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Diamonds News

Global diamond trade fractures under the weight of Russia sanctions

By: Bloomberg     13th May 2022 Russia’s invasion of Ukraine is fracturing a billion-dollar trade that spans the permafrost-laden diamond mines of Siberia, secretive trade houses in Antwerp, dusty polishing powerhouses in India and New York’s glittering designer jewellery stores. Russian mining giant Alrosa supplies about a... 

Now you can own a fraction of a fancy coloured diamond

By: Bloomberg     13th May 2022 A new fractional ownership business centered on fancy colored diamonds will launch on May 18. Luxus, founded by hedge fund expert Dana Auslander and fashion journalist Gretchen Gunlocke Fenton, will debut with a first offering of a .54 carat fancy pink diamond. 

Sierra Leone says will no longer provide forex for mining companies importing fuel

By: Reuters     13th May 2022 Sierra Leone will no longer provide foreign exchange for mining companies and other large businesses to import oil as of June 1, accusing them of "stockpiling diesel fuel", its Petroleum Regulatory Agency said in a statement. Sierra Leone has a large mining industry, mainly based on diamonds,... 

Mining production down 9.3% y/y in March

By: Creamer Media Reporter      12th May 2022 South Africa's mining production decreased by 9.3% year-on-year in March, with the largest negative contributors being gold, iron-ore, manganese ore and platinum group metals. Diamond production, which increased by 44.3% year-on-year, made a significant positive contribution to the overall figure. 

De Beers an industry leader in innovation, technology 

By: Simone Liedtke     12th May 2022 FutureSmart Mining, together with its longstanding innovation and technology programmes, is part of what makes diamond company De Beers stand out as “the world’s leading diamond company”, says De Beers Group managed operations MD Moses Madondo. “De Beers has been an industry leader in innovation... 

Venetia Mine in South Africa showing the headgear
De Beers Group managed operations MD Moses Madondo talks to Mining Weekly at this year's Mining Indaba. Video & Editing: Nicholas Boyd.

Minimum of 14 000 jobs a year from South Africa’s first hydrogen corridor 

By: Martin Creamer     11th May 2022 South Africa’s first hydrogen corridor now under development has the potential to generate a minimum of 14 000 jobs, $400-million in gross domestic product and $900-million in taxes a year by 2050. In an addition, there is potential to grow platinum group metal (PGM) demand by between 1% to 2%... 

Creamer Media picture.
Photo by Creamer Media
Minerals Council hydrogen briefing from left Allan Seccombe, Roger Baxter and Fahmida Smith.

Diamond prices are spiking and even De Beers can't fill the gap

By: Bloomberg     11th May 2022 Prices are surging in some corners of the rough-diamond market, as sanctions on one of the world’s two giant miners ripple through the supply chain. In the past, the industry could turn to behemoth De Beers to crank out extra gems when supply ran tight — but not this time. The price of a small... 

An image of De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

Ghaghoo sale falls through, but Botswana Diamonds remains hopeful of a future deal

By: Donna Slater     11th May 2022 Aim- and BSE-listed diamond explorer Botswana Diamonds reports that, despite intensive advanced and ongoing discussions with interested parties, its board has been unable to secure a new joint venture (JV) partner to acquire the Ghaghoo mine before the extended long-stop date of May 10. The... 

Minerals Council spells out members’ commitment to climate change mitigation 

By: Martin Creamer     11th May 2022 Members of Minerals Council South Africa have agreed to commit to a climate change response strategy that will reduce Scope 1 and Scope 2 emissions and achieve a net zero emission by 2050 or earlier. Minerals Council South Africa senior health and environment executive Nikisi Lesufi on Tuesday... 

Creamer Media picture
Photo by Creamer Media
Minerals Council South Africa senior health and environment executive Nikisi Lesufi, closest right, with Minerals Council's Allan Seccombe, left.

South Africa keen to harness hydrogen economy opportunities, President Ramaphosa tells Indaba  

By: Martin Creamer     10th May 2022 It was just amazing to see the innovation that the mining industry is capable of scaling up, President Cyril Ramaphosa told the Investing in African Mining Indaba in his enthusiastic address on Tuesday. “Last week, I attended the launch by Anglo American of the world’s largest hydrogen-powered... 

Creamer Media picture taken of screen
Photo by Creamer Media
President Cyril Ramaphosa at the Investing in African Mining Indaba.

South Africa has significant implementation crisis – Minerals Council 

By: Martin Creamer     9th May 2022 South Africa has a significant implementation crisis. A number of government departments and parastatals were hollowed out. Capacity is a significant issue in almost every parastatal – water authorities, Eskom, Transnet and across the board. “We’re not rushing in to take over activities because... 

supplied picture
Minerals Council South Africa CEO Roger Baxter.

'The Rock', a record-setting white diamond, goes up for auction

By: Reuters     6th May 2022  The largest white diamond ever auctioned will go under the hammer in Geneva next week, part of a sale by Christie's that features two stones weighing more than 200 carats each. "The Rock", a 228.31 carat pear-shaped stone roughly the size of a golf ball, is expected to sell for up to $30... 

Lucara Diamond's quarterly revenue rises on continued market buoyancy

By: Mariaan Webb     6th May 2022 Botswana-focused Lucara Diamond Corp has reported a 28% year-on-year increase in first-quarter revenue, reflecting continued buoyancy in diamond prices and the sale of several higher value rough diamonds. The TSX-listed miner posted revenue of C$68.2-million from the sale of 80 295 ct from the... 

De Beers introduces pioneer blockchain-backed diamond source platform at scale

By: Tasneem Bulbulia     5th May 2022 Diamond miner De Beers Group is deploying the Tracr blockchain platform at scale for its diamond production. The group says Tracr is the world’s only distributed diamond blockchain that starts at the source and provides tamper-proof source assurance at scale, enabling sightholders to provide a... 

An image showing De Beers sighting
Tracr enables sightholders to provide a fixed record of a diamond’s origin

World Coal Association favours just energy transition to net zero future  

By: Martin Creamer     5th May 2022 The World Coal Association, and its member companies, are in favour of a just transition to a net zero future, World Coal Association chairperson July Ndlovu said on Thursday. In his keynote address to the Southern African Coal Conference, Ndlovu emphasised the sincerity of the association’s... 

Creamer Media photograph
Photo by Creamer Media
World Coal Association chairperson July Ndlovu

Barrick Gold Q1 profit beat estimates, doubles dividend

By: Reuters     4th May 2022 Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in... 

An image of Barrick CEO Mark Bristow
Barrick CEO Mark Bristow

Botswana Diamonds discovers largest anomaly to date at Thorny River project

By: Tasneem Bulbulia     4th May 2022 Aim- and BSE-listed Botswana Diamonds’ ground geophysics survey on its Thorny River property in South Africa has led to the discovery of the largest anomaly to date on the project, consistent with a kimberlite pipe of 25 m in diameter. A detailed drilling programme is planned for July to August,... 

Petra nets $86.1m from fifth tender

By: Donna Slater     3rd May 2022 Diamond miner Petra Diamonds sold 635 806 ct of diamonds for $86.1-million during its fifth tender for the 2022 financial year. This is down from the 735 222 ct sold at the fourth tender, which generated $140.6-million, and the 885 136 ct sold in the third tender for $128.4-million.  

Zondo wants Alexkor directors, diamond dealers to be probed for fraud

By: News24Wire      29th April 2022 A decade after the state-owned diamond company Alexkor became a site of Gupta influence and corruption, the Judicial Commission of Inquiry into State Capture issued a long list of recommendations to pursue perpetrators. In its report, released on Friday, the commission details how former minister... 

Zuma replaced Ramatlhodi with inexperienced 'Gupta minister' Zwane to do their bidding – Zondo

By: News24Wire      29th April 2022 It was clear that former president Jacob Zuma replaced Ngoako Ramatlhodi as mineral resources minister because he refused to cooperate with the Gupta family’s wishes, the State Capture Inquiry has found. "... Ramatlhodi had consistently refused to have anything to do with the Guptas and was not... 

Mosebenzi Zwane
Photo by Creamer Media
Mosebenzi Zwane

Presidency receives fourth part of Zondo Commission's report into State capture

By: Creamer Media Reporter      29th April 2022 The Presidency on April 29 received the fourth part of the report of the Judicial Commission of Inquiry into Allegations of State Capture.   Secretary of the Commission Professor Itumeleng Mosala handed over the report to acting Director-General in The Presidency Thami Ngwenya at the Union... 

Chief Justice Raymond Zondo
Chief Justice Raymond Zondo

Russia says it may buy diamonds from sanctions-hit Alrosa

By: Reuters     28th April 2022 Russia may buy an as yet undetermined amount of rough diamonds from sanctions-hit producer Alrosa through its state precious metals and gems repository Gokhran, the country's Finance Minister Anton Siluanov said on Wednesday. The United States imposed sanctions on State-controlled Alrosa in... 

De Beers' 15 ct blue diamond sold for $58m at Sotheby’s

By: Bloomberg     28th April 2022 The De Beers Blue diamond has been auctioned for HK$450.9-million ($57.5-million) at Sotheby’s in Hong Kong. The 15.1 ct, fancy vivid blue diamond was sold Wednesday evening to an unnamed buyer. The step-cut gem, recovered from the Cullinan mine in South Africa, is the largest vivid blue diamond... 

Petra Diamonds exploring responsible Koffiefontein exit 

By: Martin Creamer     26th April 2022 Diamond company Petra is exploring a responsible exit from its investment in the Koffiefontein diamond mining operations. The exit would be carried out together with its black economic empowerment partners Kago Diamonds and its Itumelang employee trust, the London Stock Exchange-listed company... 

New Limpopo diamond mine on cards 

By: Martin Creamer     25th April 2022 An evaluation carried out by Botswana Diamonds has firmed up the possibility of a diamond mine being developed at the company’s Thorny River property in South Africa’s Limpopo province. The analysis indicates potential opencast options, the London-Aim and Botswana Stock Exchange-listed company... 

Permission from Stelzer via his colleague James Campbell to use this picrtue.
Photo by Botswana Diamonds
Botswana Diamonds MD James Campbell

De Beers invests $2m in Kelp Blue to explore marine carbon reduction solutions

By: Tasneem Bulbulia     22nd April 2022 Diamonds multinational De Beers Group is investing $2-million in Kelp Blue, a start-up focused on growing and managing large-scale giant kelp forests, initially off the Namibian coast. These underwater forests have the potential to safely and permanently lock away vast amounts of carbon dioxide... 

Company showcases capabilities on flagship project

By: Cameron Mackay     22nd April 2022 Mining services provider United Mining Services (UMS) Group is involved in a twin shaft sinking, equipping and infrastructure project for the Karowe diamond mine in Botswana. Owned by Lucara Diamond Corp, Karowe mine is one of the world’s leading producers of large, high-quality Type IIA... 

 Image of a shaft infrastructure project site
SAFETY AND PRODUCTIVITY IMPROVEMENTS UMS has provided early study input and has taken this twin shaft sinking, equipping and infrastructure project to implementation phase

Gem Diamonds reports higher revenue despite lower prices

By: Darren Parker     21st April 2022 LSE-listed diamond producer Gem Diamonds sold 28 461 ct of diamonds during the quarter ended March 31, up from 24 790 ct sold in the quarter ended December 31. It generated revenue of $52.1-million for the quarter, compared with the $50-million generated in the prior quarter, with the average... 

Gem CEO Clifford Elphick
Gem CEO Clifford Elphick

De Beers lifts first-quarter production by 25% y/y

By: Donna Slater     21st April 2022 Diamond miner De Beers increased its total rough diamond production by 25% year-on-year to 8.9-million carats in the first quarter of this year, reflecting an improved operational performance and higher planned levels of production to meet continued strong demand for rough diamonds. However, the... 

President Ramaphosa to deliver keynote address at Mining Indaba 2022

By: Martin Creamer     20th April 2022 President Cyril Ramaphosa will deliver a keynote address at the 2022 Investing in African Mining Indaba, which takes place in Cape Town from May 9 to 12. The attendance of Ramaphosa, who will speak on Tuesday, May 10, signals the continued importance of mining to the South African economy as a... 

Picture supplied.
President Cyril Ramaphosa.

Strong prices, exceptional diamonds sold drive Petra’s revenues higher 

By: Darren Parker     20th April 2022 LSE-listed Petra Diamonds has reported a 33% year-on-year increase in revenue to $140.6-million for the quarter ended March 31 – the third quarter of its 2022 financial year. In an unaudited trading update released on April 20, Petra said the higher revenue was driven by strong prices achieved in... 

Petra CE Richard Duffy
Photo by Creamer Media
Petra CE Richard Duffy

De Beers signs two mineral investment contracts with Angola for north-eastern licence areas

By: Schalk Burger     20th April 2022 Diamond multinational De Beers Group has signed two mineral investment contracts (MICs) with the government of Angola for licence areas in north-eastern Angola. This follows the late 2021 announcement that De Beers had applied to explore in Angola following substantive reforms in the country’s... 

Mining production contracted by 6% y/y in February

By: Darren Parker     14th April 2022 Mining production contracted by a steep 6% year-on-year in February following an upwardly revised acceleration of 1.7% in January. This is the largest contraction recorded since January 2021, when production fell by 7.8%. 

De Beers’ third sales cycle generates $565m in revenue

By: Darren Parker     13th April 2022 Diamond miner De Beers, a subsidiary of diversified miner Anglo American, has announced a provisional rough diamond sales value of $565-million for the third sales cycle of 2022. The value included global sightholder sales and auctions for the cycle. 

De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

BlueRock delivers output improvement despite wet weather

By: Marleny Arnoldi     13th April 2022 Aim-listed BlueRock Diamonds produced 4 643 ct of diamonds at its Kareevlei mine, in South Africa, in the first quarter of this year, despite experiencing persistent wet weather conditions. This was a 32% improvement on the 3 507 ct produced in the first quarter of 2021.  

Diamcor progressing Krone-Endora upgrades

By: Tasneem Bulbulia     13th April 2022 Canadian mining company Diamcor Mining’s gross revenues from tenders and sales held in its fourth fiscal quarter, ended March 31, increased to $1.3-million – a 21% increase over the previous quarter, from its Krone-Endora at Venetia project in South Africa. Total sales during the fourth quarter... 

Gem Diamonds initiates share buyback programme

By: Tasneem Bulbulia     12th April 2022 London-listed Gem Diamonds has initiated a programme to buy back up to $2-million of the company’s ordinary shares. The company has entered into an agreement with Liberum Capital to carry out on-market purchases of its ordinary shares pursuant to the programme. 

Clients planning to close many renewable energy project deals this year – Nedbank CIB  

By: Martin Creamer     11th April 2022 While Africa is blessed with great natural sun and wind resources, it has about 600-million people living without access to electricity, which is one of the biggest impediments to the continent’s economic growth. Renewable energy is available to put an end to this impediment, as it can provide... 

Picture supplied
Nedbank CIB Group Managing Executive Anél Bosman interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.
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