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Diamonds News
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,... →
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... →
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... →
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,... →
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... →
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. →
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%... →
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... →
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.
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
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
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.
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... →
Gemfields warns of bleak second-half
By: Tasneem Bulbulia 29th July 2020 Gemstone miner Gemfields has warned of bleak conditions for the remainder of this year, as the spread of Covid-19 continues to impact on the group. “Conditions remain very challenging for Gemfields and for the wider gemstone sector. The effect of travel restrictions, quarantine periods and... →
Alrosa partners with US retailer to launch responsibly-created jewellery collection
By: Donna Slater 28th July 2020 Responsibly sourced fine jewellery retailer Brilliant Earth has partnered with diamond producer Alrosa’s social initiative Diamonds That Care, to unveil a new limited-edition jewellery collection. The Brilliant Earth and Diamonds That Care exclusive collection will be available from July 28 to... →
Junior diamond miners can again be catalysts for mining sector growth, says Sadpo
By: Marleny Arnoldi 28th July 2020 South Africa lacks a healthy junior exploration and mining sector, when it could be a catalyst for growth and transformation in the sector, says the South African Diamond Producers Organisation (Sadpo). For example, the discovery of alluvial diamonds in the unique secondary deposits of the... →
De Beers rethinks business after diamond collapse exposes cracks
By: Bloomberg 25th July 2020 De Beers is considering ways to restructure mines, expand in jewelry and overhaul diamond sales, as the world’s biggest and oldest producer rethinks its entire business in an industry left paralyzed by the pandemic. The company founded by British imperialist Cecil Rhodes in the late 1800s was... →
Tsodilo Resources and TBM enter into royalty agreement
By: Donna Slater 23rd July 2020 TSX-V-listed diamond and metals explorer Tsodilo Resources has reached an agreement to grant private Botswana-based alternative investment firm TBM royalties on its wholly-owned Botswana subsidiary Gcwihaba Resources’ metal projects for $500 000. Gcwihaba’s metal licenses include those for base... →
Covid-19 takes its toll on Petra's production, revenues
By: Donna Slater 23rd July 2020 London-listed diamond miner Petra Diamonds has reported a 7% year-on-year reduction in production, from 3.87-million carats in the 2019 financial year, to 3.59-million carats in the financial year ended June 30, 2020. Production was severely disrupted by the lockdown implemented in South Africa... →
The underground operation of Petra Diamonds' Cullinan mine
Alrosa, ZCDC JV starts prospecting for diamonds in Zimbabwe
By: Tasneem Bulbulia 21st July 2020 Alrosa Zimbabwe (Alrosa Zim), a joint venture (JV) between Russian diamond miner Alrosa and Zimbabwe State-owned miner Zimbabwe Consolidated Diamond Company (ZCDC), has started prospecting and preliminary exploration works for primary diamond deposits. After getting special grants from the... →
Allan reinforces need for a panel to oversee Alexkor's turnaround
By: Donna Slater 20th July 2020 In response to a letter from the Equitable Access Campaign (EAC), published by Mining Weekly on June 26 – which highlighted the plight of small-scale marine diamond miners operating off the coast of Alexander Bay – Sable Metals & Minerals CEO James Allan reiterates that a panel should be... →
Petra sells Botswana diamond exploration business to Botswana Diamonds
By: Tasneem Bulbulia 20th July 2020 LSE-listed Petra Diamonds is selling its exploration assets in Botswana, held through Sekaka Diamonds, to Aim-listed Botswana Diamonds (BOD) for $300 000 and a 5% royalty on future revenues. The exploration assets include the KX36 diamond discovery, along with two adjacent prospecting licences... →
‘Historic dumps’ do not appear to be MPRDA regulated – law firm
By: Martin Creamer 20th July 2020 South Africa’s ‘historic dumps’ – mine dumps created prior to the promulgation of the Minerals and Petroleum Resources Development Act (MPRDA) which took effect in 2004 – do not appear to be regulated under the MPRDA, and the common law owners of such dumps do not require a right under the MPRDA... →
Diamond industry among those hardest hit by pandemic
By: Simone Liedtke 16th July 2020 The global diamond industry has been particularly hard hit by the coronavirus pandemic, which has wreaked havoc on the health, social fabric and economies of the world, laments World Federation of Diamond Bourses (WFDB) acting president Yoram Dvash. With its main markets spread from Asia to North... →
Anglo's second-quarter copper, nickel output rises, while diamonds, platinum output falls
By: Donna Slater 16th July 2020 Diversified miner Anglo American has acted with resilience in the face of the global Covid-19 pandemic, which has affected many of its operations in different countries, with some commodities being affected more significantly than others, CEO Mark Cutifani says. "Our comprehensive response... →
Low rough diamond demand hits De Beers hard in second quarter
By: Marleny Arnoldi 16th July 2020 Diamond miner De Beers reported a 54% year-on-year decrease in production to 3.5-million carats in the second quarter of the year. This was owing to the Covid-19 lockdown measures in South Africa, Namibia, Botswana and Canada where the miner operates. →
BlueRock raises £1.2m for Kareevlei expansion
By: Simone Liedtke 16th July 2020 Aim-listed BlueRock Diamonds, which owns and operates the Kareevlei diamond mine in Kimberley, South Africa, has conditionally raised gross proceeds of about £1.2-million in an oversubscribed placing and subscription of more than 3.5-million new ordinary shares. Three of the company’s directors... →
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