RAPAPORT... Alrosa will begin production next year on its new Zaryadeposit, estimated to contain over $1 billion in diamond reserves. The mine contains approximately 3.5 million carats, and willreplace production from the miner's Komsomolskaya pipe, which is nearing end ofmine life. "The open-pit mine construction is planned to be completedin 2019," Timofey Baishev, deputy head of production of t...Read More
(IDEX Online) - Mining preparation operations at the new diamond deposit Zarya of ALROSA in the Republic of Sakha (Yakutia), which began in June 2016, are entering the final stage, the miner said. Over the past two years, 10 million cubic meters of overburden have been removed from the open pit mine, and its depth reached 100 meters. Diamond mining, as planned, will begin next year. The depo...Read More
(IDEX Online) - Jewelers for Children will celebrate its first annual JFC Day on September 29, for supporters and potential new ones to celebrate the success of the industry's support for children in need and raise visibility and funds for the charity. JFC Day is the brain child of Steven Vardi, a JFC board member who helped develop the concept along with JFC's Marketing Committee. "We'll be ask...Read More
RAPAPORT... Zimbabwe's state diamond producer recorded a 44% increase inoutput in the first half of 2018 following investments in mining and processingcapacity. The Zimbabwe Consolidated Diamond Company (ZCDC) recovered1.6 million carats in the six months ending June 30, compared with 1.1 millioncarats a year ago, a spokesperson for the miner told Rapaport News lastweek. The company produced...Read More
RAPAPORT... Alrosa will begin production next year on its new Zaryadeposit, estimated to contain over $1 billion in diamond reserves. The mine contains approximately 3.5 million carats, and willreplace production from the miner's Komsomolskaya pipe, which is nearing end ofmine life. "The open-pit mine construction is planned to be completedin 2019," Timofey Baishev, deputy head of production of t...Read More
Multidisciplinary engineering service provider TDS Projects Construction has secured an integrated construction project, which has significantly boosted the company’s order book and the demand for construction services in the local mining sector.In June, TDS was awarded two distinct, but integrated projects at coal and heavy minerals mining company Exxaro’s Matla coal mine, in Kriel, M...Read More
Russian diamond mining group Alrosa’s Zarya diamond deposit in Sakha (Yakutia) is in its final stages before diamond mining will start next year.Since 2016, ten-million-cubic-metres of overburden were removed from the openpit mine, reaching a depth of 100 m. Drainage ditch construction, and installation and adjustment of the pumping unit at the mine will be completed this year.AdvertisementT...Read More
Anglo American's De Beers has agreed to buy Canada's Peregrine Diamonds (TSE:PGD), the company behind the Chidliak project in the Canadian territory of Nunavut, as the world's largest roughs producer by value needs to replace its closing mines in the country.The Cdn$107 million-deal ($81m) extends De Beer's footprint in Canada's frozen north beyond the Gahcho Ku?(C) joint-venture, which recently...Read More
While global miners invested almost $1 trillion in major projects over the last decade, almost one-third of that - $273 billion to be precise - was written off, research from Morgan Stanley shows.In a study carried out in conjunction with PricewaterhouseCoopers (PwC), the American investment bank found that the extent of the write-downs was almost as high as the dividends paid by the world's top...Read More
Slow trading,with dealers in summer vacation mode. Bargain-hunters asking for higherdiscounts during quiet period, but suppliers holding prices firm. Difficult toreplace goods after recent price hikes and with fewer RapSpec A2+ goods on themarket. US retail seasonally slow, but e-commerce strong as record Prime Daysales exceed Amazon's Cyber Monday and Black Friday. Asia growth continues withChow...Read More
Sentiment down dueto sluggish summer demand, depreciating rupee and rumors of furtherbankruptcies. Dealers also frustrated by slower turnover, as authorities withholdshipments following $440 million fraud involving customs officials. Fewer overseasbuyers in the market. 1 ct. and dossiers moving well. Rough demand stable, butmanufacturers careful not to build up excess inventory. RoundRead More
RAPAPORT... De Beers' Canada business has agreed to acquire explorationcompany Peregrine Diamonds, which owns the promising Chidliak resource, thecompanies said Thursday. De Beers will buy 100% of Peregrine for about $80.6 million(CAD 107 million) in cash, and expects to complete the deal by September. The current focuses of Peregrine's development program areChidliak's CH-6 and CH-7 projects, tw...Read More
RAPAPORT... Chow Tai Fook's sales grew strongly in the first fiscalquarter due to stronger consumer sentiment in Hong Kong and increased tourismto the municipality from mainland China. Retail sales jumped 21% in Hong Kong and Macau in the threemonths ending June 30, while same-store sales - at branches open for at leastyear - surged 26%, the jeweler reported last week. Mainland retail salesincreas...Read More
RAPAPORT... De Beers' sales volume and production grew sharply in thesecond quarter amid strong trading conditions, the miner's parent companyreported Thursday. Rough-diamond sales rose 69% to 10 million carats during thethree months ending June 30, Anglo American said. The increase from 5.9 millioncarats a year ago reflects resurgent demand, as well as the fact that De Beersheld three sights duri...Read More
RAPAPORT... The number of new jewelry businesses in the US jumped 87% inthe first half of the year, even as the industry continued to shrink overall. A total of 133 companies entered the sector in the sixmonths to June 30, compared with 71 in the same period last year, the JewelersBoard of Trade (JBT) reported Wednesday. Most of the new businesses wereretailers (108 versus 59 a year ago), while th...Read More
(IDEX Online) - De Beers Group is pleased to announce that its Canadian mining business, De Beers Canada, has entered into an agreement to acquire 100% of the outstanding securities of Peregrine Diamonds Ltd, the owner of the high quality Chidliak diamond resource located in Canada's Nunavut Territory, at a purchase price of C$0.24 per share, for a total cash consideration of approximately C$107 m...Read More
The Gahcho Kué diamond mine that Canadian miner Mountain Province owns in partnership with Anglo America’s De Beers has recovered 1.93-million carats at an average grade of 2.15 c/t in the second quarter of the year, setting a new quarterly record and delivering a 20% year-on-year production improvement.The mine, located in the Canadian tundra, achieved commercial production last year...Read More
(IDEX Online) - De Beers' rough diamond production increased by 3% to 9.0 million carats, reflecting production increases to meet stronger demand as well as the contribution from the ramp-up at Gahcho Ku?(C), the miner said. Production in the second quarter was 8.997 million carats compared with 8.742 million carats in the year-earlier period. Botswana (Debswana) production increased b...Read More
Diamond major De Beers announced on Thursday that it would buy Canadian miner Peregrine Diamonds – the owner of the Chidliak diamond resource in Nunavut Territory – for C$0.24 a share, or C$107-million, in cash.The Chidliak resource, 120 km north-east of Iqaluit on Baffin Island, hosts 74 kimberlite pipes, including the CH-6 and CH-7 pipes that are the current focus of Peregrine’...Read More
(IDEX Online) - The Natural Color Diamond Association has introduced its first educational video, "Natural Yellow Diamonds." The association chose yellow diamonds for its inaugural course because this category constitutes the largest opportunity in the colored diamond industry for growth in affordable jewelry. The video, which is appropriate for both consumers and members of the trade, discusses...Read More