R/€ = 16.12 Change: -0.11
R/$ = 13.66 Change: -0.09
Au 1279.61 $/oz Change: -8.14
Pt 919.00 $/oz Change: -4.50


Diamond exploration intensifying close to mine that paid for itself in 3.5 days 

By: Martin Creamer     18th October 2017 London- and Botswana-listed Botswana Diamonds, which is funding diamond exploration on three sites in South Africa, expects to declare an inferred resource by year-end at its Thorny River project in Limpopo, which is located very close to the Marsfontein mine that had an astonishing... 

As banks flee diamond trading, a startup plans to fill the gap

By: Bloomberg     18th October 2017 As major banks abandon the diamond trading world, one new lender is preparing to jump in. Dfin, a London-based corporate finance firm that specializes in the diamond sector, plans to lend $250-million to diamond polishers, cutters and traders -- known in the industry as the midstream -- over the... 

South African mining industry must modernise – Chamber of Mines

By: Dylan Slater     18th October 2017 The South African mining industry has to modernise as a matter of urgency in order to halt job cuts in the industry, as well as to create more jobs, says Chamber of Mines modernisation and safety head Sietse van der Woude. Delivering a keynote address at diversified engineering solutions company... 

Egg-sized diamond for sale: proceeds to benefit Sierra Leone's poorest

By: Reuters     18th October 2017 Sierra Leone will auction one of the world's largest diamonds to fund development projects in the impoverished community where it was found, the group managing the sale said on Tuesday. The 709 ct gem, named the "peace diamond", was found in the eastern Kono region in March by a Christian pastor... 

Young HDSA diamond beneficiators doing well – De Beers 

By: Martin Creamer     17th October 2017 The model launched last year by De Beers for the development of young historically disadvantaged South Africans (HDSAs) as diamond beneficiators is proving highly successful, De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala said on Tuesday. Speaking to Mining Weekly Online on the... 

De Beers’ eighth sales cycle nets $370m

By: Anine Kilian     17th October 2017 Diamond miner De Beers reported revenue of $370-million for its eighth rough diamond sales cycle of this year. This was lower than the $494-million in revenue earned in the eighth sales cycle of 2016. 

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates

By: Henry Lazenby     17th October 2017 Canadian alluvial diamond miner Rockwell Diamonds, which had its origins within Vancouver-based mining house Hunter Dickenson, has reported a noncash comprehensive income of C$23.2-million for the second quarter ended August 31. The result is based almost entirely on the reversal of foreign... 

Stellar agrees to sell Guinea assets for $1.25m

By: Anine Kilian     16th October 2017 West Africa-focused Stellar Diamonds and BDG Capital have agreed on a final purchase price of $1.25-million for Stellar’s Guinea assets. This follows the completion of a due diligence by BDG. 

Stornoway reports Q3 sales, price growth as it breaks ground in quest to solve breakage issue

By: Henry Lazenby     13th October 2017 Quebec’s sole diamond operator Stornoway Diamond Corp has reported strong third-quarter production and sales results, despite a rough market correction at the end of the quarter that served to slow the rate of increase. Earlier this week, the Longueuil, Quebec-based company reported production... 

World's largest pink diamond expected to fetch up to $30m at auction

By: Reuters     13th October 2017 "The Pink Raj", an intense pink diamond described by experts as the world's largest, is expected to fetch up to $30-million when it is auctioned in Geneva next month. The stone, which weighs just over 37 ct, was displayed by auction house Sotheby's in London this week. 

Angola grants gold exploration concession as it seeks to diversify economy

By: Keith Campbell     13th October 2017 A public/private partnership (PPP) has been granted a concession to prospect for gold in the Angolan province of Cabinda, the Macauhub news agency has reported. The PPP is named Mongo Mongo Mineração Limitada (Mongo Mongo Mining Limited). Its shareholders are the State-owned Empresa Nacional de... 

South African mining production surges 6.9% in August, exceeds expectations

By: African News Agency      12th October 2017 Mining production in South Africa increased by 6.9% year-on-year in August whilst seasonally adjusted mining production increased by 5.3% in the same month compared with July, Statistics South Africa (StatsSA) said on Thursday. StatsSA said the biggest contributors to the jump in production were... 

Alrosa to auction large rough diamonds in Vladivostok

By: Creamer Media Reporter      12th October 2017 Russian diamond major Alrosa said on Wednesday that it would put up for sale 1 170 ct of large rough diamonds at an auction in Vladivostok later this month. The diamonds all weigh more than 10.8 ct each and would be sold in 72 gem-quality lots. The largest diamond weighs 47.55 ct. 

Alrosa’s Sept sales down 32% y/y

By: Mariaan Webb     11th October 2017 Russian diamond major Alrosa sold $309.7-million worth of rough and polished diamonds in September – a 32% decrease on its sales in the same month last year. Rough diamond sales amounted to $305.8-million and polished diamond sales to $3.9-million, compared with year-earlier sales of... 

Water recovery issue hamstrings throughput potential at Diamcor’s Krone-Endora at Venetia

By: Henry Lazenby     11th October 2017 Borehole water quality and the excessively suspensive properties of the extremely fine kimberlitic clay materials of the Krone-Endora at Venetia project, in South Africa, have conspired to constrain the improved potential throughput, project owner Diamcor Mining of Kelowna, in British Columbia,... 

Diamonds – the new gold for rich investors?

By: Reuters     10th October 2017 Diamonds can at last be an investor's best friend, the Singapore Diamond Investment Exchange (SDIX) said on Tuesday, as it launched a new standardised form of the precious stones to rival gold ingots as a safe-haven alternative to cash. The industry says diamonds are the world's most concentrated... 

Trans Hex to lift interest in WCR to 67.2%

By: Anine Kilian     9th October 2017 JSE-listed Trans Hex will acquire a further 27.2% shareholding in West Coast Resources (WCR) from investment company RAC for R39.1-million. The acquisition will be settled through the issue of 9.4-million new Trans Hex shares. 

Hopes for Liberia’s first diamond mine rise on general election 

By: Martin Creamer     9th October 2017 This year's discovery of two new additional diamond-bearing pipes that are satellites to an earlier-discovered main diamond-bearing kimberlite pipe have boosted hopes for the establishment of the first diamond mine in Liberia, where artisanal activity has been the mainstay of diamond recovery in... 

Petra Diamonds warns of possible breach of lending covenants

By: Anine Kilian     9th October 2017 LSE-listed Petra Diamonds on Monday warned shareholders it was likely to breach lending covenants at the end of this year owing to labour disruptions at its South African mines and uncertainty around sales volumes from its Williamson mine, in Tanzania. The company last month said two earnings... 

De Beers’ diamond exploration grinding to halt on government issues 

By: Martin Creamer     5th October 2017 The exploration programme of De Beers Consolidated Mines (DBCM) is grinding to a halt owing to the ongoing issues the iconic diamond mining company is experiencing with South Africa’s Department of Minerals Resources (DMR). With the hold-up of as many as 54 prospecting licence applications for as... 

Kennady reports maiden 5.02m ct resource for Faraday kimberlites

By: Henry Lazenby     4th October 2017 Explorer Kennady Diamonds has reported a maiden inferred resource for the Faraday kimberlites near the Gahcho Kué mine, in Canada’s Northwest Territories of more than 5.02-million carats. The Toronto-headquartered company, the exploration spinout of Mountain Province Diamonds, on Tuesday reported... 

Firestone recovers its largest diamond to date

By: Natasha Odendaal     3rd October 2017 Aim-listed Firestone Diamonds has recovered its largest diamond to date – a 134 ct gem-quality light yellow diamond – from its Liqhobong mine, in Lesotho. The company believes the recovery, which is the second 100 ct-plus diamond recovered since production started, reinforced the potential for... 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

Stornoway upbeat on possible solution to lower Renard diamond breakage

By: Henry Lazenby     2nd October 2017 Ongoing diamond breakage in the Renard process plant is reducing the proportion of larger diamonds available for sale and dimming revenue prospects for Quebec-focused miner Stornoway Diamond Corp, at a time when market sentiment for Renard’s precious gems is on the rise. However, president, CEO... 

Diamond stocks are crashing this year, but gem prices aren't

By: Bloomberg     2nd October 2017 It’s been a surprisingly ugly year for most diamond companies. Shares of small producers, mainly focused on mines in southern Africa and Canada, have tumbled more than 30 percent during the past year and each company seems to be embroiled in its own mess. 

Botswana Diamonds to start drilling newly discovered kimberlite this year

By: Anine Kilian     29th September 2017 Aim-listed Botswana Diamonds will start drilling at its recently discovered Ontevreden project, in South Africa, later this year. In a project update released on Friday, the company said sampling at the Ontevreden kimberlite had found abundant G10, G9 and eclogitic garnets typically seen in... 

Firestone sells 195 330 ct in latest diamond sales

By: Natasha Odendaal     29th September 2017 Aim-listed Firestone Diamonds sold 195 330 ct of diamonds during its latest diamond sales, held in July and September, in Antwerp, netting about $13.5-million in proceeds. The company attributed the drop in the average realised value from $107/ct to an average value of $69/ct to the continued... 

Petra Diamonds reaches wage agreement with South Africa's NUM

By: Reuters     29th September 2017 Petra Diamonds Ltd said on Thursday it had reached an agreement with South Africa's National Union of Mineworkers (NUM) on pay at the company's Finsch and Koffiefontein operations, ending a strike at the two mines. Employees would return to normal duties on Sept. 29, the company said in a... 

Russia’s Alrosa to reopen New York trade office

By: Creamer Media Reporter      28th September 2017 Russian diamond major Alrosa said on Thursday that it would reopen its trade office in New York in late 2017 or early 2018. Alrosa president Sergey Ivanov, who met with representative of the US diamond industry this week, said in a statement that Alrosa was interested in trading in rough and... 

Tanzania grants Petra authorisation to resume diamond exports, sales

By: Creamer Media Reporter      28th September 2017 The Tanzanian government has granted LSE-listed Petra Diamonds authorisation to resume the export and sales of diamonds from its Williamson mine. The miner and the government will now finalise details of the timing and process for the next diamond parcel to be exported to Petra’s marketing office... 

Concrete Rehabilitation Success At Finsch By Botes & Kennedy Manyano

     28th September 2017 Botes & Kennedy Manyano offered Petra Diamonds a practical workable solution for the rehabilitation of three concrete silos at its Finsch Diamond Mine in the Northern Cape. The design and construct project was aimed at restoring the structural integrity of the silos while addressing issues such... 

Botswana to name developer of $4bn plant by December

By: Bloomberg     27th September 2017 Botswana Oil will choose by December a company to build and operate a $4-billion coal-to-liquids (CTL) plant, a facility it said may meet as much as 80% of the Southern African country’s fuel demand. The state-owned oil firm received 11 bids by its August deadline and is subjecting them to... 

Stellar Diamonds pays for Tongo environmental licence

By: Anine Kilian     26th September 2017 Aim-listed Stellar Diamonds has paid the Sierra Leone Environmental Agency $150 240 for an environmental licence for its Tongo project. The payment of the environmental licence fee is an important step in Stellar being issued the large-scale mining licence for the Tongo project. 

Investors wary as Tanzania moves to assert more control over mines

By: Reuters     26th September 2017 New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie. Takeover bids and exploration plans have been... 

Lucara sells giant ‘Lesedi La Rona’ diamond for $53m

By: Henry Lazenby     25th September 2017 Canadian diamond junior Lucara Diamond Corp has sold its 1 109 ct ‘Lesedi La Rona’ diamond for $53-million, or $47 777/ct, the company announced on Monday. Discovered in November 2015, the precious stone ranks as the second-largest diamond ever found, and consolidates the company’s flagship... 

Offer for Rockwell affiliates flops on BRP haste; orderly wind down still planned

By: Henry Lazenby     23rd September 2017 Bankrupt alluvial diamond miner Rockwell Diamonds advised on Friday that it has received two offers which, when combined, would have been able to buy out the Canadian company’s distressed South African subsidiaries. However, an untimely motion to place the affiliates into provisional liquidation... 

Giant pink diamond discovered could be Alrosa's most expensive

By: Bloomberg     22nd September 2017 Russia’s Alrosa has unearthed a pink diamond that the gem giant says could be the most expensive it has ever found. Alrosa, which produces more stones than anyone else, found the 27.85 ct pink gem at its alluvial mines in Russia’s Far East. The company said the biggest pink diamond it had... 

NUM continues strike at Petra’s Finsch mine, to down tools at Koffiefontein after wage deadlock

By: Natasha Odendaal     21st September 2017 The National Union of Mineworkers (NUM) has issued Petra Diamonds with a 48-hour notice for a planned, protected strike at the Koffiefontein mine, in Northern Cape. The union on Thursday said it would withdraw all members from the mine, starting on Saturday morning, until Petra accedes to the... 

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