Archive

  • On the back of a fourth-quarter push in diamond production that increased 58% year-on-year and 21% compared to Q3 2017, Rio Tinto ended the year 2017 with a 20% rise in rough diamond production to 21.63 million carats from 17.95 million carats in 2016. In Q4 alone, Rio Tinto unearthed 7.21 million of those 21.63 million carats, a tremendous increase over the 4.57 million carats extracted in the same period a year earlier.

  • In its first full year of commercial production at the Renard Diamond Mine in Quebec, Stornoway Diamond Corp. produced 1.64 million carats from processing 1.96 million tons of ore with an attributable grade of 84 cpht, compared to a plan of 1.69 mcts from 2.00 mtons at 85 cpht (97%, 98% and 99% of targets respectively).

  • Mountain Province Diamonds in December sold 364,000 carats at the tenth tender of rough diamonds from the Gahcho Kué mine, in which it has a 49% share - De Beers owns the 51% - at an average price of $53 per carat, for a total of $19.1 million.

  • De Beers Canada has notified the Mackenzie Valley Land and Water Board it intends to file a final closure and reclamation plan for its defunct Snap Lake diamond mine, writes CBC News from Canada. The process started out in 2015 as a care and maintenance operation to wait for a possible market rejuvenation or a buyer to come forward.

  • 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.

  • Mountain Province Diamonds, a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, earned $19 million from their ninth tender of rough diamonds in Antwerp. It was the lowest haul in terms of overall value since their fourth sale of the year in May, but prices remained stable to firm, generally averaging about 2% higher than the eighth sale across the full assortment profile.

  • 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.

  • 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.

  • 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.

  • 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

  • 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.

  • Canadian junior miner Diamcor Mining Inc.

  • 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%).

  • Dominion Diamond Corporation yesterday announced that its, "Shareholders overwhelmingly approved the previously-announced plan of arrangement pursuant to which Northwest Acquisitions ULC, an entity affiliated with The Washington Companies, has agreed to acquire all of the issued and outstanding common shares of the Company for US$14.25 per share in cash." In other words, shareholders are expected to receive $14.25 US per share in cash when the acquisition closes. The aquisition arrangement is worth a total of US$1.2 billion.

  • Canadian miner Mountain Province Diamonds Inc., a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, today announced its recently completed seventh diamond sale in Antwerp was the largest to date in terms of volume and value.

  • Dominion Diamond Corporation reported their financial and operational results for the second quarter fiscal 2018 which ended on July 31, 2017. The results were in line with expectations, consolidated carats produced increased 72% to 2.6 million carats in the second quarter from 1.5 million carats for the same period a year earlier due to higher tonnes processed and a focus on high-grade Misery Main ore at the Ekati mine, with steady performance at the Diavik Diamond Mine.

  • Five Star Diamonds, a Canadian mining company listed on the TSX Venture Exchange, signed a co-operation agreement with I.Henning, the world’s leading international diamond broking and consulting group. Five star is making significant progress on its kimberlite drilling program at its 100% owned Jaibaras Diamond Project in Para State, Brazil.

  • Canada's Dominion Diamond Corporation, is considering an investment to extend the Ekati mine by going underground at the Fox pit. According to a preliminary economic assessment (PEA) the expansion is expected to extend mine operations by seven years. The current mining plan accounts for Ekati to operate till 2035, with production coming from six open pits and two underground operations.

  • Canadian junior miner Peregrine Diamonds announced that it has completed drilling of three diamond holes at its 100%-owned Chidliak Diamond Project near Iqaluit, Nunavut, Canada. The total number of metres drilled was 1,474. Tom Peregoodoff, Peregrine’s President and CEO, commented: “We are extremely pleased with the drill results to date. It is especially encouraging to see that DD38 confirms the result from DD33 and that the CH-6 kimberlite is expanding in size with depth.

  • Despite ongoing breakage issues during processing, Canadian junior miner Stornoway Diamond experienced an uptick in prices for rough diamonds from its Quebec mine during the second quarter of 2017. At its two tenders held in Antwerp during the period, Stornoway achieved average diamond pricing of US$87 per carat, compared to US$81 per carat in the first quarter. “We are particularly encouraged by the steady increase in pricing for Renard diamonds as the market familiarises itself with our production,” said company President and CEO Matt Manson.

  • Mountain Province Diamonds - a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories - reports strong interest in Antwerp for Gahcho Kué Diamonds in Q2 2017 (ended June 30, 2017), despite a challenging rough diamond market. For the three months of Q2, MPD reported a net income of US$6 million (C$7.6 million) or US$0.39 (C$0.05) per share.

  • Canadian junior miner Kennady Diamonds reports a collective average price of US$109 per carat from its bulk sampling program of diamonds recovered from the Faraday kimberlites at the 100 percent-controlled Kennady North project located in Canada’s Northwest Territories. Valuation results included a 7.78 carat sawable diamond recovered from Faraday 3 valued at US$2,967 per carat. A total of 1,259.16 carats (+0.85mm) recovered from the 2017 bulk sampling program was sent to WWW International Diamond Consultants (‘WWW’) in Antwerp for valuation.

  • Mountain Province Diamonds, a Canadian junior miner and 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, sold 290,000 carats of rough diamonds valued at $20.9 million at its sixth tender sale of the year in July.

  • Dunnedin Ventures Inc., an emerging diamond exploration company based out of Vancouver, BC whose main focus is the advanced stage Kahuna Diamond Project located in Nunavut, Canada, reports the recovery of 8.17 carats of commercial-sized diamonds (+0.85 mm) from 2.03 tons of ore from the PST kimberlite - one of three at the project. This yielded a final aggregate sample grade of 4.02 carats per ton.

  • Canadian junior miner Rockwell Diamonds, which focuses on developing alluvial diamond deposits in South Africa and is currently in business rescue avoid liquidation, is struggling to stay afloat and to bring its new Wouterspan WPC) project into full production, all the while bleeding cash. And its CEO, Tjaart Willemse, brought in to turn the company around, has resigned.

  • Rio Tinto reports rough diamond output at its Argyle Mine in Australia reached 3.2 million carats in Q2 2017, representing a 7% increase over output in the first quarter of the year, but an 8% decline compared to the 3.5 million carats recovered in Q2 2017. For the first half of 2017, production fell 9% to 6.2 million carats from 6.9 million carats in the first half last year. The company attributes the decline to lower ore volumes processed following wet weather and additional maintenance required in the second quarter of this year.

  • Canada's Dominion Diamond Corp., the world's third-largest diamond producer by market value with a controlling interest in the Ekati Mine and 40% owner of the Diavik Mine in Canada’s Northwest Territories, is in advanced and friendly talks with The Washington Companies on a sweetened cash takeover bid, sources told Reuters this week. Susan Taylor and John Tilak write that Negotiations are focused on the two sides settling on a price, said the sources, who declined to speak publicly on the matter. A deal could be announced within weeks, they said.

  • Arctic Star, a Canadian diamond and mineral exploration company with diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and in the Athabasca Basin of Saskatchewan has agreed to acquire a 100% interest in a 243 hectares exploration permit over the Black Wolf (Masta Susi) and the White Wolf (Valkoinen Susi) diamond bearing kimberlites in northern Finland. Named the Timantti Project (timantti is Finnish for diamond'), "Arctic Star views this new project as a unique opportunity to advance a new diamond district", says Buddy Doyle, VP Exploration of Arctic Star.

  • Canadian junior miner Stornoway Diamonds sold 350,159 carats in two scheduled Antwerp sales (2017 sales #4 and #5) for gross proceeds of US$31.9 million (C$40.9 million), at an average price of US$87 per carat (C$117 per carat), the company announced in a press release. This represents a drop from the 459,126 carats sold across three sales in Q1, earning US$38 million, but the price of rough per carat rose from $US83 per carat earned in the previous quarter.

  • Dominion Diamond Corporation received approval to use water for the Ekati Diamond Mine in Canada’s Northwest Territories. The regions Minister of Environment and Natural Resources, Robert C. McLeod, signed off on the type-A water license for Dominion’s mine as well as the Jay project, a high-grade kimberlite pipe which the company believes will extend the lifespan of Ekati for a decade.

  • North Arrow Minerals Inc. has announced the start of a $3.2M exploration program at the company’s 100% owned Naujaat (now-yat; formerly Qilalugaq) and Mel Diamond Projects, Nunavut, Canada. The drill program at the Naujaat Project will see North Arrow drill 4,500 metres and collect a 200 ton mini-bulk sample from the highest grade phase of the Q1-4 kimberlite.

  • "Those 238 grams are believed to be the most rigorously documented export of small-scale gold in history", writes The Globe and Mail. They are referring to 238 grams of gold that Canadian NGO Partnership Africa Canada (PAC) purchased from small-scale mining sites in eastern Congo as part of a pioneering new system of gold exports called "Just Gold", initiated to generate a new form of highly detailed sourcing data.

  • Mountain Province Diamonds' fifth diamond sale of diamonds from the Gahcho Kué mine in Canada was its best to date, setting new highs in overall revenue, carats sold and price per carat. The junior miner sold 220,000 carats at its June tender in Antwerp, earning $2.1 million for an average price of $95 per carat, a solid increase from the $72 and $86 per carat earned respectively in sales 1-3 and 4. 

  • Rio Tinto on Friday signed an option agreement positioning it to potentially become the majority owner of the Star-Orion South Diamond Project, an advanced-stage diamond exploration project about 60 kilometres east of Prince Albert, Canada.

  • 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.

  • Stornoway Diamond Corporation today announced the production of one million carats of diamonds at the Renard Diamond Mine in Quebec. The Canadian miner declared commercial production on January 1st, 2017, and as of December 31 2016, the company had recorded the recovery of 448,887 carats from total of 399,162 tons of ore. Full name-plate capacity of 6,000 tons per day, based on 73% plant utilization, is scheduled to be achieved by the end of the second quarter. According to their guidance for 2017, they expect diamond sales of 1.8 million carats at ten tender sales in Antwerp, Belgium.

  • 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.

  • Canadian - or rather, Québécois - diamonds from mine to finger were cause for celebration in Montreal yesterday, as Maison Birks unveiled the first 200 diamonds from Quebec's Renard diamond mine, owned by Stornoway Diamond Corporation. In the presence of Birks Group President and CEO, Mr.

  • 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.

  • 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.