Australian miner Lucapa Diamonds earned $4.2 million from its latest tender of rough goods from its Lulo alluvial mine in Angola, as it continues to hold back high-value goods until it can take advantage of Angola's new marketing policy. The sale involved 3,411 carats and earned an average price of $1,220 per carat, and brings the miner's total sales of Lulo diamonds for the year to $24.5 million at an average price per carat which now stands at $1,353, a figure which has declined from an average price per carat of $1,642 as of the half-way point of 2018.
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.
Australian junior miner Lucapa Diamond Company has completed the seventh sale for 2017. The company earned US$7.4 million from the tender of 3,214 carats of rough alluvial diamonds from the Lulo Diamond Project in Angola. This represents an average price of $2,298 per carat, and brings gross proceeds from Lulo diamond sales in 2017 to US$24.3 million, for an average of US$1,640 per carat. The company notes that diamond recoveries and grades have improved at Lulo since the return to the high-value Mining Block 8 and 6 areas, after the Angolan wet season.
Australian junior miner Lucapa Diamond Company earned US$1.5 million from the sale of 2,070 carats of rough alluvial diamonds from the Lulo Diamond Project in Angola during the sixth sale of 2017. This represents an average price of US$710 per carat, and brings gross proceeds from Lulo diamond sales in 2017 to US$17 million, for an average price of US$1,485 per carat. The company notes that diamond recoveries and grades have improved at Lulo since the return to the high-value Mining Block 8 and 6 areas, after the Angolan wet season.
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.
Australia's Lucapa Diamond Company reports that production and sales of diamonds from the Lulo Diamond Project in Angola jumped 63% and 58% respectively in the second quarter of 2017. Lulo alluvial mining company, Sociedade Mineira Do Lulo (Lucapa is 40% owner and operator) produced 4,203 carats of diamonds during the quarter, bringing their total for the first half of 2017 to 8,301 carats, a 46% overall increase compared to the year prior. In Q2, the 4,203 carats were obtained from 3,336 stones, with their average weight holding steady at 1.3 carats.
Australian junior miner Lucapa Diamond Co. earned US$0.95 million (A$1.25 million) from a parcel of 1,236 carats at their fifth sale in 2017 of rough diamonds from the Lulo Project in Angola. This represents an average price of US$770 (A$1,013) per carat, and brings their total 2017 sales to US$15.4 million (A$20.3) at an average price of US$1,620 (A$2,132) per carat.
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.
Canadian junior miner Diamcor Mining Inc. yesterday announced the recovery a 5.36 carat green gem quality octahedron rough diamond from the newly expanded facilities at the company’s Krone-Endora at Venetia Project in South Africa.
Diamcor Mining Inc. announce the results of its second tender and sale of rough diamonds from the newly expanded facilities at the Company’s Krone-Endora at Venetia Project in South Africa. Diamcor sold 3,265.07 carats of rough diamonds at the second sale of the quarter for gross proceeds of $702,635.70, resulting in an average price of $215.20 per carat. The tender included the sale of three specials (+10.8 carats): 12.80 ct, 12.89 carat gem quality, and a 13.51 ct rough diamond.
Zimbabwe has taken over income from all diamond mining activities in the country after injecting $80m into the Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to run diamond mining activities, reports miningmx. The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to the fiscus” in a time of decline in gem mining operations throughout the country.
A photograph of the 706-carat diamond (previously reported as 709-ct.) discovered by a Christian pastor in Sierra Leone's eastern Kono region has been published on The Republic of Sierra Leone's State House website. A local chief from Kono handed the stone to President Ernest Bai Koroma on behalf of Emmanuel Momoh who made the discovery. The government plans to auction it.
The Zimbabwe Consolidated Diamond Company (ZCDC) has fired its acting chief executive Ridge Nyashanu amid reports of a dramatic plunge in production and revenue, reports the Zimbabwe Independent. The ZCDC produced about 900,000 carats last year from peak figures of 12 million carats annually. The latest firing comes a few months after the ZCDC relieved its former CEO Mark Mabhudhu of his duties in unclear circumstances. Nyashanu was replaced by Morris Mpofu, who was the head of the exchange control unit at the Reserve Bank of Zimbabwe (RBZ).
Lucapa Diamond Co., the Australian miner with its main operations at the Lulo Diamond Project in Angola, hqs confirmed recovery of a high-quality (Type IIa, D color) 227-carat diamond. It is the second largest diamond recovered to date at Lulo, following the recovery of a 404-carat stone a year ago. The latest diamond was recovered using Lucapa's new XRT large diamond recovery circuit recently installed at Lulo, and derived from its new Mining Block 28. It is the 7th +100 carat diamond recovered to date at the project.
Australia's Lucapa Diamond Company Limited has announced that diamond production in the December 2016 Quarter from the Lulo Diamond Project in Angola was 5,313 carats, an increase of 147% on the corresponding quarter in 2015 and also the highest quarterly production achieved during the Angolan wet season. For the year, Lucapa's production was up 136%, from 8,394 to 19,833 carats recovered.
Lucapa Diamond Co., the Australian miner operating their main resource at the Lulo Project in Angola, has annouced their largest single sale of rough diamonds to date: $8.3 million from the sale of parcel of 1,864 carats, representing an average price per carat of $4,452. This is more than was achieved during the entire final quarter of 2015, where three sales tallied $8.1 from three sales, and is equivalent to 65% of the company's entire revenue in 2015. Including this sale, the year-to-date sales of Lulo diamonds now sits at $44.8 million at an average price per carat of $3,132.
Trans Hex, a JSE-listed alluvial diamond mining company with well-established land operations in South Africa and interests in Angola, experienced a complete turnaround of fortunes in the first six months of 2016 ended September 30, as net profits moved to $2.43 million (R32,5 million) as compared to a $2.43 million net loss for the first half of 2015.
Following their announcement earlier this month about achieving record levels of rough diamond production at their Lulo Diamond Project in Angola in Q3 of 2016, Australia's Lucapa Diamond Co. has now announced corresponding record levels of sales during the same period. Sales of 12,438 carats during the three-month period represent a 206% jump in Q3 2016 compared to 2015, while the value of those sales rose 1,343%, from $716,551 in 2015 to over $10.3 million in 2016.
In southwestern Namibia lies a vast area - now a national park - that has been off-limits to visitors for more than a century. It stretches along the Namibian coast for a distance of 200 miles starting from the South African border at Oranjemund to around 72 km north of Lüderitz.
Continuing a year of impressive results, Lucapa Diamond Company has reported record diamond production in Q3 2016 from the Lulo Diamond Project in Angola. Sociedade Mineira Do Lulo (SML) produced 8,853 carats from its alluvial operations in the September quarter, a 154% increase over the same period in 2015. This puts YTD production at 14,521 carats, a 233% increase over the first nine months of 2015. Q3 production also included a record number of 'specials' (+10.8 carats), with 137 stones combining for 3,210 carats.
Namibian Underwater Technologies and Mining (NUTAM Operations), a marine mineral exploration, mining and dredging entity within the International Mining and Dredging Holdings (IMDH) group – which controls the company’s Namibian and South African entities – has recently completed the first phase of its underwater diamond operations off the Namibian coastline. The company has commenced trenching operations in the Samicor ML56 and Diamond Fields Namibia ML 111 areas adjacent to where De Beers have been mining for diamonds in the Atlantic Ocean since the 1990s.
Alluvial diamond miner Rockwell Diamonds, with operations in South Africa, is in a “state of despair”, its incoming chief executive Tjaart Willemse said last week in the release of quarterly results to end-August., adding that the company will implement a comprehensive operational turnaround. The statement from Willemse reads: “From my observations to date on the general health of the business and understanding of the main contributors to its current position, it is clear that the business finds itself in a state of despair for a number of reasons.
Lucapa Diamond Company, the Australian diamond miner operating at the Lulo Diamond Concession in Angola, sold a 3,642-carat parcel of alluvial diamonds for gross proceeds of US$4.4 million (A$5.8 million), representing an average sale price of US$1,212 (A$1,606) per carat.
Lucapa Diamond Company, the Australian diamond miner operating at the Lulo Diamond Concession in Angola, announced a series of production records achieved in July 2016, most notable among which is the recovery of more (59) special diamonds ( >10.8 carats) in one month than in the entire previous half year (53). This led to a record-breaking total recovery of 3,164 carats for the month, and their largest single-day total (448 carats) ever. This banner month was possible owing to a record diamond grade of 15 carats per 100 cubic meters.
Canadian junior minor Rockwell Diamonds, which operate and develops alluvial diamond deposits in South Africa, reported a return to profit its rough diamond revenues leaped 41% to $9.3 million (C$12.1 million), and it reported an after-tax profit of $438,000 (C$570,000) during the first quarter of the fiscal year 2017.
Lucapa Diamond Company, the Sydney-listed diamond producer and exploration firm, is in discussions to increase its stake in its 40%-owned Lulo diamond mine in Angola, reports Miningmx. Stephen Wetherall, CEO of Lucapa, said discussions were underway with partners Rosas e Petalas, a private Angolan company which has a 28% stake in the mine, and Angola’s state-owned diamond company, Endiama (32%). Endiama is considering either a cash sale for part or all of its stake, or a swap of its stake for equity in Lucapa Diamonds.
Canadian alluvial miner Rockwell Diamonds, operating in South Africa, published its results for the three and twelve months ended February 29, 2016, showing a 30% fall in annual revenues to $36.2 million (C$47.3M) from $52 million (C$68M) as rough diamond sales fell 34% to $28.85 million. This brings the company's losses for the year to $21.65 million (C$28.3M) as compared to $10.7 million in 2015, an increase of 101% as an official restructuring process was initiated, including Saxendrift operations nearing closure.
Australian miner Lucapa Diamond Company sold a parcel of 1,862 carats of alluvial diamonds from its Lulo Diamond Project in Angola for $2.1 million (A$2.9 million), reporting an average price of $1,150 (A$ 1,580) per carat. Since this lastest sale, further large 'specials' (diamonds weighing more than 10.8 carats) recovered from trial mining include diamonds weighing 60 carats, 35 carats and 21 carats.
Canadian alluvial miner Rockwell Diamonds, operating in South Africa, posted a 45% drop in sales on the year to $7.1 million in its fiscal fourth quarter for the three months to the end of February. The volume of sales dropped by more than 40% to 4,925 carats, while production at its operations in South Africa fell 33% to 4,714 carats.
Lucapa Diamond Company (Australia) has announced the recovery of more large gem-quality diamonds during trial mining of the E46 alluvial terraces at its Lulo project in Angola. The latest three specials (diamonds +10.8 carats) include two high-color white Type IIa diamonds weighing 88 and 30 carats. It also states that more than 30 percent of the diamonds above 1-carat recovered in the E46 project are Type IIa, a rare category of diamonds that are almost, or entirely, devoid of nitrogen impurities, and are considered the highest level of purity in a rough diamond.
Venezuela concluded a week of meetings with representatives of the Kimberley Process on Friday in what has been hailed as the final steps towards the South American country’s recertification as an international producer of non-conflict diamonds, reports venezuelanalysis.com.
Record diamond production, including the largest diamond ever found in Angola, has generated the Lulo diamond partners gross revenue of $23M (A$32.5M) in Q1 2016, "underlining the strong global demand for large top-tier gems." Lucapa Diamond Co says the result was on diamond sales of 1,931cts at an exceptional average selling price of US$11,983ct (A$16,831ct), which included the $16M (A$22.5M) sale of the 404-carat Lulo gem - the largest recoded diamond ever recovered in Angola.
Lucapa Diamond Company has discovered a 68.1-carat Type IIa D color diamond at trial mining operations at a new area within its Lulo operation in Angola. The miner said that the gem was among eight special diamonds recovered during a trial mining operation at the E46 alluvial terraces which is about 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been producing diamonds.
Saying that existing miners had robbed the country of its wealth, President of Zimbabwe Robert Mugabe on Thursday said that his government would take possession of all diamond operations. “The state will now own all the diamonds in the country,” Mugabe said during a two-hour interview with state broadcaster ZBC TV. “Companies that have been mining diamonds have robbed us of our wealth.
Lucapa Diamond Co. has announced the sale of another 1,349 carats of diamonds from the Lulo Diamond Project in Angola for $6.8 million (A$9.6 million). This follows the sale of the record-setting 404 carat diamond that sold for $16 million (A$22.5) just a few days ago. The latest sale brings the total number of carats sold in the March 2016 quarter to 1,931, earning the company gross revenues of $23.5 million (A$32.5 million).
Rough diamond analyst Paul Zimnisky takes a comprehensive look at the current and projected output for the entirety of the diamond mining industry, concluding that "2016 global diamond production by-volume is forecast to be 137 million (M) carats, or +1.3% over 2015 estimates," despite efforts by De Beers and Rio Tinto to limit global diamond supply. Stable Russian production, new mines, and production increases by Dominion Diamond Corp and Petra Diamonds in particular, he writes, will serve to offset these efforts.
The Ministry of Geology and Mines reports that Angola exported 624,000 carats of diamonds last month worth $86.1 million, equalling an average price of $138 per carat. This represents year on year fall of 17% in volume, down from 751,000 carats in October 2014, and a 28% drop in price per carat. The average price was $192/ct. in 2014. Production in October reached 800,000 carats, an annual increase of 9.7%.
Lucapa Diamonds (Australia) sold its seventh parcel of diamonds from the Lulo Project in Angola for a gross revenue of US$1.5 million. The parcel comprised 1,339 carats of Lulo alluvial diamonds, representing an average selling price of US$1,120 per carat. The latest sale brings the total proceeds to from the sale of seven parcels weighing 9,377 carats to US$14.4 million, for an average selling price of US$1,532 per carat. As with previous diamond sales, Lulo will use the latest proceeds to fund ongoing operations at Lulo.
BDI Mining Corp. a subsidiary of Gem Diamonds, has interests in the Cempaka alluvial diamond mine, one of Indonesia's largest diamond mines. In 2006, BDI discovered a 3.02 carat fancy coloured intense-blue diamond and reported recovering 50,000 carats of gem quality diamonds that year. Gem Diamonds elected to suspend mining operations in 2008 due to waste water discharge issues, but this has not stopped freelance treasure hunters from mining the site.
Just last week, Zimbabwe Mines and Mining Development Minister Walter Chidhakwa announced that diamond mining licences for companies operating in the Marange alluvial area have expired, and has now said that they risk losing their licences altogether, mainly because they failed to do exploration work. They also defaulted on their fees, failed to make significant investments in their operations and misrepresented their investments in machinery, which they actually leased.