Australia's Lucapa Diamond (ASX:LOM) said Thursday production at its 40%-owned prolific Lulo project, in Angola, rose 20% during the June quarter.Production at the mine, which has yielded massive diamonds this year, reached 5,058 carats during the three months to June, up from the 4,203 carats in the previous corresponding period, the company said.The total weight of special stones dug up by Luca...Read More
World's second largest miner Rio Tinto (ASX, LON:RIO) said its recent decision to consolidate the sales and marketing teams in London and other European countries into one located in Frankfurt, Germany, had less to do with Brexit than with "synergies."In an interview with Australian Financial Review (subs. needed), chief executive Jean-S?(C)bastien Jacques said the plan was part of a wider reorga...Read More
South African mines that are on care and maintenance are bad for the economy and the issue is being raised with the Minerals Council, Mineral Resources Minister Gwede Mantashe said.The Department of Minerals and Energy has been to 11 mining areas to obtain feedback on the mining charter, Mantashe said at the opening of Sasol Ltd.'s Shondoni Colliery in Secunda in Mpumalanga province.The government...Read More
Petra Diamonds (LON:PDL) climbed on Thursday after the miner said it had sold its stake in the Kimberley Ekapa Mining joint venture to its namesake partner, Ekapa Mining, for about 300 million rand ($22 million).London-listed shares in the South African diamond producer, which have more than halved in the last two years, jumped 3.64% to 55.45 pence by 1:42 PM local time.Sale will allow Petra to f...Read More
Diamond market slows as US wholesalers take vacation. Positive sentimentcontinues after polished prices strengthen in second quarter. 1 ct. RAPI +0.8%in June. Manufacturers upholding discounts as they defend high rough prices. Depreciationof currencies in China and India reducing budgets of local dealers and causingshift in demand to lower qualities. Diamantaires aligning their inventory withretai...Read More
Sentiment weaker amid bankruptcy rumors. Localbuyers cautious due to firm polished prices and recent rupee depreciationagainst the dollar (-2.4% in June to $1 = INR 68.80). Fewer foreign buyers inMumbai, owing to US summer vacation. Good demand for 0.30 to 3 ct., G-J, VS-SI,RapSpec A3+ diamonds. Manufacturing steady after $575 million De Beers Junesight. RoundRead More
RAPAPORT... Petra Diamonds will offload its majority stake in theKimberley mine, claiming the deal will ensure a sustainable future for theproject and help the company focus on its core assets. Ekapa Mining has agreed to buy Petra's 76% interest in the SouthAfrica deposit for $22 million (ZAR 300 million), Petra said Thursday. Thecompanies are currently in a joint venture incorporating the Kimberl...Read More
RAPAPORT... As the glitterati gathered for a swank cocktail party on theAvenue des Champs-Elys?(C)es to mark Paris Fashion Week, Penelope Cruz (pictured, right) was busyposing for the cameras alongside Nadja Swarovski (left). The Spanish model and moviestar was attending the "Atelier Swarovski: Cocktail of the New PenelopeCruz Fine Jewelry Collection" event topromote her latest money-making v...Read More
RAPAPORT... Lucapa Diamond Company's sales from its Lulo mine rose 6%year on year to $5 million in the second quarter, it said Thursday. The average price of rough diamonds from the Angola assetjumped 56% to $1,479 per carat for the three months ending June 30. Productionincreased 20% to 5,058 carats, including 61 stones weighing more than 10.8carats. Sales rose 3% year on year to $15.9 million fo...Read More
RAPAPORT... Birks Group's profit more than doubled in the past fiscalyear after the Canadian retailer sold subsidiary Mayors Jewelers. Profit grew to $11.7 million for the 12 months ending March31 from $4.9 million a year ago, the jeweler reported Tuesday. The company offloadedMayors to UK-based Aurum Holdings for $106.8 million in October, boosting its profit figure by $29.9million. Excluding tha...Read More
RAPAPORT... Titan Company reported lower-than-expected jewelry sales inthe first fiscal quarter due to a decline in consumer demand for gold. "Weakness in the consumer sentiment has had an impact on oursales, also leading to recording of sales below our internal targets," theretailer said Wednesday, referring to the three months ending June 30. While purchases during the Akshaya Tritiya festival...Read More
(IDEX Online) - IJL trends editor and jewelry expert, Paola De Luca, will be outlining six key jewelry trend themes for Spring-Summer 2019 at International Jewellery London (IJL), the UK's leading trade event for the international jewelry industry. Her vision includes designs rooted in urban lifestyles, the renaissance of pearls, dark romantic influences, and a blending of Art Deco and 1960s Op Ar...Read More
RAPAPORT... Alrosa sold $17 million worth of rough at a large-stoneauction in Vladivostok last month, the Russian miner said Wednesday. The 121 diamonds - each over 10.8 carats - weighed acombined 2,000 carats, and fetched an average price of $8,500 per carat. The stonessold for more than one and a half times their original asking price, Alrosanoted. Companies from Belgium, China, Hong Kong, India...Read More
Petra Diamonds’ Cullinan mine hopes to achieve further improvements in safety, mining efficiencies and productivity, following the implementation of BME’s AXXIS centralised blasting system across its underground operation.The system was officially launched last week.AdvertisementThe AXXIS system, installed at the Cullinan mine in December last year, was designed and developed by BME in...Read More
(IDEX Online) - Sierra Leone's Ministry of Mines and Mineral Resources (MMMR) and the National Minerals Agency (NMA) reported that a 144.12 carat diamond was brought to the Precious Minerals Trading Department of the NMA for valuation and certification. Consistent with International best practice for diamond valuation under the Kimberley Process Certification Scheme, the NMA conducted a tripa...Read More
(IDEX Online) - ALROSA sold 121 gem-quality special size rough diamonds (weighing over 10.8 carats) with a total weight of 2,000 carats at an international auction in Vladivostok last month for $17 million. Companies from Belgium, China, Hong Kong, India, Israel, Russia, the United Arab Emirates and the United States participated in the auction. "The results of the last auction once again confirm...Read More
LSE-listed Petra Diamonds and its black economic empowerment partners plan to sell their 75.9% interest in the Kimberley Epaka Mining (KEM) joint venture (JV) to JV partner Ekapa Mining for about R300-million.The KEM JV incorporates the Kimberley Underground mine, extensive tailings retreatment programmes and the high-volume Central Treatment Plant, near Kimberley, South Africa.AdvertisementPetra...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has reported a 20% increase in production at its Lulo project, in Angola during the June quarter.The mine produced 5 058 ct of diamonds during the three months to June, up from the 4 203 ct produced in the previous corresponding period, with the total weight of special stones increasing by 18%, to 1 412 ct.AdvertisementThe numbe...Read More
4 July 2018 - ALROSA, the world's largest diamond mining company, has sold special size rough diamonds (weighing over 10.8 carats) at an international auction in Vladivostok, which was held on June 18-29, 2018.The company received a total revenue of $17 million from the sale of 121 gem-quality diamonds with a total weight of 2,000 carats.Companies from Belgium, China, Hong Kong, India, Israel,...Read More
3 July 2018 - Rio Tinto's Australian Diamonds program has launched its latest campaign in India highlighting a new range of affordable bridal and fashion jewellery from the company's Argyle diamond mine in Australia.Mithali Raj, captain of the Indian women's cricket team is the official ambassador for the new campaign, helping promote the popularity of diamonds in fashion and bridal jewellery, p...Read More