Gem and Diamond

Mining News Pro - The rapidly-spreading coronavirus pandemic has squashed diamond miners’ dawning hopes of a recovery in a sector that has been severely hit by weak prices and demand since late 2018.

Mining News Pro - South Africa’s Petra Diamonds is saying goodbye to Adonis Pouroulis, the company’s founder and chairman for 23 years.

Mining News Pro - Owing to public health restrictions on the movement of people and products in Botswana, South Africa and India, diamond miner De Beers will not hold its third rough diamond sales cycle of this year.

Mining News Pro - Petra Diamonds has had to halt its production outlook for fiscal 2020 as it is closing its mines in South Africa for a mandatory 21-day lockdown aimed at tackling the worsening coronavirus pandemic.

Mining News Pro - Unlike many other mines in Canada and around the world that have been put on care and maintenance in the last week because of the global COVID-19 pandemic, De Beers‘ (51%-owned) and Mountain Province Diamonds‘ (49%-owned) Gahcho Kué mine in the Northwest Territories is so far continuing to operate.

Mining News Pro - Precious gemstones miner Gemfields (LON: GEM) said on Tuesday that it expected to record $39.1 million in net profit after tax for 2019, compared to a net loss of $60.4 million in the previous year.

Mining News Pro - Kimberlite rock samples recovered at De Beers Canada’s Chidliak project in Nunavut unveiled the composition of the North Atlantic craton—an ancient part of Earth’s continental crust that stretches from Scotland to Labrador.

Mining News Pro - Gem Diamonds has had to cancel its Letšeng large tender, owing to travel and other restrictions imposed by various governments, including in Belgium, where the tender would have been held from March 16 to 25.

Mining News Pro - Lucapa Diamond Company has recovered a 64-carat D coloured diamond from the Mothae kimberlite mine.

Mining News Pro - Botswana Diamonds has started a bulk sampling campaign at its Marsfontein project, in South Africa, where kimberlite was previously identified as being of “high interest”.

Mining News Pro - Lucapa Diamond and partners Endiama and Rosas & Petalas announced on Monday a 25% increase in the Lulo diamond mine reserve in Angola, to 100,700 carats.

Mining News Pro - Lucapa Diamond Company has confirmed a 25 per cent increase in the mine’s reserve to 100,700 carats.

Mining News Pro - Russian diamond miner Alrosa will relax payment terms for long-term customers in its March trade session starting this week, it said on Thursday, as diamond sales fall due to the uncertainty caused by the coronavirus outbreak.

Mining News Pro - Diamond miners Gem Diamonds delivered solid operational results for the year ended December 31, which, together with the targeted gains of a business transformation programme and continued emphasis on cost controls, affirmed it as one of the lowest-cost producers in the industry, CEO Clifford Elphick said on Wednesday.

Mining News Pro - ALROSA announced on Tuesday a 21% drop in revenue, down to RUB 238 billion ($3.32 billion), for 2019.

Mining News Pro - Angola’s new diamond trading policy generated an average annual growth of gross revenue of about 8.5% in the past two years.

Mining News Pro - Russia’s Alrosa, the world’s top diamond miner by volume, is betting on a new strategy to boost its sales amid an industry-wide slowdown that has hit small companies the hardest.

Mining News Pro - Russian miner Alrosa’s investment committee has approved financing for preliminary engineering studies at the Jubilee diamond mine, to provide up-to-date information to decide on the construction of an underground mine.

Mining News Pro - Africa-focused Firestone Diamonds has decided to leave the London Stock Exchange and reduce the size of its board in an attempt to reduce costs and ride out a lingering weakness in the global diamond market.

Mining News Pro - Not since at least the early 2000s, when De Beers gave up its global monopoly on diamonds, has the company earned so little money.

In Picture

Mining News Center