R/€ = 19.27 Change: 0.08
R/$ = 17.08 Change: 0.09
Au 1797.77 $/oz Change: 17.35
Pt 841.58 $/oz Change: 21.89


Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Ekapa changes name, donates face masks

By: Donna Slater     2nd July 2020 Following the ceasing of the joint venture (JV) between diamond miners Kimberley Ekapa Mining (KEM) and Petra Diamonds, KEM has changed its name to only Ekapa. At the end of 2018, Petra Diamonds announced its completion of the sale of its and its black economic empowerment partner’s 75.9%... 

Miner Petra Diamonds puts up 'for sale' board

By: Reuters     26th June 2020 Petra Diamonds has put itself or parts of its business up for sale, the Africa-focused miner said on Friday, as part of a review the company began in March after being hammered by lacklustre demand and prices for the precious gem. The company has been in talks with its creditors to shore-up... 

Stornoway CEO resigns in rationalisation exercise

By: Creamer Media Reporter      26th June 2020 Canada’s Stornoway Diamonds on Thursday announced a management shakeup as part of a rationalisation exercise, which began last year with the privitisation of the company. Patrick Godin had resigned as CEO and Annie Torkia Lagacé also stepped down as executive VP, finance and corporate services.... 

Minerals Council shares details of mining industry's Covid-19 resilience with committee 

By: Marleny Arnoldi     19th June 2020 With a higher test rate at 3.01%, compared with the national and global average test rates of 2.07% and 1.57%, respectively, South Africa’s mining industry is proving to be handling the Covid-19 pandemic better than most sectors, the Minerals Council has said. Minerals Council CEO Roger Baxter... 

Canadian diamond miner issues new 2020 guidance

By: Mariaan Webb     19th June 2020 Canadian diamond miner Mountain Province Diamonds has provided a new guidance for 2020, as CEO Stuart Brown says that demand for rough diamonds are starting to show signs of interest. The Toronto-headquartered company lowered the production forecast for Gahcho Kue, in Kennady Lake on the... 

Rio Tinto won't bid for remaining stake in Canadian diamond mine

By: Reuters     16th June 2020 Global miner Rio Tinto has no plans to take full control of its Canadian Arctic diamond mine, which faces closure and will cost hundreds of millions of dollars to clean up, court documents show. Rio, which owns 60% of the Diavik mine in Canada's Northwest Territories, said in a May 28 court... 

Company assists mining development projects towards optimising value

By: Creamer Media Reporter      12th June 2020 Geometallurgical service provider GEMET is comprised of a team of mineral processing, engineering and associated technical specialists with laboratory testing functionality focused on mine development projects, especially those within the advanced, and brownfield exploration stages. In this... 

Platinum retailers working towards recovery amid Covid-19 

By: Simone Liedtke     12th June 2020 Manufacturers and retailers of platinum jewellery have begun working towards ensuring the recovery of the sector, as Covid-19 continues to heavily impact on the global economy, the Platinum Guild International’s (PGI’s) latest 'Platinum Jewellery Business Review (PJBR)' states. Published on June... 

Sadpo suggests diamond stocks be held back until market improves

By: Marleny Arnoldi     29th May 2020 In its latest newsletter, the South African Diamond Producers Organisation (Sadpo) has advised that diamond producers hold back on production and sales, as the rough diamond market remains under immense pressure. Sadpo says the rough diamond market, particularly for larger diamonds, has... 

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