Diamond stocks Articles

De Beers latest diamond sales hit by India's demonetization

Dec. 14, 2016, 3:49 AM / Cecilia Jamasmie

De Beers, the world's top diamond producer by value, is beginning to feel the impact of India's recent decision to pull 500- and 1,000-rupee bills from circulation, as part of Prime Minister Narendra Modi's campaign against corruption.About 80% of the world's diamonds are cut and polished in India by players who normally pay for their rocks upfront and sell on credit. With Modi's notes withdrawal,...Read More

Here's how lab created diamonds are made

Dec. 13, 2016, 8:50 AM / Cecilia Jamasmie

In recent years, diamond miners have seen the rise of man-made gems entering the supply chain with some producers accusing the synthetic stones of weighing in their reduced sales of late.Technological leaps have allowed companies to make large numbers of gem-quality stones inexpensively, with some even touting them as the best "conflict-free" alternative to real diamonds.But how are these alternat...Read More

Lab-made diamond harder than the natural gem

Dec. 12, 2016, 9:27 PM / Andrew Topf

Diamonds are the hardest minerals known to humankind - with the ability to cut steel and the most impenetrable rock.However their place at the pinnacle of the Mohs scale - which compares a mineral's hardness by its ability to visibly scratch other minerals - could be in jeopardy according to recent research by scientists at Australian National University.Using a device called a diamond anvil cell,...Read More

Fresh shake-up at Rio Tinto in aftermath of bribery probe

Dec. 9, 2016, 3:36 AM / Cecilia Jamasmie

Mining giant Rio Tinto (LON, ASX:RIO) has once again reshuffled its top management team, replacing a senior executive and adding a new member as the company deals with a probe into a questionable payment made to an external consultant over the Simandou iron ore project in Guinea.Chief executive officer Jean-Sbastien Jacques, who took the helm less than six months ago, has appointed Vera Kirikova a...Read More

Anglo American about to make key decision on South African assets sale

Dec. 8, 2016, 3:45 AM / Cecilia Jamasmie

Anglo American (LON:AAL) is facing increasing pressure to make a decision on its plans to sell or spin-off its iron ore, coal and manganese operations in South Africa next year.The world's number five diversified miner has already held talks with its biggest investor, the country's state-owned Public Investment Corp. (PIC), which was pressing Anglo to include its prized platinum assets in any plan...Read More

Capital allocation: Canadian miners' top priority for 2017

Dec. 7, 2016, 11:03 AM / Cecilia Jamasmie

Capital allocation will be the top priority for Canada's large mining companies going into 2017, as they'll have to focus on directing money to the right projects and advancing them with the necessary funding in place, a new report released by PwC Wednesday shows.The mine of the future will embrace innovation and non-traditional ideas to overcome challenges and achieve success, the document says,...Read More

Global rough diamond production about to reach its peak

Dec. 7, 2016, 9:24 AM / Cecilia Jamasmie

Despite the recent opening of two new mines, global rough diamond production will reach its peak by 2019 and there will be a supply deficit only a year after that, two separate reports published this week show.Global rough diamond production will reach its peak in only three years before entering into a supply deficit by 2020, two separate reports show.According to one of them, unveiled Wednesday...Read More

De Beers facing legal action over mercury monitoring at Victor mine

Dec. 6, 2016, 3:49 AM / Cecilia Jamasmie

De Beers, the world's top diamond producer by value, will have to defend in court claims of alleged failure to fully report on the mercury levels detected near its Canadian Victor mine, located close to Attawapiskat First Nation in Northern Ontario.The legal action, filed by environmental group Canadian Parks and Wilderness Society's Wildlands League, claims that De Beers self-monitoring system is...Read More

Alrosa diamond sales picked up in November

Dec. 6, 2016, 2:57 AM / Cecilia Jamasmie

Russia's Alrosa (MCX:ALRS), the world's top diamond producer by output in carats, said Tuesday that sales of rough and polished gems picked up in November.Total diamond sales last month amounted to $255.2 million, 63% higher compared to November 2015, the company said.The company felt the impact of India's recent decision to pull 500- and 1,000-rupee bills from circulation as part of Prime Ministe...Read More

De Beers invests $5 million to expand India's diamond grading unit

Dec. 6, 2016, 2:15 AM / Cecilia Jamasmie

De Beers Group, the world's top diamond producer by value, unveiled Tuesday its newly expanded diamond grading and testing centre in Surat, an Indian port city known for being a major hub of diamond cutting and polishing.De Beers also plans to launch in Surat its first ever education service, covering the entire diamond pipeline.The facility expansion, which required a $5-million spending, takes t...Read More

Cameroon involved in Central African 'conflict diamonds' trade - report

Dec. 2, 2016, 9:04 AM / Cecilia Jamasmie

Illicit trafficking of diamonds from the Central African Republic (CAR) into neighbouring Cameroon continues to partially finance an almost three-year conflict, a report published Friday shows.According to Partnership Africa Canada, Cameroon's poor controls, smuggling and corruption, explain the country's failure to implement the Kimberley Process - an international diamond certification scheme me...Read More

Gemfields postpones emerald auction over India's demonetization'

Dec. 1, 2016, 9:10 AM / Cecilia Jamasmie

Precious stones miner Gemfields (LON:GEM), the world's biggest coloured gems producer, has pushed an auction of emeralds from its Kagem mine in Zambia to next year as the bulk of its customers are from India, which is in the throes of what the company calls a "demonetization" drive.Move comes as most of Gemfields customers are from India, which is in the throes of what the company calls a "demonet...Read More

Canada's Diavik mine axes 51 jobs

Nov. 30, 2016, 6:28 AM / Cecilia Jamasmie

Diavik Diamond Mines, the company that runs the iconic operation of the same name in Canada's Northwest Territories, has axed 51 jobs due to what the firm called "challenging" market conditions, CBC News reported.Diavik mine, owned by Dominion Diamond (TSX, NYSE:DDC) with a 40% stake and Rio Tinto (ASX, LON:RIO) holding the remaining 60%, has been affected by mayor changes as of late.Early this mo...Read More

KP Chair holds discussions with Tokyo Diamond Exchange Club, Japan Gem Society and leading Japanese jewellery retailers

Nov. 28, 2016, 8:33 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: The UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, has travelled to Japan to meet with senior representatives from the country's diamond trade industry. The goal of the discussions was to determine how these organisations can focus on generating awareness and raising consumer confidence in the KP and the broader diamond industry.The KP Chair met with officials from the Toky...Read More

Lucapa granted new five-year exploration licence for iconic Angola mine

Nov. 28, 2016, 2:45 AM / Cecilia Jamasmie

Shares in Australian Lucapa Diamond (ASX:LOM) closed higher Monday after the company announced Angola had approved a new 5-year kimberlite exploration licence for the Lulo project.Lucapa's Lulo project has bored some massive gems, including the 404.2-carat white rock found early this year, considered the largest diamond ever found in Angola.The Africa-focused miner said the decision applies to the...Read More

CHART: Mining capex decline set to continue

Nov. 27, 2016, 11:00 PM / Frik Els

While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals seems only to be gaining momentum.The copper price added 7.7% last week, while nickel rose more than 6% and tin continued its good run. Both zinc and lead enjoyed double digit gains with the former reaching a near nine-yea...Read More

Northern Canadian diamond miner ready for new exploration

Nov. 25, 2016, 4:22 PM / Andrew Topf

Undeterred by transportation challenges at its northern Canadian diamond property, Peregrine Diamonds is about to open its wallet for the next phase of exploration.Vancouver-based Peregrine (TSX:PGD) wants to be the next diamond mine in Canada to churn out high-value gems, following in the footsteps of two diamond mines in the Canadian north that have opened recently: Gahcho Ku in the Northwest Te...Read More

Canada's Quebec launches online tool to help suppliers win up to $50bn in contracts

Nov. 18, 2016, 7:25 AM / Cecilia Jamasmie

The Canadian province of Quebec has partnered with one of the country's leading firms in risk management and contractor compliance to develop a platform that aims to help local suppliers bid for Plan Nord contracts.Plan Nord is a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years in hopes of attracting $50 billion in public and private...Read More

Miners increased spending positive, but far from reaching staff just yet

Nov. 18, 2016, 2:15 AM / EduMine

While mining companies have resumed projects that were placed in the back burner last year and upped capital spending, employees have yet to benefit from the surge in commodity prices.While most miners have managed to straighten balance sheets, they have not began preparing to deal with a new looming risk - their ability to access workers with the skills needed in an upswing.The issue is not only...Read More

KP Plenary reaches historic agreement on Permanent Secretariat and NGO Fund Proposals by UAE KP Chair

Nov. 17, 2016, 8:26 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: Ahmed Bin Sulayem, the Kimberley Process Chair (KP Chair), brought a close to a historic KP Plenary that took place in Dubai between November 13 and 17. Key participants in the global initiative voted to approve the KP Chair's ideas to establish a Permanent Secretariat and to set up a common Fund for NGOs. The event was attended by over 300 delegates from around the world including gov...Read More