Mining News Pro - De Beers is considering key changes to the way it sells diamonds as frustration mounts among its customers—a supposedly elite group that are now struggling to turn a profit.
Mining News Pro - Rio Tinto’s iconic Argyle mine in remote Western Australia, the world’s biggest and the main global source of high-quality pink diamonds, will close in the fourth quarter this year, potentially pushing prices up and spurring exploration.
Mining News Pro - The Carnegie Institution of Washington, which has been doing scientific research for more than a century, filed lawsuits in New York alleging its patents for growing diamonds in a lab are being infringed by some top makers of such gem stones.
Mining News Pro - Just before the end of the year, the world’s top diamond producer by output, Alrosa, unearthed a large 191-carat rough diamond at its Botuobinskaya kimberlite pipe in Yakutia, eastern Russia.
Mining News Pro - The world’s top diamond producer by output, Alrosa, and the Zimbabwe Consolidated Diamond Company announced this week the signing of a number of agreements to finalize the creation of a joint venture for prospect and exploration work for primary diamond deposits in Zimbabwe.
Mining News Pro - Zambia will suspend a 15% export tax on gemstones, excluding diamonds, from Jan. 1 next year as the levy, aimed at raising more revenues ended up affecting the country’s output.
Mining News Pro - Canada’s Lucara Diamond is the latest miner to inject some optimism into a depressed market that was hit this year by an unforeseen oversupply and increasing demand for lab-made gems by announcing better than expected sales in December.
Mining News Pro - Anglo American’s De Beers, the world’s No.1 diamond miner by value, said on Wednesday that its last roughs sale of the year fetched $425 million, a slight improvement from the $400 million it obtained in the previous tender, but still over the year a whopping $1.4 billion less than in 2018.
Mining News Pro - Alrosa and independent technology company Everledger are launching a new e-commerce solution on WeChat — one of the world’s largest social platforms — to help Chinese retailers track the origin of diamonds using blockchain technology. WeChat is created and operated by Chinese tech giant Tencent, which recently became an investor of Everledger.
Mining News Pro - Russia is proposing to move toward ending the ban on selling so-called blood diamonds from the Central African Republic, a former French colony that’s struck recent military and commercial ties with Moscow, amid resistance from the US and Europe.
Mining News Pro - The world’s top diamond producer by output, Alrosa said on Wednesday it planned to start trial mining at a new section of its Luaxe deposit in Angola by mid-2020.
Mining News Pro - Struggling Petra Diamonds has had to suspend operations at all of its mines in South Africa after Eskom, the country’s electricity utility, declared a power system emergency and asked the miner to reduce its electricity load.
Mining News Pro - Shares in Africa-focused Firestone Diamonds went ballistic on Wednesday after it announced that stable power had returned to its Liqhobong mine in Lesotho, with the plant processing at full capacity.
Mining News Pro - The crisis afflicting the diamond industry won’t end anytime soon, according to Liberum Capital Markets.
Mining News Pro - Canada’s Lucara Diamond doesn’t seem deterred by weak conditions affecting the market as it plans to boost sales returns by targeting higher grade areas of its Karowe mine in Botswana.
Mining News Pro - They say it’s darkest before the dawn.
Mining News Pro - South Africa’s Petra Diamonds (LON:PDL) has sold a 20.08-carat blue precious rock it found in September at its iconic Cullinan mine for $14.9 million, or about $741,000 per carat, which is the highest price analysts had predicted.
Mining News Pro - De Beers sold the most diamonds since June after the biggest price cut in years, but sales still remained lower than normal for this time of year as the industry’s cutters and traders struggle to make money.
Mining News Pro - Botswana Diamonds said Tuesday that it recovered the first diamonds from plant commissioning activities on its Marsfontein mine in Limpopo, South Africa.
Mining News Pro - South Africa’s Petra Diamonds is opening up some of its tailings at Koffiefontein mine to small scale operators, in an effort to tackle illegal activities and solve some issues caused by artisanal miners.
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