Peregrine Diamonds Prepares To Dig Deeper at Chidliak, NWT

Canadian junior miner Peregrine Diamonds has completed final preparations for the 2017 work program at its 100%-owned Chidliak Diamond Project near Iqaluit, Nunavut, Canada. Core drilling at the CH-6 pipe, slated to commence on July 5, will further delineate the kimberlite, with the objective of expanding the high grade CH-6 resource to a depth of 500 metres below surface. The current depth of the Inferred Resource in the 2016 Preliminary Economic Assessment (PEA) is 260 metres.

Mining and Exploration

Gemfields Urges Shareholders To Accept “Unfair” Takeover Bid from Fosun

China's Fosun International has increased its offer for UK gemstone miner and Fabergé owner Gemfields to $323 million (£256 million), and Gemfields is encouraging its minority shareholders to accept the takeover bid despite considering it unreasonable, in order to avoid an even more “derisory” buyout bid from its largest shareholder, Pallinghurst Resources. Last month, South African private equity group Pallinghurst made an unsolicited offer of 37.1p per share for the 62 per cent of Gemfields that it does not already own, offering investors no premium on the gemstone miner’s share price. In

Mining and Exploration

Kennady Diamonds: Positive Sampling Recoveries, Largest Stones To Date

Canadian junior miner Kennady Diamonds has announced "positive" diamond recovery results from sampling from the Faraday 3 and Faraday 1 kimberlites on its Kennady North Project, including the largest high-quality diamonds to date on the project, with a 7.78ct white gem-quality stone as well as numerous diamonds exceeding one carat. The samples were collected during the winter 2017 program that was designed to further delineate both kimberlites as well as to recover sufficient carats from Faraday 3 for valuation. The company summarizes the most relevant results as follows:

Mining and Exploration

Black Ownership Rule Change Hits South African Mining Stocks, S.A. Rand

The South African government has raised the minimum threshold for black ownership of mining companies to 30 percent in a surprise move that weakened the rand and knocked shares in the London-quoted mining groups Anglo American and Petra Diamonds. Shares in Anglo American have fallen sharply after South Africa announced changes to its mining regulations. They dropped 57p, or more than 5 percent to £10 after South Africa’s mineral resources minister Mosebenzi Zwane said miners have to raise their black-owned stakes to 30% from 26% under a revised version of its mining charter.

PoliticsMining and Exploration

De Beers Launches "World's Most Advanced Diamond Exploration Vessel" in Namibia

The world’s largest and most advanced diamond exploration and sampling vessel, the mv SS Nujoma, is ready to start exploring for diamond deposits in Namibian waters, following its official inauguration today, writes De Beers in a press release.

Mining and Exploration

Botswana Diamonds Reports Promising Drill Results at Frischgewaagt, S. Africa

Botswana Diamonds, a junior diamond exploration company focusing on Botswana and South Africa, has recovered 223 microdiamonds from 160kg of kimberlite drill core from the Frischgewaagt Project, located in South Africa. These results were modelled to an estimated grade range of 20 to 270 carats per hundred tons ("cpht") at a bottom cut off of 0.6 mm, with the largest stone being a white transparent crystal diamond falling in the -1.18+0.85 mm sieve.

Mining and Exploration

Gemfields Weighing Rival Offer from China’s Fosun

London-listed gemstones miner and Fabergé owner Gemfields said it has received an offer for the company from Chinese conglomerate Fosun International Ltd. Fosun made an initial proposal regarding a possible cash offer for the British precious stones miner, thereby emerging as a rival to Pallinghurst, whose recent takeover bid was considered to "significantly undervalue" the company. Gemfields said it was, “actively engaged in discussions with Fosun Gold regarding a possible competing offer for the entire issued and to be issued share capital of the company.”

Mining and ExplorationWorld NewsFinance and Trade

High-Value Production Fuels Dominion's 18% Jump in Q1 Revenue

Candian miner Dominion Diamond Corp. reports an 18% surge in revenue in fiscal Q1 (three months ended April 30, 2017), which the company attributes to mining the high-grade Misery Main pipe at the Ekati mine, coupled with with stable production at the Diavik mine. Consolidated carats recovered increased 17% to 2.15 million from 1.83 million carats in Q1 fiscal 2017. Dominion sold fewer carats than in the same period last year - 2.3 million compared to 2.6 million - but the average price per carat increased to $90 from $69.

Mining and Exploration

Mountain Province Diamonds Announces Executive Shakeup

Mountain Province Diamonds - a 49% participant with De Beers Canada in the Gahcho Kué diamond mine - today announced that CEO Patrick Evans has left the company, and has appointed David Whittle as interim president and CEO. According to a company statement, Evans' departure was a mutual decision. Evans served as CEO of Mountain Province for 11 years, and will continue as a director of the company as well as provide assistance to facilitate the transitional period. 

Mining and Exploration

Gem Diamonds Recovers Two More +100 Carat Stones from Letšeng Mine

James Campbell Defends Local Diamond Industry at Junior Mining Indaba

"With world diamond prices currently 'very unexciting' and with stagnant growth forecast for jewellery sales, junior miners should think long and hard before investing in diamond exploration projects, as there is a risk of decreased investment from the market." This is how Megan Van Wyngaardt of Mining Weekly Online summarized the presentation of Cadiz Securities economist Peter Major at the Junior Indaba held this week in Johannesburg, who warned that the diamond mining industry was currently “filled up”.

Mining and Exploration

Anglo American (owner 85% De Beers) Names New Chairman

Diversified miner and 85% owner of De Beers, Anglo American, has appointed Stuart Chambers to succeed John Parker as the miner's next chairman and carry on with its overhaul, the company announced in a press release. Mr. Chambers does not bring mining experience to Anglo; rather he was Chairman of UK-based IT and IP (intellectual property) firm ARM Holdings and of multinational consumer packaging company Rexam plc (now Ball Corporation) until 2016.

Mining and Exploration

Canadian Junior Tango Mining Earns $812/Carat from Latest Diamond Parcel

Canadian junior miner Tango Mining, which holds an interest in the Oena Diamond Mine, an alluvial diamond property, Northern Cape Province, South Africa, produced a total of 465 carats (311 stones at an average size of 1.498 carat per stone) during the period 18 April 2017 to 19 May 2017. They sold a total of 527 carats on tender in Johannesburg or in Dubai, achieving an average price of $812 per carat.

Mining and Exploration

ALROSA Diamond Revenues Up 33% to $472M in May, Down 5% on Year

Russian diamond mining giant ALROSA sold rough and polished diamonds worth $472.1 million in the month of May 2017, an increase of 33% compared to a year earlier, the company today announced. Revenue from rough diamond sales amounted to $467.6 million, while polished diamond sales earned the company $4.5 million. This represents a significant (51%) increase in rough diamond revenues over the $310.2 million sold in April. For the year thus far, January–May 2017, ALROSA’s rough and polished diamond sales have exceeded $2.13 billion − 5% below the same period in 2016.

Mining and Exploration

Venezuela and South Africa Strike Deal on Diamond Mining

After several years of talks and visits, Venezuela and South Africa finally signed an agreement on the organization of joint ventures in the business of mining, particularly diamonds, in Orinoco Mining Arc, south Venezuela, writes AVN. South African Deputy Minister of Mineral Resources, Godfrey Oliphant, and his Venezuelan counterpart, Víctor Cano, inked the agreement, with a focus on environmentally friendly technology. Earlier, Venezuelan President Nicolás Maduro informed that the work area covers 10,000 hectares, estimated to hold about 40 million carats of diamonds.

Mining and Exploration

Dominion Diamond Consolidates Share of Mining Area at Ekati

Dominion Diamond Corporation has consolidated its interest in the Buffer Zone Joint Venture at the Ekati Diamond Mine in Canada’s Northwest Territories through a buyout agreement with Archon Minerals Limited, its partner in the venture. The Buffer Zone contains 106 mining leases covering 89,184 hectares, and is contiguous with the Core Zone Joint Venture at the Ekati Diamond Mine. Of the 150 kimberlite pipes discovered to date at the Ekati Diamond Mine, 38 are in the Buffer Zone.

Mining and Exploration

Stellar Diamonds Aims To Sell Guinea Mining Assets for $2 Million

Stellar Diamonds plc, a diamond development company focused on West Africa, has entered into a conditional binding Term Sheet with BDG Capital Limited (“BDG”) in relation to the proposed sale of Stellar’s assets in the Republic of Guinea, the proceeds from which will be used to advance the development of Stellar's flagship Tongo-Tonguma mine development in Sierra Leone, "A project that has an estimated post-tax net present value of $104-million,”said Stellar CEO Karl Smithson.

Mining and Exploration

Kimberley Diamonds Shuts Down Another Mine - Lerala in Botswana

It took only a year and a few months for Australia's Kimberley Diamonds to run another mine into the ground: two years after closing the Ellendale Diamond Mine in Australia - source of Tiffany & Co’s prized yellow diamonds - and leaving in its wake a host of unpaid workers, contractors and a fat environmental cleanup bill, it

Mining and Exploration

ALROSA Boss Ivanov: Reducing Costs a Priority, Focus To Remain Mining

The 36-year-old son of one of Russian President Vladimir Putin’s close allies, Sergey Ivanov, acknowledges that some people may be skeptical about how he landed his latest job as CEO of the world's largest diamond mining company, write Bloomberg reporters Yuliya Fedorinova and Irina Reznik, but he is learning the trade and, "plans to win over investors by focusing on reducing costs at the state-controlled diamond producer." And his cost-cutting starts at the top, as Ivanov says he, "reduced my salary and overall compensation by 20 percent" and apparently declined certain benefits t

Mining and Exploration

Mountain Province Unearths Largest Gahcho Kué Diamond To Date: 85 Carats

Mountain Province Diamonds, a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, has unearthed the largest stone thus far produced by the mine: an 84.65 carat gem quality diamond. It also announced the recovery of a 53.90 carat gem quality diamond. The joint venture partners bid for the production of fancy coloured and special (+10.8 carat) diamonds on almost a monthly basis.

Mining and Exploration

Substantial 2017 Losses & Revenue Decline as Rockwell Diamonds Restructures

South African junior miner Rockwell Diamonds yesterday published its fourth quarter and annual results for FY 2017, with rough diamond revenues declining by 31% to $26.1million for FY2017, compared to FY2016 ($37.7 million), due chiefly to a 33% decrease in carat sales (18,976 carats to 12,789 carats).

Mining and Exploration

Diamcor Unearths 5.36 Carat Gem Quality Green Diamond

Canadian junior miner Diamcor Mining Inc. yesterday announced the recovery a 5.36 carat green gem quality octahedron rough diamond from the newly expanded facilities at the company’s Krone-Endora at Venetia Project in South Africa.

Mining and Exploration

Firestone Diamonds To Sell Botswana Assets To Diacore & Ex-De Beers CEO

Firestone Diamonds, an international diamond mining company with operations focused in Lesotho, has entered into a conditional option agreement to potentially sell off its Botswana operations, with the main asset being its interest in the BK11 mine, to Amulet Diamond Corporation for a reported US$5.1 million in cash.

Mining and Exploration

Despite Stock Sale ALROSA Q1 Down Y-o-Y

Russian diamond mining giant reported rough-diamond revenue its first quarter results for 2017. Group revenue is up 38% q-o-q but down 17% y-o-y to $1.5 billion (RUB 84.8 bn) for the three months that ended on March 31. Gem-quality rough sales fell by 18% to $1.35 billion (RUB 76.1 bn), with the remaining revenue coming from industrial grade diamonds, gas sales and other products.

Mining and Exploration

Lucapa’s Mothae Mine on Track 2018

Lucapa Diamond Company secured $14.2 million (AUD $19 million) in funding for the acquisition and advancement of the high- value Mothae Kimberlite Diamond Project located in the southern African country Lesotho. The funding sets Lucapa on track to commence commissioning Mothae in the first quarter of 2018 under a staged, low-risk development plan.

Mining and Exploration

ALROSA Unearths 60+ Carat Rough Diamond

Russia’s dimond mining giant ALROSA recovered a 60.32 carat rough diamond which experts believe could yield up to US$174.5 thousand per carat.  The Octahedron crystal is transparent with a yellow hue and was recovered at Mirny’s Mining and Processing Division, from the Gornoye alluvial deposit. It is the only plant in Russia which processes rough diamonds recovered by dredging fleet.

Mining and Exploration

Diamcor Holds Second Rough Diamond Sale from Expanded Krone-Endora at Venetia

Diamcor Mining Inc. announce the results of its second tender and sale of rough diamonds from the newly expanded facilities at the Company’s Krone-Endora at Venetia Project in South Africa. Diamcor sold 3,265.07 carats of rough diamonds at the second sale of the quarter for gross proceeds of $702,635.70, resulting in an average price of $215.20 per carat. The tender included the sale of three specials (+10.8 carats): 12.80 ct, 12.89 carat gem quality, and a 13.51 ct rough diamond.

Mining and Exploration

Zimbabwe Gov’t Takes Control of Its Diamond Industry (again)

Zimbabwe has taken over income from all diamond mining activities in the country after injecting $80m into the Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to run diamond mining activities, reports miningmx. The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to the fiscus” in a time of decline in gem mining operations throughout the country.

Mining and Exploration

ALROSA Commits to Develop Luaxe Diamond Mine, Largest in Angola

Russia's diamond mining giant ALROSA has confirmed it will participate in the development of the newest and largest diamond deposit in Angola - the Luaxe Kimberlite. Luaxe was discovered in 2013 when the Angolan national diamond mining company Endiama and ALROSA carried out the correlation study to identify Angola's diamond potential. The geological research points to reserves evaluated at 350 million carats and a mining lifespan of 30 years, with the potential to produce over 10M carats annually for an estimated value of $35 billion. Production could commence by the end of the decade.

Mining and Exploration

Gem Diamonds Latest 98 Ct. Lesotho Recovery and Positive Q1 Results

Gem Diamonds - a leading global diamond producer that owns 70% of the Letšeng mine in Lesotho, known for its high-value diamonds, and 100% of the Ghaghoo mine in Botswana, which produces diamonds at the lower-end of the price scale – announced the recovery of a 98.42 carat high quality D-color Type II diamond which will accompany the previously announced 80.58 carat D-color type II for sale in June. 

Mining and Exploration

Trans Hex Shelves Bloeddrif (SA)

As a result of declining diamond grades and sizes and increased costs, diamond miner Trans Hex has decided to to put its Bloeddrif mine, part of the Lower Orange River operations in South Africa on hold. According to Rough & Polished, the company said taking action is necessary to contain further losses and focus on Trans Hex’ Baken mine. The Bloeddrif mine employs 115 people.

Mining and Exploration

Undeveloped Ekati Pipe May Hold 16M cts.

Exploration at the Leslie pipe, an undeveloped section of Dominion Diamond Corporation's operations at the Ekati mine in Canada has revealed a potential of 16.3 million carats at a projected rough-diamond price of $85/ct. According to the company a parcel of 224 carats were recoverd from roughly 680 tonnes of Kimberlite. "The Leslie pipe is our highest-priority pipe amongst kimberlites that have been bulk sampled, as demonstrated by the announcement of its maiden resource”, said Jim Gowans, Chairman of the Board. 

Mining and Exploration

Angola Wet Season Affects Lucapa Lulo Sale

Lucapa Diamond Company completed it’s fourth sale in 2017 from the alluvial diamonds from the Lulo Diamond Project in Angola, achieving an additional $1.3 million in revenues. The miner sold 1,878 carats at an average price of $695 per carat, lower than the $1,317 average the previous month. The latest sale brings total proceeds from the Lulo diamond sales in 2017 to $14.5m, reaching an average of $1,747 per carat.

Mining and Exploration

Stornoway Announces 1 Million Carats Produced at Renard

De Beers Cycle 4 Rough Diamond Sales ($520M) Steady, Lower than 2016

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fourth sales cycle of 2017, provisionally valued at $520 million. The fact that sales remain solid as the summer slowdown looms indicates continuaing upbeat sentiment in the manufacturing sector, spurring demand. Cycle 4 sales were down 11% from the revised figure of $586 million sold at the last sight (contract sales session) and slipped 18% from the fourth cycle a year ago.

Mining and ExplorationRough Market

Hostile Takeover Likely on the Horizon for Dominion Diamond Corp.

In late March Canadian mining company Dominion Diamond Corp., the world's third largest diamond producer by market value, received an unsolicited $1.1 billion bid from a privately held conglomerate, Washington Corporations (WashCorp), based in Montana. Since soundly rejecting Washington’s offer, and the surge in share prices, Dominion is laying low.

Mining and Exploration

Lucara Earns $55 Million from First Exceptional Diamond Tender of 2017

"When you’re selling your offcuts for almost $20 million, you know something is going right," writes Thomas Biesheuvel for BloombergPursuits. "Lucara Diamond Corp. just sold a 373.7-carat diamond for US$17.5 million.

Mining and ExplorationRough Market

Low Value April Trade Pulls ALROSA Sales Down in First Four Months

Russian diamond mining giant ALROSA reports a drop in rough diamond sales in April 2017, earning US$310.2 million as, "the share of small-size, inexpensive rough diamonds was significantly higher than early in 2016." Polished diamond sales in April amounted to US$7.6 million. In January–April 2017, ALROSA sold 16.9 million carats of rough and polished diamonds, which is 7% higher than the sales in January-April 2016.

Mining and ExplorationRough Market

Mountain Province Diamonds Q1 Results: $38M, Strong Grades, Soft Prices

Mountain Province has announced its first quarter results (period ended March 31, 2017) from diamonds sold from the new Gahcho Kué mine, of which it owns 49% in a joint venture with De Beers. Mountain Province earned approximately US$37.7 million from three sales in Antwerp of approximately 522,000 carats - for an average price of $72 per carat.

Mining and Exploration

Firestone’s Third Liqhobong Tender in Antwerp, May 15 to 19

In October Firestone Diamonds announced the recovery of its first diamond from the Liqhobong Diamond Mine in Lesotho since the the re-commissioning of the new plant. Liqhobong is owned 75% by Firestone and 25% by the Government of Lesotho. Firestone has been ramping up production since then, and will hold its third tender in Antwerp as planned.

Mining and Exploration

Diamond Mining Giants ALROSA & ENDIAMA Talking Investment in Angola

Angolan diamond mining company ENDIAMA and Russian miner ALROSA announced on Tuesday in Luanda their intention to conduct studies to promote additional investments in the exploitation of kimberlites in Angola. The announcements came from the chairmen of ENDIAMA, António Carlos Sambula, and ALROSA, Sergei Ivanov at the end of an audience with the Angolan Vice-president, Manuel Domingos Vicente. Sergei Ivanov said business with Angola is flourishing and data indicates that 2016 was better than previous year, with net profits of US$137 million, as well as better quality of extracted diamonds.

Mining and Exploration

Stornoway Diamond Sells $35.4M in First Full Quarter

Canadian miner Stornoway Diamond Corporation earned US$35.4 million (C$48.5m) from the sale of 459,126 carats rough of stones for the quarter ended March 31, 2017, the first full operating period for the Renard Mine. Commercial production was officially declared on January 1, 2017.

Mining and Exploration

End of the Road for DiamondCorp? Miner Files for Administration

DiamondCorp, the UK-based South African junior diamond miner that underwent an autumn of misfortune including fires and floods at its Lace Mine, has filed to appoint administrators of the company after a business rescue plan failed to result in a solution to their liquidity issues. The decision of the listed holding company to go into administration comes despite being months away from steady-state production, as local bondholders and the Association of Mineworkers and Construction Union (ACMU) frustrated it efforts to refinance, writes Business Day.

Mining and Exploration

2017 Global Natural Diamond Production Forecasted at 142M Carats Worth $15.6B

This article is reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

Mining and ExplorationRough MarketIn-depth

Gem Diamonds Recovers Another Exceptional Stone: 80-carats of (D-Color) Purity

Lucara Diamond's Revenues Fall 50% in Q1, First 2017 Big Stone Tender Underway

Lucara Diamond Corp. yesterday (May 2) today reported first quarter revenues of $26.1 million, or $405 per carat, which represents nearly a 50% drop from the $50.6 million earned at $649 per carat in Q1 2016. The company explains the results as follows: "The decrease in revenues in Q1 2017 compared to Q1 2016 was due to a lower volume of carats being sold and a decrease in the carat weight of specials sold. A larger volume of +10.8ct specials were sold in Q1 2016 (6,936 carats) compared to Q1 2017 (2,379 carats), which reflected the above average recoveries of specials during Q4 2015.

Mining and Exploration

Kennady Diamonds to Secure $10M Through Private Placement

Canadian junior miner Kennady Diamonds, whose Kennady North diamond project is located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, announced the terms of a non-brokered private placement whereby the Company plans to raise approximately C$10,000,000 (US$7.3 million) through the issuance of a combination of common shares and flow-through common shares. The common shares to be issued under the offering have been priced at C$3.25 per share and the flow-through common shares have been priced at C$4.38 per share.

Finance and TradeMining and Exploration

S&P’s Negative Outlook for Botswana Cites Dependence on Diamonds

Standard and Poor's has reiterated its negative outlook rating for Botswana as a result of, "The country's narrow economic base, which relies heavily on the diamond sector and is vulnerable to external shocks, despite efforts to diversify." Diamonds account for approximately 80% of Botswana’s total exports and about one-third of its gross domestic product, and "remains its main economic locomotive".

Mining and ExplorationEconomyIn-depth

Stellar Diamonds Signs Tribute Mining Agreement for Tongo-Tonguma Mine, Sierra Leone

West Africa-focused Stellar Diamonds Project announced it had signed a tribute mining and revenue share agreement with junior Octea Mining for the Tongo-Tonguma diamond project in eastern Sierra Leone.

Mining and Exploration

Rough&Polished Investigation: World of Diamonds Group and its Phantom Mine

Elena Levina of Rough&Polished has dropped a bombshell in the form of an investigative report entitled, "The virtual miner - investigation", documenting the incredible scam that goes by the name of the World of Diamonds Group (WOD). Following up on an interview (by Aruna Gaitonde, Editor-in-Chief of Rough&Polished's Asian Bureau, entitled "A diamond surprise - Russia comes to know it has a brand-ne

Mining and ExplorationIn-depthPolished

Firestone Diamonds Recovers 103K cts in Q3 with Improving Grade, $14M Sales

Firestone Diamonds has announced its quarterly update on commissioning activities at its Liqhobong Diamond Mine in Lesotho for the quarter ended March 2017 (Q3 of the Company's financial year): with commissioning activities largely complete and final ramp up progressing on track, during the quarter ended March 2017 the plant treated 639,000 tons (Q2: 402,000 tons), achieving nameplate production rates on numerous occasions. 103,000 carats were recovered in the quarter at a grade of 16.1 carats per hundred tons (cpht), against 58,000 carats in Q2 at a grade of 14.1 cpht.

Mining and ExplorationRough Market

Mountain Province Q1 Diamond Production 424,830 Cts (49% Gahcho Kué)

Mountain Province Diamonds announced the production for the first quarter ended March 31 from the Gahcho Kué Diamond Mine. The GK Mine declared commercial production on March 1. For the three months ended March 31 the GK Mine treated approximately 492,000 tons of ore through the process plant and recovered approximately 867,000 carats on a 100% basis for an average grade of approximately 1.76 carats per ton.

Mining and Exploration

Botswana Diamonds & ALROSA JV Awarded Six New Prospecting Licenses

London Aim-listed Botswana Diamonds (BOD) has announced that Sunland Minerals - its joint venture (JV) with Russian diamond miner ALROSA - has been awarded six new prospecting licences in Botswana. Four are in the Central Kalahari Game Reserve (CKGR) and two are in the Orapa kimberlite province and extend to the end of March 2020. Those in the CKGR cover 3,135 sq.km. and those in the Orapa area cover 482 sq.km. The areas were selected following a detailed review of historical data by the BOD and ALROSA team. 

Mining and Exploration

Petra Diamonds' Output Steady in Q3 as Production Expanding

Petra Diamonds reports its rough diamond output in Q3 2017 (January 1 - March 31 2017) remained steady at 999,768 carats, from 995,905 carats a year earlier; however, the company arrived there by increasing Run of Mine (ROM) production 18% to 760,916 carats while tailings production fell 32% to 238,852, in part due to a planned reduction at Finsch and in part due to heavy rain restricting surface recovery.

Mining and Exploration

De Beers Increases Q1 2017 Production 8% to 7.4M Carats

Diversified miner Anglo American has released its Q1 2017 production report, announcing De Beers rough diamond production during the peariod increased by eight per cent over Q1 2016 to 7.4 million carats, "reflecting the contribution of Gahcho Kué in Canada, as well as increases in response to improved trading conditions." Q1 2017 production fell slightly from 7.8 million carats produced in Q4 2016.

Mining and Exploration

ALROSA Talks Contracts with Clients; Dividends Again To Be 50% of (Much Higher) Profit

Sergey Ivanov, the President of ALROSA, participated in the extraordinary business meeting with the company’s long-term clients dedicated to the new contract period, the company writes in a press release. Participants of the meeting from more than 70 Russian and foreign companies had a chance to discuss with ALROSA’s management diamond market trends, the existing market environment, plans for the near future, and the company’s sales structure. A new 3-year contract period 2018-2020 is to start next year.

Mining and Exploration

Rio Tinto’s Rough Diamond Production Falls 8% in Q1

Against the background of a bear market for iron ore in full tilt, a 43-day strike at the world's largest copper mine causing its output to fall 37% and the Group edging closer to an exit from thermal coal after winning approval from Australia’s foreign investment regulator to sell the bulk of its mines for $2.45 billion, the Rio Tinto Group's Q1 diamond output dropped 8% year on year to 4.152 million carats.

Mining and Exploration

ALROSA’s Rough Diamond Production Up 9% in Q1

ALROSA's Q1 2017 diamond production totalled 8.9 million carats, up by 9% year-on-year, to 8.9 million carats from 8.2m.cts. in Q1 2016, which is in line with its 2017 production plan of 39.2 million carats (+5% y-o-y increase). The growth in production was driven by ramping up diamond mining at Aikhal, Mir, International, Udachny underground mines and also by processing of higher grade ore from the Jubilee pipe at its Aikhal Division in Yakutia - an open pit mining operation and its largest, good for 29% of total production.

Mining and Exploration

Zimbabwe NGO Has Zero Faith in ZCDC Diamond Mining Capacity

Zimbabwe NGO Centre for Natural Resource Governance (CNRG) said the Zimbabwe Consolidated Diamond Company (ZCDC) does not have the capacity to mine diamonds from kimberlite sources, reports Rough-Polished, adding that the wholly owned state company set up early last year had no equipment of its own, and would likely turn to foreign investors to develop in Tsvingwe (Penhalonga) in Manicaland Province, which is believed to hold kimberlitic diamonds. “A 50/50 joint venture is likely to be negotiated between ZCDC and its partner.

Mining and Exploration

Rockwell Diamonds: Business Rescue Filing Stays Asset Liquidation

South African junior miner Rockwell Diamonds has managed to temporarily stay an interim liquidation by applying for business rescue while it waits for a hearing in the Kimberley High Court regarding the order, currently scheduled for April 19.

Mining and Exploration