R/€ = 18.7279 Change: 0.0237
R/$ = 17.2250 Change: 0.0351
Au 1928.39 $/oz Change: 0.00
Pt $/oz Change:

Diamonds News

US sanctions Russian miner producing 30% of world’s diamonds

By: Bloomberg     8th April 2022 The US Treasury has extended sanctions to Russian diamond miner Alrosa PJSC, potentially cutting off about 30% of the world’s supply of rough stones. Clients of Alrosa as well as other counterparties must stop all dealings with the state-controlled Russian miner by May 7, according to a license... 

Lucapa advancing Lulo kimberlite sampling

By: Esmarie Iannucci     8th April 2022 Diamond miner Lucapa has completed construction of crushing circuit of the standalone kimberlite bulk sampling plant at its Lulo operation, in Angola. The full stand-alone plant is scheduled for completion and commissioning this quarter, after which, the project’s joint venture partners will be... 

Green finance taxonomy to help investors make green project decisions – law firm 

By: Martin Creamer     5th April 2022 South Africa’s first green finance taxonomy will help investors and financial institutions make more informed decisions on ‘green’ projects, say Webber Wentzel’s Patrick Heron and Joon Chong. Heron and Chong describe the taxonomy, launched by National Treasury last Friday, as an official... 

Pictures supplied
Patrick Heron (left) and Joon Chong.

Zimbabwe mines see $10bn funding shortfall over five years

By: Bloomberg     5th April 2022 Zimbabwe’s mining industry sees a funding shortfall of $10-billion over the next five years, a challenge compounded by erratic power supplies and exchange-rate volatility. While Zimbabwe has the world’s third-biggest reserves of platinum-group metals, plus gold, diamond and chrome mines,... 

Alrosa seeks special licence for Eurobond payment

By: Reuters     5th April 2022 Russian diamond producer Alrosa has asked its trustee to apply to the UK's sanctions regulator for a special licence to allow the company to make coupon payments on its $500-million Eurobond. Alrosa said that UK sanctions currently make it "technically impossible" to pay the coupon due on April... 

BlueRock sold four high-value diamonds in March tender

By: Creamer Media Reporter      5th April 2022 Aim-listed diamond miner BlueRock Diamonds, which owns and operates the Kareevlei diamond mine, in the Kimberley region of South Africa has sold four larger gem-quality diamonds in the March tender. A 6.6ct diamond sold for $63 000, an 8.7ct diamond for $104 000, a 12.7ct diamond for $128 000 and... 

Minerals Council ending century-long relationship with Johannesburg CBD

By: Martin Creamer     4th April 2022 Minerals Council South Africa has begun a new era by moving into modern premises in Rosebank, Johannesburg, and closing a century-long chapter in Johannesburg’s central business district (CBD). The historic Minerals Council building, on Hollard Street– which was constructed in 1921 – will be sold. 

Creamer Media picture.
Photo by Creamer Media
Historic Minerals Council building, on Hollard Street.

Pre-sinking complete at Karowe mine

By: Sabrina Jardim     1st April 2022 Shaft pre-sinking at Canadian-headquartered diamond mining company Lucara’s Karowe mine, in Botswana, was completed at the end of February. “Each shaft is approximately -52 m below collar. The final depth for the ventilation shaft is -730 m below surface, and -767 m below surface for the... 

Image of a stage being lowered into the shaft
HOOK, LINE AND SINKER Lucara has completed shaft pre-sinking on its Karowe mine

BlueRock raises £2.1m to implement new mining plan at Kareevlei

By: Creamer Media Reporter      31st March 2022 South African diamond miner BlueRock Diamonds, which is listed on the London Aim and operates the Kareevlei mine, in Kimberley, in the Northern Cape, has raised £2.1-million through the placing of six-million shares at 35p a share. The net proceeds will be used to provide additional working... 

Tsodilo eyes Trans-Zambezi Railway extension for ore transport benefits

By: Donna Slater     28th March 2022 Diamond and metals explorer Tsodilo Resources is enthused about the completion of the final feasibility study (FFS) for the Trans-Zambezi Railway extension project between the towns of Grootfontein, Rundu and Katima Mulilo in Namibia. Tsodilo chairperson and CEO James Bruchs says the proposed... 

Green hydrogen energy supply to local communities envisaged by Anglo 

By: Martin Creamer     28th March 2022 The green hydrogen footprint being developed by Anglo American could be extended to provide low-cost and efficient energy to local communities. Anglo, which is advancing towards using green hydrogen to replace diesel in the huge haul truck it is building at Anglo American Platinum’s Mogalakwena... 

Creamer Media picture taken at South Africa Investment Conference
Photo by Creamer Media's Donna Slater
Anglo American CEO Mark Cutifani.

Lucapa reports 11% increase in carats in situ at Lulo

By: Darren Parker     28th March 2022 Following alluvial exploration activities undertaken in 2021, ASX-listed Lucapa Diamond Company and its partners have increased the Angola-based Lulo mine’s diamond resource in situ carats by 11%, from 135 900 ct as at December 31, 2020, to 151 040 ct at December 31, 2021, after accounting for... 

South African white diamond could fetch more than R400m on auction 

By: Bloomberg     25th March 2022 The largest white diamond ever to come to auction will hit the block at Christie’s in Geneva on May 11. The 228-carat, pear-shaped diamond carries a presale estimate of $20 million to $30 million (~R434 million). The stone, which is about the size of a chicken’s egg, was mined about 20 years ago... 

Russia diamond supply squeeze may benefit Zimbabwe miner’s gems

By: Bloomberg     22nd March 2022 Zimbabwe’s biggest rough diamonds miner sees Russia’s invasion of Ukraine triggering “far-reaching consequences” for the global gem industry and possibly lifting demand for its own diamonds. Russia’s Alrosa is the world’s biggest diamond producer by volume at 30% and the slightest disruption to... 

Parliaments must act swiftly to reduce climate change – Mapisa-Nqakula  

By: Martin Creamer     22nd March 2022 National Assembly speaker Nosiviwe Mapisa-Nqakula on Monday urged heads of the world's Parliaments gathering at the 144th plenary assembly of the Inter-Parliamentary Union to undertake all necessary efforts to deal with climate change through oversight and the constitutional powers of the... 

South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula
South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula

Debmarine Namibia inaugurates Benguela Gem diamond recovery vessel 

By: Tasneem Bulbulia     18th March 2022 Diamond mining company Debmarine Namibia on March 18 officially inaugurated its latest diamond recovery vessel, christened on the day as the Benguela Gem (previously the AMV3), at the Port of Walvis Bay, Namibia. Debmarine Namibia is a joint venture marine diamond and prospecting company owned by... 

An image showing the name Debmarine's Benguela Gem diamond recovery vessel being unveiled
Photo by Creamer Media's Tasneem Bulbulia
Benguela Gem name unveiling

Now’s the time for full energy freedom, says green hydrogen stalwart Andrew Forrest 

By: Martin Creamer     17th March 2022 Let’s give energy sovereignty to the world. Renewable energy is everywhere. Every country can produce it. Now is the time to capture it, and have full energy freedom, enthused Fortescue Metals Group nonexecutive chairperson Andrew Forrest, while being interviewed by CNN anchor Christiane... 

Creamer Media screen shot.
Photo by Creamer Media
Fortescue Metals Group nonexecutive chairperson Andrew Forrest (right), being interviewed by CNN anchor Christiane Amanpour.

Diamond market recovery contributes to good cash flow, earnings for Gem

By: Marleny Arnoldi     17th March 2022 London-listed Gem Diamonds saw continuing recovery of the diamond market in 2021, as evidenced by the robust prices achieved for its large, high-value diamonds and smaller diamonds alike. The company ended the 2021 financial year on solid financial footing thanks to positive cash flows.  

Gem Diamonds' 367 ct Letseng Princess diamond
Gem Diamonds' 367 ct Letseng Princess diamond

Dubai, Botswana organisations partner to promote diamond trade

By: Darren Parker     15th March 2022 United Arab Emirates (UAE) government organisation the Dubai Multi Commodities Centre (DMCC) has signed a memorandum of understanding (MoU) with Botswana diamond marketing organisation Okavango Diamond Company (ODC). Under the terms of the MoU, the two parties will work together to promote the... 

DMCC and ODC sign MoU
The DMCC and ODC sign the MoU

De Beers reassures market its diamonds do not come from Russia

By: Donna Slater     15th March 2022 Diamond major De Beers is encouraging retailers to “buy with confidence” by engaging with their suppliers to understand the origin of their diamonds, following an executive order by US President Joe Biden banning the importation of Russia-sourced diamonds into the US. Biden made the move as part... 

De Beers achieves solid revenues in second sales cycle of the year

By: Marleny Arnoldi     9th March 2022 Diamond miner De Beers has earned revenue of $650-million from its second sales cycle this year. This follows the $660-million in revenue earned in the first cycle of the year and is an improvement on the $550-million of revenue earned in the second sales cycle of 2021.  

De Beers extends partnership with WomEng for three years

By: Donna Slater     8th March 2022 Diamond miner De Beers Group has extended its partnership with female-empowering social enterprise WomEng for a further three years, expanding the reach to cover all four of the countries – South Africa, Botswana, Namibia and Canada – where De Beers mines diamonds. The announcement was made on... 

Lucapa raises cash for diamond hunt

By: Esmarie Iannucci     8th March 2022 Diamond miner Lucapa Diamond Company on Tuesday announced plans for a A$12.5-million capital raising to fund accelerated exploration programmes in order to take advantage of higher diamond prices. The ASX-listed miner on Tuesday said that it had received firm commitments from institutional and... 

Petra Diamonds achieves strong results in latest tender

By: Darren Parker     7th March 2022 London-listed Petra Diamonds sold 735 222 ct for $140.6-million during Tender 4 of the 2022 financial year, the company said on March 7. For the 2022 financial year so far, the company has sold more than 2.3-million carats for $405.3-million. 

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

BlueRock sells four diamonds for greater than $100 000 each

By: Donna Slater     4th March 2022 Aim-listed diamond producer BlueRock Diamonds, which owns and operates the Kareevlei diamond mine, in Kimberley, South Africa, sold four gem-quality diamonds in the February tender for $460 000, thereby taking the total average price to $638/ct – 37% higher than it was in 2021. The average... 

Kimberlite research could help reverse emissions

By: Halima Frost     4th March 2022 Global diamond corporation Alrosa Group is working with Russia’s leading research centres to study the carbon dioxide (CO2) absorption capabilities of kimberlite to determine whether it could eventually be used to completely offset the company’s greenhouse-gas emissions. The results from the... 

A pile of kimberlite stones which are the general ore from which diamonds are mined
ABSORBING RESEARCH Alrosa's Research has shown that kimberlite ore absorbs emissions when subject to standard mining operations which use water in the processes

Magical future ahead for Merlin - Lucapa

By: Esmarie Iannucci     3rd March 2022 Diamond miner Lucapa has updated the scoping study for its Merlin diamond project, in the Northern Territory, after the price of rough diamonds increased by some 42% over the last three months. Based on the production of 2.1-million carats over a 14-year operational life, the updated scoping... 

Stronger rough diamond prices prompt Diamcor to fast-track some Phase 2 expansion projects

By: Creamer Media Reporter      2nd March 2022 TSX-V-listed Diamcor Mining plans plans to accelerate certain portions of the planned Phase 2 expansion projects at its Krone-Endora at Venetia project, in Limpopo, South Africa. “Given the current strength of rough diamonds prices and the potential for additional shortages moving forward, we... 

ESG slowing down as energy transition highlights mining as indispensable – RMF  

By: Martin Creamer     2nd March 2022 The energy transition is highlighting mining as an indispensable industry, said Responsible Mining Foundation (RMF) CEO Hélène Piaget in opening a webinar on 'Responsible Mining Index (RMI) Report 2022', which reports a slowdown in economic, environmental, social and governance (ESG). “Yet there... 

Creamer Media screenshot.
Responsible Mining Foundation report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Resources Watch  

2nd March 2022 This week: Platinum group metals may also play role in batteries; Kumba CEO gives firm thumbs up to continued exploration in prospective Northern Cape; and, De Beers Group posts stunning financial results 

Resources Watch
Resources Watch

WFDB implores diamond industry to adopt responsible business practice guidelines

By: Marleny Arnoldi     1st March 2022 The World Federation of Diamond Bourses (WFDB) concluded a successful President’s Meeting in Dubai last week, during which the organisation adopted a resolution in support of social responsibility, transparency, compliance and full disclosure. The keynote address was delivered by Angola... 

Uncut diamonds from southern Africa and Canada

Diamcor lifts fourth-quarter sales by 25%

By: Donna Slater     1st March 2022 TSX-V-listed diamond miner Diamcor Mining, which operates the Krone-Endora at Venetia mine in Limpopo, South Africa, tendered and sold 25% more rough diamonds, at 5 441.88 ct, in the fourth quarter ended December 31, 2021, compared with the third quarter. This generated $1.07-million in revenue... 

Lucapa achieves record revenue in 2021

By: Marleny Arnoldi     28th February 2022 ASX-listed Lucapa Diamond Company achieved A$22.3-million in attributable earnings before interest, taxes, depreciation and amortisation for the year ended December 31, 2021. In a trading statement ahead of the release of its results towards the end of March, the company reported that it had... 

Petra generates $110m so far in fourth tender cycle

By: Marleny Arnoldi     25th February 2022 London-listed Petra Diamonds says it has successfully closed sales for about 80% of the volume of diamonds on offer during its fourth tender cycle for its 2022 financial year ending June 30. About 589 100 ct have been sold for $110-million, at an average price of $188/ct.  

Petra Diamonds' Cullinan mine
Petra Diamonds' Cullinan mine

Strong diamond market pushes Lucara's full-year revenue, Ebitda higher 

By: Chanel de Bruyn     25th February 2022 Vancouver-headquartered Lucara Diamond Corporation achieved a more than five-fold year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $102.5-million for the financial year ended December 31. That compares with the adjusted Ebitda of... 

The Karowe mine
The Karowe mine

Investment into battery minerals increases

By: Anna Moross     25th February 2022 Namibia has consistently maintained its position as one of sub-Saharan Africa’s primary mining investment destinations, with increased investment in minerals such as cobalt, lithium and co 

An image of Warren Beech, CEO of Beech Veltman
WARREN BEECH Namibia’s increased investment in battery minerals is attributable to its extensive deposits and its stable and mature mining subsectors

Great to see such healthy demand for this great industry – De Beers  

By: Martin Creamer     24th February 2022 It's great to see such a healthy demand for this great industry, De Beers Group CFO Sarah Kuijlaars said after posting a set of stunning financial results for the world’s leading diamond company by value. Underlying 2021 earnings before tax, depreciation and amortisation soared to $1 100-million... 

Supplied picture
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly's Martin Creamer.

Petra reduces debt further, posts 87% growth in interim Ebitda

By: Marleny Arnoldi     22nd February 2022 The first half of the 2022 financial year has set London-listed Petra Diamonds in good stead to maintain profitability and cash flow, as well as meet operational guidance for the full-year. In the six months ended December 31, 2021, Petra grew its adjusted earnings before interest, taxes,... 

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