Diamond stocks Articles

Mick Davies' X2 Resources fails to deliver, frees investors from commitments

Oct. 26, 2016, 4:45 AM / Cecilia Jamasmie

Mick Davis' X2 Resources, the mining fund once touted as the driver of much-needed investment into the mining industry during the worst of the commodities price rout, has freed investors from their financial commitments after failing to score any deals in three years.Relatively high assets valuations and an investor veto on deals frustrated Davis and his team in their search for mining bargains. R...Read More

KP Chair flags independent funding of NGOS in the KPCS by year end

Oct. 25, 2016, 8:09 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, 25 October: The UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, has issued a proposal related to fair, independent funding of NGOs in the KPCS.According to the proposal, which was sent to CSC on October 25, 2016, the KP Chair will lead the creation of a Fund, which would allow African NGOs to participate on equal terms in Review Visits and Missions, as well as KP Intersessional a...Read More

Botswana Diamonds finds octahedron in sample material at Orapa

Oct. 25, 2016, 7:58 AM / Cecilia Jamasmie

Shares in London-listed Botswana Diamonds (LON:BOD) climbed nearly 3% Tuesday after the company announced the discovery of a 1mm octahedron-shaped diamond while prospecting at Orapa.The company, which began exploring the area in March this year, said that specialists from its joint venture partner Alrosa are in the midst of reanalyzing 80 tonnes of samples that were sent to a processing facility i...Read More

Anglo American soars on positive production report

Oct. 25, 2016, 6:42 AM / Cecilia Jamasmie

Shares in Anglo American (LON:AAL), the world's number five diversified miner, were up more than 5% Tuesday afternoon as investors cheered the company's third quarter results, which saw the firm increasing output across all divisions, except for copper.Anglo, which is in the process of selling off mines and slimming down its portfolio, said production of diamonds, its largest underlying earnings d...Read More

Caterpillar axes sales forecast, warns factors depressing orders could linger

Oct. 25, 2016, 3:34 AM / Cecilia Jamasmie

Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, were slightly down in pre-market trading Tuesday after the firm's reported revenue that fell short of estimates and lowered its full-year guidance.The Peoria, Illinois-based reported earnings, adjusted for non-recurring costs, of 85 cents per share on revenue of $9.16 bill...Read More

Caterpillar rally hindered by fresh drop in sales

Oct. 24, 2016, 6:57 AM / Cecilia Jamasmie

Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, suffered Monday morning after the firm logged a 18% drop in global retail sales of equipment for the three-month period ended in September.While the Peoria, Illinois-based company has had more discussions about potential sales in recent months than in the last two or three...Read More

Members of Civil Society confirm attendance at KP Plenary in Dubai

Oct. 24, 2016, 3:04 AM / Kimberley Process Certification Scheme (KPCS)

The office of the UAE Kimberley Process Chair (KP Chair), today announced that members of Civil Society will attend the KP Plenary in Dubai, on November 13-17, 2016.The announcement follows an official invitation sent by the KP Chair on October 13, 2016, urging members of Civil Society Coalition to attend KP Plenary to discuss and make joint progress on industry-critical topics such as rough diamo...Read More

First Quebec diamond mine opens

Oct. 23, 2016, 4:02 PM / Andrew Topf

Good news for mining in Quebec, the majority French-speaking Canadian province, has come from Stornoway Diamond Corporation (TSX:SWY), which officially opened its Renard diamond mine last week.While ore has been flowing through the mill since mid-July, last Thursday was an occasion for the company to host a ceremony attended by dignitaries, including Pierre Arcand, Quebec's minister of energy and...Read More

Canadian diamond thieves finally arrested

Oct. 20, 2016, 5:21 PM / MINING.com Editor

Police from the York Region have arrested the Ontario couple that made headlines the past week for stealing a $10,000 diamond in New Brunswick and presumably two additional stones in Prince Edward Island. Grigori Zaharov, 70, and Natalia Feldman, 44, were taken into custody following a Canada-wide warrant. The pair is expected to be transferred to Saint John, where they stole a one-carat diamond f...Read More

UAE Kimberley Process Chair visits Uganda to garner support for the Global Initiative

Oct. 19, 2016, 3:56 AM / Kimberley Process Certification Scheme (KPCS)

The UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, has visited Uganda as part of ongoing efforts towards increasing the dialogue with African countries around the rough diamond trade.During his stay, Mr. Bin Sulayem held talks with Fred Kabagambe-Kaliisa, Permanent Secretary, Ministry of Energy and Mineral Development, Mbayo Esther Mbulakubuza, Minister for the Presidency (Office of th...Read More

Congo's cobalt production set to soar despite claims of child labour

Oct. 18, 2016, 4:31 AM / Cecilia Jamasmie

Production of cobalt, used in the lithium batteries that power everything from smartphones to electric cars, is set to soar in the Democratic Republic of the Congo (DRC), thanks to the country's low operating costs and strong projects pipeline, a new study published Tuesday shows.Analysts a BMI Research, a division of Fitch Group, estimate the country's cobalt output will jump from 66.2 thousand t...Read More

Thieves swap $20k diamonds for worthless stones in Canada's East Coast

Oct. 18, 2016, 1:15 AM / MINING.com News

Police in Canada's Prince Edward Island are looking for two people suspected of stealing two diamonds from a jewellery store last Wednesday by replacing the rocks, worth about $20,000, with fake stones.Investigators believe the couple may be the same who stole a $10,000 diamond from W. Smith and Company Fine Jewellers in Saint John, New Brunswick, earlier this month, Canadian Press reports.Anyone...Read More

Kimberley Process chairman wants UN involvement in supervising global diamond trade

Oct. 17, 2016, 8:03 AM / Cecilia Jamasmie

The chair of the Kimberley Process (KP), organization that regulates the global diamond industry, is calling for a permanent body belonging to or backed by the United Nations to help oversee the trade of precious gems.The initiative, currently headed by UAE's Ahmed bin Sulayem, believes that discussing the possibility of installing a Permanent Secretariat under the mandate of the UN at the next me...Read More

$10,000 diamond stolen in New Brunswick

Oct. 14, 2016, 3:00 AM / MINING.com Editor

New Brunswick Regional police are trying to identify a middle-aged couple that stole a $10,000 diamond from W. Smith and Company Fine Jewellers in Saint John, a week ago.The thieves didn't perform any act of violence or aggression. They did, however, display cunning and careful planning when they switched the original jewel with a fake one in a matter of seconds.According to Wayne Smith, owner of...Read More

NGOs want Venezuela to halt mining concessions, claim violations of Indigenous rights

Oct. 14, 2016, 1:00 AM / MINING.com Editor

Three NGOs, the Venezuelan Program for Education and Action in Human Rights-Provea, the Peace Lab, and the Working Group on Indigenous Issues at the Andes University, issued a statement blasting Nicols Maduro's government's push to exploit mineral resources on ancestral lands in the Bolvar, Amazonas, and Delta Amacuro states. They are joining their voices to those of other organizations, such as t...Read More

DiamondCorp's troubles continue

Oct. 13, 2016, 9:59 AM / MINING.com Editor

JSE- and Aim-listed DiamondCorp was issued a shutdown notice for its Lace project in South Africa's Free State province. According to a press release, the mine could be closed for at least a week after the Department of Mineral Resources presented the company with a Mine Health and Safety Act Section 54 notice, which requires mining firms to shut their operations for alleged safety transgressions....Read More

Positive signs put Canadian junior miners in a good position for recovery - PwC report

Oct. 13, 2016, 4:30 AM / PricewaterhouseCoopers Inc. ("PwC")

Mining companies once again make up over 50 % of the total market capitalization on the TSX Venture Exchange, up from 36% on June 30, 2015, according to PwC Canada's 2016 Junior Mine report, Signs of Life. For the past 12 month period between June 2015 to June 2016, cash flows from financing activities increased significantly and cash flows from debt and equity financing increased to 45% and 48% r...Read More

Plan Nord: Extracting the most value for Quebec

Oct. 7, 2016, 9:05 AM / Anne-Sophie Tétreault

Plan Nord has long been touted as the catalyst to unlock the economic potential of Quebec's vast north and kick-start much-needed investment in the area's remote communities. Despite the uncertainty around global metal prices, Quebec Premier Philippe Couillard has thrown his support behind a project that has the potential to be transformational for the north of his province. The scale of investmen...Read More

CHART: Despite unnerving gold price fall, mining rally's intact

Oct. 5, 2016, 11:12 PM / Frik Els

Gold's slide may be hurting sentiment and uranium and potash prices seem to be plumbing new depts every week, but 2016 is still a banner year for mining and metals.Gold is just hanging onto bull market status with a 20.1% improvement since the start of the year, but recent weakness has seen platinum and palladium drop 8.5% and 7.4% from highs reached in August. With a 47% or $220 an ounce gain fro...Read More

Stellar posts upbeat economic assessment for Sierra Leone's second largest diamond project

Oct. 5, 2016, 6:50 AM / Cecilia Jamasmie

Shares in West Africa-focused Stellar Diamonds (LON:STEL) were slightly up on Wednesday after the company released results of a preliminary economic assessment (PEA) for its proposed Tongo-Tonguma mine in Sierra Leone, which could become the country's second largest diamond operation.The company, which applied for large-scale mining in the West African nation late last year, agreed in August to co...Read More