Mountain Province Identifies More Kimberlite at Gaucho Kué, Could Extend Life of Mine

Canadian miner Mountain Province Diamonds (MPD) has announced "very encouraging" results from its exploration program currently under way in the immediate vicinity of the Gahcho Kué mine. If the exploration success continues and is confirmed, it could lead to the potential addition to the resource of 1.5 to 2.8 million tons and 2.2 to 4.2 million carats, said Stuart Brown, the Company’s President and CEO.

Mining and Exploration

Petra Diamonds Core Profit Rises, CEO Steps Down Amid Shares Slump

Despite its annual revenue rising 25% and its profit from mining activities up 33% to US$205.1 million, the miner recorded significant losses ($203.1 million) and Petra Diamonds' CEO Johan Dippenaar will step down after 12 years at the helm following a slump in the company’s share price this year. The miner was forced to raise $170m in capital from shareholders last May to shore up its heavy debt, which has run up over the $600 million mark and accelerated the company’s share price fall this calendar year, which is down by 43%.

Mining and Exploration

Lucapa Prepares 1st Sale Under Angola's New Marketing Policy, Ships 1st Mothae Parcel to Antwerp

Lucapa Diamond Company today announced that a selection of large, premium-value Lulo diamonds will be the first Lulo production sold through new marketing channels being introduced as part of Angola’s diamond sector reforms, which represent a milestone for Angola's rough diamond trade. Additionally, Lucapa has exported its first parcel of ~2,500 carats of diamonds recovered from the Mothae kimberlite diamond mine in Lesotho to the global diamond trading centre of Antwerp, Belgium. 

Mining and ExplorationRough Market

ALROSA Launches First Auction of Large, Fancy-Colored Polished Diamonds in HK

Russian diamond miner ALROSA presented its first ever collection of large, fancy-colored polished diamonds at the Hong Kong Jewelry & Gem Fair, marking the initial stage of their new strategy to become the world leader in the production of colored polished diamonds. The collection showcased in Hong Kong is comprised of 250 diamonds of different shapes and hues, with the auction scheduled for September 19. "ALROSA polished branch now focuses on the processing of large and coloured diamonds and the subsequent sales," said Evgeny Agureev, Director of the United Selling Organization of ALRO

Mining and ExplorationRough Market

Murowa Diamonds (Zimbabwe) Joins Diamond Producers Association

RZ Murowa Holdings Ltd. (RZM), majority owner and operator of Murowa Diamonds, has joined the Diamond Producers Association (DPA), making it the eighth diamond mining company, and first new member, to join the DPA since it's launch in 2015. The DPA was created in 2015 to protect and promote the integrity and reputation of diamonds. Murowa Diamonds operates the Murowa mine in Zimbabwe, which was purchased from Rio Tinto in 2015 and expanded significantly under its new leadership. Manit M.

Mining and ExplorationMarketing

ALROSA Plants 80,000 Trees As Part of Rehabilitation of Mine Site

Junior Miner Tango Adds To Diamond Portfolio in Angola and Liberia

Tango Mining Limited, a Canadian diversified junior mining company with several projects in southern Africa, has been busy expanding its portfolio of diamond projects. Tango is the lead company at the Oena diamond mine in South Africa, as well as Txapemba, an 84 sq km concession in Angola that Tango took operational control of last October. It also recently acquired 75% of the Middlepits project - an alluvial diamond property in Botswana, which it will not be responsible for mining - and has now signed new agreements in Angola and Liberia.

Mining and Exploration

Stornoway Diamond Completes Renard Underground Mine

Last week, Candian diamond miner Stornoway Diamond Corporation achieved sustained underground mine production at the Renard Diamond Mine following its ramp-up to or above the mine’s design capacity, marking the completion of the underground mine. Matt Manson, President and CEO, commented: “Completion of the underground mine ramp-up at Renard has not been without its challenges.

Mining and Exploration

ALROSA's August Diamond Sales Reflect Stable Demand

Russian diamond miner ALROSA sold $294.9 million worth of rough and polished diamonds in the typically slow month of August, representing a 14% rise year-over-year. The miner sold $283.2 million worth of rough diamonds during the month, an 11% increase over the same period in 2017. Meanwhile, polished-diamond sales increased 516% y-o-y and 121% over July, earning $11.7 million, as the group hosted several sales.

Mining and ExplorationRough MarketPolished

Antwerp World Diamond Centre Visits Angola for Diamond Symposium

Representatives from the Antwerp World Diamond Centre (AWDC) this morning joined Belgium’s Deputy Prime Minister and Minister of Foreign Affairs and European Affairs, Didier Reynders in Angola, where he hosted a Diamond Breakfast Symposium in cooperation with the Ambassador of the Kingdom of Belgium to Angola, HE Frank Felix. The mission to Angola is intended to reinforce the momentum established between the two countries during the visit of the President of Angola, João Lourenço, to Antwerp last June, where they discussed increased cooperation concerning diamond trading.

Rough MarketMining and Exploration

Gem Diamonds: Record Number of Big Stones in H1 Boosts Revenue 81%, Share Price Soars

Gem Diamonds, which operates the Letšeng mine in the mountainous kingdom of Lesotho in southern Africa, famous for producing the world’s most valuable stones, is in the midst of a banner year as a record number of large diamond recoveries (+100ct) pushed revenue to $167.7 million, up 81% from $92.9 million in H1 2017. The company set a half year record of ten diamonds greater than 100 carats, including the recovery of the 910 carat Lesotho Legend, which was sold in March to an Antwerp company for $40 million ($43,912 per carat).

Mining and ExplorationRough Market

Mountain Province Diamonds Earns $27M at Latest Sale in Antwerp

Canadian miner Mountain Province Diamonds earned US$26.9 million (CDN$35.3 million) from the sale of 411,317 carats at their seventh Antwerp sale of the year, completed on August 31. The overall average realized value was only US$65 per carat, a slight decline from their previous sale, driven by a lower qualites and downward pressure on the market for smaller goods, while their 'specials' (larger than 10.8 carats) continued to perform well. 

Mining and ExplorationRough Market

Australia's POZ Minerals Sets Sights on Ellendale Diamond Mine, Yellow Stones

POZ Minerals Ltd., a phosphate producer that holds a 100% interest in the Blina Diamond Project and also explores for phosphate and gold properties, annouced it will place a bid for the Ellendale mine after the state government’s call for investors in the asset last week. The Ellendale Project was mined from 2002 to 2015 and previously produced about half of the world's highly valued fancy yellow diamonds.

Mining and Exploration

Peregrine Diamonds' Shareholders Approve Acquisition by De Beers

Peregrine Diamonds announced its securityholders voted last Friday to approve the move by De Beers Canada to acquire the company for a total equity value of approximately C$107 million ($81 million). De Beers Canada and Peregrine Diamonds first announced the agreement in July, whereby De Beers would acquire 100% of the outstanding shares of Peregrine for $0.24 per share in cash. The transaction represents a 50% premium to Peregrine’s share price of $0.16 on July 18, 2018, and a premium of 44.5% to the volume weighted average price of the shares for the 20-trading days ended July 18, 2018.

Mining and Exploration

Lucapa Diamond Co. Reports "Excellent results" from Drill Samples in Australia

Australian-based Lucapa Diamond Company, whose flagship operation is the Lulo diamond project in Angola, reports the recovery 1,100 diamonds from a 178 kg drill sample at the Brooking diamond project in Western Australia’s West Kimberley lamproite province. The miner's "exceptional results" from the Little Spring Creek discovery included 18 macro-diamonds and 1,082 micro-diamonds, recovered from drill hole LSC/DH002. “The latest micro-diamond results from Little Spring Creek are some of the best I have seen in the diamond space," said Lucapa Managing Director Stephen Wetherall.

Mining and Exploration

West Australian Gov't. Looking for Miner To Restart Ellendale Mine

The Western Australian Government is seeking expressions of interest to reopen and operate the Ellendale diamond mine in the Kimberley region of Western Australia, reports Australian Mining. Ellendale previously provided about half of the world’s highly-valued fancy yellow diamonds, of which US jeweller Tiffany & Co was a major client. Mining operatoins ceased in July 2015 when Kimberley Diamond Company (KDC), which had operated the mine from 2002 to 2015, entered into administration.

Mining and Exploration

Namakwa Diamonds To Tender 30-ct Fancy Pink Stone in Antwerp

Namakwa Diamonds, the majority owner of the KAO mine in Lesotho, has announced the discovery and upcoming sale of its latest exceptional find, a 29.59 carat Fancy Pink diamond, named ‘The Rose of KAO’. The Rose was found on 12 June this year at Namakwa Diamond’s flagship mine KAO in Lesotho (owned 74.99% by Namakwa Diamonds, the rest by the government of Lesotho). The Rose will be shown and tendered in Antwerp with Bonas-Couzyn NV during KAO's fourth sale of the year (KAO-1804) from late September to early October.

Mining and Exploration

ALROSA's Profit Rises 19% in H1 as Rough Prices Climb

Russian diamond mining giant ALROSA said its first half net profit rose by 19 percent year on year to $865 million (RUB 58.3 billion) as higher average prices for gem-quality stones helped offset a drop in the volume of sales. Revenue increased by 8% to $2.5 billion (RUB 168 bn) on the back of higher average prices and a better sales mix, despite the 8% drop in sales by volume, with sales of gem-quality diamonds shrinking by 14%. ALROSA's EBITDA grew by 22% to $1.3 billion (RUB 89.1 bn), supported by higher top line and lower production costs.

Mining and Exploration

Botswana Diamonds' Partner Vast Resources Awarded Access to Marange Concession

Vast Resources, the AIM-listed mining company that signed last March a Memorandum of Understanding with Botswana Diamonds (BOD) to develop diamond resources in Zimbabwe, has been awarded exclusive access to a diamond concession area in the Marange Diamond Fields in the Chiadzwa region of Zimbabwe. According to a statement from BOD, the purpose of Vast's agreement is to carry out initial due diligence on the area with a view to concluding a joint venture agreement, the principal terms of which have been agreed, for exploration, mining and marketing.

Mining and Exploration

Conference on Geology of Diamond Deposits in Brazil Set for November

The 7th Conference on the Geology of Diamond Deposits in Brazil will be held in Salvador, Bahia, Brazil from November 4-7, 2018. "It is particularly appropriate that the 7th Conference will be hosted in the State of Bahia" the organizers write, "which is the largest producer of diamonds in Brazil, and the location of the first commercial diamond mine in Brazil which was developed on a kimberlite deposit, the primary source rock of diamond. This year’s conference also marks the 25th year since the first conference, which was held in the State of Mato Grosso in 1993." 

Mining and Exploration

Rio Tinto Opens New Pipe at Diavik Mine, NWT Canada

Rio Tinto yesterday celebrated the opening of a fourth diamond pipe, known as A21, at the remote subarctic Diavik Diamond Mine in the Northwest Territories of Canada, the miner announced in a press release. The new open pit pipe will provide an important source of incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine. The A21 pipe is located adjacent to Diavik’s existing mining operations at Lac de Gras.

Mining and Exploration

Mountain Province Sets Production High, Earns Lower Prices at 6th Sale of 2018

Canadian miner Mountain Province Diamonds earned $22.2 million (C$28.9 million) from 334,751 carats of Gahcho Kué goods sold at its recently completed sixth diamond sale of the year. The average price earned of $66 per carat was lower compared to the previous sale of $85 a carat, "driven by a much smaller offering of fancies and specials and a slight softening in prices for smaller, lower priced diamonds," said Reid Mackie, the Company’s Vice President Diamond Marketing, but the price earned was in line with expectations. 

Mining and Exploration

Diamond Development Initiative on FTC & LGDs: Truly Ethical is Artisanal

Ethics: it's "More than a PR issue!" The Diamond Development Initiative (DDI), a non-profit working to improve the lives and working conditions of artisanal and small-scale miners in Africa, issued a response to the recent decision by the US Federal Trade Commission (FTC) on synthetic diamonds and how it could impact the market for artisanally-mined diamonds.

Mining and ExplorationMarketingOpinion piece

Gem Diamonds’ 12th Big Rock of 2018 Weighs 138 Carats

Move Underground Slows Stornoway, Ends Q2 with $27M Loss

Canadian miner Stornoway Diamonds reported a net loss of US$27.5 million (C$35.9 million) during the second quarter despite higher revenues, as the transition to underground mining at the Renard mine impacted the company's carat recoveries and sales during the first half of the year. The move underground has taken longer than anticipated, as equipment availability and management problems have slowed their progress. The recorded loss compares unfavorably to the $3.1 million in profit the company achieved in the second quarter last year.

Mining and Exploration

Angola's Catoca Appoints New CEO, Tasked With Increasing Production

Angolan mining company Sociedade Mineira da Catoca, the fourth largest producer of diamonds in the world and the largest in Angola, has appointed Benedito Paulo Manuel as its new chief executive. He replaces Sergei Amelin, a Russian, who after three years of office has made his post available "to take on new challenges." Manuel said Catoca would in the next five years focus on improving operational efficiency to boost diamond output and tax contribution. Catoca currently produces over 86% of all Angolan diamonds by volume and 60% by value.

Mining and Exploration

Lucara Diamond Increases Output in Q2, Sells Fewer Exceptional Stones

Lucara Diamond Corp.'s Q2 results are a mixed parcel of sorts, as production and the recovery of 'specials' (+10.8 carats) increased while the company achieved softer prices, sold fewer exceptional stones and consequently achieved lower revenues than during the same period a year earlier. 

Mining and Exploration

ALROSA Rides Strong Market to 17% Gain in July Rough Diamond Sales

Russian mining giant ALROSA saw its July rough diamond sales increase by 17% year-over-year to $333.8 million from $286.1 million as demand for expensive high-quality diamonds remained strong. Total sales for the month increased by 16% to $339 million, including $5.3 million in polished diamond sales, a 28% decline from the same month in 2017, excluding the sale of the Dynasty Collection and the 51.38-carat round stone, the central diamond in the eponymous collection.

Mining and ExplorationRough Market

42-Carat Diamond Nets Tango Mining Nearly a Half Million, or $11,267 Per Carat

Canadian diversified junior mining company Tango Mining has sold a 42.26 carat diamond recovered from run of mine (ROM) gravel in the alluvial Oena Diamond Mine in the Republic of South Africa for $476,143, or $11,267 per carat, on tender at the Kimberley Diamond Exchange. 

Mining and Exploration

Higher Production Costs Impact De Beers' Earnings in H1 2018

Despite a slight uptick in revenues (to $3.2 billion from $3.1 billion), higher production costs weighed down De Beers' first half underlying earnings (EBITDA/earnings before interest, taxes, depreciation and amortization) by 9% percent, falling to $712 million from $786 million. While the company's top representatives emphasized its strong first half both operationally and financially, with continued growth in consumer demand, De Beers CFO Nimesh Patel attributed the decline in EBITA "principally" to "the stronger [South African] rand.

EconomyMining and Exploration

Gem Diamonds Recovers 11th 100+ Carat Stone This Year

Lucapa Nets $2M at First Sale in H2, Large Diamond Recoveries Rise in H1

Lucapa Diamond Company completed the first sale of alluvial diamonds for H2 2018 from the Lulo Diamond Project in Angola: the parcel of 2,527 carats achieved gross sale proceeds of US$2.0 million (A$2.7 million), representing an average price per carat of US$800 (A$1,079), as several large stones were excluded from the sale.

Mining and Exploration

Petra's FY 2018 Revenues & Production Rise, Shares Fall on 2019 Forecast

Petra Diamonds posted a 21% rise in revenue to $576.4 million for the twelve months to June 30 from $477 million a year earlier, citing higher diamond prices (+2% on like-for-like basis) and production (+15%); but the miner worried investors by saying it expects to produce 4.6 million to 4.8 million carats in 2019, well below the 5.0-5.3 million carats it forecast in July last year.

Mining and Exploration

ALROSA Nearing Start of Mining at Zarya: 3.5M Carat, $1B Diamond Deposit

ALROSA has announced that mining operations on the new diamond deposit Zarya are entering their final stage, having removing 10 million cubic meters of overburden over the last two years, and the company expects diamond mining will start in 2019. The deposit is estimated to contain total diamond resources of 3.5 million carats worth more than USD 1 billion. Its development will allow the miner to replace the declining reserves of Komsomolskaya pipe, where mining operations are nearing their completion. 

Mining and Exploration

Diamond Output at Gahcho Kué Nears 2M Carats in Q2, New High for Mountain Province

Canada’s Mountain Province Diamonds second quarter output at the Gahcho Kué mine jumped by 20 percent to 1.9 million carats compared with 1.6 million carats a year earlier as plant optimization led to better-than-anticipated performance, and recovered grade continues to outperform expectations. The plant treated 899,000 tons during the quarter, 17% ahead of the same quarter last year despite a decline in ore tons mined, and achieved a higher average grade.

Mining and Exploration

Firestone Diamonds Ends FY 2018 With Record Production in Q4

Firestone Diamonds, a new diamond producer with operations focused in Lesotho (Liqhobong Diamond Mine, owned 75% by Firestone and 25% by the Government of Lesotho), reports it achieved "exceptional operational performance result[ing] in several new production-related records during the final quarter." Specifically, its Q4 recoveries were 36.8% higher than Q3 at 263,512 carats, resulting in a full year total of 835,832 carats, within guidance of between 800,000 and 850,000 carats.

Mining and Exploration

Investment Fuels Zimbabwe's 44% Increase in Diamond Production

Zimbabwe's state-owned diamond mining company, the Zimbabwe Consolidated Diamond Company (ZCDC), reported a massive 44 percent increase in rough diamond production during the first half of 2018, according to The Sunday Mail, with investment in modern mining and processing equipment and the resumption of conglomerate mining* identified as the main drivers.

Mining and Exploration

ALROSA Ramps Up Output in Q2 2018 To 8.5M Carats, Rough Prices Rising

Russian diamond mining giant ALROSA ramped up the volume of processed ore from their alluvial diamond operations, resulting in a 15% increase in overall production compared to the prior quarter while remaining 18% off the pace of production volume during the same quarter a year ago. The miner produced 8.5 m carats during the last three months compared to 7.4 million carats in Q1.

Mining and Exploration

De Beers To Acquire Canadian Junior Miner Peregrine Diamonds

De Beers Canada and Peregrine Diamonds Ltd. today announced they have entered into an agreement whereby De Beers will acquire 100% of the outstanding shares of Peregrine for $0.24 per share in cash for a total equity value of approximately C$107 million (US$81 million). Peregrine Diamonds is a TSX-listed diamond exploration and development company and owner of the high quality Chidliak diamond resource located in Canada’s Nunavut Territory.

Mining and ExplorationWorld News

De Beers Increases Production in Q2 To Meet Demand, Rough Prices Rising

De Beers rough diamond production increased three percent to 9.0 million carats during the second quarter of 2018, "reflecting production increases to meet stronger demand as well as the contribution from the ramp-up at Gahcho Kué", the company today announced.

Mining and Exploration

Rio Tinto Solidifies Diamond Production Gains in Q2 2018

Rio Tinto reports rough diamond output at its Argyle Mine in Australia nearly hit 3.5 million carats for the second straight quarter in 2018 (3.48 million carats in Q2, 3.5 million carats in Q1), marking an 8% increase over output in the second quarter of 2017 and continuing the gains recorded in the first quarter. The mining giant has now topped 7 million carats produced at Argyle in the first half of 2018, a 13% increase over the first half of 2017. Rio Tinto attributes the increase over Q2 2017 to an increase in tons processed following improved plant availability.

Mining and Exploration

Botswana Diamonds Encouraged by ALROSA JV Exploration Results

Botswana Diamonds (BOD) on Wednesday released an update on the company's Sunland Minerals exploration projects in the Kalahari Desert in Botswana - Sunland Minerals is a JV with ALROSA - noting they were encouraged with the latest results. The exploration company has completed its mineral sampling over the 8 previously discovered and announced high contrast geophysical anomalies in the Gope Region of the Kalahari Desert, with all 8 anomalies turning up kimberlitic indicator minerals ("KIMs") - 267 in total. Analysis of the KIMs concluded that the sources were likely to be local.

Mining and Exploration

Lucapa Diamond’s Latest Big Find Weighs in at 114 Carats

Lucapa Diamond Co. has announced the recovery of a 114 carat diamond from the alluvial Lulo Diamond Project in Angola, the 11th +100 carat diamond recovered to date from the prolific Lulo diamond field and the third so far in 2018. The 114 carat diamond adds to a significant inventory of large diamonds currently held for a later sale by Lulo mining company Sociedade Mineira Do Lulo.

Mining and Exploration

BlueRock Diamonds Increases Production in 2017 at Kareevlei Mine in S. Africa

BlueRock Diamonds, a junior miner listed on AIM in London and operating the Kareevlei Diamond mine near Kimberley in South Africa, announced its production increased significantly in 2017, yielding high-quality diamonds with an average value per carat of $362. The miner said that it met its two primary targets in 2017 – operational profitability and monthly processing volume of 25,000 tons, which unearthed 2,438 carats in the first half of the year, compared with 543 carats, a year earlier.

Mining and Exploration

Namibia's Diamond Output To Maintain Growth in 2018 Before Contracting

Namibia's diamond mining industry is estimated to maintain a high growth level during 2018 before contracting in 2019 due to the depletion of onshore diamond deposits, according to the Bank of Namibia's economic outlook for July 2018. The sector's projected growth is 10.9% in 2018, which is reasonably high, despite a slowdown from 12% in 2017. The diamond sector is, however, expected to contract by 5.3% in 2019 due to lower production from onshore mines during that year.

Mining and Exploration

2017 Global Rough Diamond Production Hits New High

Global rough diamond production in 2017 grew to levels not seen since 2008, and achieved its highest overall value since the Kimberley Process started gathering statistics in 2004 - and most likely the highest value ever for a single year of production. The volume of diamond output in 2017 surged by 19% to 150.9 million carats (126.4m cts in 2016), with the average price increasing 8% to $105 per carat.

Mining and ExplorationRough Market

Stornaway's Diamond Production & Sales Slip in Q2 with Transition Underground

Canadian miner Stornoway Diamonds saw its sales and diamond output slip in the second quarter, with the results, "reflect[ing] the ongoing transition from open pit to underground mining and the introduction of ore-waste sorting." Stornoway held two tenders in Antwerp compared to three in Q1, earning US$21.9 million (C$28.6 million) from the sale of 201,283 carats, compared to US$43.3 million (C$56.6 million) from the sale of 399,135 carats in Q1.

Mining and ExplorationRough Market

Petra Diamonds Sells Stake in Ekapa Mining JV for $22 Million

Petra Diamonds late last week announced that it had sold its stake in the Kimberley Ekapa Mining joint venture (KEM JV) to its namesake partner, Ekapa Mining, for about 300 million rand ($22 million).

Mining and Exploration

Forest Flames Subside, Stornoway Recommences Renard Mine Operations

Rain clouds have chased away the forest fire hazard at Stornoway Diamonds' Renard Mine in Quebec, and the miner expects to commence remobilization of staff to the mine this morning, July 4. "Over the last 48 hours, rainfall and a shifting of the prevailing winds have allowed the principal fires south of the Clarence and Abel Swallow Airport to be contained, allowing for the safe transit of mine staff to the Renard Mine. Stornoway expects to recommence full mine operations forthwith." Hopefully this will be the last appearance of the 'dog days of summer' for the Canadian miner.*

Mining and Exploration

Stornoway Suspends Renard Mine Operations Due to Forest Fire

Stornoway Diamond Corporation has announced that operations at the Renard Diamond Mine have been temporarily suspended due to a local forest fire. As of 6:30am EST on Monday July 2, the fire was located 12.6 kilometres south of the Renard Mine, but just 3.6 kilometres south of the Clarence and Abel Swallow Airport and within 0.1 kilometre of the mine’s access road. It covers an area of 18 kilometres by 6 kilometres and is being fanned by northerly winds.

Mining and Exploration

Angola Plans to Correct The Way Its Rough Diamonds Are Sold

Angolan President João Lourenço has vowed to reform Angola’s diamond industry, increasing its transparency in order to facilitate the exportation of goods, attract foreign investment and increase government revenue from the country's natural resources.

Rough MarketMining and Exploration

Mountain Province Sets New High for Monthly Tender in Antwerp

Canadian miner Mountain Province Diamonds (49% participant with De Beers Canada in the Gahcho Kué diamond mine in Canada’s NWT) announced the results of its recently completed fifth diamond tender sale of 2018, and the total proceeds from the sale - US$30.3 million (CDN$40.0 million) - set a new high for Mountain Province’s tender results to date. The tender also included the sale of the miner's highest value individual diamond, as well as the highest attributable value per ton ($234) to date, with a normalised value at US$86.

Mining and ExplorationRough Market

Lucapa Diamond Co. Unearths 90-Ct. Yellow at Mothae Mine, Lesotho

Australian-listed Lucapa Diamond Company Limited recovered an 89.75-carat yellow diamond from the Mothae Diamond Project in Lesotho. The diamond was recovered from the current bulk sampling program at Mothae as construction of the new 150 ton-per-hour commercial diamond plant continues on schedule for H2 2018 commissioning, the company said.

Mining and Exploration

Lucara's Karowe Mine To Yield Large High-Value Diamonds Through Open Pit Lifetime

Lucara Diamond yesterday published the results of its Mineral Resource Update for its Karowe Mine in Botswana, which showed it would continue to yield a high grade of high quality diamonds for the remainder of its open pit life, and that underground mining was likely to continue until 2036. The remaining Indicated Mineral Resource for Karowe's AK06 kimberlite includes 7.9 million carats hosted in 57.85 million tons of ore at an average grade of 13.7 carats per hundred tons (cpht), with an average modelled diamond value of US$ 673 per carat.

Mining and Exploration

ALROSA To Slow Production at Major Mine, 2018 Output Unchanged

Russian diamond miner ALROSA has decided to suspend the construction of deep mine levels at its International underground mine due to health and safety concerns, which will impact the mine's output plan, though the miner's 2018 production plan remains unchanged.

Mining and Exploration

10 Rocks Net Lucara Diamond $32.5 Million at Exceptional Stone Tender

Lucara Diamond Corp.,a leading producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana, achieved $32.48 million at its 12th Exceptional Stone Tender which concluded yesterday. The tender consisted of 10 single stone lots, ranging from 472.37 to 40.4 carats in size, totaling 1,453.06 carats and included two diamonds greater than 300 carats.

Mining and ExplorationRough Market

Lucapa Diamond Earns $2 Million from Sale of Angolan Rough

Australian diamond miner Lucapa Diamond Corp. earned US$2 million (A$2.7 million) in revenues from its latest sale of rough diamonds from the Lulo Diamond Project in Angola. Lucapa sold 1,782 carats at an average price per carat of US$1,150 (A$1,530). Including this sale, the miner's gross proceeds from Lulo diamond sales to date in H1 2018 now sits at US$15.9 million (A$20.2 million) at an average price per carat of US$1,642 (A$2,093). The sale excluded a number of large white specials (+10.8 carats) and a coloured special, which were held back for a future sale.

Mining and ExplorationRough Market

Lucara Appoints New VP of Corporate Development and Strategy

Lucara Diamond Corp. has announced the appointment of Ayesha Hira as their new Vice President of Corporate Development and Strategy, and has already prompted speculation among analysts in stating her primary responsibilities will be, "investigating strategic growth opportunities including mergers and acquisitions." It is unclear whether the M&A in mind are looking upstream to mines and exploration projects, or downstream to something else entirely.

Mining and Exploration

Angola's Catoca Mine Says Undervalued Diamonds Cost It Nearly $500M

Angola’s Catoca, the world’s fifth largest diamond mine, estimates it lost $464 million over the past six years due to a government-imposed marketing system that obliged it to sell production below international prices, writes Reuters after having been shown in March a company presentation. President João Lourenço has vowed to reform Angola’s diamond industry, increasing its transparency in order to facilitate the exportation of goods and services and attract direct foreign investment, all in the interest delivering greater revenues from the country's natural resources.

Rough MarketMining and Exploration

Landmark Deal in S. Africa as Illicit Artisanal Diamond Miners Granted Permits

In a landmark deal - hailed as a first ever in South Africa - Kimberley’s illicit miners, known as 'zama-zamas', have now been legitimized. Deputy Minister of Mineral Resources Godfrey Oliphant issued the artisanal miners with mining permits in an agreement aimed at curbing the rapid growth of illegal mining which has been spurred on by rising unemployment. The newly-licensed informal miners have been given access to 500 hectares of land owned by Kimberley Ekapa Mining (KEM JV), a joint venture between Petra Diamonds and Ekapa Mining.

Mining and Exploration