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Diamonds News

Petra recovers 20 ct blue diamond at Cullinan

By: Creamer Media Reporter      23rd September 2019 London-listed Petra Diamonds has recovered a 20.08 ct blue gem-quality Type IIb diamond from the Cullinan mine, in South Africa's Gauteng province. "Today's recovery not only demonstrates the quality of Petra's asset base, as the Cullinan diamond mine remains a significant source of rare blue... 

BlueRock sells another high value diamond

By: Simone Liedtke     20th September 2019 Aim-listed BlueRock Diamonds has sold a 10.6 ct diamond for $103 000. This is the sixth diamond sold for more than $50 000 this year. Together, the six diamonds have generated revenues of $600 000. 

Namdeb sells mothballed diamond mine

By: Rebecca Campbell     20th September 2019 Namibian diamond mining company Namdeb, a 50:50 joint venture between the De Beers Group (itself a subsidiary of Anglo American plc) and the Namibian Government, has sold its Elizabeth Bay mine (and associated marine assets) to the Lewcor Group. The basic deal is worth N$120-million.  

Public Enterprises Committee expresses concern over Alexkor

By: Tasneem Bulbulia     19th September 2019 The Portfolio Committee on Public Enterprises says State-owned diamond miner Alexkor is in trouble. The committee was on Wednesday briefed by the Department of Public Enterprises (DPE) and Alexkor on progress made in addressing the miner’s governance challenges and financial performance. 

Stornoway delisting set for October 18

By: Creamer Media Reporter      19th September 2019 Embattled diamond miner Stornoway Diamond Corp has been informed that it will be delisted from the TSX at the close of market on October 18. The company, which operates the Renard mine, in Quebec, was granted credit protection earlier this month to restructure its business and financial affairs. 

Lucara recovers 123 ct diamond

By: Creamer Media Reporter      18th September 2019 Canada-based miner Lucara Diamond Corp has recovered a 123 ct gem-quality top white Type II diamond at its Karowe mine, in Botswana. The diamond was recovered from direct milling ore sourced from the eastern magmatic/pyroclastic kimberlite (EM/PK(S)) unit of the South Lobe.  

Lucara recovers 123 ct diamond

Alrosa mulls acquisition of diamond factory

By: Creamer Media Reporter      17th September 2019 Russian diamond miner Alrosa is considering the acquisition of Russia's largest producer and exporter of polished diamonds, Kristall, which is valued at 1.89-billion ruble. Kristall processes more than 200 000 ct/y of rough diamonds, with 90% of diamond feedstock supplied by Alrosa. 

Petra records solid full-year performance despite weak market  

By: Tasneem Bulbulia     16th September 2019 Aim-listed Petra Diamonds achieved a solid operational performance for the financial year ended June 30, generating operating free cash flow of $70.5-million, despite a weaker market, and during the company’s transition from its expansionary capital expenditure (capex) phase towards steady-state... 

De Beers Namibia diamond venture sells mine to local consortium

By: Reuters     13th September 2019 Namdeb Holdings, a joint venture between the Namibian Government and Anglo American's diamond unit De Beers Group, said on Thursday that it has sold Elizabeth Bay Mine and its associated marine assets as a going concern to Lewcor, a 100% Namibian-owned consortium. Namdeb, which unsuccessfully... 

Angola adds New York to roadshow itinerary, opens new diamond polisher

By: Rebecca Campbell     13th September 2019 The Angolan Ministry of Mineral Resources and Petroleum has announced that the public bidding process for five minerals concessions, being offered to local and international investors, will be opened on October 7. Previously, it had been expected that the bidding period would run from September... 

South African mining output rises for first time in nine months 

By: Bloomberg     12th September 2019 South African mining output increased for the first time in nine months in July as coal and iron-ore production surged. Mining production rose 2.4% from a year earlier compared with a revised 4.1% decline in June, Pretoria-based Statistics South Africa said in a report on its website Thursday.... 

Environmental authorisation granted for Botswana Diamonds’ Marsfontein mine

By: Tasneem Bulbulia     12th September 2019 Aim-listed Botswana Diamonds’ associate, Vutomi, has been granted an environmental authorisation over a substantial portion of the residual diamond-bearing gravels produced from the high-grade Marsfontein mine, which is contiguous to the Thorny River operation, in South Africa’s Limpopo province.... 

Zimbabwe holds diamond auction for 316 000 ct

By: Bloomberg     11th September 2019 Zimbabwe’s State-owned Minerals Marketing Corporation opened a 316 000 ct diamond auction, which will close at the end of the week, an official said. “This is the third auction we have conducted this year as there were some administrative issues which were taking place within the organization,"... 

Pangolin Diamonds raises $848 860 for exploration

By: Tasneem Bulbulia     10th September 2019 Pangolin Diamonds on Monday closed a nonbrokered private placement financing for aggregated gross proceeds of $848 860. The proceeds will be used to continue exploration at the company’s wholly owned exploration projects in Botswana, including the Phase 1 drilling programme at MSC, the company’s... 

Alrosa reports $181.8m in August sales

By: Reuters     10th September 2019 Russian diamond producer Alrosa said its rough and polished diamond sales stood at $181.8-million in August, its second lowest monthly sales figure this year. "The diamond market is still experiencing headwinds from both macroeconomic and industry specific factors, which have an adverse impact... 

Osisko to buy embattled miner Stornoway

By: Mariaan Webb     10th September 2019 Mining royalty and streaming company Osisko Gold Royalties has entered into a letter of intent (LoI) to form an entity to acquire embattled diamond miner Stornoway Diamonds, which was granted creditor protection by a Quebec court on Monday. Osisko and secured creditors would acquire “all, or... 

Osisko to buy embattled miner Stornoway

Alrosa seeks to brighten up its fluorescent diamond sales

By: Reuters     9th September 2019 Russia's Alrosa is talking to several global jewellery retailers about jointly marketing the miner's jewellery brand that uses fluorescent diamonds, as it strives to create a new niche for the natural stones. Diamond miners, which have long excelled at marketing, are seeking new approaches to... 

Botswana leader sees new diamond pact with De Beers after vote

By: Bloomberg     6th September 2019 Botswana’s government and De Beers are in “cordial” negotiations about a new diamond-sales pact to replace their current 10-year deal which expires in 2020 and it should be concluded after next month’s election, President Mokgweetsi Masisi said. “Everything is going as planned,” Masisi said... 

Multiple factors prompt amendment of Zim law

By: Theresa Bhowan     6th September 2019 The announcement of the intention to repeal the Indigenisation and Economic Empowerment Act by the Zimbabwe government in March 2019 was driven by various factors, including investor, political and legal motivations, global law practice and legal services provider Eversheds Sutherland tells... 

Multiple factors prompt amendment of Zim law
EMMERSON MNANGAGWA Calls for the indigenisation law to be repealed have been prevalent since President Emmerson Mnangagwa came into office

Bright horizons for investors, Zimbabwe diamond industry

By: Theresa Bhowan     6th September 2019 Russian diamond miner Alrosa says one of the motivations behind signing the $12-million joint venture (JV) agreement with national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) is to develop cooperation between Alrosa and its Zimbabwean partners and increase Alrosa’s presence in... 

Bright horizons for investors, Zimbabwe diamond industry
MINING EXPLORATION Russian diamond miner Alrosa aims to develop cooperation with its Zimbabwean partners

Currency crisis, mining policy uncertainty crippling economy

By: Theresa Bhowan     6th September 2019 While investor sentiment toward Zimbabwe is expected to improve, the country faces yet another economic crisis in the form a currency crisis that could deter investors who have had their interest in the country piqued recently, law firm Webber Wentzel tells Mining Weekly. “The indigenisation law,... 

Currency crisis, mining policy uncertainty crippling economy
BRUCE DICKINSON There has been greater investment interest over the past 12 to 18 months, with less risk averse investors remaining positive about the prospects that Zimbabwe has to offer

Mining sector is Zimbabwe’s greatest hope

By: Theresa Bhowan     6th September 2019 The optimism following the ousting of former Zimbabwean President Robert Mugabe was short-lived, with the realisation that it would not result in substantial change in the short term, or immediate return of foreign investment to Zimbabwe. This also came with the realisation that the once-healthy... 

Mining sector  is Zimbabwe’s  greatest hope
WARREN BEECH Radical change in Zimbabwe’s mining laws will facilitate a thriving mining sector

Power supply hampering Zimbabwe mining

By: Theresa Bhowan     6th September 2019 Despite experiencing growth last year, intermittent power supply and a lack of new foreign direct investment (FDI) are the main causes of the Zimbabwe mining sector’s declining performance, says specialist strategy and communications consultancy Africa Practice mining sector lead Rishon Chimboza. 

Power supply hampering Zimbabwe mining
RISHON CHIMBOZA Zimbabwe needs to demonstrate that it is ready for investment when these investments start coming in

Angola is presenting mineral concessions in international centres

By: Rebecca Campbell     6th September 2019 The Angolan Government is currently engaged in an international roadshow to showcase mineral concessions that the country will make available to local and foreign investors. The roadshow started with a presentation in Luanda on August 27, with the second presentation to be held in Dubai on... 

Gem’s cost-cutting drive on track

By: Tasneem Bulbulia     5th September 2019 LSE-listed Gem Diamonds continues with the successful implementation of its business transformation programme, which is aimed at achieving $100-million in incremental revenue, productivity improvements and cost savings to the end of 2021. Reporting on the diamond miner’s results for the six... 

Alrosa to consider withdrawal from subsidiary Alrosa-Nyurba

By: Reuters     5th September 2019 Alrosa said on Thursday its supervisory board will consider terminating the Russian diamond miner's participation in the share capital of Alrosa-Nyurba on September 10 by way of voluntary liquidation of Alrosa-Nyurba. The voluntary liquidation, in case it gets an approval from Alrosa's board and... 

Mining investments in Zimbabwe  

5th September 2019 Mining Weekly and Engineering News Senior Deputy Editor Martin Zhuwakinyu unpacks the investments in Zimbabwe’s mining sector. 

Mining investments in Zimbabwe
Mining investments in Zimbabwe

Electricity issues a major constraint on investment – Mantashe  

By: Esmarie Iannucci     4th September 2019 South Africa’s Mineral Resources and Energy Minister, Gwede Mantashe, has urged continued foreign investment into the country’s resources sector, saying that the government is actively working to address electricity issues, which have constrained economic growth. Speaking on the sidelines of... 

Electricity issues a major constraint on investment – Mantashe
Mineral Resources and Energy Minister Gwede Mantashe at the Africa Downunder conference in Perth.

Lucapa has record month, reports full year profits

By: Esmarie Iannucci     3rd September 2019 Diamond miner Lucapa has reported record monthly production from both the Lulo and Mothae diamond mines, in Angola and Lesotho respectively. The Lulo mine produced 3 180 ct in August, while the Mothae operation recovered a record 2 911 ct in the same year. 

Tech helps Botswana Diamonds identify five kimberlite targets

By: Marleny Arnoldi     2nd September 2019 Pioneering geophysical work undertaken by Aim-listed Botswana Diamonds has identified kimberlite pipes buried at shallow depth on the company’s Thorny River prospect, in Botswana. The company says the targets identified are similar to the pipe that constituted the high-grade and famous De Beers... 

BlueRock expects to be profitable in second half

By: Simone Liedtke     2nd September 2019 Aim-listed BlueRock Diamonds produced more than 50% of its overall output for the six months ended June 30 in May and June. Production for the two months reached 63 200 t. 

De Beers commits R4m for development of malaria testing technology

By: Marleny Arnoldi     30th August 2019 Diamond miner De Beers has provided a grant of €288 999, or R4-million, to a Limpopo-based company called Erada Technology Alliance to aid in its development of a technology focused on reducing the global malaria burden. Erada is pioneering work on the world’s first-ever saliva-based rapid test... 

Committee calls for transformation in diamonds, precious metals sectors

By: Tasneem Bulbulia     30th August 2019 The Portfolio Committee on Mineral Resources and Energy has called for the South African Diamond and Precious Metal Regulator (SADPMR) to transform the sector, as well as to capacitate its existing transformation office to ensure these sectors reflect the demographics of the country. On Thursday,... 

Sierra Leoneans sue government for alleged environmental failings at diamond mine

By: Reuters     30th August 2019 Sierra Leoneans living next to the country's largest diamond mine are taking their government to West Africa's regional court for failing to protect them from alleged environmental lapses by the company that runs it, a subsidiary of Octea Limited The complaint, filed to the Economic Community of... 

Minerals Council developing exploration strategy

By: Nadine James     30th August 2019 The Minerals Council South Africa is in the process of developing a draft exploration strategy to present to the Council for Geosciences (CGS) and the Department of Minerals Resources and Energy (DMRE), Minerals Council CEO Roger Baxter told attendees of the Afriforesight Future of Metals... 

Minerals Council developing exploration strategy
Photo by Creamer Media
ROGER BAXTER South Africa should be attracting at least 5% of global exploration investment

De Beers continues to offer supply flexibility as polished inventories remain high 

By: Simone Liedtke     28th August 2019 Diamond miner De Beers Group sold $280-million of rough diamonds during the seventh sales cycle of this year. While this was $30-million higher than sales for the sixth cycle, it was significantly lower than the $503-million of diamonds sold in the seventh sales cycle of 2018. 

Namibia’s central bank forecasts deeper economic contraction in 2019

By: Reuters     28th August 2019 The Bank of Namibia said on Tuesday it expected the domestic economy to fall into a deeper contraction of 1.7% during 2019, down from its initial estimate of 0.3% positive growth in April. The central bank said the economy was expected to recover to positive growth of 0.8% and 1.2% in 2020 and... 

Delport resigns as Trans Hex CEO

By: Creamer Media Reporter      27th August 2019 Llewellyn Delport has resigned as CEO of diamond exploration, mining and marketing company Trans Hex, effective August 31. The Trans Hex board thanked Delport for his contribution to the company since 2004. 

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