Diamond stocks Articles

De Beers invests $5 million to expand India's diamond grading unit

Dec. 6, 2016, 2:15 AM / Cecilia Jamasmie

De Beers Group, the world's top diamond producer by value, unveiled Tuesday its newly expanded diamond grading and testing centre in Surat, an Indian port city known for being a major hub of diamond cutting and polishing.De Beers also plans to launch in Surat its first ever education service, covering the entire diamond pipeline.The facility expansion, which required a $5-million spending, takes t...Read More

Cameroon involved in Central African 'conflict diamonds' trade - report

Dec. 2, 2016, 9:04 AM / Cecilia Jamasmie

Illicit trafficking of diamonds from the Central African Republic (CAR) into neighbouring Cameroon continues to partially finance an almost three-year conflict, a report published Friday shows.According to Partnership Africa Canada, Cameroon's poor controls, smuggling and corruption, explain the country's failure to implement the Kimberley Process - an international diamond certification scheme me...Read More

Gemfields postpones emerald auction over India's demonetization'

Dec. 1, 2016, 9:10 AM / Cecilia Jamasmie

Precious stones miner Gemfields (LON:GEM), the world's biggest coloured gems producer, has pushed an auction of emeralds from its Kagem mine in Zambia to next year as the bulk of its customers are from India, which is in the throes of what the company calls a "demonetization" drive.Move comes as most of Gemfields customers are from India, which is in the throes of what the company calls a "demonet...Read More

Canada's Diavik mine axes 51 jobs

Nov. 30, 2016, 6:28 AM / Cecilia Jamasmie

Diavik Diamond Mines, the company that runs the iconic operation of the same name in Canada's Northwest Territories, has axed 51 jobs due to what the firm called "challenging" market conditions, CBC News reported.Diavik mine, owned by Dominion Diamond (TSX, NYSE:DDC) with a 40% stake and Rio Tinto (ASX, LON:RIO) holding the remaining 60%, has been affected by mayor changes as of late.Early this mo...Read More

KP Chair holds discussions with Tokyo Diamond Exchange Club, Japan Gem Society and leading Japanese jewellery retailers

Nov. 28, 2016, 8:33 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: The UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, has travelled to Japan to meet with senior representatives from the country's diamond trade industry. The goal of the discussions was to determine how these organisations can focus on generating awareness and raising consumer confidence in the KP and the broader diamond industry.The KP Chair met with officials from the Toky...Read More

Lucapa granted new five-year exploration licence for iconic Angola mine

Nov. 28, 2016, 2:45 AM / Cecilia Jamasmie

Shares in Australian Lucapa Diamond (ASX:LOM) closed higher Monday after the company announced Angola had approved a new 5-year kimberlite exploration licence for the Lulo project.Lucapa's Lulo project has bored some massive gems, including the 404.2-carat white rock found early this year, considered the largest diamond ever found in Angola.The Africa-focused miner said the decision applies to the...Read More

CHART: Mining capex decline set to continue

Nov. 27, 2016, 11:00 PM / Frik Els

While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals seems only to be gaining momentum.The copper price added 7.7% last week, while nickel rose more than 6% and tin continued its good run. Both zinc and lead enjoyed double digit gains with the former reaching a near nine-yea...Read More

Northern Canadian diamond miner ready for new exploration

Nov. 25, 2016, 4:22 PM / Andrew Topf

Undeterred by transportation challenges at its northern Canadian diamond property, Peregrine Diamonds is about to open its wallet for the next phase of exploration.Vancouver-based Peregrine (TSX:PGD) wants to be the next diamond mine in Canada to churn out high-value gems, following in the footsteps of two diamond mines in the Canadian north that have opened recently: Gahcho Ku in the Northwest Te...Read More

Canada's Quebec launches online tool to help suppliers win up to $50bn in contracts

Nov. 18, 2016, 7:25 AM / Cecilia Jamasmie

The Canadian province of Quebec has partnered with one of the country's leading firms in risk management and contractor compliance to develop a platform that aims to help local suppliers bid for Plan Nord contracts.Plan Nord is a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years in hopes of attracting $50 billion in public and private...Read More

Miners increased spending positive, but far from reaching staff just yet

Nov. 18, 2016, 2:15 AM / EduMine

While mining companies have resumed projects that were placed in the back burner last year and upped capital spending, employees have yet to benefit from the surge in commodity prices.While most miners have managed to straighten balance sheets, they have not began preparing to deal with a new looming risk - their ability to access workers with the skills needed in an upswing.The issue is not only...Read More

KP Plenary reaches historic agreement on Permanent Secretariat and NGO Fund Proposals by UAE KP Chair

Nov. 17, 2016, 8:26 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: Ahmed Bin Sulayem, the Kimberley Process Chair (KP Chair), brought a close to a historic KP Plenary that took place in Dubai between November 13 and 17. Key participants in the global initiative voted to approve the KP Chair's ideas to establish a Permanent Secretariat and to set up a common Fund for NGOs. The event was attended by over 300 delegates from around the world including gov...Read More

CHART: Trump $500 billion will do very little for global mining

Nov. 17, 2016, 6:00 AM / Frik Els

During his campaign Donald Trump promised to push through a $500 billion spending program to build bridges, roads, railways, schools and hospitals early next year and the president elect has aspirations of $1 trillion in infrastructure build-out in the US over the next decade.The surge in industrial metals prices and steelmaking raw materials following the surprise victory of Trump has definitely...Read More

Lucara fetches $38.7 million in second exceptional diamond tender of 2016

Nov. 17, 2016, 2:44 AM / Lucara Diamond Corp.

Lucara Diamond Corp. (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) ("Lucara" or the "Company") is pleased to announce excellent results from its second Exceptional Stone Tender of 2016. This tender of Karowe diamonds consisted of 12 single stone lots. All 12 diamonds, totaling 1,098 carats, were sold for gross revenues of US $38.70 million (US $35,230 per carat).Highlights: 5 diamonds sold for...Read More

Less than shiny: De Beers recent sale the lowest this year

Nov. 15, 2016, 6:55 AM / Cecilia Jamasmie

Diamond giant De Beers, the world's top producer by value, saw its sales of rough gems fall in its latest offering, but said results were in line with expected seasonal demand patterns.The Anglo American's unit sold $470 million of diamonds in the ninth cycle, compared with $494 million fetched at its previous sale."Encouragingly, the ninth sales cycle of 2016 showed continued good demand for De B...Read More

Alrosa diamond sales drop in October, but outlook remains positive

Nov. 15, 2016, 6:20 AM / Cecilia Jamasmie

Russia's Alrosa (MCX:ALRS), the world's top diamond producer by output in carats, said Tuesday that sales of rough gems dropped slightly in October, when compared to the previous month, though polished diamond sales remained unchanged.Rough gems sales totalled $430.8 million in October, slightly less than the $435 million fetched in September, Alrosa said. Polished diamond sales came to $8.2 milli...Read More

New initiative aims to advance responsible sourcing of raw materials in technology supply chains

Nov. 15, 2016, 5:15 AM / Electronic Industry Citizenship Coalition

The Electronic Industry Citizenship Coalition (EICC) and the Conflict-Free Sourcing Initiative (CFSI) today announced the launch of the Responsible Raw Materials Initiative (RRMI) to address the most significant social and environmental impacts related to the extraction and processing of raw materials used in the global supply chains of technology companies in multiple industries.Years before the...Read More

UAE KP Chair encourages independent funding of NGOs and creation of UN Permanent Secretariat at Annual KP Plenary

Nov. 14, 2016, 9:24 AM / Kimberley Process Certification Scheme (KPCS)

His Excellency Abdullah Al Saleh, Undersecretary for Foreign Trade & Industry, UAE Ministry of EconomyDubai, UAE: His Excellency Abdullah Al Saleh, Undersecretary for Foreign Trade & Industry, UAE Ministry of Economy, and the UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, welcomed over 300 delegates, including Civil Society, to Dubai for the Kimberley Process Plenary Meetings (13-17 No...Read More

World Diamond Council praises industry progress ahead of the 2016 Kimberley Process Plenary Meeting in Dubai

Nov. 10, 2016, 8:18 AM / World Diamond Council

World Diamond Council (WDC) members representing every sector of the diamond trade, from producer to retail, will join together on Nov. 13 - 17 to promote dialogue in the Kimberley Process (KP), and discuss mechanisms for greater industry inclusion at the 2016 Kimberley Process Plenary Meeting in Dubai."The WDC reaffirms its commitment to assist all parties in their efforts to have a productive di...Read More

Dominion moves headquarters to Calgary in cost-cutting effort

Nov. 8, 2016, 6:26 AM / Cecilia Jamasmie

Canada's Dominion Diamond (TSX, NYSE: DDC) is packing up its Yellowknife headquarters and heading to Calgary, as part of a cost-cutting move that will leave about 100 unemployed, but that will save the firm $19 million a year.Operations at Ekati will continue uninterrupted, and development of the Jay deposit, about 25 km from the mine, will also be maintained.The diamond producer, which runs the E...Read More

Lucapa soars on record sales from Angola mine

Nov. 7, 2016, 2:26 AM / Cecilia Jamasmie

Shares in Australian Lucapa Diamond (ASX:LOM) jumped Monday after the company announced a record result from the latest sale of diamonds from the Lulo diamond project in Angola.The Africa-focused miner said it has fetched $8.3 million after selling 1,864 carats of rough diamonds, which worked out to be $4,452 per carat.The figures are the highest ever achieved for a sale of gems from the Angola mi...Read More