Alrosa, the world's largest diamond mining operation, and Zimbabwe's national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) have signed a joint venture agreement to develop diamond deposits in Zimbabwe. The Russian miner made certain to emphasize that its developmental work and any future mining activities would not take place in the troubled Marange region: "We would also like to note once again that ALROSA does not plan operations in Marange."
Newfield Resources has received the green light to commence development of the Tongo Kimberlite Project (Tongo) in Sierra Leone, which will become the world's newest diamond mine which is expected be operational in 2020. Confirmation of the plans to develop the mine came in the form of the recently completed postive Front End Engineering and Design (FEED) study, establishing probable reserves at just over one million carats of diamonds at 100 cpht, with a Final Investment Decision (FID) expected in Q3 2019.
The Bunder Diamond Project in the Chhatarpur district of Madhya Pradesh in India - a deposit estimated to have diamond reserves of 34.2 million carats - will be put up for auction, according to a decision taken by the state government at a cabinet meeting this week. The Project disappeared from the headlines about two years ago following Rio Tinto's announcement in February 2017 that it would relinquish its interest in the project "due to commercial considerations" and gift it to the Government of Madhya Pradesh.
Mountain Province Diamonds has provided an update to the Mineral Resource Estimate for the Faraday 2 kimberlite, reporting a 74% spike to 5.45 million carats of diamonds, outstrippiing the 2017 estimate of 3.13 million carats. The update now cites an inferred resource of 2.07 million tonnes of kimberlite, a 49% increase from the1.39 million tonnes cited in 2017. The overall grade has also increased by 17% to 2.63 carats per tonne, and the average value per carat has jumped 25% to US$140 from the 2017 estimate of US$112 per carat.
Mining in Africa is at the core of our business, just as it always has been, and just as it will be in future ... De Beers is and will remain a natural diamond business.
- De Beers CEO Bruce Cleaver discusses Africa portfolio, exploration, technology and laboratory-grown diamonds.
Chinese mining company Anjin is set to resume mining in Zimbabwe at the Chiadzwa mining fields in Marange in May this year, while Russia’s Alrosa will complete setting up its office by the end of next month, reports The Sunday Mail from Zimbabwe. Anjin had to shut operations back in 2015 as the Mugabe administration forced the closure of seven mining companies and the subsequent merger of their assets into the Zimbabwe Consolidated Diamond Company (ZCDC). Now the company is expected to invest an initial US$20 million to restart operations.
Lucapa Diamond Co. reports that its inferred diamond resource estimate of in-situ carats at its 40%-owned Lulo diamond mine in Angola has nearly doubled since it was last analyzed in May 2017, increasing 90% to 80,400 carats. The modelled average price per carat also rose to $1,420, a 17% increase over the previous modelled estimate of $1,215 per carat. Overall sales of Lulo diamonds to date total ~US$141 million at an average price per carat of ~US$2,100.
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.
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.
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.
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.
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
Junior miner Botswana Diamonds (BD) has acquired Alrosa's 50% share in the Sunland Minerals project for a "nominal sum". BD's 100% ownership of Sunland now enables a new investor to enter as a new joint venture partner, and they say that negotiations with this potential partner are at an advanced stage. The potential partner is said to be a large diamond producer with new ideas and keen to find new kimberlites in Botswana.
UK-listed Botswana Diamonds said it is feeling "confident" that its Thorny River project in South Africa will become its first operating mine following the conclusion of a mining contract covering bulk sampling activities and future full-scale mining. The necessary regulatory approvals have been applied for, and a drilling program is planned in 2019. Managing Director, James AH Campbell the company hopes to get production rolling during the first half of 2019.
After a four-year wait, Star Diamond Corp. - formerly called Shore Gold Inc. - has received the green light from the provincial government to build a diamond mine in Saskatchewan, Canada, bringing to an end what is believed to be the longest environmental approval process in province history. The Star-Orion Diamond Project was first proposed by Shore Gold Inc. in 1995.
CEO of Australia’s Lucapa Diamond Company, Stephen Wetherall, paid a visit to Antwerp recently, where The Diamond Loupe caught up with him. We encountered an optimistic CEO that is clearly excited about the future of Lucapa, and justifiably so. The growing miner operates, together with its partners in Angola, the highest-value and most promising alluvial diamond project in the world - the Lulo Diamond Project.
Brazil Minerals, a U.S. diversified company with projects in various minerals in Brazil, announced its extensive drilling campaign in one of its several mineral rights yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed. The project is located in the Jequitinhonha River Valley in northern Minas Gerais state in Brazil. Marc Fogassa, CEO of Brazil Minerals, stated, “Our identification of an initial diamond-rich zone within a gold mineralization area is a very good outcome.
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.
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.
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.
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.
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.
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 $362. The miner said that it met its two primary targets in 2017 – operational profitability and monthly processing volume of 25,000 tons, which unearthed 2,438 carats in the first half of the year, compared with 543 carats, a year earlier.
Lucara Diamond yesterday published the results of its Mineral Resource Update for its Karowe Mine in Botswana, which showed it would continue to yield a high grade of high quality diamonds for the remainder of its open pit life, and that underground mining was likely to continue until 2036. The remaining Indicated Mineral Resource for Karowe's AK06 kimberlite includes 7.9 million carats hosted in 57.85 million tons of ore at an average grade of 13.7 carats per hundred tons (cpht), with an average modelled diamond value of US$ 673 per carat.
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.
The Zimbabwean government has yielded to Chinese pressure and will restore Anjin Investment’s operating licence after finalisation of the new diamond policy, nearly three years after the entity was stopped from mining in Chiadzwa, writes the Zimbabwe Independent.
The Lerala Diamond Mine in central Botswana has been sold via an online auction for $8.1 million, a year after it was placed under provisional liquidation, according to a report from Reuters. The liquidator of the mine - which was held by Australian mining company Kimberley Diamonds and has been on judiciary management for the past year after it shut down due to a lack of funding and "weak market conditions" - put the entire operation up for sale in an online auction after its liquidators failed to secure viable offers.
ALROSA, jointly with Endiama, is planning to invest about $500-700 million in Luaxe mining project in Angola, accoring to Russian news agency TASS as reported by Rough&Polished. Last year, ALROSA increased its shareholding in Catoca mining to 41%, ensuring a stronger role in the development of the Luaxe pipe in close proximity to Catoca's infrastructure. Luaxe has a reported reserve of some 350-million carats in the Luele Kimberlite pipe. The operation is projected to have a life-of-mine of 29 years, cover a surface area of 100 ha and reach a depth of 400 m.
John Teeling is the executive chairman of Botswana Diamonds PLC, one of the most prolific diamond exploration and project development companies that holds exploration licences in Botswana and South Africa. With 40 years worth of resources experience, he is often called a ‘serial entrepreneur’, and is involved in a number of other AIM exploration companies. Notably, he was the founder of African Diamonds, which discovered the AK6 mine in Botswana, a venture that eventually became Lucara's famous Karowe Mine. The Lucara Diamond Corp.
The government of Zimbabwe has starting working on a new Diamond Policy that will unbundle the state-run Zimbabwe Consolidated Mining Company (ZCDC) to ensure more players are able to exploit the diamond resources, said President Emmerson Mnangagwa.
The highly controversial Israeli billionaire Beny Steinmetz, head of BSG Resources (BSGR), has apparently not allowed his various troubles to deter him from mining diamonds, as Bloomberg reports that the high-value Koidu mine in Sierra Leone, controlled by Steinmetz's family trust, has started mining again after halting production for almost a year. "It’s the latest step in a recovery for a business that’s spent much of the last few years in deep trouble," writes Thomas Biesheuvel.
Dominion Diamond Mines announced last week that it would once again be delaying expansion of its Ekati mine in the Northwest Territories, which had been schduled to commence this year, extending the Ekati mine's life to 2033. They said the work planned for this year has been put on hold while the company studies how the project's profitability can be increased, according to CBC News. Dominion did not say how this delay would affect the overall timeline for the Jay pipe, which was expected to begin production in 2021.
The liquidator of Kimberley Diamonds' Lerala Diamond Mine in Botswana, which has been on judiciary management for the past year after it shut down due to a lack of funding and "weak market conditions", will put the entire operation up for sale in an online auction after its liquidators failed to secure viable offers. It is a complete diamond mine, includuing the entire processing plant with its various crushers, 200tph conventional fines and course DMS plant, as well as it final integrated x-ray recovery house, hand recovery and grading unit.
Johannesburg Stock Exchange (JSE)-listed junior diamond miner Trans Hex has agreed to terms for the sale of its Baken and Bloeddrif mines, both of which are situated on the banks of the lower Orange River (LOR) in South Africa, to Lower Orange River Diamonds Proprietary Limited for $6 million (R72m) in cash, and its shareholders appreciated the gesture. Miningmx reports that speculation on the deal drove Trans Hex's share price up 52% ahead of yesterday’s announcement which came after the close of trading on the JSE.
London-based miner Gem Diamonds has announced that the government of Lesotho, represented by the Prime Minister and Minister of Mining, has confirmed their intention to renew the mining lease of the high-value Letšeng mine until 2034. The mining lease may be further extended if necessary in relation to any underground development of the mine thereafter. The full terms of the renewed mining lease are subject to a statutory negotiation process with the Lesotho Mining Board and, when agreed, will be contained in a new mining lease agreement.
Shareholders of the two Canadian mining companies have given their approval by an overwhelming majority for Mountain Province Diamonds to move forward with the acquisition Kennady Diamonds. The proposed deal, first announced in January 2018, will reunite mining operators that divorced some seven years ago. Mountain Province first announced spinning out its Kennady North project into a newly listed public company late in 2011.
Pangolin Diamonds Corp. has signed an option agreement to earn up to a 75% interest in the diamondiferous AK10 diamond project located in Botswana, situated just 4 km from the now famous AK06/Karowe mine. “I am extremely pleased with this transaction", said Dr. Leon Daniels, President and CEO of Pangolin.
De Beers and Mountain Province Diamonds - which together operate the Gahcho Kué mine in a joint venture - have signed a a non-binding Memorandum of Understanding (MoU) that considers incorporating properties owned by Kennady Diamonds into the Gahcho Kué mine.
Angola's new president João Lourenço, who took power in September and says he wants to shed Angola’s image as an opaque oil economy with rampant corruption, continues to make good on his promise to tackle family monopolies and make Angola more attractive to investors.
Zimbabwe appears ready to consider applications from companies mining platinum or diamonds to be exempt from a requirement that they be at least 51% owned by black citizens of the country, provided they can show they have a plan to achieve compliance, mines minister Winston Chitando said in an interview in Cape Town on Wednesday.