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Diamonds News

Diamond sales collapse as China’s luxury shoppers stay at home

By: Bloomberg     5th March 2020 As coronavirus cripples the Chinese economy, hardly anyone there is buying diamonds. Diamond sales in China have collapsed since the outbreak of the virus as shoppers stay home. De Beers, the biggest diamond miner, said sales fell by more than a third last week, from its first sale of the year in... 

De Beers’ rough diamonds sales fall to $355m

By: Nadine James     4th March 2020 Diamond miner De Beers earned $355-million from the sale of rough diamonds in its second sales cycle of this year. CEO Bruce Cleaver on Wednesday noted that, in response to improved demand for rough diamonds during the first sales cycle, the company, recognised the impact of the Covid-19, or... 

Lucapa raises funds for kimberlite hunt

By: Esmarie Iannucci     4th March 2020 Diamond miner Lucapa Diamond Company will raise some A$2.8-million in a share placement to sophisticated and professional investors to advance exploration work at its Lulo kimberlite project, in Angola. The company on Wednesday said that it would issue more than 25.8-million shares, at a price... 

World Diamond Council lauds regional programme of Mano River Union

By: Marleny Arnoldi     3rd March 2020 The World Diamond Council (WDC) strongly endorses the regional approach taken by the Mano River Union (MRU), in West Africa, to reinforce the effectiveness of the Kimberley Process Certification Scheme (KPCS). The MRU held a three-day workshop in Sierra Leone last week to discussed a programme... 

De Beers starts outlining plans to help its struggling buyers

By: Bloomberg     2nd March 2020 After watching diamond sales plunge in 2019 as a crisis engulfed the industry, De Beers is taking action to help its struggling buyers. The middlemen who cut, polish and trade the world’s gems were at the center of a disastrous year for the diamond industry last year, after a glut of both rough... 

Alrosa considers going underground at Jubilee

By: Tasneem Bulbulia     2nd March 2020 Russian miner Alrosa’s investment committee has approved financing for preliminary engineering studies at the Jubilee diamond mine, to provide up-to-date information to decide on the construction of an underground mine. The Jubilee pipe forms part of the Aikhal division and is currently being... 

Angolan diamond production up, but revenues increase at significantly slower rate

By: Rebecca Campbell     28th February 2020 Last year Angola sold just over 9.44-million carats of diamonds, earning $1.299-billion, the National Diamond Commercialisation Company of Angola (Empresa Nacional de Comercialização de Angola) – better known as Sodiam – has reported. This represented a year-on-year increase of 12.3% in... 

Newfield on track to deliver first diamonds later this year

By: Simone Liedtke     27th February 2020 ASX-listed Newfield Resources is on track to produce the first diamonds from its Tongo diamond mine, in Sierra Leone, in the fourth quarter of this year. The miner on Thursday also said it would soon start the drilling and blasting of the underground decline at Tongo, following the arrival of the... 

Anglo welcomes Mboweni’s move to facilitate cross-border transactions

By: Simone Liedtke     27th February 2020 Diversified miner Anglo American has welcomed the number of measures to facilitate cross-border financial transactions, in support of trade and investment, announced by South Africa’s Finance Minister Tito Mboweni during his National Budget Speech on Wednesday. In a statement on Thursday, Anglo... 

Diamcor starts surface diamond mining with heavy equipment in Limpopo

By: Marleny Arnoldi     26th February 2020 TSX-V-listed junior diamond miner Diamcor Mining has started using a new, larger fleet of Caterpillar heavy mining equipment at its Krone-Endora at Venetia project, based next to diamond miner De Beers’ Venetia mine, in Limpopo. Diamcor started off by processing tailings material at... 

Diamcor starts surface diamond mining with heavy equipment in Limpopo

Russia to push for lifting limits on CAR diamond exports

By: Reuters     26th February 2020 Russia, as this year's chair of an international body tackling the trade in conflict diamonds, will work to lift restrictions on the export of diamonds from the Central African Republic (CAR), deputy finance minister Alexei Moiseev said on Tuesday. A total ban on diamond exports from CAR was... 

Firestone lowers guidance for FY20, plans to delist from Aim

By: Marleny Arnoldi     25th February 2020 Aim-listed Firestone Diamonds’ share price on the LSE fell by more than 68% on Tuesday after it announced that it planned to delist from the Aim. A general meeting will be convened on March 13 for shareholders to vote on the proposed delisting. Seventy-five per cent of shareholders will need to... 

Firestone lowers guidance for FY20, plans to delist from Aim
The Liqhobong mine, in Lesotho

More diamond sales for Lucapa

By: Esmarie Iannucci     25th February 2020 Diamond miner Lucapa has generated A$2.84-mllion in revenue from the sale of 1 223 ct of diamonds from its Lulo mine, in Angola. The ASX-listed company noted that its latest Lulo parcel had achieved an average price of A$2 324/ct. 

Botswana Diamonds intersects kimberlite at Marsfontein

By: Tasneem Bulbulia     24th February 2020 Dual-listed Botswana Diamonds on Monday announced that kimberlite, identified by visual inspection, had been intersected at shallow depth in two out of three holes drilled at the Marsfontein project in Limpopo, South Africa. The company has been undertaking a percussion drilling campaign on... 

Gemfields’ first emerald auction of 2020 hampered by coronavirus

24th February 2020 While the results of an auction of predominantly commercial-quality rough emeralds held in Lusaka, Zambia, from February 18 to 21, had been in line prior auctions of commercial-quality emeralds, and demonstrate a stable underlying market, there was evident fallout of Covid-19, or the coronavirus,... 

Lucara’s strong 2019 performance positions company for further growth  

By: Tasneem Bulbulia     24th February 2020 Vancouver-headquartered Lucara Diamond Corp achieved strong operating results for the year ended December 31, a reflection of the company’s continued focus on safe, reliable operations, president and CEO Eira Thomas said in a statement. She indicated that the company’s strategy had yielded... 

Lucara’s strong 2019 performance positions company for further growth

Lucapa uncovers more potential for fancy diamonds from Lulo project

By: Marleny Arnoldi     21st February 2020 ASX-listed Lucapa Diamond Company says further analysis of diamonds recovered at its Lulo project, in Angola, has confirmed the presence of rare Type IIa gems and light fancy yellow diamonds. This follows after the company earlier this week announced the recovery of 45 diamonds weighing 30.3 ct... 

Policy review could improve investor confidence

By: Darren Parker     21st February 2020 Mining consulting firm The MSA Group is hoping that the review of Namibia’s Minerals (Prospecting and Mining) Act will enhance the country’s “friendliness” toward mining investors. The MSA Group principal consultant Mike Robertson says the 1992 legislation has been under review since 2018.... 

Policy review could improve investor confidence
DRIVING INVESTMENT Namibia’s reliable transport infrastructure, despite the remote nature of many sites of mineral interest, is attractive to investors

Namibian policy uncertainty a concern

By: Darren Parker     21st February 2020 A key issue creating uncertainty among Namibia’s mining investors is the non-deductibility of royalties and export levies for non-diamond mining, which was announced during the Namibian 2019/20 Budget Speech by Namibian Finance Minister Calle Schlettwein, presented to Namibia’s Parliament in... 

Namibian policy uncertainty a concern
VESTON MALANGO The effect of the non-deductibility of royalties is double taxation, which erodes project viability for new mines or planned expansion of activities

FutureSmart, P101 earn Anglo $4.7bn

By: Martin Creamer     20th February 2020 The smart technology and efficiency enhancing programmes of diversified mining company Anglo American have netted the company $4.7-billion so far. FutureSmart Mining (TM) programmes deliver additional value from equipment and processes and P101 uplifts the performance of existing operating... 

FutureSmart, P101 earn Anglo $4.7bn
Photo by Anglo American
Playing precisely to the demand for a cleaner, greener and more sustainable world.

Anglo’s earnings margins poised to strengthen – Cutifani 

By: Martin Creamer     20th February 2020 The strong 2019 earnings margins of Anglo American are poised to strengthen further in 2020, CEO Mark Cutifani said on Thursday. The 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda) margins of the London- and Johannesburg-listed diversified mining company ranged from... 

Anglo’s earnings margins poised to strengthen – Cutifani
Photo by Anglo American
Anglo American calculates that these earnings margins will increase in 2020.

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani 

By: Martin Creamer     20th February 2020 Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company. Hydrogen fuel cell... 

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani
Photo by Anglo American
Four-part forward thrust.

Ethical engagement rings that are truly eco-friendly, guilt-free

By: Bloomberg     20th February 2020 When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the Internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced.  After... 

De Beers warns of possible further downside risks

By: Marleny Arnoldi     20th February 2020 Although stock levels in the diamond industry’s midstream are returning to a more balanced position, following stable consumer demand, especially in the US, diamond miner De Beers has warned that risks remain. The company on Thursday reported a 55% year-on-year decrease in underlying earnings... 

Anglo delivers $3.5bn profit, declares final dividend 

By: Martin Creamer     20th February 2020 Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Lucapa keeps digging at Lulo

By: Esmarie Iannucci     19th February 2020 Diamond miner Lucapa will continue the hunt for the primary hard-rock sources of alluvial diamonds at its Lulo mine, in Angola, noting that the first stream bulk samples excavated from the Canguige tributary had resulted in the recovery of 45 diamonds weighing 30.3 ct. The bulk sample included... 

Star Diamonds notifies Rio Tinto of noncompliance at Star-Orion

By: Mariaan Webb     19th February 2020 Canadian exploration junior Star Diamond said on Tuesday that it would take all necessary actions to ensure that its interests in the Star-Orion South project, in which Rio Tinto Exploration Canada (RTEC) is earning into, were protected. The company said that RTEC’s purported exercise in... 

Petra adjusts cash flow target amid weak diamond market, coronavirus outbreak 

By: Marleny Arnoldi     17th February 2020 London-listed Petra Diamonds has cut its cash flow targets amid a weak diamond market, owing to the coronavirus outbreak, which started to affect Chinese citizens late last year and has since spread to 24 countries. Reporting on its results for the six months ended December 31, Petra on Monday... 

Petra adjusts cash flow target amid weak diamond market, coronavirus outbreak
Photo by Creamer Media
Petra Diamonds CEO Richard Duffy

Kimberley diamond symposium to be held in September

By: Simone Liedtke     14th February 2020 The 2020 Kimberley Diamond Symposium and Trade Show will take place in Kimberley, in the Northern Cape, in early September, the South African Diamond Producers Organisation (Sadpo) has confirmed. New technologies and geological interpretations have revived activity in mid-size and small-scale... 

Botswana seeks new De Beers diamond sales deal by end of April

By: Bloomberg     14th February 2020 Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current ten-year deal that expires in January. The government wants to see more gems cut and polished within the borders of the world’s second-biggest biggest diamond producer,... 

Angola seeks to make itself a more mining-friendly jurisdiction

By: Rebecca Campbell     14th February 2020 Angola will this year initiate a new governance system for the country’s mining industry, the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, confirmed at the recent Investing in African Mining Indaba in Cape Town. The new system will include the new National Agency for... 

Gem welcomes price improvements for large and smaller diamonds

By: Marleny Arnoldi     13th February 2020 London-listed Gem Diamonds says following pressure on prices for larger high-quality diamonds last year, signs of improvement have been noted since December. Diamond prices for smaller commercial-type diamonds also remained under pressure for most of last year, with polished inventory levels... 

Gem welcomes price improvements for large and smaller diamonds
Gem Diamonds CEO Clifford Elphick

Alrosa to introduce ‘perfect shift’ at Aikhal

By: Creamer Media Reporter      13th February 2020 Russian diamond miner Alrosa is gearing up the launch the ‘perfect shift’ project, aimed at improving performance and reducing downtime of the mining fleet at its Aikhal division. The company explains that its Aikhal division has started to look into organisational changes required for the... 

De Beers identifies actions to further drive safety at its operations

By: Tasneem Bulbulia     12th February 2020 Diamond miner De Beers Group has identified five focus areas that will be advanced across the group’s businesses to further improve safety. The actions were agreed on at the group’s biannual safety summit last week, which brought together CEOs from across the group to deeply engage on Pioneering... 

De Beers identifies actions to further drive safety at its operations
De Beers Safety Summit

Lucapa reports further revenue from diamond sales

By: Esmarie Iannucci     12th February 2020 Diamond miner Lucapa has generated a further A$8.2-million from the run-of-mine diamond sales from its Lulo and Mothae mines. The ASX-listed company told shareholders that a total of 1 548 ct of diamonds from the Lulo operation, in Angola, was sold for gross proceeds of A$5-million, representing... 

Alrosa's diamond sales up 44% y/y in January

By: Creamer Media Reporter      11th February 2020 Russian diamond miner Alrosa's rough and polished diamond sales increased by 44% year-on-year to $405-million in January. This included $390.2-million worth of rough diamonds sold to third parties and $14.8-million of polished diamond sales. 

Singapore court finds diamond lab guilty of infringing Element Six patent

By: Marleny Arnoldi     10th February 2020 Synthetic diamond producer Element Six, part of De Beers Group, has welcomed the successful conclusion of its patent infringement lawsuit against a Singaporean diamond producer. The High Court of Singapore found that the Singaporean diamond producer had infringed an Element Six patent for... 

Singapore court finds diamond lab guilty of infringing Element Six patent

Alrosa to hold four rough diamond auctions in New York

7th February 2020 Russian miner Alrosa will hold four auctions in New York this year for rough diamonds weighing more than 10.8 ct. “In general, each auction attracts up to 100 companies from different countries. Auction sales currently account for about 10% of our overall sales,” Alrosa deputy CEO Evgeny Agureev... 

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