Mining Companies in Canada, Gold Mining Stocks & Junior Miners

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6% Chinese Growth Exaggerated

July 16, 2019 / news.goldseek.com

[The following was contributed by Farmer, a subscriber from Nairobi who is active in the Rick's Picks chat room.] Of all the lies we read reported without question by the news media, one of the most egregious is that of China's GDP is still running hot at over 6% annually. It's an astonishing number for such a large economy and even more incredible during a global economic slowdown. With s...Read More

Lulo Sales Rise in Second Quarter

July 16, 2019 / www.diamonds.net

RAPAPORT... Sales of rough from Lucapa Diamond Company's Lulo mine doubled to $10 million in the second quarter, reflecting higher volumes and an increase in the average price, the company said Monday.Sales volume surged 63% to 5,573 carats, while the average price grew 22% to $1,800 per carat. Production at the deposit in Angola fell 24% to 3,868 carats, as Lucapa focused on processing...Read More

Gem Diamonds Unearths 140ct. Rough

July 16, 2019 / www.diamonds.net

RAPAPORT... Gem Diamonds has recovered a white diamond weighing 140carats, the second over 100 carats it has reported this year. It found the high-quality stone on July 6 at its Let??eng mine in Lesotho, the company said Monday.In March, it found a 161-carat white diamond at the deposit. The miner recently recoveredtwo yellow diamonds from Let??eng weighing more than 100 carats. It retrieved a 13...Read More

Rio Tinto Production Falls in First Half

July 16, 2019 / www.diamonds.net

RAPAPORT... Diamond production at Rio Tinto dropped 10% year on year inthe first half of 2019, as the miner recovered lower-grade ore at its Argylemine in Australia. The company's share of production at the Argyle and Diavik mines came to 8.3million carats for the six months ending June 30, the company said Tuesday.Argyle yielded 6.1 million carats, a 13% decrease compared to the same periodlast y...Read More

GIA Cuts Prices 10% Amid Market Slowdown

July 16, 2019 / www.diamonds.net

RAPAPORT... The Gemological Institute of America (GIA) has temporarilyreduced grading fees for certain smaller diamonds after recording a drop in submissionsduring the recent industry slump. The organization is slashing prices of reports by 10% forpolished weighing from 0.30 to 0.49 carats until October 15, the GIA said in aletter to clients last week, seen by Rapaport News. "Right now, GIA...Read More

Indian diamond manufacturers demand GJEPC take action against financial defaulters

July 16, 2019 / www.idexonline.com

Earlier this week, a number of leading Indian diamond manufacturers sent an urgent letter to the Gem & Jewellery Export Promotion Council of India (GJEPC), arguing that the "credibility of the gems and jewelry industry is going down in the eyes of the government and general public at large," requesting the GJPEC to do damage control. "It is well known fact that the industry is going through s...Read More

Alrosa signs agreement, about to begin work in Zim

July 16, 2019 / www.idexonline.com

Alrosa of Russia, the world's leading diamond producing nation, and state-owned Zimbabwe Consolidated Diamond Company (ZCDC), reached agreement to develop diamond deposits in Zimbabwe. The agreement was signed by ALROSA Deputy CEO Vladimir Marchenko and ZCDC Non-Executive Board Chairman Killian Ukama. Emmerson Mnangagwa, President of the Republic of Zimbabwe, and Alrosa CEO Sergey Ivanov att...Read More

Stornoway Diamond going through rough patch

July 16, 2019 / www.idexonline.com

Stornoway Diamond reported that the average price per carat paid fell 9 percent during the second quarter. The company realized an average price per carat of $76, compared to $83 during the same period in 2018. On the other hand, the number of carats sold the Quebec diamond miner sold found buyers was 7 percent higher, reaching 460,832 carats. Stornoway President and CEO Patrick Godin said demand...Read More

Lucapa reports positive second quarter

July 16, 2019 / www.idexonline.com

Lucapa Diamond Company Limited, the diamond firm with mining interests in Angola, Botswana, Lesotho and Australia reported on its quarterly activities report for the period that ended 30 June 2019. It said that the arrival of a new mining vehicles at the f Lulo mine in Angola and a the accessing of higher-grade mining areas at the Mothae mine in Lesotho would make 2019 a successful and profitable...Read More

Oyu Tolgoi underground to cost more and take longer to reach first production

July 16, 2019 / www.mining-journal.com

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe company said in February challenging ground conditions required some "potentially significant" changes to the design and schedule of the $5.3 billion development.Read More