Botswana Diamonds (BOD), the AIM- and BSE-listed diamond miner that holds exploration licences in Botswana and South Africa and a JV in Zimbabwe announced that its associate Vutomi (BOD interest 40%) has been granted environmental authorisation over a substantial portion of the residual diamond-bearing gravels produced from the very high grade Marsfontein mine in South Africa, which is contiguous to their Thorny River operation. In a statement on Thursday, Botswana Diamonds highlighted that this authorisation was a critical step towards obtaining a mining permit, which it expected to receiv
Trans Hex, the Johannesburg Stock Exchange (JSE)-listed diamond exploration and mining company which has diamond operations in South Africa and Angola, has announced the resignation of its CEO Llewellyn Delport as persistent challenges to its South African operations have weighed on its operational performance and placed the future of the mining company - which has been in existence for more than 50 years - in doubt. Delport was appointed Trans Hex chief executive in 2004 and his departure is effective August 31.
The UK-based and AIM- and BSE-listed exploration company Botswana Diamonds (BoD) recently received positive results from bulk sampling at the Thorny River project in South Africa, while its joint-venture partner Vast Resources is said to be moving closer to mining diamonds in Zimbabwe. Last week, BoD said its associate Vutomi had received permisston to sell diamonds recovered during bulk sampling at their Thorny River project in South Africa, which will enable funding of further exploration and development by Vutomi. The project has deliverd 256 carats of diamonds to date.
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.
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.
Botswana Diamonds has identified the potential of the Free State in South Africa to host additional commercial kimberlites following archival research concerning the history of diamond mining in South Africa. This research, first discussed in August 2017, found that in addition to the well-documented iconic operations at Jagersfontein, Koffiefontein and Kimberley, a number of smaller diamond mines existed in the area, but knowledge of them had essentially been lost over the
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%.
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.
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.
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.
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.
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 ...
Leave it to Botswana Diamonds' managing director James Campbell to find a groundbreaking approach to diamond exploration.
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.
Canadian junior miner Diamcor Mining Inc. sold 8,318.82 carats of rough diamonds for US$1,851,122.55 ($222.52 avg/ct) in fiscal Q1, ending June 30, 2017, from the newly expanded facilities at the company’s Krone-Endora at Venetia Project in South Africa. This represents a ~38% decrease compared to the 13,384.72 carats tendered and sold in the first fiscal quarter ending June 30, 2016, but only a 3% decrease in revenues compared to the $1,905,978.44 realized during the same period in the prior fiscal year.
The South African government has raised the minimum threshold for black ownership of mining companies to 30 percent in a surprise move that weakened the rand and knocked shares in the London-quoted mining groups Anglo American and Petra Diamonds. Shares in Anglo American have fallen sharply after South Africa announced changes to its mining regulations. They dropped 57p, or more than 5 percent to £10 after South Africa’s mineral resources minister Mosebenzi Zwane said miners have to raise their black-owned stakes to 30% from 26% under a revised version of its mining charter.
Canadian junior miner Tango Mining, which holds an interest in the Oena Diamond Mine, an alluvial diamond property, Northern Cape Province, South Africa, produced a total of 465 carats (311 stones at an average size of 1.498 carat per stone) during the period 18 April 2017 to 19 May 2017. They sold a total of 527 carats on tender in Johannesburg or in Dubai, achieving an average price of $812 per carat.
DiamondCorp, the UK-based South African junior diamond miner that underwent an autumn of misfortune including fires and floods at its Lace Mine, has filed to appoint administrators of the company after a business rescue plan failed to result in a solution to their liquidity issues. The decision of the listed holding company to go into administration comes despite being months away from steady-state production, as local bondholders and the Association of Mineworkers and Construction Union (ACMU) frustrated it efforts to refinance, writes Business Day.
This article is reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.
Diversified miner Anglo American has released its Q1 2017 production report, announcing De Beers rough diamond production during the peariod increased by eight per cent over Q1 2016 to 7.4 million carats, "reflecting the contribution of Gahcho Kué in Canada, as well as increases in response to improved trading conditions." Q1 2017 production fell slightly from 7.8 million carats produced in Q4 2016.
South African junior miner Rockwell Diamonds has managed to temporarily stay an interim liquidation by applying for business rescue while it waits for a hearing in the Kimberley High Court regarding the order, currently scheduled for April 19.
Canadian diversified junior miner Tango Mining reports that during the one month period ending 20 March 2017, the company produced a total of 307.94 carats (183 diamonds), sold for an average price of US$875 per carat. The three highest value diamonds recovered during this period included an 8.74 carat diamond, sold at $2,584 per carat, an 8.64 carat diamond achieving $2,558 per carat and a 3.48 carat diamond, which sold at $4,382 per carat.
There is no ways that we, as the Department of Mineral Resources (DMR), can in good conscience grant permits to artisanal miners for deep-level mines, that in most cases are being accessed using old, abandoned shaft infrastructure, which are unsafe. We would essentially be sending people to their deaths. Our aim is to allow artisanal miners to undertake mining on surface deposits by supporting them in attaining the required permits and procuring the necessary personal protective equipment.
As announced in December 2016, junior miner Rockwell Diamonds signed an agreement to sell "none-core assets" - the Remhoogte and Saxendrift mines - to Nelesco Proprietary 318 for US$3.48 million (ZAR45m); it has now been completed. The sale and purchase agreement also releases Rockwell from environmental and tax liabilities (rehabilitation liabilities) totalling US$5.40 million (R70m) as well as the transfer of 100 employees.
Australia's Tychean Resources, a gold exploration and natural resource development company, has agreed to buy a 74 per cent stake in South African-based diamond company, Blom Diamonds, reports Australian Mining. The deal is reported to be worth up to $4.1 million (AUD 5.5 million).
Rockwell Diamonds may have set an all-time record for the length of a press release title - "Rockwell’s third quarter results impacted by malicious litigation, however the strategic repositioning programme makes progress as new leadership is appointed and non-core assets along with related liabilities rationalized" - but this might be an intentional ploy to discourage readers from reading any further.
DiamondCorp, the UK-based South African diamond miner that has undergone an autumn of misfortune including fires and floods at its mine, reports soft prices obtained from the sale of rough diamonds recovered from the Lace mine prior to being placed in business rescue: $115.46 per carat.
After a tumultuous week that started with the announcement that full production at its Lace diamond mine in South Africa would be delayed until February 2017 and that it needed to raise additional equity and/or debt of around $3m to 3.65m (£2.5m to £3.0m) in the near term to cover the anticipated cash required to fund operations through to commercial production, included
Petra Diamonds has released its annual report for FY 2016, with 16% higher rough diamond production at 3.7 million carats leading to only a 1% gain in total revenue at $430.9 million, and a 1% increase in adjusted net profit at $63.6 million. Chairman Adonis Pouroulis states, "While we achieved 16% higher production during the year, revenue was only up 1% as the higher volumes (albeit of lower value goods from the Kimberley tailings operations) were offset by rough diamond prices on a like-for-like basis, being down circa 6% in comparison to FY 2015 ...
Natural Diamond Corporation and DiamondCorp will be offering rough production from the Lace Mine, Free State Province, South Africa from September 12-19 in Antwerp. Interested parties can request an appointment via Natural Diamond Corporation, +32 (0)3 401 36 36, +32 (0)489 950 970, email@example.com.
Diamond production for the first quarter of 2016 decreased by 10 per cent to 6.9 million carats, reflecting the decision to reduce production in response to trading conditions during 2015, writes Anglo American/De Beers in a press release. Full year production guidance (on a 100% basis) remains unchanged at 26-28 million carats, subject to trading conditions. Debswana (Botswana) production decreased by five per cent to 5.3 million carats as a result of the strategy to align production to trading conditions.