Diamond stocks Articles

Mountain Province Names New Chief

Jun 11, 2017 / Rapaport News

RAPAPORT... Mountain Province Diamonds has appointed David Whittle asinterim CEO to replace Patrick Evans, who has stepped down, the miner announcedThursday.Evans, who had been CEO of Mountain Province for 11 years,will continue as a director and help the company during a transitional period,the company added. Whittle (pictured) is currently lead outside director and has 25 years'experience as a m...Read More

Chow Tai Fook Restores Elusive Sales Growth

Jun 11, 2017 / Rapaport News

RAPAPORT... Chow Tai Fook's sales grew in the second fiscal half amid a recovery in consumer sentiment in Greater China, the retailer reported.The 4.4% increase to $3.8 billion (HKD 29.72 billion) was the Hong Kong-based jeweler's first improvement in half-year revenue since 2014, according to Rapaport records. Sales in mainland China grew 7% year on year for the six months that ended March 31, wh...Read More

IHS Markit's materials price index registers 3.1% weekly decline

9th June 2017 / Henry Lazenby     

VANCOUVER (miningweekly.com) - A broad basket of commodities tracked by market research house IHS Markit has declined the most in a single week since mid-April, falling 3.1% last week in a broad retreat.IHS senior economist Ben Orhan said in a news release to Mining Weekly Online on Thursday that the commodity price index was back to levels last seen in November, with fully two-thirds of its big f...Read More

Mountain Province announces immediate departure of CEO Evans

9th June 2017 / Henry Lazenby     

VANCOUVER (miningweekly.com) - Canadian diamond producer Mountain Province Diamonds on Friday announced that president and CEO Patrick Evans would leave the company with immediate effect, following a mutual decision.The 49%-partner of De Beers Canada's Gahcho Ku mine, in Canada's Northwest Territories, appointed lead outside director David Whittle as interim president and CEO, while Evans continue...Read More

De Beers' Voorspoed mine initiates Kroonstad entrepreneur scheme

9th June 2017 / Ilan Solomons     

JOHANNESBURG (miningweekly.com) - Diamond miner De Beers' Voorspoed mine on Friday officially unveiled its Incubation Support Programme for small, medium-sized and microenterprises (SMMEs) at the miner's Zimele business hub in Kroonstad, in the Free State. The programme is aimed at helping budding entrepreneurs.Thirty-five people from the host and labour-sending areas of Voorspoed mine were identi...Read More

Local diamond mining industry still holds lots of potential' - Botswana Diamonds

9th June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - With world diamond prices currently "very unexciting" and with stagnant growth forecast for jewellery sales, junior miners should think long and hard before investing in diamond exploration projects, as there is a risk of decreased investment from the market.Speaking at the Junior Indaba, in Johannesburg, on Thursday, Cadiz Securities economist Peter Major warned...Read More

Tanzania says to introduce clearing fee for mineral exports

9th June 2017 / Reuters     

DODOMA, Tanzania - Tanzania plans to introduce a 1% clearing fee on the value of mineral exports in 2017/18 (July-June), its finance minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the east African country's natural resources."The government will not allow the direct export of minerals from mines," finance and planning minister Philip Mpa...Read More

Africa ramping up diamond exploration

9th June 2017 / Robyn Wilkinson     

As exploration activity in the African diamond mining industry resurges in expectation of a supply shortfall in the next five to eight years, mining consultant The MSA Group is preparing its facilities to meet a growth in demand for its services. "Compared with a relatively quiet year in 2016, we have seen a remarkable increase in proposal requests and project conversions in 2017. We were recently...Read More

Angola, Russia jointly developing new diamond projects and others

9th June 2017 / Keith Campbell     

Angola and Russia have committed to deepening their economic cooperation, not least in the area of mining. This was made clear during the recent visit to the African country by Russian Vice Premier Yury Trutnev. Among others, he held talks with Angolan state secretary for geology and mining Miguel Bondo Jnior. (Bondo Jnior's status is equivalent to Deputy Minister in South Africa.) The state secre...Read More

Modern exploration tech to revive local diamond mining

9th June 2017 / Robyn Wilkinson     

With the application of third-generation exploration technologies, South Africa may prove to be the next diamond exploration frontier, says diamond explorer Botswana Diamonds MD James Campbell. He notes that, as a result of low investor confidence in the country, little diamond exploration activity has recently been undertaken locally, leaving many potential mining opportunities unexplored by mode...Read More

New mine design focused on realising business excellence

9th June 2017 / Robyn Wilkinson     

Johannesburg-based project management and engineering company Paradigm Project Management (PPM) will apply its three halves' philosophy to design and develop diamond producer Stellar Diamonds' Tongo-Tonguma project, in Sierra Leone. PPM was awarded the contract for the project's front-end engineering design last month.Advertisement PPM director Jeremy Clarke explains that the company's three halve...Read More

ALROSA's revenue from diamond sales up 33% up to $472.1 million

Jun. 8, 2017, 9:50 AM / ALROSA

ALROSA, the world leader in diamond mining, has announced diamond sale results for May and the first five months of 2017.In May 2017, the Company sold rough and polished diamonds worth USD 472.1 million, which is 33% higher compared to a year earlier. Revenue from rough diamond sales amounted to USD 467.6 million, polished diamond sales - USD 4.5 million.In January-May 2017, ALROSA's rough and pol...Read More

EU regulation on responsible mining will be ineffective

Jun. 8, 2017, 9:46 AM / GoodElectronics Network

The EU regulation on mineral sourcing that comes into force today is a good but small first step. Additionally, due to its limited scope and delay in implementation, it will not be effective enough, says the GoodElectronics Network. The extraction and trade of minerals, including those that end up in our electronics, has been widely linked to serious human rights violations and environmental poll...Read More

Rapaport Weekly Market Comment

Jun 08, 2017 / Rapaport News

JCK show sees fewer but more serious buyers with reducedbudgets that reflect their lower inventory needs. Retail environment undergoingunprecedented change requiring jewelers and diamantaires to demonstrate theiradded-value service in price-sensitive market. US outlook positive if thediamond trade can meet the demands of a millennial consumer base. De Beersestimates 2016 global diamond jewelry dem...Read More

Rapaport Diamond Industry Stock Tracker

Jun 08, 2017 / Rapaport News

Share prices at Signet Jewelers (+17%) and Tiffany (+6%)recovered this week following recent slumps. US retail and industry stockgenerally had a strong week, as the Dow Jones Industrial Average grew 0.8%.European luxury stocks fell, headed by Swatch Group (-4.5%), amid politicaluncertainty ahead of Thursday's elections in the UK. In India, Titan (+12%)rose in value as investors reacted positively...Read More

JA and DCA Agree to Collaborate

Jun 08, 2017 / Rapaport News

RAPAPORT... Jewelers of America (JA) and the Diamond Council of America(DCA) have decided to work together toward their shared goal of supporting thejewelry industry, the two trade organizations announced Wednesday.The groups' boards voted in favor of an affiliationagreement that will enable them to align their missions andoperations better, but still be independent bodies, they said. DavidBonapar...Read More

Mining Outsider to Chair Anglo American

Jun 08, 2017 / Rapaport News

RAPAPORT... Anglo American, the parent company of De Beers, hasappointed industry outsider Stuart Chambers as chairman, the company announcedWednesday.Chambers is a former chairman of UK-based technology groupARM Holdings and consumer-packaging firm Rexam, and has also served as anon-executive director at engineering company Smiths Group and Britishsupermarket chain Tesco. Additionally, he has hel...Read More

Flea-Market Ring Fetches $848K

Jun 08, 2017 / Rapaport News

RAPAPORT... A diamond ring bought at a flea market for $13 (GBP 10) in the 1980s has gone to a buyer at Sotheby's for $847,667, smashing itspre-sale estimate.The seller had acquired the ring (pictured, above right) at a car-boot sale - aninformal British junk market - on the assumption it was onlycostume jewelry. However, the stone turned out to be a real, 26.29-carat, VVS2-clarity diamond.A membe...Read More

Diamond junior sector in urgent need of fixing - Bristow

8th June 2017 / Martin Creamer     

JOHANNESBURG (miningweekly.com) - South Africa needs to fix its declining junior mining sector because the country still has amazing mineral deposits that its mining entrepreneurs are best placed to mine, Global Diamond Network director Dr John Bristow told the Junior Indaba on Thursday.Bristow, who has an illustrious record as a diamond explorer and miner, flashed a graphic on to a large screen t...Read More

Anglo American appoints takeovers expert as new chairman

Jun. 7, 2017, 4:03 AM / Cecilia Jamasmie

Anglo American (LON:AAL), the world's fifth largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group.Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.Stuart Chambers is known for his active participation in the sale of several UK companies, including t...Read More