RAPAPORT... BSG Resources, diamond tycoon Beny Steinmetz's mining company, has entered administration, meaningcontrol of the group has been given to practitioners responsible for tryingto rescue the business. Malcolm Cohen and William Callewaert of BDO arethe court-appointed joint administrators, the advisory firm said Tuesday. They aretasked with operating in the creditors' best interests, with a...Read More
(IDEX Online) - BSG Resources Ltd, a Guernsey-based holding company of Israeli diamond and mining tycoon Beny Steinmetz's international mining business, has been placed in administration. Being placed in administration means being taken under the management of a court appointed administrator whose main aim is to leverage the company's assets and business to repay creditors as quickly a...Read More
RAPAPORT... Alrosa's sales soared 35% to $541.9 million in February,strengthened by significant demand ahead of the Chinese holiday season. "In February, the core diamond markets were quite strong," Yury Okoemov, deputy CEO, said Wednesday. "The diamond-cutting sector continues [to replenish] its stock. Demand for diamond products was also backed up bygood jewelry sales in China on the eve of the...Read More
JOHANNESBURG (miningweekly.com) – Russian diamond major Alrosa on Wednesday announced its latest diamond sales results and also reported on geological prospecting developments, including the reorganisation of its exploration unit.The company, which produces the world’s most diamonds in terms of volume, said that it had sold $541.9-million worth of rough and polished diamonds in Februar...Read More
(IDEX Online) - Gem Diamonds Limited has recovered a 152-carat, top white color Type IIa diamond from the Let??eng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. The latest find (pictured above) is the sixth diamond of over 100 carats recovered at the mine so far this year, the company said. Read More
RAPAPORT PRESS RELEASE, March 7, 2018, LasVegas... The Rapaport Group has released a Chinese version of Rapaport Academy'spopular online course - Fundamentals of Diamond Trading. In response to increasing demand fromChinese diamond trading professionals looking to increase their skills andbetter understand the global industry, the course was released in SimplifiedChinese at the Hong Kong March Sho...Read More
JOHANNESBURG (miningweekly.com) – Junior miner Frontier Diamonds, which started trading on the ASX in January, has recovered the first diamonds from its Bellsbank kimberlite pipe exploration project, near its Sedibeng diamond mine in South Africa’s Northern Cape province.The diamonds were recovered from a sample that was treated as part of the hot commissioning of a tailings treatment...Read More
RAPAPORT... Sales of jewelry, watches and other luxury items in HongKong rose in January, despite the Chinese New Year falling out a month laterthan last year, according to the municipality's data authority. January retail sales for the category increased 10% year onyear to $1.03 billion (HKD 8.07 billion), Hong Kong's Census and StatisticsDepartment reported last week. Total retail sales for all...Read More
RAPAPORT PRESS RELEASE, March 7, 2018, New York... Diamond market sentiment was positive in February, with steady dealer trading, though allegations of a major bank fraud involving two Indian jewelry companies dampened the mood. Polished prices firmed, following a better-than-expected US holiday season and renewed optimism in China. Traders focused on the Hong Kong International Diamond, Gem &...Read More
JOHANNESBURG (miningweekly.com) – Global diamond producer Gem Diamonds has recovered a 152 ct, top white colour Type IIa diamond from its 70%-owned Letšeng mine, in Lesotho.This is the sixth diamond larger than 100 ct recovered at the mine this year.AdvertisementThe Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, having produced more...Read More
TORONTO (miningweekly.com) – The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.Considered the largest mining industry event in the world, thi...Read More
(IDEX Online) - CARAT+ has welcomed the Antwerp World Diamond Centre (AWDC) as its Main Partner for the 2018 edition of the show. "United by a shared commitment to Antwerp as the 'Diamond Capital of the World', AWDC will host a series of unique events before and during CARAT+ 2018 to highlight the city's world-renowned diamond heritage and expertise," Carat+ and the AWDC said in a statement...Read More
RAPAPORT... Alrosa's sales soared 35% to $541.9 million in February,strengthened by significant demand ahead of the Chinese holiday season. "In February, the core diamond markets were quite strong," Yury Okoemov, deputy CEO, said Wednesday. "The diamond-cutting sector continues [to replenish] its stock. Demand for diamond products was also backed up bygood jewelry sales in China on the eve of the...Read More
RAPAPORT... Sales of jewelry, watches and other luxury items in HongKong rose in January, despite the Chinese New Year falling out a month laterthan last year, according to the municipality's data authority. January retail sales for the category increased 10% year onyear to $1.03 billion (HKD 8.07 billion), Hong Kong's Census and StatisticsDepartment reported last week. Total retail sales for all...Read More
"The sale of The World's Most Expensive Dinner by World of Diamonds Group to V Diamonds has been canceled by a mutual decision of the companies, and World of Diamonds Group remains the sole owner of the ring and the $2 Million Dinner experience. The token sale planned by V Diamonds is canceled, and all the pre-subscriptions to the token sale will be refunded back to the participants," reads a medi...Read More
Representatives from the community-based organization Marange Development Trust appeared before Zimbabwe's Parliament to denounce that people in the Marange diamond fields are experiencing worse living conditions now that the Zimbabwe Consolidated Mining Company is in charge of the area.According to Chairman Malvern Mudiwa, the different kinds of abuses that villagers have been enduring for decade...Read More
ALROSA Group, the largest diamond miner in the world, reviewed the results of geological prospecting in 2017. Total diamond reserves, taking into account the explored deposits under the National Reserves Committee standards, increased by 57.8 million carats during the year (excluding the depletion of reserves). As of January 1, 2018, it was 1,182 million carats. In 2017, ALROSA spent a total of al...Read More
6 March 2018 - De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the second sales cycle of 2018.Bruce Cleaver, CEO, De Beers Group, said: "The second sales cycle of the year saw the continuation of good rough diamond demand. This was in line with expectations, following strong retail sales of diamond jewellery during the US holiday se...Read More
Coming off of 2017, a year in which global diamond supply by volume increased by 11.7% year-over-year, supply is forecast to contract by 3.4% to 147M carats in 2018 (see appendix at bottom for itemized analysis by mine).Out of the world's top three diamond miners by volume, only De Beers is expected to increase production this year, while diamond output at Russia's ALROSA (MICEX: ALRS) and diver...Read More
RAPAPORT... Rough diamond trading was robust in February, with De Beers notching $555 million in sales during the month. Prices remained strong, fueling concern among sightholders that their profit margins were tightening."We had a good few months, and polished prices have increased. That has encouraged the mining companies to raise their rough prices," a Mumbai-based supplier said at last we...Read More