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.
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.
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.
Laurelton Diamonds, a wholly owned subsidiary of Tiffany & Co. and supplier to the famous jeweler, will be holding tenders of rough as well as polished goods in Antwerp during the month of January. The tender of rough and sawn goods gets underway on Tuesday, January 8 at the Antwerp Diamond Tender Facility located in the Antwerp World Diamond Centre building, Belgium, and will continue until Thursday, January 17. The tender will include a selection of white and Cape Rough parcels in sizes from +5cts to -7 in regular and high quality assortments in Cts and Grs.
Firestone Diamond has announced the recovery of a 46-carat white, makeable diamond from its Liqhobong Mine in Lesotho. The stone was recovered undamaged and will go on sale at the next tender which is scheduled to take place in Antwerp at the end of January 2019. The miner's sold a similar stone in Antwerp, a 67.6-carat white makeable for $900,000.
The rough diamond trade in Antwerp during the month of November was marked by a resurgence of imports and exports of lower-priced rough after three sluggish months concerning the volumes of goods traded, while the polished trade experienced a general slowdown.
The Antwerp World Diamond Centre (AWDC) this week traveled to Guangzhou, China, for a networking blitz/conference tour on the Mainland, jointly organized with the Guangzhou Diamond Exchange. Mainland China presents a massive new opportunity for growth beyond the traditional markets of Hong Kong and Shanghai, so the AWDC set off with a group of diamond traders to meet up with a delegation of Chinese jewelry manufacturers looking for polished diamond suppliers in Antwerp.
The EU Plenary, which brings together the three pillars of the KP and its many stakeholders, was marked as a unique opportunity to advance the ambitious reform agenda set in 2017. Under the leadership of the EU, the KP discussed an agenda with three priorities: a deepening of the KP, including the reinforcement of the system of controls and the transformation of KP recommendations into minimum requirements; an expansion of the KP by broadening the definition of conflict diamonds; and professionalization of the KP by, among others, the establishment of a permanent KP secretariat.
Canadian miner Mountain Province Diamonds has sold US$17.7 million (CDN$23.3 million) from 245,751 carats at an average realized value of US$72 per carat at its ninth rough diamond which closed on November 14, 2018. The total proceeds from the sale were the lowest of the year thus far, but the average price per carat was the highest since the $85 per carat earned at the company's fifth sale of the year in June.
A diamond jewelry manufacturer from Antwerp, Giovanni Daems, is the first to develop a new, patented technology for a fully-automated diamond setting machine, which it unveiled this week at the China International Import Expo in Shanghai.
The Antwerp diamond trade in October booked value gains across all categories - particularly for polished-diamond exports and imports - with the exception of rough-diamond imports, which followed the recent decline in production and sales from the diamond miners.
Lucapa Diamond Company, which only two weeks ago commenced its commissioning of the 1.1Mtpa (million ton per annum) treatment plant at the high-quality Mothae kimberlite open-pit diamond mine in Lesotho, will be holding its first ever tender of Mothae diamonds in Antwerp, starting November 12. The Mothae treatment plant, which incorporates two XRT diamond recovery circuits, will be ramped up to its nameplate capacity throughout the December quarter.
The Antwerp World Diamond Centre today welcomed the President of Sierra Leone, Julius Maada Bio. The presidential delegation’s visit emphasizes the importance of trade relations between Sierra Leone and the Antwerp diamond industry, and falls within the framework of President Bio's efforts to take his country in a "new direction", which includes a strong focus on revising key legislation pertaining to the mining sector to ensure a win-win situation for the government, mining companies and local communities.
The GIA has announced that Chinese retailer LAELIM Jewelry and Belgian diamond manufacturer IGC Group will pilot GIA’s M2M (Mine to Market) program, which allows for complete transparency and traceability of diamonds along the value chain, writes GIA in a press release. This is one of the first instances where a manufacturer and retailer implemented the M2M program in partnership, and LAELIM is the first retailer in China to participate.
The third edition of CARAT+, a diamond-centred event in Antwerp scheduled for February 10-12 2019, has been postponed due to a lack of commitment to participate on the part of exhibitors and visitors, the organizers announced today. Due to the lack on confirmed participants with the event being less than four months away, the organizer "concluded that it would be difficult to achieve the high-quality standards we impose on ourselves while meeting the expectations of our visitors and exhibitors for an event like CARAT+."
Canadian diamond miner Stornoway sold 184,620 carats in two tender sales for gross proceeds of $24.7 million at an average price of US$103 per carat (C$134 per carat) as price weakness returned to smaller and lower quality diamonds, a decline of 7% compared to the second quarter. Prices in the larger and higher quality items have remained firm. By way of comparison, the miner sold 201,283 carats at two tenders in Q2 for $28.6 million, at an average price of US$109 per carat.
The polished-diamond trade in Antwerp during September again witnessed a surging average price per carat, particularly for imports (+22%), however, the trading center remained quiet after the traditionally slow summer holiday, as a result of which the volume of goods traded declined notably. Some have attributed the September slowdown to the Jewish holiday period, while others tell us that Indian companies are still hesitant to acquire smaller goods, with many having already purchased what they need for the upcoming Diwali holidays.
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.
Diamond Fields Resources (DFR) has confirmed, via its subsidiary Nutam Operations (Pty) Ltd, that the mining vessel "Ya Toivo" is scheduled to enter Namibian waters during the first week of November 2018. Once in position, the m/v Ya Toivo will commence mining operations on the ML111 license area, which is held by DFR through its Namibian subsidiary Diamond Fields (Namibia) (Pty) Ltd.
Rio Tinto and Dominion Diamond Mines have revealed three of the finest large rough diamonds from their Diavik diamond mine in Canada, which will be showcased in Antwerp and Israel before being tendered to diamond specialists from around the world. The three rough diamonds, collectively named “The Diavik Stars of the Arctic”, will highlight a rough diamond tender of 'specials' (diamonds weighing more than 10.8 carats) before bids close on October 25.
Ari Epstein, CEO of the Antwerp World Diamond Centre (AWDC), along with several representatives from the Antwerp diamond industry today met King Letsie III of Lesotho in Brussels. Lesotho, a mountainous country fully surrounded by South Africa and numbering only two million inhabitants, is the world’s seventh most important diamond-producing country in terms of value. Lesotho’s entire diamond production, worth $342 million in 2017, is traded on the Antwerp market.
Russian diamond mining company Arkhangelskgeoldobycha (the licence holder for the Grib diamond pipe in the Arkhangelsk Region), which recently changed its name to AGD Diamonds, has consolidated a 100% stake in Grib Diamonds. Grib Diamonds is the Antwerp diamond trading company responsible for marketing rough diamonds produced at the Vladimir Grib Diamond Field through auctions held on its web-based platform. The move is intended to establish a fully-fledged diamond mining company, including exploration, production and sales.
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.
Fosun International, through its holding company Yuyuan Shares, has announced that it plans to invest US$108.8 million to acquire an 80% stake in the diamond, gemstones and jewelry certification and appraisal lab, the International Gemological Institute (IGI). Headquartered in Antwerp, Belgium, IGI is a world-renowned gemological training and diamond appraisal organization, known to be the world's largest independent gem certification and appraisal institute for diamonds, colored gemstones, and jewelry.
The polished-diamond trade in Antwerp rode a higher average price per carat, particularly for exports (+6%), to solid value gains during the traditionally slow month of August, when the industry takes a three-week hiatus. The volume of rough goods traded during the month declined notably without having much impact on the overall value of those goods, as the average price per carat for rough goods is also outpacing that of the year prior by approximately 6%.
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.
Last week, the Antwerp World Diamond Centre (AWDC) and the University of Antwerp hosted an “Innovation and Diamonds” conference at the Antwerpsche Diamantkring - the only rough diamond bourse in the world - featuring internationally-recognized experts from across the spectrum of the diamond trade, including alternative financing, the impact of digital on the luxury segment, the feasibility of small-scale ethical mining, as well as the earthquake and aftershocks of De Beers’ foray into lab-grown diamonds: LightBox.
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.
According to Elizabeth Burden and Thomas Biesheuvel for Bloomberg, the Union Bank of India (UBI) is planning to pull out of the global diamond hub of Antwerp. The bank has given notice that it will close its branch in the Belgian city within a year, according to Chief Executive Officer Rajkiran Rai Gundyadka. "The viability of the branch isn’t established,” he said.
Koin International Tenders has announced the addition of the KEM production (Kimberley Ekapa Minerals, South Africa) to its rough tenders. Previously offered only in South Africa, this sought-after production will now be offered at Koin tenders in Antwerp. An initial sale of over 66,000cts of 3Gr down and 10.80+ Single Stones will be on offer. Viewings for 10.80+ will be from August 20 to September 5, overlapping with Run of Mine production from the 28 August to 7 September.
Rising prices of rough and polished diamonds led to substantial value gains for Antwerp’s diamond trade in July, which surged during the weeks preceding its traditional August recess, according to data from the Antwerp World Diamond Centre (AWDC). Rough diamond imports surged by 23% and exports by 18% compared to the same month a year ago, while polished imports gained 28% in value and exports gained more than 8% compared to the month of July 2017.
Industry consultant Ben Janowski takes an in-depth look at the developments that led De Beers to enter into the laboratory-grown diamond jewelry sector, and what Lightbox may mean long-term for the mining giant. Published in full courtesy of Ben Janowski, who will be lecturing at the Antwerp Summer University program, "From Mine to Finger 2018: A deep dive into the world of diamonds."*
A full house at the Antwerp Diamond Bourse, including stakeholders from across the spectrum of the diamond industry, greeted De Beers Group representatives Paul Rowley and Nimesh Patel as they explained the company's foray into the synthetic diamond jewelry market and reinforced its commitment to the natural diamond industry.
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.
Antwerp's polished diamond trade in June rode rising prices to another month of gains, according to data from the Antwerp World Diamond Centre (AWDC), as the Belgian polished trade reasserted its modest upward trend in 2018. The value of polished exports increased 4% year-over-year to $1.04 billion despite 6 percent decline in the volume of goods traded, backed by a 10% climb in average price per carat, to $2,395 from $2,183. The average price did fall short of a May high of $2,688 per carat, likely skewed by the value of goods flowing to Las Vegas for the JCK trade show.
Dominion Diamond Mines will hold an online auction of its latest production of fancy colour and +10.8 carat rough diamonds, in co-operation with I. Hennig Tenders, on Thursday, 19 July 2018. Dominion says the most recent production from the Misery kimberlite pipe, of the Ekati Diamond Mine in the Northwest Territories of Canada, has delivered a quantity of exceptional yellow fancy colour stones, which will be presented for sale at the upcoming auction.
From June 19 to 22, Antwerp was the host city for the Kimberley Process (KP) Intersessional meeting. This year, the European Union occupied the KP Chair, under the lead of Hilde Hardeman (pictured). The global diamond community - consisting of diamond-producing and trading countries, the diamond industry and civil society - gathered together to assess the current state of affairs and look forward to the future of the KP.
The Kimberley Process Intersessional being held in Antwerp got into full swing this morning, and while the proceedings were calm and orderly - not always a given when the 54 participants (representing 81 countries) get together for their annual meetings - there were some noteworthy highlights.
The Kimberley Process Intersessional meeting kicked off today in Antwerp, as the diamond capital welcomed the international diamond community for the prestigious four-day conference. A total of 54 participants representing 81 countries (the European Union and its 28 Member States count as a single participant) are attending the KP Intersessional meeting, representing over 99% of the global trade in rough diamonds.