Diamond stocks Articles

Belgium Polished Diamond Exports Decline

Jul 09, 2017 / Rapaport News

RAPAPORT... Belgium's polished-diamond trading slumped in June amidfewer shipments to Hong Kong, according to data the Antwerp World DiamondCentre (AWDC) released last week.Polished exports fell 12% year on year to $1 billion during the month, withimports also down 12% to $1.08 billion. Net polished exports stood at negative$73.3 million versus negative $84.3 million a year ago as Belgium exporte...Read More

Ekati Extension Gets Crucial Water Permit

Jul 09, 2017 / Rapaport News

RAPAPORT... Dominion Diamond Corporation has received government approvalto use water for its Jay project in Canada's Northwest Territories - animportant regulatory step for the miner.Robert McLeod, the region's minister of environment andnatural resources, signed off on the type-A water license for Dominion's Ekatimine, Dominion said Thursday. The approval includes the Jay extension, ahigh-grade...Read More

Bank Told to Restore Exelco Assets: Bloomberg

Jul 09, 2017 / Rapaport News

RAPAPORT... A court has ordered KBC Group to return the assets it seizedfrom Antwerp-based diamond firm Exelco within 24 hours, Bloomberg reportedThursday.The Belgian bank took hold of assets belonging to Exelco onJune 22, according to a separate report by the news service last week. The bankhad bailiffs enter the diamond manufacturer's offices, as well as offices of DeBeers and ABN Amro, the repo...Read More

Belgian Court Orders KBC Group NV Bank to Return Seized Assets to Exelco NV

July 09, 17 / Albert Robinson

(IDEX Online) - A Belgian court has ordered KBC Group NV bank to return assets it seized last week from Exelco NV as a way of recovering unpaid loans. Exelco NV was in line to repay loans to KBC by 2020 as planned, so the lender's early seizure of assets was unnecessary, an Antwerp court ruled, according to a Bloomberg News report. KBC is seeking to recover 26 million euros ($29 million) from...Read More

DDC Australia President Baron Addresses LA Bourse Members

July 09, 17 / Albert Robinson

(IDEX Online) - Diamond Dealers Club of Australia President Rami Baron was a guest speaker at the Diamond Club West Coast (DCWC) where he spoke to an audience of young diamantaires and other bourse members. Baron spoke about the need to share information, as well as changes taking place in the industry. He also spoke about his goal of bringing about the involvement of the younger generation in t...Read More

Ratings Agency S&P Upgrades ALROSA to BB+, Outlook Stable

July 09, 17 / Staff Reporter

(IDEX Online) - Russian diamond mining giant ALROSA, said that Standard & Poors has upgraded its long-term corporate credit rating to BB+, outlook stable. "The rating action reflects the fact that ALROSA demonstrated strong operational and financial performance over 2016 and the first half of 2017," ALROSA said. "The stable outlook reflects S&P's view that ALROSA's very low leverage,...Read More

Diamcor Sells Fewer Goods in Quarter, Revenues Down Only Slightly

July 09, 17 / Staff Reporter

(IDEX Online) - Diamcor Mining Inc sold 2,153.13 carats of rough diamonds for $338,380, resulting in an average price of $157.16 per carat in its third and final tender and sale for the quarter ended last month. The rough diamonds recovered, tendered, and sold during the period were from the processing of material being completed as part of the testing, commissioning, and calibration work underw...Read More

NWT Minister Approves Ekati Water License, Includes Jay Project

July 08, 17 / Albert Robinson

(IDEX Online) - Dominion Diamond Corporation said that the Minister of Environment and Natural Resources, Government of the Northwest Territories, Robert C. McLeod, has approved the Type A Water License for the Ekati Diamond Mine, including the Jay project. "Receipt of the amended Water License is a significant milestone for the Jay project," said Jim Gowans, Chairman of the Board of Directors...Read More

WDC Reaffirms Commitment to CAR in Preventing Trade of Conflict Stones

July 08, 17 / Albert Robinson

(IDEX Online) - The World Diamond Council (WDC) has reaffirmed its commitment to the Central African Republic (CAR), supporting its efforts in preventing trading in conflict diamonds originating from CAR and stressing the collaboration of intergovernmental organizations and civil society groups to monitor the situation on the ground. A recent Global Witness report on diamond trading in CAR simi...Read More

Private capital says no to mining

Jul. 7, 2017, 4:37 PM / Frik Els

Source: Preqin Q2 2017 Fundraising UpdateAccording to a new report by private capital tracker Preqin, overall fundraising for natural resources investment, slowed dramatically in the second quarter of 2017 with 12 unlisted funds securing $5 billion in investor capital.Q1 2017 saw 21 funds raise a total of $27 billion, and Q2 represents a significant pullback from that level of activity according t...Read More

Diamond firm's seized assets ordered to be returned by court

7th July 2017 / Bloomberg     

LONDON - A Belgian court ordered lender KBC Group to return seized assets from one of the diamond industry's most storied names within 24 hours, a court ruling shows.Exelco was on track to repay loans to KBC by 2020 as planned, so the lender's early seizure of assets was unnecessary, the Antwerp court ruled on Thursday. A spokesman for KBC declined to comment. Exelco also declined to comment.Adver...Read More

Argyle diamond coin trilogy sold within a month

Jul. 6, 2017, 8:48 AM / Rio Tinto

Rio Tinto is delighted to announce the sale of The Australian Trilogy, an AUD$1.8 million one-of-a-kind coin collection featuring a pink, purple pink and violet diamond from Rio Tinto's Argyle Diamond Mine in the east Kimberley region of Western Australia.Released by The Perth Mint, The Australian Trilogy was sold to an anonymous collector from Asia within a month of its unveiling by the Premier o...Read More

Another huge diamond unearthed in Lesotho mine

Jul. 6, 2017, 3:15 AM / Cecilia Jamasmie

Africa-focused Gem Diamonds (LON:GEMD) unveiled Thursday a 126-carat rock unearthed at its flagship Leteng mine in Lesotho, the latest in a string of major discoveries at the operation this year.The finding of the high quality D colour Type IIa diamond comes barely a month after the company discovered two massive diamonds at the same mine - a 151.52-carat Type I yellow rock and a high quality 104...Read More

Rapaport Weekly Market Comment

Jul 06, 2017 / Rapaport News

Diamond market seasonally quiet as US dealerstake vacation. Cutters under pressure as rough prices firm in 1H, whilepolished prices continue to soften. June RAPI for 1 ct. -0.8%, 0.30 ct. -1.5%,0.50 ct. -3%, 3 ct. -1%. Polished inventory rising, with dealers expecting a slowsummer period. Indian government reform favoring large jewelers as new GST taxsystem takes effect. Titan Company projects 50%...Read More

Argyle Diamond Coins Sell Within a Month

Jul 06, 2017 / Rapaport News

RAPAPORT... Rio Tinto sold a set of diamond coins to an Asian buyer for $1.4million (AUD 1.8 million) within a month of the collection's unveiling, theminer announced Thursday.The anonymous collector snapped up the Australian Trilogy,which features three coins, each with a colored diamond - one pink, onepurple-pink and one violet - from Rio Tinto's Argyle mine in Western Australia.The Perth Mint c...Read More

Leteng Yields 126ct. Rough Diamond

Jul 06, 2017 / Rapaport News

RAPAPORT... Gem Diamonds has recovered a "high-quality" rough diamond weighing 126 carats at its Leteng mine, following a switch to a more lucrative section of the project in Lesotho, the company reported Thursday.The D-color, type-IIa stone is the latest in a string of large discoveries at the mine, which is known for its high-value rough production. Last month, the company found a 104.73-carat,...Read More

Bank Seizes Exelco's Assets: Bloomberg

Jul 06, 2017 / Rapaport News

RAPAPORT... Belgian bank KBC Group has seized assets of Antwerp diamond firmExelco to recover unpaid loans, according to a report by Bloomberg this week.In an effort to recoup $29 million (EUR 26 million) fromExelco, the lender had bailiffs search the diamond manufacturer's Antwerpoffices, as well as premises belonging to De Beers and ABN Amro, where Exelco mighthave additional assets, Bloomberg c...Read More

Gem Diamonds Recovers High-Quality 126-Ct Diamond From Letseng

July 06, 17 / Albert Robinson

(IDEX Online) - Gem Diamonds Limited has recovered a high-quality 126-carat, D color, Type IIa diamond from the Leteng mine in Lesotho. The announcement follows the news of the recovery of two high-quality diamonds last month. They were a 104.73-carat diamond and a 151.52-carat yellow diamond from Leteng, which Gem Diamonds says is the highest dollar per carat diamond mine in the world. Read More

Rio Tinto Sells Argyle Diamond Coin Trilogy in Just One Month

July 06, 17 / Albert Robinson

(IDEX Online) - Rio Tinto has sold The Australian Trilogy, an AUD$1.8 million one-of-a-kind coin collection featuring a pink, purple pink and violet diamond from Rio Tinto's Argyle Diamond Mine in the east Kimberley region of Western Australia. Released by The Perth Mint, The Australian Trilogy was sold to an anonymous collector from Asia within a month of its unveiling by the Premier of Western...Read More

Gem Diamonds recovers 126 ct diamond from Leteng

6th July 2017 / Natasha Odendaal     

JOHANNESBURG (miningweekly.com) - LSE-listed Gem Diamonds on Thursday unveiled its latest recovery from its Leteng mine, in Lesotho - a high-quality 126 ct, D-colour Type IIa diamond.This followed the recovery of a high-quality 104.73 ct D-colour Type IIa diamond and a 151.52 ct Type I yellow diamond in June, an exceptional 80.58 ct D-colour Type IIa diamond in May, as well as the 98.42 ct and 114...Read More