Partnership for Prosperity: The Story Behind Sierra Leone’s 476-Carat Diamond (Part 2)

On November 9 in Sierra Leone, Meya Mining recovered a 476-carat Type IIa, D color diamond (the highest category of purity & color) from the very first sample of ore they put through their processing plant. An astounding recovery.

Mining and Exploration

Gem Diamonds’ Sale of Ghaghoo Mine Stalls, Will Seek New Offer

In Gem Diamonds’ Half Year 2017 results, announced on 17 August 2017, shareholders were notified that an offer to acquire 100% of the Ghaghoo asset ("Ghaghoo") had been received and was being considered by the Board.
Discussions have not resulted in agreement between parties and this offer has been withdrawn, the company announced this morning.

Mining and Exploration

Merlin Diamonds Readies XRT Sorting Machine to Process First Kimberlite Ore

Merlin Diamonds is getting ready to process its first kimberlite ore through its new Tomra X-Ray Transmission (XRT) machine at its Merlin Diamond Mine in the Northern Territory, designed to enable the recovery of larger diamonds. Merlin announced on December 1 that the Tomra X-Ray Transmission Machine had been delivered to the mine site and would be commissioned in December. In addition to larger diamonds, the machine is also expected to recover more low luminescing diamonds than previously possible.

Mining and ExplorationTechnology

Lower Prices from Liqhobong Diamonds Push Firestone To Revise Mine Plan

Firestone Diamonds commenced production at the Liqhobong diamond mine in Lesotho in October 2016, developing the new mine on time and under budget and hitting its early operational targets; however, lower than expected diamond prices achieved have forced the young miner to revise their plan. They held their first sale in Antwerp in February 2017, and on 30 June 2017 achieved commercial production. In late September, they reported they have sold all 505,706 carats recovered, for US$41.3 million, at an average value of US$82/ct.

Rough MarketMining and Exploration

Lucara Diamond Projects $170-200M Revenue, 280K Carats Mined in 2018

Lucara Diamond has published its Operating Outlook for 2018, forecasting revenue at $170 million to $200 million, excluding the sale of high-quality exceptional stones, from 270,000 - 290,000 carats mined, bringing them back up to projected 2017 levels. Production levels in 2017 had to be scaled back as a result of extracting less ore than planned from its Karowe deposit, forcing the company to focus on mining waste material to ensure future access to larger volumes of ore from the lower-grade but higher-value south lobe.

Mining and Exploration

Peregrine Diamonds Confirms High-Grade Kimberlite Extends at least 280m Deeper

Peregrine Diamonds reports that its 2017 resource expansion drill program has confirmed the high-grade CH-6 kimberlite extends from surface to 540 metres below surface (mbs). This represents an additional 280 metres below the 260-metre depth of the current CH-6 Inferred Resource announced on April 7, 2017. The CH-6 kimberlite remains open below 540 mbs, the current limit of drilling. Tom Peregoodoff, Peregrine’s President and CEO, said: “The results confirm that the high-grade CH-6 kimberlite extends well below the current resource base of 260 metres.

Mining and Exploration

ALROSA May Play Role in Zimbabwe Diamond Mining Under New Regime

"ALROSA will play its role in diamond mining in Zimbabwe", said Zimbabwe's ambassador to the Russian Federation, Mike Nicholas Sango, to TASS news agency. Following Robert Mugabe's resignation and the transfer of power to former vice-president Emmerson Mnangagwa, countries and natural resource companies will be testing the waters of the new administration, and Russia's ALROSA will apparently be one of them.

Mining and Exploration

Arctic Star Commences Diamond Exploration in Finland

Arctic Star Exploration Corp has started its diamond exploration program on its Timantti diamond project in Finland, the company stated last week.

Mining and Exploration

The discovery of these two stones [709 & 476-carat] means we have immense resource potential. There is excellent investor trust in Sierra Leone. The proceeds from the sale will have a knock-on effect for investors and government, and a direct impact on the community where they were found. It highlights the great opportunity to partner with Sierra Leone in terms of resources. It is all about getting the right taxes from the right value. Koin knows exactly what we want from this remarkable diamond - the best price, great publicity for our diamonds and the opportunity to showcase Sierra Leone’s transparency and accountability to the people.

- Alhaji Minkailu Mansaray, Minister of Mines and Mineral Resource of Sierra Leone, in conversation with The Diamond Loupe for Part 2, "Partnership for Prosperity".

The Diamond Loupe

De Beers Puts Voorspoed Mine (S.A.) on Market, Looking For Buyers

Mining and Exploration

Partnership for Prosperity: Trustco Resources & Germinate SL Ltd. on Sierra Leone's 476-Carat Diamond

“We have the diamond,” said Leora Halfon of tender house Koin International on the sidelines of the African Diamond Conference, showing us a photo of the 476-carat, Type IIa, D-colored diamond just unearthed by Meya Mining in Sierra Leone. “It’s already in Antwerp.”

Mining and ExplorationSustainability

Angolan Diamond Miner Catoca Targets 8M Rough Carats This Year

Mining and Exploration

Gem Diamonds Unearths 202-Carat, D Color Type IIa Diamond from Letšeng Mine

Namibian Ice Heats Up Marine Mining Plans

Interest in mining Namibian waters for diamonds is running hot, as yesterday (Nov. 20) Canadian miner Diamond Fields International (DFI) announced it is set to resume its mining activities off the coast of Namibia in 2018, while Norwegian shipbuilder Kleven signed an MoU with De Beers Marine Namibia for building an offshore vessel purpose-designed to support seabed mining operations. 

Mining and Exploration

Lucapa's Lulo Diamonds Earn $7.3M, $1,770 Per Carat at Latest Sale

Lucapa Diamond Company and its partners, Endiama and Rosas & Petalas, have completed their eighth sale in 2017 of alluvial diamonds from the Lulo Diamond Project in Angola, earning gross proceeds of US$7.3 million (A$9.6 million), representing an average price per carat of US$1,770 (A$2,332) from 4,126 carats. The latest sale brought gross proceeds from Lulo diamond sales to date in 2017 to US$31.6 million at an average price per carat of US$1,668. 

Mining and ExplorationRough Market

Botswana Diamonds' 8 Kimberlites at Free State Project 0.3 to 1.5 Hectares

Results from survey work conducted at Botswana Diamond's Free State project, located between Bloemfontein and Kimberley, had indicated that sizes of kimberlites there ranged from 0.3 hectares to 1.15 hectares, the board of Botswana Diamonds announced on Friday. Following their announcement regarding the re-discovery of eight Group 1 kimberlites, Geofocus undertook detailed ground geophysical survey work aimed at determining the surface area of these kimberlites.

Mining and Exploration

Heads Roll at ALROSA Following Mir Mine Incident, Profits Fall

ALROSA President Sergey Ivanov signed an order on disciplinary sanctions to the company management who committed violations of industrial safety requirements that conduced to the disaster at Mir mine on August 4, 2017. Director and Chief Engineer of ALROSA’s Mirny Mining and Processing Division are suspended from their positions with subsequent dismissal from the company. On the financial side, net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three months ending September 30.

 
 
 
 
 
 
Mining and Exploration

ALROSA To Increase Stake in Angola’s Catoca to 41%, Commercial Prod'n at Luaxe after 2020

Russian diamond-mining giant ALROSA and its partners may commence commercial production at the Luaxe diamond deposit in Angola after 2020, "The test drilling is slated for late 2018 - early 2019. However, if we are talking about industrial production, it will certainly happen after 2020," said ALROSA President Sergey Ivanov. “Typically, the development of any major deposit from the project stage to the industrial production stage takes about between four and seven years”, Ivanov said.

Mining and Exploration

African Diamond Conference in Brussels Highlights Antwerp Diamond Year

The African Diamond Conference (ADC), a joint initiative of Belgium's Federal Public Service (FPS) Foreign Affairs and the Antwerp World Diamond Centre (AWDC), took place yesterday at the Egmont Palace in Brussels. With nearly 400 in attendance, the ADC featured a broad range of speakers from across the entire diamond pipeline - from mine to finger - as well as diamond industry stakeholders.

World NewsSustainabilityMining and ExplorationRetail and Consumer Confidence

Sierra Leone’s 477ct “Meya Prosperity” Diamond to be sold at Tender

Following the unearthing of the 476.7-carat diamond, dubbed the Meya Prosperity, at the Meya deposit in the Kono District of Sierra Leone, Meya Mining announced the appointment of Koin International as the marketing and sales agent for the exceptional diamond.

Mining and Exploration

LUCAPA Recovers Eighth +100ct Diamond in Angola

Australian junior miner Lucapa Diamond Company and its partners, recovered a 129.58 carat rough diamond from the Lulo Diamond Project in Angola, the eight stone above 100 carats since commercial production started in 2015.

Mining and Exploration

Another Huge Diamond, 477 Carats, Recovered in Sierra Leone

Miners in Sierra Leone have unearthed a 476.7-carat diamond, reports the country's National Minerals Agency. Mining company Meya, owned by Namibia's Trustco Resources (51%) and Germinate Sierra Leone Ltd., discovered the stone in the diamond-rich eastern district of Kono.

Mining and Exploration

ALROSA Recovers Three Large Diamonds from Jubilee Pipe in October

ALROSA today announced the recovery of several large rough diamonds from Jubilee (Yubileynaya) pipe at Aikhal Mining and Processing Division in October.

Mining and Exploration

Production at Grib Diamond Mine to Increase 16%, Sales To Follow

Production from the Grib diamond mine, the source of the stones sold in Antwerp by Grib Diamonds, is expected to reach 4.4 million carats in 2017, representing a 16% increase over the 3.8 million carats last year. This is according to Alexey Genkin, general manager of Grib Diamonds in Antwerp, who informed Rapaport News of the increase during a recent visit to the Israel Diamond Exchange. "The plan is to raise production to 4.9 million carats in 2018, he said in the interview", and indicated that sales should increase in parallel with production.

Mining and ExplorationRough Market

BlueRock Diamonds Achieves Record Sales of $226K at $337 Per Carat in S.A.

BlueRock Diamonds plc, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, achieved record monthly sales in October 2017 of US$226,400 (ZAR 3.25 million), also achieving a record monthly number of carats sold at auction of 609.84. The October parcel was sold at an average of US$371.25 per carat, compared with the average price realised for the first 9 months of 2017 of US$336.65 per carat. The diamonds produced and included in October’s sales tender resulted in a grade of 2.64 cpht.

Mining and Exploration

Indian State Miner To Enter Bidding Fray for Bunder Project

Following reports surfacing just over a week ago that Indian resource conglomerates Vedanta (controlled by London-based Indian Anil Agarwal) and Adani (controlled by Gautam Adani) might bid for a $9 billion diamond project in the country that was abandoned by Rio Tinto this year, Reuters is now reporting India’s state-owned miner NMDC Ltd plans to place a $9 billion bid for the diamond project.

Mining and Exploration

Lucara Mines Fewer Carats, Earns More Per Ct. in Q3; PEA for Karowe Underground Mine Positive

Vancouver-based Lucara Diamond with operations in Botswana made several announcements yesterday (Nov. 2), starting with news of its positive Preliminary Economic Assessment for taking its Karowe Mine underground, which would extend the life of the mine another ten years to approximately 2036.

Mining and ExplorationRough Market

Washington Companies Closes Acquisition of Dominion Diamond

Dominion Diamond Corporation and The Washington Companies yesterday announced the completion of the latter's takeover of the Canadian diamond miner, officially acquiring all of the issued and outstanding common shares of Dominion for US$14.25 per share in cash. In total it amounted to a $1.2 billion acquisition. Dominion will operate as a standalone, private company, and Patrick Evans has been appointed Chief Executive Officer, effective immediately.

Mining and ExplorationFinance and Trade

De Beers To End Operating Life of Victor Mine in Q1 2019

The Victor diamond mine in northern Ontario, Canada, will reach the end of its mining and production activities in the first quarter of 2019, once the current open pit is depleted and in line with the original feasibility study and current mine plan, De Beers Group announced Nov. 1. Production at Victor mine commenced in July 2008.

Mining and Exploration

De Beers To Recommission Damtshaa Mine in Botswana

According to a De Beers spokesperson, the diamond miner is set to bring the Damtshaa Mine in Botswana - closed since 2015 - back into operation during the fourth quarter, reports Rapaport News. Opened in 2003, Damtshaa Mine was placed into care and maintenance in December 2015. De Beers is now set to recommision the mine and expects to be back at full production by January. Just over 300,000 carats were recoverd there during its last full year of operation in 2014, making it one of De Beers smaller mines, and more than 31 million have been produced since the mine opened.

Mining and Exploration

Indian Billionaires Considering Bids for Bunder Diamond Project

It appears that Indian resources conglomerates Vedanta (controlled by London-based Indian billionaire Anil Agarwal) and Adani (controlled by fellow billionaire Gautam Adani) are considering bidding for a $9 billion diamond project in the country that was abandoned by Rio Tinto this year, reports Reuters. The central state of Madhya Pradesh was likely to invite bids in the first week of November to explore the deposit, which is estimated to have 32-34 million carats of diamond reserves, a senior state government official said. “We’re advertising only for that area in which (Rio Tint

Mining and Exploration

Gem Diamonds' Production & Sales Spike in Q3

Gem Diamonds, which owns 70% of the Letšeng mine in Lesotho, reports they recovered 30,774 carats during Q3 2017 (July 1 - Sept. 30 2017), up 23% from 24,999 carats in Q2 2017 and up 26% YoY, as the grade of recovery increased 14% to 1.88 cpht. This is a welcome return to form for Letšeng. During the three month period, the junior miner achieved an average price of $1,858 per carat, up 4% from $1,779 per carat in H1 2017. This included an average price of $2,397 per carat for the July tender, making it the highest achieved US$ per carat for a tender since September 2015. 

Mining and Exploration

Lucapa Unveils Optimistic Plan for Mothae Mine, Continues Drilling at Lulo

Lucapa Diamond last week adopted a new development plan for the high-value Mothae kimberlite diamond project that foresees increases in targeted production, cash flows and mine life. The improvements to targeted production and cash flows include: a 22% increase in diamond production to 498k carats, a 30% increase in kimberlite material mined to 25 million tons and a 12% increase in mine life to 13.5 years.

Mining and Exploration

De Beers JV Plans To Close Four Diamond Mines in Namibia by 2022

Namdeb, a 50/50 joint venture between the Namibian government and Anglo American’s diamond unit De Beers plans to close four mines by 2022 in the southern African country, reports Reuters following a statement made by a union official in a local newspaper. The Namibian Sun quoted Mineworkers Union of Namibia Oranjemund branch chairperson Mbidhi Shavuka as saying “We understand that it is the nature of the resource; diamonds are finite." The mines affected are Elizabeth Bay Mine, which will be shut down at the end of 2018, Daberas at the end of 20

Mining and ExplorationRough Market

Antwerp's AWDC Pays Stornoway Diamond a Visit at Renard Mine

In the framework of the City of Antwerp's economic mission to Canada this week, the Antwerp World Diamond Centre paid a visit to one of the Antwerp diamond industry's major trade partners, Stornoway Diamond, at the miner's new Renard Mine in Quèbec.

Mining and Exploration

Karelian Granted Permit To Explore Source of Green Diamond in Finland

Karelian Diamond Resources has been informed that TUKES (The Finnish Mining Authority) has granted Karelian Diamonds an exploration permit in the Kuhmo region of Finland, where it discovered a green diamond at the start of the year. The permit covers an area of 601.68 ha surrounding the location where the Company discovered a diamond in till (31 January 2017). The permit has been granted for a period of four years.

Mining and Exploration

Higher Recovered Grade Has Mountain Province Beating Production Forecasts

Canadian miner Mountain Province Diamonds, a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, announced in its third quarter Production Report it is well on its way to exceeding its full-year 2017 production guidance. In the third quarter of 2017, the GK Mine treated approximately 823,000 tons of ore through the process plant (14% greater than current forecast) and recovered approximately 1,825,000 carats on a 100% basis (19% greater than current forecast) for an average grade of approximately 2.22 carats per ton which, according

Mining and Exploration

Firestone Diamonds Surpasses Production Targets at Lesotho Mine

Firestone Diamonds reports 199,007 carats were recovered Liqhobong Diamond Mine in Lesotho (owned 75% by Firestone and 25% by the Gov't of Lesotho) during the quarter ended 30 September 2017, ending the period, "slightly above all our anticipated production targets", said CEO Stuart Brown. Included in the recoveries were the largest diamond recovered to date, a 134 carat light yellow stone, as well as 45 specials (larger than 10.8 carats). This compares to 54 specials in the previous quarter. The 134 carat yellow diamond will be included in its next sale in Antwerp. 

Mining and Exploration

De Beers, ALROSA Combine to Increase Rough Production 15% so far in 2017

With De Beers leading the charge by increasing rough production 46% in Q3 and 29% for the first nine months of the year, as ALROSA increased production 6% thus far in 2017, the two diamond mining giants together have churned out 54.8 million carats in the first nine months of 2017, a 15% increase over the 47.5 million carats during the same time frame last year.

Mining and Exploration

Petra Diamonds' Production and Sales Down in Q1 2018, On Target for Projected Output

Petra Diamonds Ltd., the London-based diamond miner with five mining operations in South Africa and Tanzania, has reported that Q1 FY 2018 (for the period from July 1 to Oct. 20 2017, covering production and sales from July 1 to Sept. 30 2017) production was down 4% to 1,053,817 carats (Q1 FY 2017: 1,097,523 carats) mainly due to a planned reduction in tailings production at Finsch and Kimberley Ekapa Mining Joint Venture (“KEM JV”).

Mining and ExplorationFinance and Trade

ALROSA Unearths 34.17-Carat Fancy Yellow Diamond

ALROSA’s affiliate Almazy Anabara has extracted a large 34.17-carat yellow diamond. It is the largest fancy-colored rough diamond extracted by the company this year, writes the Russian mining giant. The rough diamond, extracted from Ebelyakh alluvial deposit, measures 20.17 х 19.65 х 15.1 mm. It is a transparent intense yellow crystal with a small inclusion in the intermediate zone. Before the end of October, it will be delivered to the United Selling Organization ALROSA (USO ALROSA) in Moscow, where the company specialists will give it a more detailed and accurate assessment.

Mining and Exploration

Auction of 709-Carat "Peace Diamond" To Benefit People of Sierra Leone

The Government of Sierra Leone has appointed the Rapaport Group as the marketing and sales agent of the "Peace Diamond". The 709-carat diamond, discovered by a local pastor and diamond digger in the village of Koryardu, is the third-largest diamond ever found in Sierra Leone and the 13th-largest ever to be unearthed. The Peace Diamond is special because it is a development diamond, Rapaport said in a statement. Over 50% of its sale value will directly benefit the community where the diamond was discovered and the people of Sierra Leone.

Rough MarketMining and ExplorationSustainability

North Arrow Discovers Diamonds at Mel Project in Canada

Last June, North Arrow Minerals - a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada - announced the start of a $3.2M exploration program at the company’s 100% owned Naujaat and Mel Diamond Projects, Nunavut, Canada. At the Mel Project North Arrow, they were going to conduct detailed prospecting and geophysical surveys of high priority kimberlite indicator mineral (KIM) targets, and have now announced the discovery of the ML-8 kimberlite. A 62.1 kg sample of the ML-8 kimberlite has returned 23 diamonds larger than

Mining and Exploration

Rio Tinto: Increased Diamond Production in Q3, Lowers Top of Forecast

Australian-British multinational mining conglomorate Rio Tinto has released its third quarter production results, reporting a stong performance from its operations in Australia (Argyle) and Canada (Diavik). At the Argyle diamond mine in the remote East Kimberley region of Western Australia, quarterly production of 4.76 million carats was 36 percent higher than the third quarter of 2016, and a full 48 percent higher than Q2 2017 due to the processing of higher grade alluvial tailings.

Mining and Exploration

POZ Minerals Signs Deal with Aboriginal Group to Advance Blina Diamond Project

Australian junior miner POZ Minerals Limited (‘POZ’) has signed a mining agreement with the Bunuba Dawangarri Aboriginal Corporation (‘Bunuba’), the traditional owners of the southern part of the Blina Diamond Project area, which will enable POZ to move forward with its diamond project in the Ellendale Region of Western Australia - known for its fancy yellow diamonds.

Mining and ExplorationSustainability

Junior Miner Diamcor Sells $1.3M Rough Diamonds from S. Africa Project in Q2

Canadian junior miner Diamcor Mining Inc.

Mining and ExplorationRough Market

ALROSA Rough Diamond Sales Fall 30% in September to $306M

In September 2017, Russia's ALROSA Group sold $309.7 million worth of rough and polished diamonds, with rough diamond sales amounting to $305.8 million and polished diamond sales $3.9 million. For rough sales, this result represents a 29.7% decline compared to September of 2016, but is also the highest sales figure since June 2017, and a nearly 19% increase from the $258M sold in August.

Mining and ExplorationRough Market

Stornoway Q3 Results: Production Up, Improved Prices, Breakage Continues

Stornoway Diamond Corporation has released its third quarter production and sales results from its Renard Diamond Mine in Quebec, with better ore grades leading to higher carat recoveries; the junior miner also saw growth in carats sold and an improving price per carat, though the issue of diamond breakage has yet to be solved. During the quarter, 506,380 tons of ore were processed compared to the plan of 540,000 tons (-6%).

Mining and ExplorationRough Market

New Price List for CAR Diamonds To Reflect Market, Remedy Undervalued Exports

The Bureau d'Évaluation et de Contrôle de Diamant et d'Or (BECDOR) in the Central African Republic, which oversees the country’s production and trade of diamond and gold, maintains a database and assesses the value of diamond parcels that are to be exported from the country, has just set up a new price list - defining mineral prices between government and traders. The new price list for these mineral resources is designed to enable the State to have enough financial resources to meet its obligations, reports APA News (Agence de Presse Africaine).

Rough MarketMining and ExplorationFinance and Trade

ALROSA Estimates $170-200M in Losses from Mir Mine Accident

ALROSA has estimated losses from the Mir mine accident to amount to $170-205 million (10 billion-12 billion rubles), the diamond miner's CEO, Sergei Ivanov, told Russian media on Friday. "We are currently watching the situation closely where equipment is concerned. Some things are clear - there is underground equipment where the flooded mine workings are concerned, and again, we're working with the insurance company. The losses there I think are around 10 billion-12 billion rubles. The most terrible thing is that people died there, the money is secondary," he said.

Mining and Exploration

De Beers Currently Blocked from Diamond Exploration in South Africa

In a recent interview with Mining Weekly Online, De Beers Consolidated Mines (DBCM) CEO Phillip Barton bemoaned the lengthy delay in processing their 54 prospecting licences in South Africa, citing the new Mining Charter (still on hold) and issues with South Africa’s Department of Minerals Resources (DMR), which are effectively blocking them from diamond exploration in the country.

Mining and Exploration

Lucapa Secures $15M Debt Financing for Mothae Mine

Australian junior miner Lucapa Diamond Company today announced it has secured $15 million in debt financing to bring its high-value Mothae kimberlite diamond project in Lesotho into production in 2018. The secured US$15 million three-year debt facility has been arranged with private Singaporean company Equigold. It is repayable in eight quarterly payments commencing December 2018, by when Lucapa expects Mothae to be in steady state production under its Phase 1 development plan.

Mining and ExplorationFinance and Trade

ALROSA Transports First Ore from Zapolyarny Mine at Largest New Project

The first ore from the open-pit Zapolyarny mine, one of four pipes at the Verkhne-Munskoe kimberlite field in the Republic of Sakha (Yakutia), was delivered to the stockpile of the processing plant No. 12 at Udachny Mining and Processing Division. The company plans to remove a total of 75,000 tons of ore from the new deposit - ALROSA’s largest investment project - before the end of the year. All the transported ore will be processed at processing plant No. 12.

Mining and Exploration

Kennady Diamonds Adds 5M Cts Inferred Resource to Kennady North Project

Kennady Diamonds, a Canadian diamond exploration company headquartered in Toronto, has reported a maiden Inferred Mineral Resource (IMR) of more than 5.02-million carats for the Faraday kimberlites at the Company’s 100 percent owned Kennady North Project in Canada’s Northwest Territories, the company announced in a press release. The IMR result builds significantly on their Kelvin Indicated Resource of 13.62 million carats and, "represents another significant step in the advancement of our Kennady North Project", said President and CEO of Kennady Diamonds Dr. Rory Moore.

Mining and Exploration

Firestone Diamonds Recovers 134-Carat Yellow Diamond

Firestone Diamonds this morning announced the recovery of its largest diamond to date, a 134 carat gem-quality light yellow diamond, from its Liqhobong Diamond Mine, located in Lesotho. They believe this recovery, the second of over a hundred carats since production commenced, reinforces the potential for large stones at Liqhobong as the company continues early stage mining.

Mining and Exploration

Paul Zimnisky on The Rise of Large Diamond Recoveries

Paul Zimnisky

Botswana Diamonds Continues Run of Positive News with Kimberlite Discovery

Last week Friday, junior miner Botswana Diamonds said sampling work at its Ontevreden licence in South Africa, "produced abundant G10 and G9 garnets with a complimentary suite of eclogitic garnets," noting that, "This mix of garnets is typically seen in a high-grade kimberlite pipes. This work follows detailed ground geophysics which identified ...

Mining and Exploration

Firestone Diamonds' Rough Prices Fall to $69/ct, May Need More Financing

Firestone Diamonds sold a total of 195,330 carats at their latest tenders in July and September 2017 in Antwerp, netting total sale proceeds of US$13.5 million, including the sale of the company's second >US$1 million stone. Nonetheless, the average value per carat fell to $69 from $107/ct.

Mining and ExplorationRough Market

Petra Diamonds’ Mineworkers Back To Work As Wage Dispute Ends

Petra Diamonds Limited announced on Thursday that it has reached agreement with the National Union of Mineworkers (NUM) with regards to salaries at the Finsch and Koffiefontein operations in South Africa and employees will report for their normal duties on 29 September 2017. A day later, Petra announced the Kimberley Ekapa Mining JV operation has signed the same three year wage agreement as that already signed by the company's other South African operations. The mine will now revert to normal operations following conclusion of the labour disruption.

Mining and Exploration

Petra Diamonds Gets Green Light from Tanzania to Resume Rough Exports

London-listed Petra Diamonds said on Wednesday it had received authorization from the Tanzanian government to resume diamond exports and sales from the Williamson mine. Shares in Petra Diamonds climbed more than 12% from two-year lows following the annoucement. The company said the timing and process for the next diamond export to the company’s office in Antwerp and the sale would be finalized between the company and the government. Petra said no resolution had been reached over the 71,654.45 carat shipment from the Williamson mine that was blocked for export this month.

Mining and ExplorationWorld News