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Diamonds News
Exploration is priority, says Mineral Resources Minister Gwede Mantashe 
By: Martin Creamer 3rd November 2020 South Africa should be an exploration site that contributes to gross domestic product growth and employment creation. “Exploration is the way to go and a priority,” Mineral Resources and Energy Minister Gwede Mantashe told the 2020 Junior Indaba in his keynote address on Tuesday. (Also watch... →
Federation cautiously optimistic for holiday season
By: Tasneem Bulbulia 3rd November 2020 The diamond industry is hoping for a strong holiday season to help it regain some of the major losses of this year, and put it back on track for growth in 2021; however, the Covid-19 crisis is still ongoing and its health and economic effects will be felt in holiday purchases, especially in the... →
End of an era as Argyle delivers its final production
By: Esmarie Iannucci 3rd November 2020 Mining major Rio Tinto has ceased mining activities at its Argyle diamond mine, in the Kimberley region of Western Australia, after 37 years of operation. “Fifty years ago there were very few people who believed there were diamonds in Australia – even fewer could have foreseen how the Argyle... →
Flow-through must not only incentivise exploration but also market participation – Miller
By: Martin Creamer 2nd November 2020 A flow-through share scheme tax incentive, currently under consideration for South Africa, must serve to incentivise not only exploration but also public listed market development and market participation by a diversity of investors. Mining supply sales consultancy AmaranthCX director Paul Miller... →
Mining supply sales consultancy AmaranthCX director Paul Miller
Botswana rough diamond exports down 66% in third quarter
By: Reuters 30th October 2020 Botswana's rough diamond exports plunged around 66% in the third quarter compared with the same period last year, data showed on Friday, as the coronavirus pandemic hit demand and global travel restrictions impacted trading. Botswana closed its borders in March to curb the spread of the virus,... →
Gem says higher prices demonstrate improved demand for Letšeng diamonds
By: Donna Slater 28th October 2020 LSE-listed diamond miner Gem Diamonds has sold 70 559 ct worth of diamonds for the year to date, achieving an average price of $1 908/ct. During the third quarter, the group also unearthed five diamonds greater than 100 ct, bringing the total for the year to date to 13. →
Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration
By: Martin Creamer 27th October 2020 A flow-through share model has been drawn up with the help of top firms to stimulate badly neglected mining exploration in South Africa, Minerals Council South Africa junior and emerging miners leadership forum chairperson Errol Smart said on Tuesday. Speaking to Mining Weekly in a Zoom... →
Petra cautiously optimistic about improved diamond prices
By: Tasneem Bulbulia 27th October 2020 Diamond miner Petra Diamonds continued to perform well during the three months to September 30, with record carat production at the Cullinan mine in South Africa during August and September, an “excellent achievement” given the Covid-19 mitigation measures, which now form part of the group’s... →
Rio's 'special' diamonds up for tender
26th October 2020 Diversified miner Rio Tinto has announced that a selection of rough diamonds from the company’s Canadian and Australian mines will be tendered to diamond specialists in October and November. Headlining Rio’s forthcoming “specials” tender, which showcases rough diamonds greater than 10.8 ct, is... →
Rio Tinto asks court to OK sale of partner's diamonds in Canada mine
By: Reuters 26th October 2020 Global miner Rio Tinto is seeking court approval to sell its partner's share of diamonds from a mine in Canada's Northwest Territories, a filing showed, hoping to recover around C$120-million plus legal fees and other costs. Rio owns 60% of Diavik Diamond Mines Inc (DDMI) and says it is owed... →
Diamond manufacturers have a chance to make profit – Rapaport
By: Mariaan Webb 23rd October 2020 The coronavirus pandemic, which hit the diamond industry hard in the first half of 2020, has presented an opportunity for squeezed diamond manufacturers to turn things around and start making profit. Squeezed by high rough diamond costs and declining polished prices, manufacturers and dealers... →
De Beers says rough diamond demand is ticking up
By: Marleny Arnoldi 22nd October 2020 Diamond miner De Beers' rough diamond production decreased by 4% year-on-year to 7.2-million carats in the third quarter of the year as a result of planned reductions in production to match lower demand for rough diamonds in the market, amid Covid-19. Specifically, production from the company’s... →
Covid has highlighted the value of operating remotely – mining editor
By: Martin Creamer 22nd October 2020 The extraction of data from machinery to improve decision-making is a key benefit of the digital mine and has changed the way that mines manage their assets and perform machine maintenance, Australia Mining managing editor Ben Creagh said on Wednesday. Creagh was speaking during a virtual... →
Petra to hold special tender to sell five blue diamonds
By: Marleny Arnoldi 21st October 2020 London-listed Petra Diamonds has launched a special tender process for its Letlapa Tala Collection, which comprises five blue diamonds of significant colour, clarity, size and heritage. The diamonds were recovered from the company’s Cullinan mine, in Gauteng. →
Diamcor closes first tranche of C$3.5m convertible loan
By: Creamer Media Reporter 20th October 2020 TSX-V-listed Diamcor Mining has closed the first tranche of a C$3.5-million convertible loan financing. The initial tranche included subscriptions from five investors for aggregate gross proceeds of C$954 500. →
Botswana sees 7.7 % growth in 2021 on diamond industry recovery
By: Reuters 20th October 2020 Botswana's economy will rebound and grow 7.7% in 2021 from a 8.9% contraction forecast this year, on the back of improved sentiment in the global diamond industry, the finance minister said on Tuesday. Botswana's economy shrank by 24% in the second quarter of 2020 as coronavirus lockdowns at home... →
Petra's shares fall as it announces proposed restructuring
By: Creamer Media Reporter 20th October 2020 The share price of London-listed Petra Diamonds fell by nearly 10% on Tuesday morning, as it announced that it had reached an in-principle agreement with its lenders with respect to a long-term solution for the recapitalisation of the group and that it was no longer planning to sell the company... →
Petra CEO Richard Duffy
BlueRock sells 2 900 ct diamond parcel
By: Tasneem Bulbulia 19th October 2020 Aim-listed BlueRock Diamonds has sold 2 900 ct of diamonds recovered from its Kareevlei mine, in the Kimberley region of South Africa, at an average price of $300/ct for an aggregate consideration of $870 165. “This is the third successful private sale conducted through an agent in South Africa... →
Russian diamond producer Alrosa's third-quarter output down 24%
By: Reuters 16th October 2020 Russian diamond producer Alrosa's third-quarter production fell 24% year on year but was up 62% from the previous quarter to 9.2-million carats, it said on Friday. Alrosa, the world's largest producer of rough diamonds, said coronavirus-hit demand started to recover in August but it added a... →
Prelim results bode well
16th October 2020 Aim- and Botswana Stock Exchange- (BSE-) listed diamond explorer Botswana Diamonds (BOD), last month announced the preliminary results of the next phase of its drilling campaign on the Marsfontein project. “The objective of this limited exercise was to test an historical anomaly identified as... →
Mining committed to doing all it takes to improve worker health – Matlala
By: Martin Creamer 15th October 2020 Minerals Council South Africa VP and Masoyise Health Programme chairperson Zanele Matlala on Thursday committed the South African mining industry to doing all it takes to ensure that employee lives are saved and health is improved. Speaking at a global virtual health seminar to reprioritise... →
Minerals Council South Africa VP and Masoyise Health Programme chairperson Zanele Matlala
Lucapa considering Mothae expansion
By: Esmarie Iannucci 15th October 2020 Diamond miner Lucapa Diamond Company has reported a 280% increase in the indicated resource at its Mothae kimberlite diamond mine, in Lesotho. The project is now estimated to host a Joint Ore Reserves Committee- (Jorc-) compliant indicated resource of some 9.2-million tonnes, containing around... →
India says slump in diamond exports is much worse than 2008
By: Bloomberg 14th October 2020 Diamond exports from India are set to tumble by as much as a quarter this year as the pandemic crushes demand and breaks supply chains. Overseas sales of cut and polished diamonds may slump 20% to 25% in the year ending March from $18.66-billion last year, according to Colin Shah, chairman of... →
De Beers records $467m worth of rough diamond sales in eight sales cycle
By: Donna Slater 14th October 2020 Diversified miner Anglo American reports that its diamond mining subsidiary, the De Beers Group, recorded $467-million worth of provisional rough diamond sales, both through global sightholder sales and auctions, during the eight sales cycle of the year. CEO Bruce Cleaver says the company... →
Record third quarter for diamond miner BlueRock
By: Donna Slater 13th October 2020 Aim-listed diamond junior BlueRock Diamonds has reported strong operational third-quarter results, setting records for three of its main performance indicators: production, carats produced and grade. Despite still using its old plant, the operator of the Kareevlei diamond mine near Kimberley, in... →
Alrosa sees diamond sales stabilising in fourth quarter
By: Reuters 12th October 2020 Russian State-controlled diamond producer Alrosa expects its fourth-quarter sales to stabilise year on year as demand for precious stones is recovering, its CEO, told a meeting with President Vladimir Putin on Monday. Alrosa, the world's largest producer of rough diamonds, has been hit by the... →
BOD prioritises four diamondiferous alluvial targets for drilling
By: Marleny Arnoldi 12th October 2020 Aim-listed Botswana Diamonds (BOD) has started with a precision ground geophysics programme to define potential kimberlite pipes on its Marsfontein and Thorny River prospects, in Botswana. The company is focusing on four high-potential targets to finalise early drilling. The four targets... →
De Beers invests further in growing diamond beneficiators
By: Marleny Arnoldi 9th October 2020 Diamond miner De Beers Group has welcomed five diamond polishing and jewellery manufacturing companies to its Enterprise Development Project for Diamond Beneficiators. This project, launched by De Beers in 2016, aims to facilitate the growth and transformation of diamond beneficiation in South... →
Processing plant progressing well amid slowdown
By: Halima Frost 9th October 2020 Despite Covid-19 having an adverse effect on the greenfield development of a mine and metallurgical plant, in Sierra Leone, local consulting firm METC Engineering director Dr Steve Cathey says the project is progressing well. He explains that construction on the Tongo diamond project – located in... →
Freight forwarder growing reach in West Africa
By: Halima Frost 9th October 2020 Following the successful logistics for a mine in Sierra Leone, deugro, a highly-specialized expert in freight forwarding and an independent company of the deugro group, intends to further expand its offering in West Africa. “We are excited and look forward to engaging with more clients in this... →
Mining majors must convince investors of need to replace value – Sir Mick Davis
By: Martin Creamer 8th October 2020 Major mining companies need to convince investors of the crucial need to replace the value that they are taking out of the ground, mining luminary Sir Mick Davis said on Thursday. “Every single day that they take something out of the ground, that value disappears forever, and unless you do... →
Lucapa restarts Mothae
By: Esmarie Iannucci 8th October 2020 Diamond miner Lucapa has restarted scaled operations at its Mothae kimberlite diamond mine, in Lesotho. The operation has been on care and maintenance since March this year, since lockdown and isolation measures were enforced by the South Africa government, to prevent the spread of Covid-19. →
Flow-through must form part of overall exploration strategy – Minerals Council
By: Martin Creamer 7th October 2020 The introduction of a flow-through share scheme must form part of a full suite and package of measures tailored for a comprehensive exploration strategy for South Africa, Minerals Council South Africa CEO Roger Baxter said on Wednesday. Speaking during question time on day one of the Joburg... →
Petra, NUM conclude one-year wage deal
By: Creamer Media Reporter 6th October 2020 Diamond miner Petra Diamonds reports that it has concluded a one-year wage agreement with the National Union of Mineworkers (NUM). This applies to its South African operations for the financial year to June 30, 2021. The Company will make a once-off, ex gratia payment at the end of November 2020... →
Regulations tailored to alluvial diamonds will reward S Africa with jobs – Sadpo
By: Martin Creamer 6th October 2020 South Africa’s one-size-fits-all mining legislation is losing vital jobs for the country in the job-intensive alluvial diamonds space that requires regulations tailored to junior mining to survive, South African Diamond Producers Organisation (Sadpo) reiterated on Monday. Because there are so... →
BlueRock Diamonds issues shares
By: Tasneem Bulbulia 5th October 2020 Aim-listed BlueRock Diamonds has issued 21 935 ordinary shares at a price of 54.4p a share, to part satisfy the payment of interest and repayment premium, in accordance with the original loan agreement between former BlueRock CEO Adam Waugh and the company. The capital amount outstanding on the... →
NUM prepares for strikes at diamond, coal mines
By: Marleny Arnoldi 2nd October 2020 The National Union of Mineworkers (NUM) has warned it will embark on strikes at diamond miners De Beers and Petra Diamonds' operations in South Africa, and at diversified miner Exxaro Resources’ coal operations. This followed after the parties were unable to reach a wage settlement agreement at... →
Cabinless, emissionless vehicle foretelling underground’s autonomous future
By: Martin Creamer 30th September 2020 Mining Weekly on Wednesday watched a cabinless emission-free next-generation mining vehicle autonomously load, haul and dump in an underground mine, without a human in sight. The cabinless design places emphasis on the extent to which traditional human operation at the rockface is becoming a... →
Sandvik global product line manager automation David Hallett
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