(IDEX Online) - Mountain Province Diamonds Inc. and Kennady Diamonds have announced they have received final approval of the Ontario Superior Court of Justice for their proposed business combination. The miners said they expect the closing of the Arrangement to take place on April 13, subject to the satisfaction or waiver of all conditions precedent. Under the terms of the Arrangeme...Read More
(IDEX Online) - CARAT+ will welcome exhibitors, visitors and CARAT+ Club members to its second annual CARAT+ Night evening event on May 6. British actress and model, Elizabeth Hurley, will be guest of honor at CARAT+ Night. She will formally open the event before meeting exhibitors and discovering the loose diamonds, diamond jewelry and colored gemstones on display. The CARAT+ Night...Read More
Former Zimbabwe President Robert Mugabe is to be summoned by a committee of lawmakers in Zimbabwe to testify at a parliament probe into lost revenue from diamond mining.The lawmakers plan to question Mugabe over his 2016 claim that the country had lost $15-billion (12.13-billion euros) in income from diamonds due to corruption and foreign exploitation, Kenya’s Daily Nation reported on Wednes...Read More
RAPAPORT... Alrosa's sales leaped20% year on year in the first quarter, as demand for medium-sized and largerough diamonds strengthened. Total sales for thethree months ending March 31 rose to $1.61 billion, of which $1.58 billion wasfrom rough sales and $23.7 million from polished. "In January to March, world markets saw higher demand formedium-and large-size rough diamonds compared to the same...Read More
LONDON, April 10 (Reuters) - Petra Diamonds said on Tuesday that it has finalised an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for this year.The London-listed miner started talks with its banks earlier this year after the confiscation of a consignment of its diamonds by Tanzania and a labour strike at its South African mines put i...Read More
MOSCOW, April 10 (Reuters) - Russia's diamond miner Alrosa said on Tuesday that its sales of rough and polished diamonds totalled $559.5 million in March."There was a slight seasonal cooling off in demand in March," Alrosa Deputy CEO Yury Okoemov said, according to a company statement.Alrosa's total diamond sales in the first quarter 2018 amounted to $1.606 billion, the company said.(Reporting by...Read More
RAPAPORT... Belgium's polished-diamond exports dropped in March,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 7% year on year to $1.09 billionand, by volume, fell 13% to 423,764 carats. The average price grew 7% to $2,570per carat. Polished shipments to Switzerland - which hosted the Baselworld show thatmonth - slid 36% to $270.6 million, and exports to...Read More
JOHANNESBURG (miningweekly.com) – A Vision 2030 for the mining industry, and a strategy for growth and competitiveness of the sector, are topics under development, the Department of Mineral Resources (DMR) said on Tuesday, when efforts to finalise and gazette the Mining Charter also intensified.In announcing that Mineral Resources Minister Gwede Mantashe had on Tuesday led the second meeting...Read More
JOHANNESBURG (miningweekly.com) – Russian diamond miner Alrosa sold $559.5-million worth of rough and polished diamonds in March, an increase on February’s sales of $541.9-million, despite a slight seasonal cooling off in demand during the month.Deputy CEO Yury Okoemov said in a statement that auctions of diamonds larger than 10.8 ct had resulted in the higher month-on-month performanc...Read More
RAPAPORT... Mountain Province will move forward with its acquisition ofKennady Diamonds, after both parties' shareholders approved the deal at aspecial meeting.In January, Mountain Province announced its intention torepurchase the Kennady exploration project in Canada after a five-year separation."The Kennady acquisition notably strengthens MountainProvince's asset base," Mountain Province CEO Dav...Read More
LONDON – Petra Diamonds said on Tuesday that it has finalised an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for this year.The London-listed miner started talks with its banks earlier this year after the confiscation of a consignment of its diamonds by Tanzania and a labour strike at its South African mines put it at risk of f...Read More
RAPAPORT...Zimbabwe's state diamond company is planning to introducecontract sales as part of a strategy to revive operations and bring greatertransparency at the controversial Marange fields. The Zimbabwe Consolidated Diamond Company (ZCDC) resumedits tender sales in the first quarter of this year after suspending trading fornine months to get its house in order. While periodic tenders are...Read More
Several senior government officials have reportedly been summoned by Zimbabwe's parliamentary portfolio committee on mines and energy over the missing $15-billion diamond revenue.According to reports, former President Robert Mugabe, announced in 2015 that $15-billion of diamonds were spirited out of Marange, the dusty fields more than four hours' drive from the capital Harare which were th...Read More
RAPAPORT... Titan Company expects to reap the benefits of increasedregulation in the Indian jewelry market, the retailer said after reporting ajump in quarterly sales. Stricter credit conditions and a crackdown on illegalbehavior - which have come under focus since the Nirav Modi fraud scandalemerged in January - will help jewelers that have better structures in place,it said. The nation's goods a...Read More
RAPAPORT... Lucapa Diamond Company has raised $12.7 million (AUD 16.5million) to proceed with an aggressive drilling and exploration program at itsBrooking project in Western Australia. The funding - which came from a major new investor, as well as current shareholders - will go toward carrying outmore exploration at the lamproiteresource, the company said Monday. The asset has already produced 11...Read More
VANCOUVER (miningweekly.com) – Overwhelming majorities of Mountain Province Diamonds and Kennady Diamonds shareholders have approved the proposed merger of the companies.TSX- and Nasdaq-listed Mountain Province said that about 93% of the shareholders present in person or represented by proxy at the shareholder meeting on Monday and about 90% of all minority shareholders of the company presen...Read More
(IDEX Online) - ALROSA sold $1.582 billion of rough diamonds in the first three months of this year, with sales of almost $550.3 million in March alone. "In January-March, world markets saw higher demand for medium and large-size rough diamonds compared to the same period last year," said ALROSA Deputy CEO Yury Okoemov. "There was a slight seasonal cooling off in demand in March. However, g...Read More
(IDEX Online) - The DMCC held the 7th edition of its industry-leading annual Dubai Precious Metals Conference (DPMC) on Monday, with more than 300 participants listening as speakers and panelists from the precious metals sector discussed issues and opportunities critical to the future of the worldwide trade. Following the opening speech by DMCC CEO Gautam Sashittal, the conference keynote s...Read More
RAPAPORT... Titan Company expects to reap the benefits of increasedregulation in the Indian jewelry market, the retailer said after reporting ajump in quarterly sales. Stricter credit conditions and a crackdown on illegalbehavior - which have come under focus since the Nirav Modi fraud scandalemerged in January - will help jewelers that have better structures in place,it said. The nation's goods a...Read More