Diamond stocks Articles

One of world's largest, newest diamond mines is now open

Sep. 21, 2016, 4:05 AM / Cecilia Jamasmie

Canada's newest diamond mine, the world's largest of its kind in the last 13 years, has formally began operations near the Arctic Circle in the country's remote far north.Gahcho Ku is the sixth precious rocks operation opened in Canada in the 18 years that the country has mined diamonds.Gahcho Ku, a joint venture between De Beers Canada (51%) and Mountain Province Diamonds (49%), is expected to co...Read More

Kimberley Process chair discusses future with DRC government

Sep. 21, 2016, 1:00 AM / Kimberley Process Certification Scheme (KPCS)

With general elections looming in one of Africa's biggest diamond producing nations, the Democratic Republic of the Congo (DRC), Ahmed Bin Sulayem is meeting with government ministers and senior industry figures to talk through the country's position on the Kimberley Process (KP) and to discuss various initiatives and programmes to further its stature as a major diamond producer.In addition to mee...Read More

World's top diamond producer Alrosa doesn't like synthetics

Sep. 20, 2016, 7:15 AM / Cecilia Jamasmie

Russia's Alrosa (MCX:ALRS), the world's top diamond producer by output, is concerned about the increasing threat than cheaper man-made gems entering the supply chain represent to those who mine the real thing.Speaking to clients and partners at the September Hong Kong Jewellery & Gem fair, the company said it is becoming imperative for the industry to find effective ways to defend the market from...Read More

Petra Diamond sees shiny 2017 for the global industry

Sep. 19, 2016, 5:00 AM / Cecilia Jamasmie

London-listed Petra Diamonds (LON:PDL), known for major findings in the past year, said Monday that despite challenging market conditions the sector's future looks promising.Reporting preliminary results for the year ended June 30, the diamond miner said it expected production to rise up to 24.3% in 2017 from the previous year and grow further to hit 5 million carats (mcts) in 2018, a year earlier...Read More

Not with a bang but a whimper: How commodities may end year

Sep. 16, 2016, 12:10 AM / Bloomberg

For commodities, 2016 started with a bang. If history is any guide, it will end with a whimper.The Bloomberg Commodity Index, tracking returns for 22 components, is heading for a third-quarter slump after posting consecutive gains in the first two periods. Since the data begins in 1991, that's only happened in four other years - and the final quarter was a loser for three of them.Continue reading....Read More

Millennials gave a $25 billion shot in the arm to the diamond industry last year

Sep. 14, 2016, 9:01 AM / Cecilia Jamasmie

Despite lower rough diamond demand in 2015, consumer diamond jewellery demand remained robust at US$79 billion, driven by five per cent growth in the US. (Image from archives)While demand for rough diamonds fell last year, young consumers helped boost sales for precious gems used in jewellery spending more than $25 billion on it, more than any other generation to date, a report by DeBeers shows.Ac...Read More

Rio Tinto's rare pink, red and violet diamonds showcased in Hong Kong

Sep. 14, 2016, 8:47 AM / Rio Tinto

Rio Tinto's spectacular 2016 Argyle Pink Diamonds Tender is being showcased in Hong Kong against the backdrop of the annual Hong Kong Watch and Jewellery Fair.The 2016 Tender collection is an unprecedented spectrum of colour, size and clarity, a truly magnificent collection of 63 one of a kind diamonds. The centrepiece of the collection, The Argyle Violet, is the largest violet diamond unearthed f...Read More

Despite problems SA still represents half sub-Sahara mining

Sep. 14, 2016, 6:26 AM / Frik Els

A new report by BMI Research, a Fitch company, shows despite South Africa's many setbacks and challenges the country will continue to dominate mining in sub-Sahara Africa.BMI says outlook for mineral production, trade and consumption will vary significantly across the region with Cte d'Ivoire and the Democratic Republic of Congo (DRC) recording the strongest economic growth rates due to a combinat...Read More

Underground mining equipment market to reach US$30.5 billion by 2023

Sep. 13, 2016, 11:29 AM / Valentina Ruiz Leotaud

Global underground mining equipment will reach US$30.5 billion by 2023 according to a market research study published last month by Credence Research. Based on what the firm calls a "comprehensive analysis of market influencing and inhibiting factors related to underground mining equipment industry," the report concludes that growing urbanization in the Asia Pacific region, the Middle East, Africa...Read More

This new technology could be blood diamonds worst enemy

Sep. 13, 2016, 8:01 AM / Cecilia Jamasmie

Sooner than you think, you will be able to learn where a diamond really comes from, its measurements, grading and other key information by simply using a smartphone, as two companies have partnered to bring near field communication (NFC) - best known for enabling mobile payments - into the diamond industry.Thinfilm, which prints NFC tags, and Sarine Technologies, which develops technologies for di...Read More

Vancouver diamond junior's Botswana deal falls through

Sep. 12, 2016, 5:06 AM / Frik Els

Tango Mining's (CVE:TGV) deal with Firestone Diamonds to acquire Firestone's BK11 kimberlite diamond mine in Botswana has fallen through.According to Proactive Investors Vancouver-based Tango was not able to raise the necessary $8 million to fund the acquisition of the mine and processing facility in time. The deal was first announced in March and Firestone last month extended the due date.Tango h...Read More

Swiss jeweller buys rights to $63M Constellation diamond

Sep. 11, 2016, 4:52 PM / Andrew Topf

The world's most expensive rough diamond is now in the hands of De Grisogono, a Swiss luxury jeweller and watch maker.Geneva-based De Grisogono purchased the rights to market Lucara Diamond's (TSX:LUC) Constellation gem, which sold in May for a record $63 million, at the launch of the 28th Biennale des Antiquaires in Paris. The price was not disclosed.The company entered into an agreement with Nem...Read More

As the land dries up, diamond mining companies are turning their sights to the sea

Sep. 11, 2016, 2:58 PM / The Telegraph

Namdeb, De Beers' 50:50 operation with the Namibian government, estimates that 95 per cent of its diamonds will in future come from the sea bed off Africa's southwest coast and the marine gems are already the fetching the highest prices from all of its seven mines.Five specially-adapted ships fitted with giant tractors and drills between them mine more than one million carats a year from rich allu...Read More

Lucapa finds another massive diamond at Lulo, biggest pink yet

Sep. 8, 2016, 10:15 AM / Cecilia Jamasmie

Australian Lucapa Diamond (ASX:LOM) has unearthed yet another massive, this time a 38.6-carat pink diamond, at its Lulo project in Angola.The coloured stone is the largest "fancy" pink diamond recovered to date from Lulo, surpassing the 28.5-carat, said the company, which sold it earlier this week as part of a parcel of other rocks for a total of $5.8 million.The Lulo diamond project, located 150...Read More

World's largest, newest diamond mine to inject $5.2bn into Canada's economy

Sep. 8, 2016, 4:10 AM / Cecilia Jamasmie

Gahcho Ku, co-owned by De Beers Canada and Mountain Province Diamonds, is located at Kennady Lake, about 280 km northeast of Yellowknife. (Image courtesy of De Beers Group)Gahcho Ku, the world's largest new diamond mine due to begin production later this month, is expected to contribute $5.2 billion (Cdn$6.7 billion) to Canada's economy and provide 1,200 new jobs, a report released Thursday by maj...Read More

Kimberley Process Chair visits Burkina Faso

Sep. 6, 2016, 12:48 PM / Kimberley Process Certification Scheme (KPCS)

Dubai, UAE: As part of his Africa Initiative', the UAE KP Chair was received by the President of Burkina Faso, H.E. Hon. Roch Marc Christian Kabore.Burkina Faso, despite being a non-diamond producing nation, has developed a reputation for its willingness to address the illicit trade across a number of commodities, including rough diamonds.Compliance protocols, border controls and security feature...Read More

Anglo's top shareholder to call vote on assets sale plan

Sep. 1, 2016, 9:02 AM / Cecilia Jamasmie

Anglo American's largest shareholder, South Africa's Public Investment Corporation (PIC), has stepped up pressure on the miner's plan to exit coal and iron ore to focus only on copper, diamonds and platinum by reportedly calling for a shareholder vote.The South African assets Anglo plans to sell include Kumba Iron Ore Ltd., coal mines that supply state-owned power producer Eskom Holdings, and mang...Read More

Oil sands stoppages push Canadian GDP down to 2009 recession levels

Aug. 31, 2016, 6:09 AM / Cecilia Jamasmie

Canada's economy shrank in the second quarter of the year touching levels not seen since 2009, when the country was in the midst of a global financial crisis, mostly due to the wildfires that wrecked parts of Fort McMurray, Alberta, the heart of the oil sands industry.Canada's economy shrank by 1.6% in the second quarter - the largest quarterly decline in gross domestic product since the second qu...Read More

Canada's mining industry faces workers shortage of up to 127,000 - report

Aug. 30, 2016, 3:35 AM / Cecilia Jamasmie

The average retiring worker takes with him 37 years of labour force experience, a loss the industry must offset, says the report. (Image from archives)With commodity prices rebounding from their lowest in at least 25 years, miners are stepping up spending and considering the reactivation of projects placed in the back burner, but there is a new looming risk they don't seem ready to deal with - the...Read More

Alrosa diamond sales drop in second quarter on fading demand

Aug. 29, 2016, 4:55 AM / Cecilia Jamasmie

Russia's Alrosa (MCX:ALRS), the world's top diamond producer by output in carats, reported Monday a 21% drop in sales from April to June when compared to the previous quarter, on what the company called "fading" demand for rough diamonds.Net profit for the period, however, increased substantially - up 61% from a year ago to 40.5 billion roubles ($625 million), helped partly by the rouble's weaknes...Read More

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