R/€ = 14.41 Change: -0.07
R/$ = 11.68 Change: 0.00
Au 1330.89 $/oz Change: 8.93
Pt 998.50 $/oz Change: 10.69


De Beers sets higher output target for 2018

By: Simone Liedtke     22nd February 2018 Global diamond miner De Beers has set a production target of as high as 36-million carats for 2018. In its 2017 results announcement the Anglo American subsidiary reported a production guidance of 34-million carats to 36-million carats, which compares with 33.45-million carats produced in 2017. 

Restructured Anglo American reaps benefits, posts solid FY17 results

By: Simone Liedtke     22nd February 2018 After an extensive restructuring, diversified miner Anglo American raised its dividend for the 2017 financial year to $1.02 a share - its highest dividend in nearly a decade. The "fundamentally different business" nearly halved its debt to $4.5-billion and doubled its free cash flow by 93% to... 

Lucara's FY17 profit dips 8% on lower sales

By: Henry Lazenby     22nd February 2018 Southern Africa-focused miner Lucara Diamond Corp has reported an 8% drop in full-year profit as lower production and the sale of fewer special diamonds weighed on the bottom line. The Vancouver-based miner, which operates its flagship Karowe mine, in Botswana, reported net income of... 

Contractors start FEED study at Stellar’s Sierra Leone project

By: Creamer Media Reporter      20th February 2018 The front-end engineering and design (FEED) study for the underground mine development at Aim-listed Stellar Diamonds’ Tongo-Tonguma project, in Sierra Leone, is now under way. Stellar on Tuesday said a team of five consultants from contractors Paradigm Project Management (PPM) and SRK Consulting... 

Novatek says wins auction for Alrosa's gas assets

By: Reuters     19th February 2018 Novatek, Russia's largest non-State gas producer, said on Monday it had won an auction for Alrosa's two gas assets with a bid of 30.3-billion roubles. Novatek has been actively buying upstream assets in an effort to boost sluggish natural gas output. 

Strikes, currency strength push Petra to H1 loss

By: Dylan Slater     19th February 2018 Strike action at some of its South African mines, currency strength and the inability to sell a parcel of diamonds from its Williamson mine, in Tanzania, negatively impacted on Petra Diamonds’ profitability in the six months ended December 31.  

Zimbabwe, Botswana set to sign diamond deal – report

By: News24Wire      19th February 2018 Zimbabwe is reportedly set to sign a diamond processing deal with Botswana within the next three months, after President Emmerson Mnangagwa met with his counterpart, President Ian Khama, this week in Gaborone. According to the state-owned Herald newspaper, Mnangagwa was in Botswana on a state visit. 

Alrosa reviews submissions for Mir reopening

By: Simone Liedtke     16th February 2018 Diamond miner Alrosa has opened a contest with a 1.5-million-rouble reward for the best solution to resume underground mining at its Mir deposit, where operations were suspended in August last year owing to a flood that killed eight people. The company said this week that it had received and... 

Botswana Diamonds undertakes scoping study at Thorny River

By: Megan van Wyngaardt     15th February 2018 Aim-listed Botswana Diamonds has started a scoping study to determine the commercial potential of the Thorny River diamond project, which is a consolidation of the Frischgewaagt, Hartbeesfontein and Doornrivier properties, in Limpopo. The six-month study will further refine the volumes of... 

Botswana Diamonds raises £500 000 for South Africa, Botswana exploration

By: Creamer Media Reporter      14th February 2018 Aim-listed Botswana Diamonds has raised £500 000 to fund ongoing exploration in South Africa and Botswana. The funds were raised through the issue of 50-million shares to new and existing investors at a price of 1p a share. 

Mountain Province's diamond sales start the year on a high note

By: Henry Lazenby     14th February 2018 Mountain Province Diamonds' first diamond tender of the year broke all records in terms of revenue and customer activity. The TSX- and Nasdaq-listed company said the sale of 351 000 ct of rough diamonds has resulted in Mountain Province's highest revenue result to date, with total sale proceeds... 

Botswana Diamonds starts exploration work at Botswana JV, maintains exploration optimism

By: Mia Breytenbach     13th February 2018 Aim-listed Botswana Diamonds has started exploration work on the Sunland Minerals joint venture (JV), which it shares with Russian diamond producer Alrosa, in Botswana. The objective of the exploration programme is to follow up on 15 previously identified priority geophysical targets in PL232-235... 

Mugabe's fall has veteran miners jockeying for Zimbabwe comeback

By: Bloomberg     13th February 2018 Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds. Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London... 

Alrosa sold diamonds worth $504.5m in January

By: Reuters     13th February 2018 Russia's Alrosa said on Monday it had sold rough and polished diamonds worth $504.5-million in January. Rough diamond sales had amounted to $499-million and polished diamond sales to $5.5-million, it said in a statement. 

Lucapa recovers first diamonds from Lesotho's Mothae mine

By: Simone Liedtke     12th February 2018 ASX-listed Lucapa Diamond Company has announced its first diamond recoveries from the Mothae kimberlite mine, which it owns in partnership with the government of Lesotho. The largest of the diamonds recovered in the first rest run was 6.6 ct. 

Shrinking gems are a headache for the diamond industry

By: Bloomberg     9th February 2018 The diamond industry has a size problem. Instead of splashing out on a ring or necklace featuring one big, bright diamond, shoppers are increasingly choosing pieces with several, smaller gems, which are often lower quality. And selling jewellery with smaller stones has been a good way for... 

'Rarest white diamond ever' to be auctioned in London

By: Reuters     8th February 2018 A flawless diamond, the size of a large strawberry, is expected to fetch a world record price when it goes on sale at Sotheby's in London this month. Weighing just over 102 ct, the round, brilliant white stone is smaller than a 163-ct oval diamond sold in Hong Kong in 2013, which currently holds... 

Political shifts lift investor mood in Southern African mining

By: Reuters     8th February 2018 Mining is a long-term game, but in Southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year. Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of... 

Zimbabwe to consider waivers on platinum, diamonds ownership law

By: Bloomberg     8th February 2018 Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51% owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting... 

Zimbabwe touts lithium, gold, diamonds potential at mining conference

By: African News Agency      7th February 2018 Zimbabwe's mineral resources have a huge potential to drive the economy in the future, with lithium, gold and diamonds seen leading the way, its mines minister Winston Chitando said. In a presentation to an annual conference on investing in African mining, running from February 5 to 8 in Cape... 

Increasing demand is platinum solution – Amplats

By: Martin Creamer     6th February 2018 Platinum group metals (PGMs) react positively to the amount of money spent on marketing, in a similar way to diamonds, Anglo American Platinum CEO Chris Griffith said on Tuesday. Speaking during a panel discussion on day two of the Mining Indaba, Griffith said PGMs were unlike copper, coal or... 

De Beers eyes Zimbabwe, Congo after gaining South African permits

By: Bloomberg     6th February 2018 De Beers may follow its resumption of exploration for diamonds in South Africa’s Northern Cape by looking in the longer term at opportunities in countries like Zimbabwe and the Democratic Republic of Congo. "I’m excited about what I’m seeing in Zimbabwe," said Phillip Barton, chief executive... 

Kennady embarks on 2018 winter drilling campaign

By: Henry Lazenby     5th February 2018 Takeover target Kennady Diamonds has started work on a 10 500 m 2018 winter drilling campaign at the Kennady North diamond project,  in Canada's Northwest Territories. Subject to a friendly C$176-million takeover offer by TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds that was... 

Congo's Gecamines wants to revise contracts with mining partners

By: Reuters     5th February 2018 Democratic Republic of Congo's state mining company Gecamines said on Monday it wanted to renegotiate contracts with its international partners this year to give the state a bigger share of the revenues. Congo is Africa's biggest copper and cobalt producer and also mines gold and diamonds, but it... 

Gem upbeat about number of large diamonds being recovered at Letšeng

By: Simone Liedtke     2nd February 2018 LSE-listed Gem Diamonds' CEO Clifford Elphick is pleased that the improvement in the recovery of greater than 100 ct diamonds at its Letšeng mine, in Lesotho, has continued into this year. "This is largely attributable to the ongoing technical improvements made at the Letšeng mine," he said on... 

BlueRock to defend itself against potential liquidation application

By: Simone Liedtke     2nd February 2018 Aim-listed diamond mining company BlueRock Diamonds says it has received notice that its former CEO Riaan Visser, and certain companies controlled by him, intend to apply to place the company's operating Kimberley-based subsidiary, Kareevlei Mining, in provisional liquidation.  The company has... 

Southern African countries, Botswana to play larger role in coal export market

By: Mia Breytenbach     2nd February 2018 Botswana, South Africa and Mozambique are beginning to play a much bigger role in the Southern African domestic and export coal market, says Botswana Mineral Resources, Green Technology and Energy Security Minister Sadique Kebonang. Speaking at the IHS Markit South African Coal Export Conference,... 

Lucapa completes first sale of the year

By: Megan van Wyngaardt     2nd February 2018 ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes and Rosas & Petalas have completed the first sale for 2018 from the Lulo diamond project in Angola, for this year. The sale of 4 170 ct of Lulo diamonds achieved proceeds of $9.14-million, representing an exceptional... 

Stellar Diamonds receives buyout offer

By: Megan van Wyngaardt     1st February 2018 Aim-listed Stellar Diamonds is in advanced negotiations regarding a possible share offer for the entire issued and to-be-issued share capital of the company by Australian exploration company Newfield Resources (NWF). Under the terms of the offer, Stellar's shareholders and the holders of rights... 

Pangolin starts drill programme at Botswana diamond projects

By: Anine Kilian     1st February 2018 TSX-listed Pangolin Diamonds has started a drill programme at its wholly-owned Malatswae and Moenyenana diamond projects, in Botswana. Drill results are expected to be announced by the end of the second quarter once analysed and confirmed by a qualified laboratory. 

Increased capital raise takes Artemis cash reserves to A$20m

By: Mariaan Webb     1st February 2018 Pilbara junior Artemis Resources has raised an additional A$2-million from institutional clients of Patterson Securities, taking the company’s cash reserves to more than A$20-million. The additional capital will be raised through the issue of 10-million fully paid ordinary shares at A$0.20 a... 

Creamer Media wows market with combined subscription offer

By: Creamer Media Reporter      30th January 2018 Creamer Media’s Research Channel Africa is a powerful information tool, providing real-time intelligence on industry and mining developments in Africa. Publishing Editor, Martin Creamer urges readers to “make a smart choice for 2018 and take up Creamer Media’s combined subscription offer”.  This... 

Industry restocking boosts De Beers’ cycle one rough diamond sales

By: Creamer Media Reporter      30th January 2018 Diamond miner De Beers achieved an “encouraging” sales performance in the first sales cycle of this year, with industry restocking contributing to increased demand for rough diamonds. The company sold $665-million worth of diamonds in the sales cycle, compared with sales of $445-million in the... 

Mountain Province to buy exploration-spinout Kennady Diamonds for C$176m

By: Henry Lazenby     30th January 2018 TSX- and Nasdaq-listed diamond producer Mountain Province Diamonds has signed a definitive arrangement agreement whereby it will buy its exploration spinout Kennady Diamonds in an all-scrip deal worth about C$176-million, the companies announced on Monday. News of the transaction buoyed Kennady's... 

Petra delivers record production but stifled by Tanzania blockage

By: Megan van Wyngaardt     29th January 2018 In the six months to December 31, LSE-listed Petra Diamonds saw a 10% production increase to 2.2-million carats across its operations, which was in line with guidance. This represented record production for any six-month period for the company. 

Wind of change sees DMR grant prospecting licences to De Beers 

By: Martin Creamer     29th January 2018 After a two-year procrastination, the Department of Mineral Resources (DMR) has approved 16 prospecting licence applications submitted by De Beers Consolidated Mines (DBCM). The licences are all in the Kimberley area of the Northern Cape, where DBCM began mining diamonds 130 years ago. (Also... 

Tharisa's Pouroulis meets Zimbabwe leader, seeks opportunities

By: Bloomberg     26th January 2018 Tharisa CEO Phoevos Pouroulis met Zimbabwe’s new President Emmerson Mnangagwa on January 18, as the Cyprus-based platinum and chrome mining company seeks opportunities in the country with the world’s second-biggest reserves of the metals. Pouroulis was accompanied to the meeting in Mnangagwa’s... 

Alrosa CEO, Angolan President discuss Catoca shareholding

By: Megan van Wyngaardt     26th January 2018 Alrosa CEO Sergey Ivanov and Angolan President João Lourenço this week held their second meeting to discuss issues related to the closing of the transaction to increase Alrosa's shareholding in Catoca Mining to 41%. "Recently, we have seen positive changes related to increasing of transparency... 

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