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Diamonds News

BlueRock concludes diamond sale

By: Tasneem Bulbulia     8th June 2020 Aim-listed BlueRock Diamonds, which operates the Kareevlei diamond mine, near Kimberley, in South Africa, has announced the private sale of 2 400 ct at an average price of $290 /ct for a total of $700 000. "This sale at a time when the traditional sales channels for diamonds remain closed and at... 

The great diamond glut: Miners stuck with gems worth billions

By: Bloomberg     7th June 2020 In one of the world’s biggest diamond vaults, hidden inside a nondescript office compound on the dusty outskirts of Botswana’s capital, the precious stones just keep piling up. Owner De Beers, which mines and auctions most of its gems in the southern African nation, has barely sold any rough... 

Alrosa sees coronavirus impact lingering after Q1 profit slide

By: Reuters     5th June 2020 Russian diamond producer Alrosa reported an 87% slide in first-quarter net profit on Friday and said its future results were likely to suffer from the impact of the coronavirus outbreak on sales. Net profit fell to 3.1-billion roubles in the first three months of the year, it said, hurt by the... 

Diamond market outlook at even odds

By: Mamaili Mamaila     5th June 2020 The diamond industry has been dealing with an oversupplied market since upstream production hit a multi-year high in 2017 and as the mid-stream segment delivered inventory in 2018 and 2019. 

Diamond market  outlook at even odds
PAUL ZIMNISKY Marketing, branding and building consumer demand in new markets is the real answer to increasing demand for diamond jewellery

Diamonds are forever in times of crisis

By: Mamaili Mamaila     5th June 2020 Some mined commodities, particularly precious metals, such as gold, have increased in value, owing to the perception that they can be safe-haven assets during times of crisis. 

Diamonds are forever in times of crisis
ERNEST BLOM The reopening of markets, such as those of China and the US, are a much-needed light at the end of the tunne

Diamonds’ upward trend to resume post pandemic

By: Mamaili Mamaila     5th June 2020 Although diamond prices were gradually recovering from their low during the 2008/09 financial crisis, prior to the Covid-19 pandemic, the lockdowns in many countries have caused trading to come to a halt. 

Diamonds’ upward trend to resume post pandemic
JAMES CAMPBELL Although diamond prices typically drop the fastest – which they have – they are also among the quickest to recover

Sector ahead of the sustainability curve, challenges remain

By: Mamaili Mamaila     5th June 2020 With many local diamond mining operations reaching their end of life, the rehabilitation and remediation of such sites – in a closure and liquidation context – has been a particular focus in recent years, says law firm Bowmans partner Wandisile Mandlana. 

Sector ahead of the sustainability curve, challenges remain
LEADING THE PACK The sector is a few years ahead of other mining subsectors locally in terms of closure

Hard-hit diamond jewellery sector mulls postpandemic recovery strategies

By: Mamaili Mamaila     5th June 2020 The unforeseen global health crisis triggered by the Covid-19 pandemic has had dire economic repercussions, to which South Africa is not immune. 

Hard-hit diamond jewellery sector mulls postpandemic recovery strategies

South Africa's mining industry records 527 positive Covid-19 cases, 72 recoveries

By: Donna Slater     4th June 2020 The Minerals Council South Africa, in its third weekly Covid-19 update briefing on June 4, reported that, to date, the domestic mining industry has 527 positive cases of Covid-19, with 7 461 miners having been tested and 226 796 having been screened. The mining industry has also reported 72... 

Well positioned to weather storm – Standard Bank

By: Martin Creamer     4th June 2020 The Standard Bank is well positioned to weather the Covid-19 storm and remains determined to emerge from this crisis as a stronger Africa-focused financial services group, Standard Bank Group FD Dr Arno Daehnke said on Thursday. The capital and liquidity levels of Africa’s biggest lender by... 

Well positioned to weather storm – Standard Bank
Standard Bank building.

Kazera acquires interest in diamond mine, mineral sands opportunity

By: Tasneem Bulbulia     4th June 2020 Aim-listed Kazera Global has announced the conditional acquisition of a controlling interest in a near-term producing diamond mine, as well as in a heavy mineral sands (HMS) opportunity in South Africa. Kazera will acquire a 90% stake in Deep Blue Minerals (DBM), for £600 000 in shares to be... 

Pangolin to raise $600 000 for exploration

By: Simone Liedtke     4th June 2020 TSX-V-listed Pangolin Diamonds intends to complete a nonbrokered private placement of units to raise aggregate gross proceeds of up to $600 000. The net proceeds of the offering will primarily be used for exploration expenditures at its various projects in Botswana, as well as for working capital... 

Employment in alluvial diamonds, Kalagadi Manganese & Moz make headlines  

4th June 2020 Mining Weekly Editor Martin Creamer discusses the South African Diamond Producers Organisation's plea to be allowed create jobs in the alluvial diamond sector, the Industrial Development Corporation & the future of Kalagadi Manganese, and Mozambique's online licence processing system.  

Employment in alluvial diamonds, Kalagadi Manganese & Moz make headlines
Employment in alluvial diamonds, Kalagadi Manganese & Moz make headlines

BlueRock achieves notable production at Kareevlei following restart

By: Tasneem Bulbulia     3rd June 2020 Aim-listed BlueRock Diamonds is recording solid results at its Kareevlei diamond mine in the Kimberley region of South Africa, following its restart last month when mines in South Africa were allowed to partially resume operations. There have been no cases of Covid-19 reported at Kareevlei. 

Mozambique streaks ahead with new e-government cadastre advance 

By: Martin Creamer     3rd June 2020 While South Africa is still trundling along laboriously with a minerals cadastre system fraught with shortcomings, Mozambique has rocketed to the highest firmament of e-government licence processing, Mining Weekly can report. Mozambique first led the pack 17 years ago when, ironically, it latched... 

Mozambique streaks ahead with new e-government cadastre advance
Mozambique mining cadastre portal.

Urgent plea to allow struggling alluvial diamond sector to create jobs 

By: Martin Creamer     3rd June 2020 The discovery of alluvial diamonds in the unique secondary deposits of the Middle Orange River downstream of Hopetown in South Africa in 1867 was the catalyst that initiated the development of the mining industry in Southern Africa. But compared with its heyday between the 1990s and early 2000s,... 

Urgent plea to allow struggling alluvial diamond sector to create jobs
South African Diamond Producers Organisation (Sadpo) deputy chairperson Lyndon De Meillon

Lucapa closes rights issue

By: Esmarie Iannucci     3rd June 2020 Diamond miner Lucapa has raised A$5.25-million through its non-renounceable pro-rata rights issue to bankroll its search for the primary kimberlite source of the high value alluvial diamonds recovered at its Lulo project, in Angola. The company in April announced the rights issue under which... 

New solution for monitoring tailings dams 

By: Martin Creamer     2nd June 2020 The tragic tailings dam breach in Brazil that killed more than 270 people has focused the world of mining on making tailings dams safe. Earlier this year, and environmental organisation Grid-Arendal launched the world’s first publicly accessible global database of mine tailings storage facilities... 

New solution for monitoring tailings dams
Photo by Creamer Media
Tailings dam.

New natural diamond council launched  

By: Martin Creamer     2nd June 2020 A natural diamond is made from carbon and is the hardest natural known substance on earth. Natural diamonds are created over a period of one to three billion years, many kilometres below the earth's mantle under natural conditions of very high pressure and high temperature. But unlike champagne,... 

New natural diamond council launched
Natural Diamond Council supports United Nations Sustainable Development Goals.

Petra Diamonds experiences Covid-19-influenced drop in diamond sales 

By: Donna Slater     1st June 2020 Driven by significantly reduced diamond prices, especially in its March tender, diamond miner Petra Diamonds reports a drop in revenue of 32% year-on-year to $91.3-million for the third quarter of the financial year ended March 31. Reflecting stable market conditions before the Covid-19 pandemic... 

Congo suspends board and management of State diamond miner MIBA

By: Reuters     1st June 2020 The Democratic Republic of Congo has suspended the board of directors and management of state-controlled diamond mining company MIBA, after an audit revealed significant irregularities, the government said in a statement. The audit identified a host of problems including compliance, governance,... 

Minister urges mines to test without fear of mine closure 

By: Martin Creamer     29th May 2020 Mineral Resources and Energy Minister Gwede Mantashe on Friday urged mines to test for Covid-19 to the full extent without fearing mine closure. The Minister was responding to a media question on the steps the Department of Mineral Resources and Energy (DMRE) was taking to end the backlog of... 

Minister urges mines to test without fear of mine closure
Photo by Creamer Media's Donna Slater
Gwede Mantashe

Mining industry well prepared to tackle Covid-19 with new, existing protocols 

By: Donna Slater     29th May 2020 The South African mining industry is, generally, well prepared to deal with the return to work of a large percentage of staff as lockdown Alert Levels move from Level 4 to Level 3 on June 1, reports the Minerals Council South Africa. The council noted in its second weekly Covid-19 update... 

Mining industry well prepared to tackle Covid-19 with new, existing protocols
Minerals Council of South Africa head of health Thuthula Balfour

Sadpo suggests diamond stocks be held back until market improves

By: Marleny Arnoldi     29th May 2020 In its latest newsletter, the South African Diamond Producers Organisation (Sadpo) has advised that diamond producers hold back on production and sales, as the rough diamond market remains under immense pressure. Sadpo says the rough diamond market, particularly for larger diamonds, has... 

This year's Electra Mining cancelled

By: Donna Slater     29th May 2020 Organisers of Southern Africa’s mining, manufacturing, automation, electrical and power trade exhibition Electra Mining Africa, Specialised Exhibitions, reports that the 2020 edition of the trade fair has been cancelled as a result of the Covid-19 pandemic. This year’s show had been scheduled to... 

Botswana Diamonds recovers over 100 diamonds from Marsfontein bulk sampling

By: Simone Liedtke     29th May 2020 Aim- and BSE-listed Botswana Diamonds (BOD) has concluded the processing of two bulk samples taken from the Marsfontein diamond development project, in Limpopo; the samples of which comprised 58 t of fresh high-interest kimberlite and 62 t of kimberlite material from one of the residual... 

Conversation on getting economy back on track post-Covid has begun   

By: Martin Creamer     28th May 2020 The conversation has begun on getting the South African economy back on track with the necessary structural reforms post-Covid, Minerals Council South Africa CEO Roger Baxter said on Wednesday. Speaking at question time during a virtual media conference following the council’s annual general... 

Conversation on getting economy back on track post-Covid has begun
Minerals Council’s virtual media conference covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Nondigital mines losing out on R213bn in value 

By: Donna Slater     28th May 2020 An updated version of a 2017 study conducted by professional services firm Accenture in collaboration with the World Economic Forum – the 'Extracting Value and Building Resilience with Data-led Mining in South Africa' report – highlights that, with a combination of seven digital initiatives,... 

Nondigital mines losing out on R213bn in value
Accenture Africa Industry X.0 MD Eric Croeser talks to Mining Weekly about how mines can enhance their digital technologies to unlock further efficiencies, improve safety and cut costs

Administrator says Alexkor, partner mismanaged and insolvent

By: Marleny Arnoldi     27th May 2020 Alexkor’s administrator Lloyd McPatie has said the diamond mining company is trading recklessly and cannot meet its financial obligations. Briefing the Portfolio Committee on Public Enterprises and the Select Committee on Public Enterprises and Communication on his observations of issues at the... 

Mining production to fall 8% to 10% this year, says Minerals Council

By: Reuters     26th May 2020 South Africa's mining production is likely to fall between 8% and 10% this year due to the Covid-19 pandemic, the CEO of industry body the Minerals Council said on Tuesday during a virtual panel discussion. Mines across South Africa, the world's biggest producer of platinum and chrome and a... 

AMCU calls for testing of all employees at affiliated workplaces 

By: Donna Slater     25th May 2020 The Association of Mineworkers and Construction Union (AMCU) has again called on employers to test all employees for Covid-19 as the pandemic continues to spread across South Africa. AMCU notes that while it has consistently called for the testing of all workers, the official stance of... 

Dominion Diamond reaches agreement to sell substantially all its assets

By: Creamer Media Reporter      25th May 2020 Struggling miner Dominion Diamond Mines, which filed for insolvency protection last month, has reached an agreement to sell substantially all its assets in a transaction that will allow mining operations at Ekati to resume and avoid bankruptcy. The company signed a letter of intent (LoI) with an... 

Dominion Diamond reaches agreement to sell substantially all its assets
The Ekati mine, in Northwest Territories.

Full reopening of mining from June 1 – President Ramaphosa

By: Martin Creamer     24th May 2020 Subject to strict Covid-19 protocols, mining will be allowed to reopen fully from June 1, President Cyril Ramaphosa said on Sunday. In his address on South Africa’s response to the coronavirus pandemic, the President announced that South Africa would advance to level 3 from June 1, with an... 

Full reopening of mining from June 1 – President Ramaphosa
Photo by Creamer Media's Donna Slater
President Cyril Ramaphosa

Alrosa cuts production target by up to 17%

By: Creamer Media Reporter      22nd May 2020 Diamond major Alrosa on Friday announced that it would curtail 2020 production to between 28-million and 31-million carats, in response to the crisis unfolding in the global rough and polished diamond market. The 2020 production guidance compares with the group’s initial guidance of 34-million... 

Alrosa cuts production target by up to 17%

Leon lists measures to attract mining investment in these challenging times  

By: Martin Creamer     22nd May 2020 South Africa should consider appointing an independent minerals regulator to speed up minerals licensing, Herbert Smith Freehills Africa co-chair Peter Leon said during a webinar this week. Responding to Patrick Leyden, who moderated the webinar entitled re-imagining the sub-Saharan mining... 

Leon lists measures to attract mining investment in these challenging times
Herbert Smith Freehills Africa Co-Chair Peter Leon spoke at a webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Trainer to benefit from investment, mature sector

By: Cameron Mackay     22nd May 2020 Virtual mining training solutions provider Immersive Technologies is encouraged by the “maturity level” of companies in Botswana, particularly in terms of technology. It is, therefore, looking forward to contributing to the wave of development in the country, spurred by continued investment from... 

Trainer to benefit from investment, mature sector
MAUN TRAINING CENTRE The mining simulators are deployed to optimise operational techniques for new hires

Covid-19 response built on successful holistic approach

By: Nadine James     22nd May 2020 The De Beers Group’s ‘Put Safety First as our Number One Value’ way of work – driven by management and mainstreamed into the operations – has led to numerous successes in terms of the holistic health and safety of its employees, and now forms the basis of its Covid-19 response, says  De Beers... 

Covid-19 response  built on successful holistic approach
URISHANIE GOVENDER De Beers developed action plans per country of operation, with preventive protocols as well as emergency response plans and restart procedures

Copper Belt exploration enables diversification

By: Cameron Mackay     22nd May 2020 Renewed exploration interest in the Kalahari Copper Belt, in Botswana, can help the country diversify its mining economy and industrialise, says mining consulting services provider MSA Group principal consultant Mike Robertson. He emphasises that diamond mining has been the mainstay of Botswana’s... 

Copper Belt exploration enables diversification
RENEWED EXPLORATION INTEREST Improvements in exploration techniques have resulted in a pipeline of exploration projects
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