Diamond stocks Articles

Diavik mine owner appeals to N.W.T. minister for help in regulatory dispute

May. 22, 2016, 2:55 PM / CBC News

The company operating the Diavik diamond mine says the denial of a change to its water licence could have an "immediate and materially-adverse impact" on the mine.Now the company is appealing to the N.W.T.'s Minister of Environment and Natural Resources for a chance to air its concerns.Read moreRead More

Dominion Diamond secures environmental approval for Ekati mine expansion

May. 20, 2016, 6:35 AM / Cecilia Jamasmie

Canada's Northwest Territories government has signed off on Dominion Diamond's (TSX, NYSE:DDC) project to expand its Ekati mine, which could help keep the operation in production until 2033.Lands minister Robert C. McLeod wrote to the Mackenzie Valley Environmental Impact Review board Thursday, saying the government accepted the board's 22 recommendations, which were outlined in February.Construct...Read More

'Oppenheimer Blue' diamond sets new record, fetches $57 million

May. 20, 2016, 3:03 AM / Cecilia Jamasmie

Image courtesy of Christie's.The "Oppenheimer Blue" diamond has sold for more than $57 million (56.8 million Swiss francs) including fees, crushing the previous record for the most expensive diamond ever sold at auction.The 14.62-carats gem, auctioned at Christie's in Geneva Wednesday, was originally expected to fetch up to $46 million. The stone now belongs to a private collector after a 25-minut...Read More

Lulo diamonds sell for A$2.9 million

May. 18, 2016, 12:58 PM / Lucapa Diamond Company Limited

Lucapa Diamond Company Limited (ASX: LOM) ("Lucapa" or "the Company") and its partners are pleased to announce the results of the latest sale of alluvial diamonds from the Lulo Diamond Project in Angola.The parcel of 1,862 carats of Lulo diamonds sold for gross proceeds of A$2.9 million (US$2.1 million), representing an average sale price of A$1,580 (US$1,150) per carat.Further large specials (di...Read More

WFDB holds committee meetings ahead of World Diamond Congress

May. 17, 2016, 8:57 AM / WFDB

Antwerp, Belgium - May 16, 2016: The World Federation of Diamond Bourses (WFDB) held its committee meetings on Monday ahead of the official opening of the 37th World Diamond Congresson Tuesday. The Congress, being held from May 16 to 19 in Dubai, is a biennial meeting held together with the International Diamond Manufacturers Association (IDMA). The first day is traditionally taken up with meeting...Read More

Rio Tinto reaches 100 million carats milestone at the Diavik diamond mine

May. 17, 2016, 12:10 AM / Rio Tinto Diamonds

Rio Tinto, the operator of the Diavik diamond mine in Canada, has announced a major milestone of producing 100 million carats of rough diamonds since the mine commenced in 2003.Rio Tinto Diamonds, Salt & Uranium managing director Simon Trott said "We are delighted to reach this milestone and I am enormously proud of the teams who have helped make this happen safely and responsibly in some of the h...Read More

Gold demand just had its strongest-ever first quarter

May. 16, 2016, 2:43 PM / Frank Holmes - U.S. Global Investors

By Frank HolmesCEO and Chief Investment OfficerU.S. Global InvestorsThis year's first quarter is one for the history books. Not only did gold appreciate at its fastest pace in 30 years, but demand for the yellow metal was the strongest it's ever been on record.Let me repeat that: the strongest it has ever been.Demand surged 21 percent from the same period a year ago, according to the latest World...Read More

Dubai Diamond Exchange to host Alternatives of Diamond Financing' seminar

May. 16, 2016, 8:23 AM / Dubai Diamond Exchange (DDE)

Dubai, UAE: 16 May 2016: The Dubai Diamond Exchange (DDE'), a DMCC platform, is hosting its 2nd Dubai Diamond Finance Seminar (DDFS) on Alternatives of Diamond Financing'5pm tomorrow at 17 May 2016 at the Almas Conference Centre, Dubai, UAE.To be integrated into the 2nd day of the 37th WFDB World Diamond Congress and hosted by Peter Meeus, Chairman, DDE, the aim of the seminar is to raise awarenes...Read More

Lucapa to invest $7 million upgrading Lulo diamond mine in Angola

May. 16, 2016, 5:15 AM / Cecilia Jamasmie

Australian Lucapa Diamond (ASX:LOM) will invest $7 million in the coming months to upgrade its Lulo mine in Angola, which has yielded major precious rocks in the past six months.Lulo is located 150km from Alrosa's Catoca mine, the world's fourth largest diamond mine.Developments planned for Lulo, located about 700 kilometers (435 miles) east of the capital Luanda, include new earthmoving equipment...Read More

Report highlights progress against child labour in mining in Congo

May. 13, 2016, 12:51 PM / Pact

Washington, D.C. - International development nonprofit Pact released Friday a report detailing the progress of efforts to address child labour in mining in the Democratic Republic of Congo. The report provides an in-depth look at four years of on-the-ground programming in the country, including progress and challenges.Around the world, more than 168 million children engage in work that deprives th...Read More

Russia approves plan to sell stake in diamond giant Alrosa

May. 12, 2016, 10:05 AM / Cecilia Jamasmie

Russian President Vladimir Putin has endorsed a potential plan to sell a part of the state's shares in the country's miner Alrosa (MCX:ALRS), the world's No.1 diamond producer by output in carats.According to Russian news agency Tass, the plan approved by the Kremlin also includes the potential sale of the nation's second-largest lender, VTB Bank.The Kremlin's stake in Alrosa may be reduced to 33%...Read More

NWT premier 'pleasantly surprised' by exploration season

May. 12, 2016, 1:35 AM / Michael Allan McCrae

Northwest Territories Premier, Bob McLeod, says he has been working with the mining sector to help it overcome the slump in commodity prices. McLeod spoke to MINING.com at the PDAC in Toronto in March. Despite the downturn McLeod was heartened by a stronger exploration season."Well, actually, I was pleasantly surprised. The latest figures for this year show that exploration has spent $99 million,"...Read More

Major correction underway for mining stocks

May. 9, 2016, 11:52 AM / Frik Els

Mining and metals investors were offloading the sector's big names on Monday after sharp drops in iron ore and copper prices following weaker than expected imports by top consumer China and renewed fears about the robustness of the 2016 rally in commodity prices.On the Comex market in New York copper for delivery in July fell as much 2.4% to $2.1025 a pound or some $4,635 a tonne. Copper's year to...Read More

Lucara's Constellation diamond sells for record $63 million

May. 9, 2016, 10:45 AM / Cecilia Jamasmie

Canada's Lucara Diamond (TSX:LUC) said Monday it has sold a massive 813-carat diamond for $63 million, a new record for a rough gem.The rock - named "The Constellation" - was found in November last year at the company's Karowe mine, in Botswana, the same operation where Lucara also unearthed the now famous three-billion-year-old "Lesedi La Rona", which will go under Sotheby's hammer on June 29.Dub...Read More

Production at giant Arctic diamond mine just weeks away

May. 9, 2016, 7:25 AM / Cecilia Jamasmie

Gahcho Ku, the largest new diamond mine under development globally, is now 94% complete with first production planned for the second half of this year, one of the companies behind the project said Monday.Gahcho Ku, the world's largest new diamond mine under development, is now 94% complete with first production planned for the second half of this year.According to Mountain Province Diamonds (TSX:M...Read More

This is the first and only miner upgraded this year

May. 6, 2016, 4:04 PM / Frik Els

Credit ratings agency Moody's warned at the beginning of the year that the current downturn in raw materials was like no other and that defaults among mining and metals companies could reach levels last seen during the height of the financial crisis.As a result, Moody's embarked on a sector-wide review of the 87 global mining majors that it covers. The review started off with a bang in January whe...Read More

UAE KP Chair and OECD to host a special forum' on rough diamond valuation and conformity

May. 6, 2016, 9:18 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: The Kimberley Process Chair today announced a one-day Special Forum' on rough diamond valuation, in collaboration with the OECD, to be hosted on 23 May, to coincide with the start of the Kimberley Process Intersessional.The Special Forum will be used as the platform to drive discussion and contribution towards a better understanding of rough diamond valuation. The initiative is aimed a...Read More

Landslide at jade mine in Myanmar leaves at least 13 dead

May. 6, 2016, 6:50 AM / Cecilia Jamasmie

At least 13 people have been confirmed dead and dozens are missing after a landslide at a jade mine in Myanmar's Hpakant, in the country's Kachin state, the heart of the country's lucrative greenstone industry.Deadly accidents are, unfortunately, not unusual in Hpakant, where as much as 90% of the world's jade is mined, AP reports.Miners work under extremely dangerous conditions, particularly thos...Read More

The state of the global diamond industry going into summer 2016

May. 5, 2016, 10:23 AM / Paul Zimnisky

As April 2016 concludes, the diamond industry has without question improved relative to a year ago, however, current industry data and commentary paints a mixed picture as to whether market fundamentals have in fact stabilized enough to support a new wave of sustainable growth continuing into the near-to-medium-term.Demand2016 rough sales through April have surprised to the upside, with De Beers a...Read More

World's second-largest diamond ever found could fetch over $70M

May. 5, 2016, 5:00 AM / Cecilia Jamasmie

A now famous three-billion-year-old diamond the size of a tennis ball found by Canada's Lucara Diamond (TSX:LUC) last year could fetch more than US$70 million (or about Cdn$90M) when it goes under Sotheby's hammer this summer.The giant 1,109-carat rock, known as "Lesedi La Rona" or "our light" (in the Tswana language spoken in Botswana), was unearthed in November at Lucara's Karowe Mine. It is cur...Read More