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Diamonds News

Surging diamond demand helps Botswana trader post record sales

By: Bloomberg     22nd February 2022 Botswana’s State-run diamond trader reported record revenue last year with sales surging almost five fold after imports from the US recovered from a Covid-19 induced slowdown. Okavango Diamond Company sold $963 million of rough diamonds last year, said Dennis Tlaang, a company spokesman. The... 

BlueRock recovers 11.95 ct diamond at Kareevlei

By: Creamer Media Reporter      22nd February 2022 Aim-listed BlueRock Diamonds has recovered an 11.95 ct diamond at its Kareevlei mine, in the Kimberley region of South Africa. The diamond miner says the diamond has an expected valuation in excess of $100 000 and will go to tender later this week. 

Star Diamond and Rio Tinto set meeting date for JV project

By: Creamer Media Reporter      21st February 2022 Canadian junior Star Diamond and Rio Tinto Exploration Canada (RTEC) are set to meet on March 4 to review data collected from last two field seasons and to approve and interim expenditures budget for their Fort a la Corne (FalCon) joint venture (JV) project. The JV partners, which at the end of... 

Lucapa receives A$5m dividend from Angola subsidiary

By: Marleny Arnoldi     18th February 2022 ASX-listed Lucapa Diamond Company has received a 2021 interim dividend payment of A$5-million, or $2.6-million, from its 40%-owned and wholly operated alluvial mining company Sociedade Mineira Do Lulo (SML), based in Angola. SML, which operates the Lulo project, is co-owned by Angola’s... 

Lukas Lundin retires as chair of Lundin Mining, Lundin Gold and Lucara

By: Mariaan Webb     18th February 2022 Lukas Lundin has announced his retirement as chairperson of several boards of mining companies that his family controls, including base metals producer Lundin Mining, gold junior Lundin Gold and Botswana's Lucara Diamond Corp. His retirement will be effective at the respective companies'... 

Largest and most valuable blue diamond to come to auction at Sotheby's Hong Kong

By: Reuters     17th February 2022 It's the largest and most valuable blue diamond to ever come to auction. And, it's a recent discovery. The more than 15 ct De Beers Cullinan Blue diamond was mined in 2021 at South Africa's Cullinan Mine, one of the few sources in the world for extremely rare blue diamonds. It will be offered in... 

Red tape delaying R90bn investment in ready-to-go projects – Minerals Council 

By: Martin Creamer     14th February 2022 Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Diamcor tender generates $1m in revenue

By: Marleny Arnoldi     11th February 2022 TSX-V-listed Diamcor Mining has had a fruitful first rough diamond tender for the year, selling 3 062 ct and generating gross revenue of $1.01-million. Diamonds sold for an average price of $329.93/ct.  

Firering to fast-track diamond drilling programme at Côte d'Ivoire project

By: Tasneem Bulbulia     10th February 2022 Aim-listed Firering Strategic Minerals says further mapping by SEMS Exploration on and around Spodumene Hill at its flagship Atex project, in Côte d'Ivoire, has identified additional pegmatite outcrops, as well as more lithium-bearing pegmatite float, allowing for the fast-tracking of a diamond... 

WFDB Presidents' Meeting to be held in Dubai later this month

By: Tasneem Bulbulia     10th February 2022 Industry association the World Federation of Diamond Bourses (WFDB) will hold its bi-annual Presidents’ Meeting from February 23 to 25, at the Almas Tower, in Dubai. The meeting, the first in-person WFDB meeting since the beginning of the coronavirus pandemic, will be attended by presidents and... 

Russian arctic diamond miner ALMAR plans IPO next month

By: Bloomberg     9th February 2022 Russian diamond miner ALMAR plans to sell 15% of its shares in an initial public offering next month, betting that a booming gem market will attract investors despite geopolitical tensions weighing on the nation’s stocks. The company plans to list on Russia’s SPB Exchange and use the proceeds on... 

Russian arctic diamond miner ALMAR plans IPO next month

Petra appoints Jon Dudas as nonexec director

By: Tasneem Bulbulia     9th February 2022 London-listed Petra Diamonds has appointed Jon Dudas as an independent nonexecutive director of the company, effective March 1. Dudas is currently chairperson of Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, which he joined in 2020. Prior to this, he was independent nonexecutive director and... 

Directors face potential liability for climate change risks – Webber Wentzel 

By: Martin Creamer     8th February 2022 Directors face potential liability if they fail to carry out their fiduciary duties to curb climate change risks and do not make complete disclosures about climate-related risks, Webber Wentzel partner Merlita Kennedy and associate Tobia Serongoane stated on Tuesday. In a release to Mining... 

Creamer Media montage
Webber Wentzel associate Tobia Serongoane (left) and partner Merlita Kennedy.

Diamonds industry rebounding strongly after disruptive two years

By: Donna Slater     7th February 2022 Consultancy Bain & Company and the Antwerp World Diamond Centre (AWDC) report that the diamond industry is experiencing a “spectacular” rebound after a decline in 2020 as a result of the Covid-19 pandemic, when diamond jewellery sales fell by 14% and rough diamond sales by 31%. The eleventh... 

Robust demand delivers $660m in revenue for De Beers’ first 2022 sales cycle

By: Tasneem Bulbulia     2nd February 2022 Diamond miner De Beers sold $660-million of rough diamonds during its first sales cycle of the year. “As anticipated, there was strong growth in consumer demand for diamond jewellery over the end of year holiday season. 

Petra agrees new first lien banking facility on more favourable terms

By: Tasneem Bulbulia     2nd February 2022 Diamond miner Petra Diamonds has concluded a binding, credit-approved term sheet for the refinancing of its first lien debt facility with its South African lender group, providing for more favourable terms than the group’s current first lien facilities. The conclusion of the new facility is... 

Gem achieves $100m business transformation target

By: Creamer Media Reporter      1st February 2022 London-listed Gem Diamonds says it achieved its four-year business transformation target of $100-million in incremental revenue, productivity improvements and cost savings by the end of 2021. All operational and financial metrics for the year were also within, or better than, guidance, the... 

Vast backs out of Ghaghoo acquisition

By: Darren Parker     1st February 2022 Vast Resources has pulled out of a deal to acquire Gem Diamonds Botswana (GDB) with joint venture (JV) partner Botswana Diamonds. GDB’s primary asset is the fully permitted Ghaghoo diamond mine in central Botswana, which is currently under care and maintenance. 

Debswana annual diamond sales jump 64%

By: Reuters     1st February 2022 Sales of rough diamonds by Debswana Diamond Company jumped 64% in 2021, statistics released by the Bank of Botswana showed on Monday, driven by the reopening of key global consumer markets. The total value of Debswana's diamond exports stood at $3.466-billion in 2021 compared with $2.120-billion... 

South Africa needs to embrace Ubuntu principles in going green, webinar hears 

By: Martin Creamer     31st January 2022 In decarbonising and going green, South Africa needs to embrace the principles of Ubuntu and show humanity towards others. That view was expressed by Gold Fields South Africa executive VP Martin Preece during the 'Decarbonisation & Going Green in the Mining Sector' webinar hosted by Creamer Media... 

Screenshot by Creamer Media
Photo by Creamer Media
From top left, clockwise, are Abel Sakhau, Martin Preece, Jevon Martin, Nikisi Lesufi and James Mackay.

Lucapa records strong 2021 performance

By: Tasneem Bulbulia     27th January 2022 ASX-listed Lucapa Diamond Company recorded a year of operational growth and consolidation in 2021, with record operational and financial performances, MD Stephen Wetherall said in a quarterly activities report for the period ended December 31. “The commissioning of the standalone kimberlite bulk... 

De Beers raises output as demand strengthens

By: Donna Slater     27th January 2022 Diamond miner De Beers increased its rough diamond production by 15% year-on-year to 7.7-million carats for the fourth quarter of 2021, reflecting planned higher production to meet strengthening levels of demand. Production from its Botswana operations increased by 23% to 5.2-million carats for... 

Anglo increases copper guidance for 2022 as Peru mine comes online

By: Marleny Arnoldi     27th January 2022 Global miner Anglo American says its production for the fourth quarter of 2021 was flat compared with output in the fourth quarter of 2020. CEO Mark Cutifani noted on January 27 that operating levels across the group had been at about 95% of normal capacity throughout 2021 as a result of... 

Anglo CEO Mark Cutifani
Anglo CEO Mark Cutifani

Diamcor delivers 3 103.40 ct for first 2022 tender and sale

By: Tasneem Bulbulia     26th January 2022 Canadian company Diamcor Mining has delivered about 3 103.40 ct of rough diamonds in January for its initial tender and sale of the New Year. These rough diamonds, which were recovered from the processing of quarry material at the company’s Krone-Endora at Venetia project, in South Africa, will... 

BlueRock sells 6.8ct diamond for $63 186

By: Tasneem Bulbulia     25th January 2022 Aim-listed BlueRock Diamonds has sold a 6.8 ct diamond recovered from its Kareevlei mine in South Africa for $63 186 in its January sale. "We recently announced we had two potentially high-value stones to sell in the January tender and, although one fell under our $50 000 disclosure threshold, we... 

There’s a buying frenzy in cheap and tiny diamonds

By: Bloomberg     23rd January 2022 A surge in diamond demand that began in the early Covid lockdowns is showing no sign of easing, and now even the cheapest, smallest stones are getting caught up in a buying frenzy. Low-end diamonds — the sort that you might find in jewellery displayed in a local WalMart — has been a tough... 

A photo of diamond sorting

RioZim plans to list on dollar-only Zimbabwe exchange

By: Bloomberg     21st January 2022 RioZim is weighing a listing on Zimbabwe’s Victoria Falls Stock Exchange, where trading is denominated in foreign currency, according to people familiar with the matter. The nickel, gold and diamonds producer is “seriously considering all options available to it under the legal framework of the... 

Specialised services winners announced for Angola diamond exchange

By: Darren Parker     20th January 2022 Angola’s national diamond trading company Sodiam has completed the process of evaluating expressions of interest from both Angolan and international companies for the provision of specialised services, including diamond boiling and diamond tenders – services deemed important for the future... 

Large and rare black diamond on auction

By: Marleny Arnoldi     20th January 2022 The government of Dubai on January 18 hosted an exclusive public viewing of an extremely rare black diamond called “The Enigma” at the Dubai Diamond Exchange. The diamond has never before been exhibited.  

The Enigma 555.5 ct black carbonado diamond
The Enigma 555.5 ct black carbonado diamond

November mining production, sales up; Omicron to weigh on December stats

By: Donna Slater     18th January 2022 Mining production increased by 5.2% year-on-year in November, buoyed by a 38.1% rise in the production of platinum group metals (PGMs) – contributing 7.7 percentage points to the overall tally; and a 9.3% rise in iron-ore – contributing 0.8 of a percentage point, overall. Financial services... 

BlueRock reports higher full-year grade, output and carats sold

By: Tasneem Bulbulia     17th January 2022 Aim-listed BlueRock Diamonds achieved higher production, considerable grade increases and a 41% increase in carats sold for 2021, executive chairperson Mike Houston says. The company owns and operates the Kareevlei diamond mine, in the Kimberley region of South Africa. 

De Beers implements big diamond price hike as demand runs hot

By: Bloomberg     17th January 2022 De Beers pushed through one of its most aggressive diamond price increases in recent years as the world’s biggest producer of the stones cashes in on a buying frenzy for uncut gems. De Beers raised prices by about 8% at its first sale of the year, according to people familiar with the situation... 

An image of rough diamonds

Astro to spin-out WA diamond project

By: Esmarie Iannucci     14th January 2022 Junior Astro Resources on Friday announced plans to spin-off its Lower Smoke Creek diamond project, in Western Australia. The company told shareholders that the spin-off would be in the form of an initial public offering (IPO) on the ASX, and will comprise Astro’s East Kimberly project, together... 

Alrosa’s sales shoot past 2019 levels

By: Creamer Media Reporter      13th January 2022 Russian diamond producer Alrosa on Thursday announced strong rough and polished diamond sales, which not only shot past the Covid-hit 2020 levels, but also came in substantially higher than sales in pre-pandemic 2019. Alrosa reported total sales of $4.17-billion, including rough diamond sales of... 

Alrosa’s sales shoot past 2019 levels

Projected kimberlite at Thorny River considerably higher than previous estimates

By: Tasneem Bulbulia     12th January 2022 Aim- and BSE-listed Botswana Diamonds has completed a preliminary kimberlite assessment on its Thorny River diamond prospect in South Africa, with the projected kimberlite volume now considerably higher than previous estimates at about two-million tonnes. “The estimated kimberlite volume in the... 

Minerals Council backs State capture commission’s recommendations 

By: Martin Creamer     6th January 2022 Minerals Council South Africa on Thursday endorsed the recommendations of the first report of the Commission of Inquiry into State Capture. The Minerals Council said these recommendations, aimed at preventing endemic and corrosive corruption in organs of the state and within the private sector,... 

Supplied picture
Minerals Council South Africa CEO Roger Baxter

BlueRock appoints Meiring Burger as Kareevlei CEO

By: Schalk Burger     5th January 2022 Aim-listed diamond producer BlueRock Diamonds has appointed Meiring Burger as CEO of its subsidiary Kareevlei Mining. He will take over from outgoing Kareevlei Mining CEO Gus Simbanegavi, who is also BlueRock COO. 

BlueRock's Kareevlei operation

Diamond market booms in Israel

By: Marleny Arnoldi     4th January 2022 The Israeli diamond industry showed an impressive recovery in 2021 and even surpassed figures for 2019, with net polished diamond exports having reached $3.65-billion. This was a 54% increase compared with 2020 and a 7.5% increase compared with 2019. 

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