30.3 ct. The bulk sample included... 

Star Diamonds notifies Rio Tinto of noncompliance at Star-Orion

By: Mariaan Webb     19th February 2020 Canadian exploration junior Star Diamond said on Tuesday that it would take all necessary actions to ensure that its interests in the Star-Orion South project, in which Rio Tinto Exploration Canada (RTEC) is earning into, were protected. The company said that RTEC’s purported exercise in... 

Petra adjusts cash flow target amid weak diamond market, coronavirus outbreak 

By: Marleny Arnoldi     17th February 2020 London-listed Petra Diamonds has cut its cash flow targets amid a weak diamond market, owing to the coronavirus outbreak, which started to affect Chinese citizens late last year and has since spread to 24 countries. Reporting on its results for the six months ended December 31, Petra on Monday... 

Petra adjusts cash flow target amid weak diamond market, coronavirus outbreak
Photo by Creamer Media
Petra Diamonds CEO Richard Duffy

Kimberley diamond symposium to be held in September

By: Simone Liedtke     14th February 2020 The 2020 Kimberley Diamond Symposium and Trade Show will take place in Kimberley, in the Northern Cape, in early September, the South African Diamond Producers Organisation (Sadpo) has confirmed. New technologies and geological interpretations have revived activity in mid-size and small-scale... 

Botswana seeks new De Beers diamond sales deal by end of April

By: , Bloomberg     14th February 2020 Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current ten-year deal that expires in January. The government wants to see more gems cut and polished within the borders of the world’s second-biggest biggest diamond producer,... 

Angola seeks to make itself a more mining-friendly jurisdiction

By: Rebecca Campbell     14th February 2020 Angola will this year initiate a new governance system for the country’s mining industry, the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, confirmed at the recent Investing in African Mining Indaba in Cape Town. The new system will include the new National Agency for... 

Gem welcomes price improvements for large and smaller diamonds

By: Marleny Arnoldi     13th February 2020 London-listed Gem Diamonds says following pressure on prices for larger high-quality diamonds last year, signs of improvement have been noted since December. Diamond prices for smaller commercial-type diamonds also remained under pressure for most of last year, with polished inventory levels... 

Gem welcomes price improvements for large and smaller diamonds
Gem Diamonds CEO Clifford Elphick

Alrosa to introduce ‘perfect shift’ at Aikhal

By: Creamer Media Reporter      13th February 2020 Russian diamond miner Alrosa is gearing up the launch the ‘perfect shift’ project, aimed at improving performance and reducing downtime of the mining fleet at its Aikhal division. The company explains that its Aikhal division has started to look into organisational changes required for the... 

De Beers identifies actions to further drive safety at its operations

By: Tasneem Bulbulia     12th February 2020 Diamond miner De Beers Group has identified five focus areas that will be advanced across the group’s businesses to further improve safety. The actions were agreed on at the group’s biannual safety summit last week, which brought together CEOs from across the group to deeply engage on Pioneering... 

De Beers identifies actions to further drive safety at its operations
De Beers Safety Summit

Lucapa reports further revenue from diamond sales

By: Esmarie Iannucci     12th February 2020 Diamond miner Lucapa has generated a further A$8.2-million from the run-of-mine diamond sales from its Lulo and Mothae mines. The ASX-listed company told shareholders that a total of 1 548 ct of diamonds from the Lulo operation, in Angola, was sold for gross proceeds of A$5-million, representing... 

Alrosa's diamond sales up 44% y/y in January

By: Creamer Media Reporter      11th February 2020 Russian diamond miner Alrosa's rough and polished diamond sales increased by 44% year-on-year to $405-million in January. This included $390.2-million worth of rough diamonds sold to third parties and $14.8-million of polished diamond sales. 

Singapore court finds diamond lab guilty of infringing Element Six patent

By: Marleny Arnoldi     10th February 2020 Synthetic diamond producer Element Six, part of De Beers Group, has welcomed the successful conclusion of its patent infringement lawsuit against a Singaporean diamond producer. The High Court of Singapore found that the Singaporean diamond producer had infringed an Element Six patent for... 

Singapore court finds diamond lab guilty of infringing Element Six patent

Alrosa to hold four rough diamond auctions in New York

7th February 2020 Russian miner Alrosa will hold four auctions in New York this year for rough diamonds weighing more than 10.8 ct. “In general, each auction attracts up to 100 companies from different countries. Auction sales currently account for about 10% of our overall sales,” Alrosa deputy CEO Evgeny Agureev... 

De Beers Group’s ‘make life brilliant’ fostering best-in-class mining 

By: Martin Creamer     7th February 2020 De Beers Group Managed Operations MD responsible for South Africa and Canada, Nompumelelo (Mpumi) Zikalala, spoke to Mining Weekly this week about the highlights and one lowlight of her first nine months in office. 

De Beers Group’s ‘make life brilliant’ fostering best-in-class mining
Photo by Creamer Media
Nompumelelo (Mpumi) Zikalala,

Endiama says it is preparing for an IPO

By: , Bloomberg     6th February 2020 Angolan State-owned diamond mining company Endiama plans to sell as much as 30% of its shares in an initial public offering in 2022. The sale is part of a government plan to increase transparency in the diamond sector and bolster production, chairperson Jose Manuel Ganga Junior said in an... 

Video: Minerals Council no longer just the voice of the mining majors 

By: Creamer Media Reporter      6th February 2020 The Minerals Council South Africa is no longer just the voice of the mining majors, Grant Mitchell, who heads up the council's Junior and Emerging Miners Desk pointed out in a briefing at the 2020 Investing in African Mining Indaba, this week. He highlighted that 40% of the Minerals Council's... 

Video: Minerals Council no longer just the voice of the mining majors
Minerals Council South Africa Junior and Emerging Miners Desk head Grant Mitchell addresses stakeholders at the 2020 Investing in African Mining Indaba. Video and editing: Nicholas Boyd.

Video: Venkat, Bristow enourage miners, govts to take a long-term view 

By: Creamer Media Reporter      6th February 2020 Mining companies and host governments have been urged to take a long-term view when investing in the natural resources sector in Africa. In a panel discussion on why investors should consider investing in Africa, Vedanta Resources CEO Srinivasan Venkatakrishnan (Venkat) highlighted the... 

Video: Venkat, Bristow enourage miners, govts to take a long-term view
Mining executives discuss the benefits of investing in Africa's mining sector and the impediments holding back the success of projects. Video and editing: Nicholas Boyd.

Lucara recovers 549 ct diamond at Karowe

By: Creamer Media Reporter      6th February 2020 Diamond miner Lucara Diamond Corporation has recovered an unbroken 549 ct white diamond "of exceptional purity" from its Karowe mine, in Botswana. The diamond was recovered from direct milling of ore sourced from the EM/PK(S) unit of the South Lobe. This follows the recent recovery of a... 

Lucara recovers 549 ct diamond at Karowe

Coronavirus drives Alrosa to shift diamond sales from Hong Kong

By: Reuters     5th February 2020 Russia's Alrosa, the world's largest diamond mining company, will hold its March auctions in Moscow and Israel after Hong Kong postponed two jewellery shows because of the coronavirus outbreak, the company said on Wednesday. Demand for diamonds in China, the world's second-largest market after... 

Gem recovers 183 ct diamond from Letšeng

By: Tasneem Bulbulia     4th February 2020 LSE-listed Gem Diamonds has recovered an exceptional 183 ct white Type IIa diamond from the Letšeng mine, in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. It has also recovered two other significant high-quality diamonds, weighing 89 ct and 70 ct. 

Anglo’s Cutifani stresses the need for sustainable mining  

By: Simone Liedtke     3rd February 2020 Despite mining’s contribution to almost every aspect of modern life, the industry is still seen as an industry “that takes more than it gives”, Anglo American CEO Mark Cutifani lamented in his keynote address at this year’s Investing in African Mining Indaba, which is taking place in Cape Town,... 

Anglo’s Cutifani stresses the need for sustainable mining
Anglo American CEO Mark Cutifani delivers his keynote address to delegates attending this year's Investing in Africa Mining Indaba. Source: Anglo American.

Urgent steps needed to revive South Africa’s economy – Minerals Council  

By: Martin Creamer     3rd February 2020 Urgent steps are needed to revive the South African economy, Minerals Council South Africa chairperson Mxolisi Mgojo said on Monday. Speaking on the first day of the four-day Investing in African Mining Indaba, he said the Minerals Council was ready and willing to work with the government. 

Urgent steps needed to revive South Africa’s economy – Minerals Council
Minerals Council chairperson Mxolisi Mgojo discusses low investor confidence in South Africa, while CEO Roger Baxter warns about the deterioration in security in the South African mining industry and how this is impacting on the sector and the economy. Video and editing: Creamer Media's Nicholas Boyd.

WDC calls for comment on its SoW toolkit, which assists with compliance

By: Marleny Arnoldi     31st January 2020 The World Diamond Council (WDC) is asking stakeholders to review its System of Warranties (SoW) Toolkit, following its unanimous adoption as a working draft by the WDC board of directors and members. Stakeholders have until March 31 to submit comments to WDC.  

WDC calls for comment on its SoW toolkit, which assists with compliance

Sylvania achieves record interim production, expects further improvements

By: Marleny Arnoldi     31st January 2020 Aim-listed Sylvania Platinum reached a new record interim production of 40 003 oz of platinum, palladium, rhodium and gold (4E) platinum group metals (PGMs) for the six months ended December 31, despite power disruptions and downtime during the last quarter of the interim period.  The company’s... 

Russia's Yakutia governor says Alrosa's flooded mine will be re-opened

By: Reuters     29th January 2020 The world's biggest diamond producing company, Russia's Alrosa, will restart production at Mir, a mine in the Yakutia region of the far east, shut since a deadly 2017 flood, the region's governor Aysen Nikolaev said in an interview. Yakutia, the world's biggest province by area, comprising half... 

De Beers' rough diamond sales increase in first sight of this year 

By: Creamer Media Reporter      29th January 2020 Diamond miner De Beers' rough diamond sales increased to $545-million for the first sales cycle of this year. This was higher than the $426-million in sales recorded for the tenth sales cycle of 2019, as well as the $500-million in sales recorded for the first sales cycle of 2019. 

De Beers' rough diamond sales increase in first sight of this year

Lucapa inks polishing deal at Lulo  

By: Esmarie Iannucci     29th January 2020 Diamond miner Lucapa has entered into a cutting and polishing agreement with leading diamond manufacturing group Safdico International over its Lulo alluvial mine, in Angola. As a preferred buyer, Safdico could purchase up to 60% of Lulo’s yearly alluvial rough diamond production, as permitted... 

Lucapa inks polishing deal at Lulo

Botswana Diamonds raises £250 000 for exploration

By: Marleny Arnoldi     28th January 2020 Aim-listed Botswana Diamonds has undertaken a placing with existing and new investors to raise £250 000 to fund exploration activities in Botswana, Zimbabwe and South Africa. The company will issue about 41-million new ordinary shares, at a placing price of 0.6p apiece.  

Minerals Council creates voice for small surface miners

By: Marleny Arnoldi     28th January 2020 The Minerals Council South Africa has established the Associations Leadership Forum to serve the needs of the council’s association members. These members include the Aggregate and Sand Producers Association of Southern Africa, the Clay Brick Association and the South African Diamonds Producers... 

Petra expects higher diamond prices, production in six months to June 30 

By: Marleny Arnoldi     27th January 2020 London-listed Petra Diamonds expects to report production of 2.07-million carats of diamonds for the six months ended December 31. In a trading update published on Monday, ahead of the release of its interim results on February 17, the miner noted that production for the six months had been... 

Petra expects higher diamond prices, production in six months to June 30
Photo by Creamer Media
Petra Diamonds CEO Richard Duffy

Mountain Province: Mine closures will help balance market

By: Mariaan Webb     24th January 2020 Sentiment in the rough diamond market was “slightly more optimistic” towards the end of 2019 and has remained “relatively positive” as the market prepares for the first selling cycle of 2020, Canadian miner Mountain Province reports. The company, which is a 49% participant with De Beers in... 

Mountain Province: Mine closures will help balance market
The Gahcho Kue mine in Canada's Northwest Territories

Indaba continues to drive investment opportunities

By: Tracy Hancock     24th January 2020 Investment in South African exploration has been lean of late, with numerous factors contributing to this reality, including the state of the economy and the ability to secure seed funding, says Investing in African Mining Indaba head of content Tom Quinn, of UK event organiser Hyve Group. “We... 

Indaba continues to drive investment opportunities
ROGER BAXTER Hyve brainstormed with the Minerals Council South Africa CEO how to include the topic of investing in South African exploration

Investors await cue from S African govt

By: Tracy Hancock     24th January 2020 Investors are wary of the South African mining industry, says Minerals Council South Africa CEO Roger Baxter, who will speak at this year’s Investing in African Mining Indaba, in Cape Town. “They are not only seeking certainty in respect of legislation and regulation, such as Mining Charter III... 

Investors await cue  from S African govt
INVESTMENT GROWTH PLAUSIBLE If South Africa can get back on the map as part of the top 25% of mining investment destinations, the country could significantly grow investment by about 60%

Anglo American delivers on 2019 production targets

By: Tasneem Bulbulia     23rd January 2020 Diversified miner Anglo American delivered on its production targets across the business for the year ended December 31, CE Mark Cutifani said on Thursday with the release of the group’s unaudited production results for the fourth quarter and the full-year. Production was up 4% for the fourth... 

Anglo American delivers on 2019 production targets
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Shareholder in Russia's Alrosa proposes selling up to $1bn of diamonds to Gokhran - Ifax

By: Reuters     21st January 2020 The government of Russia's Yakutia region, which has a stake in diamond producer Alrosa, has proposed the company sell rough diamonds worth $0.5-billion to $1-billion to the precious metals and gems repository Gokhran in 2020, Interfax news agency reported. Diamond miners are battling falling... 

BlueRock posts maiden profit

By: Simone Liedtke     21st January 2020 Aim-listed BlueRock Diamonds turned a profit for the first time during the second half of the 2019 financial year, the success of which was based the diamond producer having sold 12 675 ct of diamonds for the year, marking an increase of 118% over the year before. While grades and prices per cart... 

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