Alrosa Analysing Future of Mir Mine: Earliest Reopening Date 2030

Russia's Alrosa has been exploring its options for the currently suspended Mir underground mine development, and has announced that it has worked out a decision-making concept regarding whether to restore Mir as an operating mine or move toward full closure of the mine. Should the miner decide the plan to reopen the Mir mine is economically viable and can be done safely, the earliest it might reopen would be 2030, and it could take even longer.

Mining and Exploration

Cut 9 is Coming: Debswana To Extend Life of Jwaneng Mine Until 2035

The Debswana Diamond Company (Debswana), a 50/50 joint venture between the Government of the Republic of Botswana and De Beers Group, has today (March 18, 2019) announced the commencement of the Cut-9 project to extend the life of Jwaneng Mine, one of the world’s most valuable diamond mines. The project will extend the life of Jwaneng Mine to 2035, and is expected to yield an estimated 53 million carats of rough diamonds from 44 million tonnes of treated material. It is called Cut-9 because it is the ninth cut, or expansion, of the mine.

Mining and Exploration

Alrosa's 2018 Revenue Rises on Better Product Mix & Prices as Sales Volume Falls

Russian diamond mining giant Alrosa has released it results for FY 2018, reporting a 6% increase in the value of diamonds sold to $4.4 billion, and a 9% rise in revenue despite an 8% decline in the volume of goods sold, totalling 38.1 million carats for the year. The miner attributes the increase in sales and revenue to stronger prices and improved mix of gem-quality diamonds. While Q4 diamond sales increased 34% q-o-q to 9.0 m carats, the main increase was from industrial quality diamonds, causing Q4 sales to decline 13% q-o-q (-7% y-o-y) to $824 million as large-size diamond sales fell.

Rough MarketMining and Exploration

Gem Diamonds Rides Big Rock Recoveries to Higher Revenue & Profit

Gem Diamonds, which operates the Letšeng mine in Lesotho, recovered four high-quality diamonds larger than 100 carats in January 2018 and never looked back, riding a record number of +100-carat diamond recoveries in a single calendar year (15) to increased revenues and profit, but they have declined to pay out a dividend. The first big find of the year was the exceptional 910-carat Lesotho Legend, which the miner sold last March for $40 million.

Mining and ExplorationRough Market

Soft Diamond Demand To Impact Botswana’s Mineral Revenues in 2019

Diamond-rich Botswana expects mineral revenues in the 2019/20 fiscal year to drop by 4 percent to 13.6 billion pula ($1.26 billion) due to a decline in royalties and dividends, a minerals ministry budget document showed last week. Botswana is heavily dependent on its diamond resources which, according to the World Bank, is responsible for 25% of the country's GDP, approximately 85% of exports earnings and about one-third of the government's revenues.

EconomyRough MarketMining and Exploration

Petra Recovers High-Value Stones: a 101ct. D-Color Gem & 6ct. Type IIa Blue

Petra Diamonds received a welcome respite from their recent struggles with debt and low prices for small diamonds across the global market. It arrived in the form of a 100.83 carat D-Colour Type II gem quality diamond, which followed another recent recovery of a 6.12 carat Type II blue stone at its Cullinan Diamond Mine in South Africa.

Mining and Exploration

Alrosa's Rough Diamond Sales Show Signs of Recovery in February

Russian diamond miner Alrosa sold $340.6 million worth of rough diamonds and diamond powder in February 2019. While such a result is very low for this time of the year - a 36% decline from last February, when the Alrosa sold $532.8 million - it is nonetheless a 22% improvement over the $278.2 million revenues achieved last month, which gives some hope that the polishing wheels are turning again. For the first two months of the year, Alrosa's rough sales are down 40% from 2018, falling to $618.8 million from $1.032 billion last year. 

Rough MarketMining and Exploration

Canadian Junior Diamcor Achieves Strong Prices ($308/ct) at Latest Tender

Diamcor Mining, a publicly traded junior diamond mining company based in Canada and operating in South Africa, sold 1,220 carats of rough diamonds recovered from ongoing processing exercises performed at its Krone-Endora at Venetia Project in South Africa for US$376,000, achieving an average sale price of $308.06 per carat. This represents an increase of 76% compared to the company’s average price per carat of $176.16 realised on all rough diamonds tendered and sold to date, and included the sale of a 44 carat gem quality rough diamond.

Mining and ExplorationRough Market

Star Diamond Has High Proportion of Top-Quality Stones, Study Finds

Canadian junior miner Star Diamond Corp. has reported "unusually high proportions of Type IIa diamonds" at its kimberlite diamond project in Saskatchewan, and investors did not fail to notice, sending its shares soaring almost 15% on the news, closing at 24 Canadian cents.

Mining and Exploration

De Beers’ Sight Two of 2019 Steady at $490M, but 13% Behind 2018

De Beers sold $490 million worth of rough diamonds in Cycle 2 2019, holding steady at just $10 million less than their January sale but at a lower level than last year. The miner's sales fell 13% compared to the $563 million sold at their second sight last year, and combined sales for the first two sights of the year have fallen by 20% compared to 2018.

Rough MarketMarket AnalysisMining and Exploration

Botswana Diamonds Hits Kimberlite at Thorny River Project

UK-based and AIM and BSE listed exploration company Botswana Diamonds, one of the most prolific diamond exploration and project development companies around, intersected 12 kimberlites from 18 holes drilled as part of its first phase of the intensification drilling program at the company's flagship Thorny River project in South Africa. The junior miner said drilling is now complete on the farm Hartbeesfontein bulk sampling target of 1.5 km of kimberlite fissure intersection were also identified. 

Mining and Exploration

Lucapa CEO Wetherall on Debut Diamond Tenders in Angola and Antwerp

Australian diamond miner Lucapa has reached two milestones in the space of a month: first, the inaugural international tender of Angolan diamonds offered for sale via a competitive tender under the new diamond marketing policy enacted by the Angolan President, Joao Lourenco, and the maiden tender of goods from the Mothae mine in Lesotho held at Bonas t

Rough MarketMining and Exploration

Rio Tinto's Diamond Profits Rise in 2018 Despite Revenue Decline

Rio Tinto's 2018 diamond profits increased by 28% to $118 million from $92 million a year earlier despite a slight downtick in revenues from diamond sales, which fell 1.6% to $695 million from $706 million in 2017. The miner's earnings before interest, tax, depreciation and amortization (EBITDA) increased 4.9% to $301 million from $287 million in 2017, while capital expenditures declined 25% to $64 million..

Mining and ExplorationRough Market

Alrosa Unearths Another Large Stone (99 ct) From New Kimberlite Mine

Russian diamond mining giant Alrosa recently recovered a "unique" gem-quality rough diamond weighing 98.8 carats from the Zapolyarnaya kimberlite pipe, which is the part of the Verkhne-Munskoye diamond deposit.

Mining and Exploration

De Beers Consolidates Canadian and South African Mining Assets

The De Beers group is set to consolidate its Canadian and South African mining business into a single unit to streamline operational management of the Venetia Mine, Gahcho Kué Mine and De Beers Marine under a single leadership team based in Johannesburg. The new unit, called De Beers Group Managed Operations, will be headed by the group’s former DBCM deputy CEO, Nompumelelo (Mpumi) Zikalala.

Mining and Exploration

Lucara Stumbles in 2018 on Inconsistent Recoveries & Lower Prices

Despite a record year for the recovery of 'specials' (diamonds larger than 10.8 carats), including 33 diamonds in excess of 100 carats, Lucara Diamond earned its lowest revenue in six years due to the lowest average price per carat achieved in five years. Judging by their share prices, however, investors hardly seemed too concerned, as Lucara's stock price took an 8% dip following the announcement, only to regain half its loss back the next day.

Mining and ExplorationRough Market

Huge Diamond Recoveries Steal the Show Today

Exceptionally large diamond recoveries are, as a rule, an exception, but today we had two announcements of some very impressive stones: Lucara Diamond unveiled 223-carat stone from its Karowe mine in Botswana, while Lucapa Diamond Co. added a 128-carat find from its Lulo diamond field in Angola. 

Mining and Exploration

The Last Diamond Unearthed: The Countdown is On!

According to new research published by the Fancy Color Research Foundation (FCRF), one of the most overlooked facts concerning the diamond industry is that the world’s diamond mines are rapidly depleting. Within a quarter of a century, the majority of the 45 most notable diamond mines operating today will cease to exist, and the last diamond will be unearthed in 60 years. According to the FCRF, diamond prices will rise as supply wanes.

Mining and ExplorationRough MarketPolishedRecycled Diamonds and Jewelry

Petra Diamonds Taps Mining Veteran Duffy as New CEO

Petra Diamonds has appointed highly experienced mining vet Richard Duffy as the new CEO of the company, which has seen its debt pile up amid expansion efforts and watched its shares tumble in recent months. CEO Johan Dippenaar announced his departure last September after 12 years at the helm and has remained with Petra as they sought a suitable replacement. Duffy will officially take over on 1 April 2019.

Mining and Exploration

Botswana Diamonds, Vast Resources Granted Right To Mine Marange, Zimbabwe

Joint-venture partners Botswana Diamonds and Vast Resources Vast Resources plc have in principle been granted the right to mine diamonds on the Heritage Concession of the Marange Diamond Fields. The companies signed a memorandum of understanding to jointly investigate diamond opportunities in Zimbabwe in May this year, and last August were apparently awarded access to the Marange concession.

Mining and Exploration

Falling Prices of Small Stones Taking Toll on Miners

The state of the diamond mining industry as 2019 enters full swing is concerning to many throughout the trade. The fall in prices of small, lower-quality diamonds, a staple of many miners, had participants at the Africa Mining Indaba last week concerned about the sustainability of their operations if the market does not correct this year, with some even concerned about their survival.

Market AnalysisMining and ExplorationRough Market

Petra Diamonds Anxious for Next Big Stone to Ease Debt

Petra Diamonds, owner of one of the world’s most famous diamond mines - the Cullinan mine in South Africa - could be about a decade away from clearing its multi-million-dollar debts, according to Reuters. As Emma Rumney and Barbara Lewis explain, Petra bought Cullinan in 2008, "aiming to breathe new life into the South African mine renowned for yielding the largest rough gem diamond ever found - 3,106 carats - and being the world’s main source of rare blue diamonds.

Mining and ExplorationRough Market

From Russia, With Love: Alrosa Unveils 66-ct. Heart-Shaped Rough

BlueRock Diamonds Recovers Largest Stone, Raises Development Funds

BlueRock Diamonds, an AIM-listed junior miner which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, has recovered its largest diamond to date: a 16.28 carat gem-quality stone. It is 4.58 carats larger than the next largest diamond the miner has recovered. On Monday, the company announced it has raised an aggregate of £575,000 ($740,000) through a placement.

Mining and Exploration

Firestone Finds Another Big Rock at Liqhobong

Firestone Diamonds has announced the recovery of a 70 carat white, makeable diamond from its Liqhobong Mine in Lesotho.

Mining and Exploration

Gem Diamonds' Latest Exceptional Recovery a 13-Carat Pink

Gem Diamonds recovered a high-quality 13.33 carat, pink colour Type I diamond from the Letšeng mine in Lesotho on 7 February 2019. The prices for diamonds of this color of diamond are typically exceptional. In the first half of 2018, when Gem recovered 10 rough stones larger than 100-carats at its Letšeng mine, the highest price achieved was $62,433 per carat for a 2.26-carat pink diamond.

Mining and Exploration

Alrosa's Rough Diamond Sales Plunge in January

Russia's Alrosa, the world’s largest diamond miner, could not escape the current trend on the rough diamond market at the start of 2019, as its rough diamond sales plunged by 44% to $278 million from $499 million in January 2018. This is in sharp contrast to December sales, however, when rough sales increased by 46% over the previous year. Polished-diamond sales in January were $3.4 million, bringing total sales for the month to $281.5 million.

Rough MarketMining and Exploration

RJK Explorations To Seek Source of Great Yellow Diamond in Canada

RJK Explorations, a mineral exploration company with a focus on diamonds, gold, silver and base metals with its resource properties located in Ontario and Newfoundland, is planning to search for the source of the 800-Carat Nipissing Yellow Diamond in southeastern Ontario. The Bishop Nipissing Diamond Project came about when RJK entered into a property option agreement with Anthony “Tony” Bishop for the Bishop Nipissing Diamond Properties, exploration properties totaling 2,090 hectares encompassing at least 18 potential kimberlite pipes, according to a press release.

Mining and Exploration

Gem Diamonds' 2018 Recoveries, Sales & Avg. Prices See Double-Digit Growth

Gem Diamonds had a banner year in terms of recoveries, sales and average prices acheived for its diamonds unearthed from its Letšeng mine in Lesotho. In addition to setting a company record for recoveries in a single year of diamonds larger than 100 carats (15) and of diamonds larger than 20 carats (257), in 2018 Gem's carats recovered increased by 13% to 126,875 carats (2017: 111 811 carats), sales jumped 29% to $267 million from $207 million, and the average price rose by 10% to $2,131 per carat, up 10% from $1,930 per carat in 2017.

Mining and Exploration

South Africa's Mining Charter III Puts Survival of Junior Miners at Risk

South Africa's Mining Charter III "heaps more pain on South Africa’s alluvial diamond producers who already face enormous cost burdens and high risks," writes Gert van Niekerk, Chairman of the South African Diamond Producer’s Organisation in a recent opinion peice in Mining Review Africa.

Mining and Exploration

Firestone Diamonds Has 'Reasonable' Q2, Revenues Rise Despite Soft Prices

Firestone Diamonds, a diamond producer with operations focused in Lesotho (Liqhobong Diamond Mine), reported "reasonsable" results in the quarter ended 31 December 2018 (Q2), increasing sales despite the "deterioration" in demand and prices for smaller, lower value stones. The miner sold 191,735 carats during the quarter, a slight decline from the 194,206 carats sold last quarter, realising revenue of $13.9 million (Q1: $13.5 million) at an average value of $72 per carat (Q1: $70 per carat).

Mining and ExplorationMarket Analysis

BlueRock Diamonds Restarts Mining Operations After Brief Suspension

BlueRock Diamonds plc, the AIM-listed junior mining company which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, has recommenced operations after South Africa's mining regulator ordered a temporary suspension on January 24 following an accident. The Department of Mineral Resources (DMR) imposed a section 54 notice - which concerns the code of practice relating to the operation of trackless mining machines - following an event involving an external contractor. 

Mining and Exploration

Petra's Shares Tumble Almost as Sharply as Cullinan Rough Prices

South Africa-focused miner Petra Diamonds has seen its shares tumble 27% since Monday's announcement of its H1 2019 results, despite an 8% increase in sales and a 10% rise in production.  The culprit? Near-historical low prices earned from its rough diamonds from its flagship Cullinan mine. Prices achieved from the miner's Cullinan goods slumped 31% compared to last year, earning just $96 per carat, and compared to a nine-year average of $140 per carat from 2009 to 2018, the miner said. 

Rough MarketMining and Exploration

Alrosa Recovers an Uncommonly Large Stone - Nearly 200 ct.

Lucara Increases Resource at High-Value Area of Karowe Mine

Lucara Diamond Corp. has announced a 54% increase in the indicated resources of the South Lobe of its Karowe Mine in Botswana, as it undertakes its feasibility study for a potential underground operation. The significant increaase in the availability of diamonds, as well the increased contribution of the higher grade, higher value EM/PK(S) geological ore unit, where some of Karowe's most valuable diamonds, including the 1,109 carat Lesedi La Rona and the 813 carat Constellation were found, signfies a significant boost to the future of the mine.

Mining and Exploration

Alrosa & Anjin Selected To Mine For Diamonds in Zimbabwe

Russian diamond miner Alrosa and China’s Anjin Investments have been selected by Zimbabwe’s government to partner with the state diamond company ZCDC, reports local paper The Herald. The Zimbabwe National Diamond Policy says the Zimbabwe Consolidated Diamond Company (ZCDC), Murowa Diamonds and two other private companies would be permitted to undertake diamond exploration and mining. The Russian and Chinese miners have now been announced as those foreign companies.

Mining and Exploration

GIA Guide Changing Lives of Artisanal Miners in Tanzania

The GIA (Gemological Institute of America) has developed an illustrated booklet, “Selecting Gem Rough: A Guide for Artisanal Miners,” to help small-scale miners learn more about the quality and classification of the gems they recover, and ultimately to obtain greater market value. As Russel Shor explains, the two pilot projects GIA initiated with Pact, a Washington, D.C.-based non-governmental development organization with offices in Tanzania, are having an impact on these miners' lives.

SustainabilityMining and Exploration

Botswana Diamonds Issues Placing Shares To Fund Exploration

UK-based and AIM and BSE listed exploration company Botswana Diamonds plans to raise more than $480,000 (£370,000) from investors, the company said Wednesday.

Mining and Exploration

Alrosa's 2018 Production Falls 7% to 36.7M Cts., Sales Rise 6% to $4.5B

Russian diamond mining giant Alrosa has announced its production results for 2018 and Q4 2018, reporting that annual production declined by 7% to 36.7 million carats, while an 8% decline in carats sold was offset by a higher average price per carat, leading revenues to rise 6% to $4.5 billion. The miner attributed the fall in output to the shutdown of the Mir underground mine and the completion of open-pit mining at the Udachnaya pipe.

Mining and ExplorationRough Market

De Beers' 2018 Production Up 7% to 35.3M Cts, Sales rise 2% to $5.4B

The De Beers Group has announced its production results for 2018 and Q4 2018, reporting that annual production increased by nearly 7% to 35.3 million carats, while a 4% decline in carats sold was offset by a higher average price per carat, leading revenues to rise 2% to $5.4 billion. They said the rise is production was due to a planned increase at the Orapa mine, although the group's output was in the lower half of the production guidance range of 35 to 36 million carats.

Mining and ExplorationRough Market

Production at Rio Tinto's Argyle Diamond Mine Tumbles in 2018

Rio Tinto's diamond production for the year fell by 15% to 18.4 million carats from 21.6 million carats in 2017, as production at the Argyle mine in 2018 fell by 18% compared to 2017, when production was enhanced by the processing of higher grade alluvial tailings. The fourth quarter in particular put a drag on the annual figures, as the 3.2 million carats unearthed represented a 48% decline from Q4 2017 - albeit against a high base of 7.21 million carats - and a 16% decline from last quarter.

Mining and Exploration

Lucapa Starts Commercial Diamond Recoveries at Mothae Mine, Lesotho

Lucapa Diamond Company has commenced commercial diamond recoveries at its new 1.1Mtpa (million tons per annum) Mothae mine, a "high-quality kimberlite resource" located in Lesotho. Lucapa has been developing a new mine at Mothae throughout 2018 to complement production from the high-value Lulo mine in Angola. During Q4 2018, Lucapa completed construction of Mothae's new treatment plant, which incorporates two XRT diamond recovery circuits, and commenced the commissioning phase.

Mining and Exploration

Angola's 2018 Diamond Production Flat at 9.4M Carats, Prices Rise

Diamond production in Angola remained flat in 2018 at 9.43 million carats, but revenue from diamond sales increased by 9% to $1.2 billion from $1.1 billion due to a 27% rise in the average price per carat, the chairman of the state mining company Endiama, Ganga Júnior, announced this week. Diamond production fell slightly from 9.44 to 9.43 million carats, but the average price per carat of the 8.26 million carats sold increased to $149 per carat from $117 per carat.

Mining and ExplorationRough Market

Stornoway Diamonds’ Production Back on Track in Q4 After Challenging Year

Stornoway Diamonds got its production levels back on track in Q4 2018 after "challenging" year of ramping up their underground operations at the Renard mine in Canada, giving them the confidence to raise their production guidance for 2019. Production, sales and revenue all declined significantly from the miner's 2017 levels, but they recorded a 24% increase in the average price per carat earned despite a market downturn in the second half of 2018.

Mining and ExplorationRough Market

Developing Sierra Leone's Newest Mine: In-Depth with Stellar Diamonds CEO Karl Smithson

Stellar Diamonds and parent company Newfield Resources are on the verge of commencing development of their Tongo Diamond Project in Sierra Leone. When completed, it will be the second largest diamond operation in the country. The Diamond Loupe spoke with CEO of Stellar Diamonds and Executive Director at Newfield Resources Karl Smithson, first in Antwerp and again when he was on site in Tongo (“in the middle of the bush”) about the project, how it is progressing and what to expect going forward.

Mining and ExplorationRough Market

Mountain Province Increases 2018 Sales & Production Despite Tepid Q4

Canadian miner Mountain Province Diamonds reported a 17% jump in carat production for the full year 2018, with sales rising 30% to $US240 million. The company's 49% share of production from the Gahcho Kué mine it shares with De Beers totalled 3.4 million carats, (full GK production 6.9 million carats) compared to the 2.9 million carats (5.9m) recovered last year, following from a 25% rise in total tonnes mined (ore & waste) and a 15% rise in total tonnes treated.

Mining and ExplorationRough Market

Alrosa Set To Resume Diamond Mining Operations in Zimbabwe

Russia’s Alrosa, the world's largest diamond producer, has announced its intentions to resume its diamond mining operations in Zimbabwe, which it had put on hold since 2016.

Mining and Exploration

Angola Extends Operation Against Illegal Diamond Mining and Smuggling

Angola has extended across the country what it calls “Operation Transparency”, which aims to fight illegal immigration, reduce diamond smuggling and reform the world’s fifth-largest diamond industry, Angolan authorities said in a statement. It is part of President João Lourenço’s drive to diversify the economy and reduce the country’s dependency on oil.

Mining and Exploration

Lucara Recovers 127-ct. Diamond Following Record Year of 33 +100-ct. Recoveries

Lucara Diamond Corp. has recovered a 127 carat, top white gem diamond from its 100% owned Karowe Diamond mine located in Botswana. Since mining began at Karowe in 2012, a total of 129 diamonds in excess of 100 carats have been recovered, including an astounding 33 in 2018 alone. By way of comparison, Gem Diamonds, famous for its large diamond recoveries from the Letšeng mine in Lesotho, recovered a record 15 stones larger than 100 carats this year. Lucara's haul since 2012 includes 12 diamonds larger than 300 carats in size, of which 5 were recovered in 2018.

Mining and Exploration

Zimbabwe Plans Major Increase To Diamond Production in 2019

State-owned Zimbabwe Consolidated Diamond Company (ZCDC) plans to produce 4.1 million carats of the commodity this year, representing a 46% increase from the 2.8 million carats produced last year. 

Mining and Exploration

Russia's AGD Diamonds See Sales Rise 35% To $280 Million in 2018

Russian mining company AGD Diamonds has reported that from January to November of 2018, AGD Diamonds earned approximately $280 million (18.9 billion rubles) from diamond sales – up 35% year-on-year. According to Rough & Polished, the miner in 2018 the company extracted 22,150,000 cubic meters of rock mass from the Grib diamond mine, recovering 3,433,000 tons of ore. 

Rough MarketMining and Exploration

Diamond Fields Sends First Shipment of Namibian Marine Goods to Antwerp

Canadian-based and TSX-listed company Diamond Fields Resources Inc. (DFR) recently announced the shipment of a 25,152-carat parcel of rough diamonds to Antwerp for independent valuation, deep-boiling and initial sorting in preparation for sale. The diamonds were recovered from the ML111 licence offshore Namibia during the first 25 days of mining, between November 11 and December 5, 2018. The shipment is the first since mining restarted, having been on hold since 2016.

Mining and Exploration

Canadian Student Finds New Way To Extract Diamonds from Kimberlite

Hamdi Ali, a 17-year old high-school student from Canada has discovered a new way to extract diamonds from kimberlite rocks, according to a report from the University of Alberta where she was conducting summer research. She discovered that using SELFRAG high voltage pulse power fragmentation technology on the kimberlite rocks enabled recovery of diamonds that would have been crushed if established extraction methods had been used.

Mining and ExplorationFun Facts

Gem Diamonds Ends 2018 As It Began, with Large Stone Recovery

Gem Diamonds brought 2018 to a close much in the same way that it opened the miner's banner year - with the unearthing of a 125-carat high quality white, Type IIa diamond - recovered from the Letšeng mine in Lesotho. It was the fifteenth diamond greater than 100 carats the London-based miner recovered in 2018. The recovery, which took place on December 20, following the December 19 announcement of the recovery of high quality 101 carat and 71 carat white Type IIa diamonds, both recovered within a twenty four hour period.

Mining and Exploration

Catoca To Invest $330 Million in Luaxe Mine, Angola

Angolan mining company Sociedade Mineira da Catoca (Catoca) is planning to invest $330 million over the next three years in large sample collection works in the area of the future Luaxe mine, according to the company’s Director General Benedito Paulo. The work is due to begin in the first half of next year, when the company will collect data on the quality of diamonds as well as initiate price discovery and evaluation, after which the economic and financial feasibility study will be carried out as well as the exploration project, according to a report by Macauweb. Paulo said that t

Mining and Exploration

Firestone Recovers 46-Carat White Diamond, To Be Sold in Antwerp in Jan.

Rio Tinto & Dominion Unveil Largest Canadian Diamond Ever Recovered

Rio Tinto and Dominion Diamond Mines have announced the recovery of the largest known gem-quality diamond ever found in North America. The 552-carat yellow diamond was unearthed in October at the Diavik Diamond Mine, approximately 135 miles south of the Arctic Circle in Canada’s Northwest Territories. Measuring around 3cm by 5.5cm, it is said to be about the size of a chicken egg. "A diamond of this size is completely unexpected for this part of the world and marks a true milestone for diamond mining in North America and Canadamark diamonds overall," the companies said in a statement.

Mining and Exploration

Blina Diamond Project in Australia now 'Shovel Ready'

Gibb River Diamonds Ltd. (GIB), until recenly known as POZ Diamonds, has received the necessary permitting for its Blina Diamond Project in the Ellendale Diamond Province of Wester Australia's Kimberley Region. The project consists of four granted mining and various exploration leases, and the company is already recovering high quality stones.

Mining and Exploration

Anglo American Raises De Beers' Diamond Output Guidance

De Beers' parent company Anglo American has announced a slight rise in its guidance for diamond output this year to 35-36 million carats (previously 34-36 million carats), marking a rise from the 33.5 million carats recovered in 2017. They estimate a reduction in 2019 volumes down to 31-33 million carats due to declining open pit production at the Venetia mine in South Africa as it transitions underground, and the Victor mine in Canada reaching its end-of-mine-life.

Mining and Exploration

Petra Diamonds Unburdens Itself of Mine for $14

In a cost-cutting move, mid-tier miner Petra Diamonds has unburdened itself of the Helam mine in South Africa for a total price of $14 (ZAR 200). Petra put the Helam mine on care on maintenance during FY 2015, following previous attempts to source a suitable purchaser and has conducted no mining activities since then.

Mining and Exploration