Diamond stocks Articles

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

De Beers latest diamonds sale the lowest this year

Oct. 4, 2016, 8:18 AM / Cecilia Jamasmie

Diamond giant De Beers, the world's top producer by value, saw its sales of rough gems fall in its latest offering as the sector heads into a seasonally slower period, but the company said results still beat expectations.The company, majority owned by Anglo American (LON:AAL), sold $485 million of rough diamonds in September, the eighth out of its ten annual sales events, down from the $639 millio...Read More

KP Chair, AWDC Rough Diamond Valuation forum moves closer to defining methodology

Oct. 3, 2016, 10:41 AM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: Opening the second, in a series of three Rough Diamond Valuation workshop-style forums the KP Chair, Ahmed Bin Sulayem, called for a consensual approach to determining a set of criteria to create universal methodology for the valuation of rough diamonds."Adopting the right methodology for a standardised approach to creating a process, which will serve all areas of the rough diamond ind...Read More

Rio Tinto's exclusive Argyle Pink Diamonds Tender inspires luxury jewellery collections in New York

Sep. 30, 2016, 9:00 AM / Rio Tinto

30 September 2016 - Rio Tinto's 2016 Argyle Pink Diamonds Tender collection has provided the inspiration for a US$20 million showcase of iconic pink and blue diamond jewellery pieces and limited edition collections of exquisite jewellery in New York.Argyle Pink Diamonds Authorised Partner Jordan Fine, whose New York based boutique diamond company JFine specialises in rare fancy colour diamonds, ha...Read More

Market volatility means cash is king for mining and metals companies

Sep. 29, 2016, 11:50 AM / Ernst & Young

Capital considerations dominate the top three business risks in the mining and metals sector, according to EY's Top 10 business risks facing mining and metals 2016-2017 report."Much like our global counterparts, Canadian mining and metals companies are facing challenges amid prolonged volatility in the sector," says Bruce Sprague, EY's Canadian Mining & Metals Leader. "Companies who proactively mi...Read More

No rapid rebound for African mining

Sep. 29, 2016, 6:00 AM / Frik Els

A new report by BMI Research, a Fitch company, forecasts subdued growth for the mining industry in Africa through 2020.BMI says Sub-Saharan Africa's mining sector growth will remain slow as a muted recovery of mineral prices will continue to put pressure on profit margins of metal producers.The authors of the report "expect some growth bright spots, the region will continue to face both significan...Read More

Will Anglo stick to radical restructuring plans?

Sep. 29, 2016, 12:46 AM / Frik Els

The world's number five diversified mining company, Anglo American announced a "radical portfolio restructuring" at the end of last year. The company with roots going back more than a hundred years to South Africa's gold and diamond fields said it's reducing the number of mines it operates from 55 to as few as 16 to focus on diamonds, copper and platinum because of better long-term potential. Its...Read More

Lucapa unearths 172.6-carat diamond, second big find in a week

Sep. 26, 2016, 8:41 PM / Andrew Topf

Is 2016 the year of the "rock"? It certainly seems like it, with another 100+carat diamond unveiled today by Lucapa Diamond Company Ltd. (ASX:LOM)The Perth-based diamond miner was quick to announce the discovery of the 172.6-carat D-colour, Type IIa stone from its Lulo mine in Angola. The rare gem tops the 104-carat stone, also a D-colour Type IIa, which Lulo pulled on September 21 from Lulo.And e...Read More

Rethinking resource investing

Sep. 26, 2016, 11:50 AM / The Gold Report

Ben Kramer-Miller, the chief analyst at miningWEALTH, discusses ways of investing in resource companies that go beyond the "explore-develop-produce" model.My readers will notice that I often favor resource companies that have unconventional business models:Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK) (gold royalty)Medallion Resources Ltd. (MDL:TSX.V; MRD:FSE; MLLOF:OTCQX) (rare-earth processing fro...Read More

Alrosa unveils detection device for polished diamonds

Sep. 21, 2016, 5:20 AM / Cecilia Jamasmie

Concerned about the increasing threat than synthetic diamonds entering the supply chain represent to those who mine the real thing, Russia's Alrosa (MCX:ALRS), has developed a detection device that verifies the authenticity of polished gems.The instrument was created by the diamond miner, the world's No.1 producer by output, and the Technological Institute for Superhard and Novel Carbon Materials,...Read More

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