Karelian says Finland asset likely to hold more coloured diamonds
Irish explorer Karelian Diamond Resources (AIM: KDR) said on Tuesday its search for precious stones in Finland has taken a significant step forward after finding signs of diamond bearing kimberlite in the same area where it previously unearthed a rare, pale green diamond.
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Visit: 27
Canada’s mild winter disrupts key ice road to remote Arctic diamond mines
An unusually warm winter in Canada this year has delayed the opening of a 400-kilometer (250-mile) ice road that is rebuilt every year as the main conduit for Rio Tinto, Burgundy Mines and De Beers to access their diamond mines in the remote Arctic region.
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Visit: 59
Russia confirms deal to buy part of Alrosa’s output
Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on Thursday, a move that suggests Western restrictions on Russia’s diamond exports may be having some impact.
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Visit: 56
Russian diamond ban creates costly delays, Antwerp diamond dealers say
Antwerp’s diamond dealers face long and costly delays following an EU ban on Russian-origin diamonds that took effect on March 1 and has slowed imports, they say in a letter seen by Reuters.
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Visit: 74
Debswana diamond sales down 25.1% in 2023 on weak demand
Debswana Diamond Company’s sales of rough diamonds fell 25.1% in 2023, data released by Botswana’s central bank late on Thursday showed, as an economic slowdown hit demand for luxury items in the U.S. and China and competition from lab-grown gems increased.
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Visit: 103
Alrosa’s annual net profit drops 15.2%
Russia’s sanctions-hit diamond producer Alrosa on Wednesday reported 2023 net profit of 85.18 billion roubles ($925 million), down 15.2% from the previous year.
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Visit: 65
Diamond producers warn of pitfalls in G7’s Russia gem ban
The World Federation of Diamond Bourses (WFDB) issued an open letter on Wednesday calling on the G7 nations and the European Union to rethink the potentially “irreparable” market outcomes of its ban on Russia-produced diamonds.
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Visit: 61
South African billionaire Wiese returns to his diamond-hunting roots
Christo Wiese, South Africa’s billionaire retail king, is going back to the future.
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Visit: 63
Anglo American to review assets after writedowns and profit plunge
Anglo American will review its assets after a 94% plunge in annual profit and writedowns at its diamond and nickel operations, the company said on Thursday.
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Visit: 72
Rio Tinto unit faces criminal case in Canada over injured worker
A Canadian unit of global mining company Rio Tinto is facing a criminal case after an employee was seriously injured at an Arctic diamond mine, according to an announcement by local authorities.
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Visit: 121
Plane carrying Rio Tinto workers crashes in Canada’s Northwest
Six people were killed after a small plane carrying global miner Rio Tinto’s workers crashed near Fort Smith in Canada’s remote Northwest Territories (NWT) on Tuesday, the NWT Coroner Service said on Wednesday.
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Visit: 207
Gem Diamonds and Lucara find first big stones of 2024
Africa-focused miners Gem Diamonds (LON: GEMD) and Lucara Diamond (TSX: LUC) have recovered big, high-quality Type IIa diamonds at their respective operations.
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Visit: 97
De Beers to spend $1 billion on Botswana mine expansion
Mining News Pro - De Beers, the world’s largest diamond producer by value, said on Wednesday it’s going ahead with a planned $1 billion investment to extend the life of its flagship Jwaneng mine in Botswana by moving operations underground.
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Visit: 73
India urges G7 to delay ban on Russian diamonds as rules lack clarity
Mining News Pro - India has urged the Group of Seven (G7) countries to delay an incoming ban on Russian diamonds because the rules to trace the origins of gems remain unclear, two sources aware of the matter said.
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Visit: 102
EU Commission proposes Russian diamond ban
Mining News Pro - The European Commission has proposed a ban on imports of diamonds and liquid petroleum gas from Russia and also to tighten implementation of a price cap on Russian oil as part of new sanctions against Moscow, EU diplomats said on Wednesday.
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Visit: 125
De Beers keeps production target despite supply glut
Mining News Pro - De Beers is sticking to its 2023 production target because it is confident of the long-term outlook, its chief executive said on Monday, despite a glut in diamond supply amid weakening demand.
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Visit: 145
The diamond world takes radical steps to stop a pricing plunge
Mining News Pro - When the world’s most important diamond buyers arrived at De Beers’ offices in Botswana late last month, they were presented with a rare offer by their host: the option to buy nothing at all.
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Visit: 126
Stornoway Diamond files for bankruptcy for second time, stops operations at Quebec site
Mining News Pro - Stornoway Diamond Inc. is filing for bankruptcy protection for the second time in four years as the miner struggles to deal with volatile pricing on global markets.
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Visit: 196
G7 announcement on Russian diamond ban expected by end of month
Mining News Pro - A G7 statement announcing a ban on imports of Russian diamonds is expected by the end of this month, followed closely by a proposal for the European Union’s 12th package of sanctions on Russia, diplomatic sources said.
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Visit: 110
Alrosa suspends diamond supply for Sept-Oct – India’s trade body
Mining News Pro - Russian diamond producer Alrosa has suspended rough diamond supply for September and October after a request from India’s leading trade body, the Gems and Jewellery Export Promotion Council (GJEPC) said on Wednesday.
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Visit: 216
G7 to launch Russian diamond ban in bid to curb revenues, Belgium says
Mining News Pro - The Group of Seven (G7) countries is expected to announce an import ban on Russian diamonds in the next 2-3 weeks, Belgian officials told reporters on Friday, in a bid to tighten a squeeze on Russia’s capacity to finance the war in Ukraine.
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Visit: 156
De Beers ends lab-grown engagement diamonds foray as prices drop
Mining News Pro - De Beers decided to call time on offering lab-grown diamonds for engagement rings even as the man-made alternatives continue to cannibalize demand in one of the company’s most important markets.
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Visit: 134
Alrosa says mines largest gem-quality diamond in Russia in decade
Mining News Pro - Sanctions-hit Alrosa, the world’s biggest diamond producing company, said on Sunday it has mined the largest gem-quality diamond in Russia in the past decade.
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Visit: 146
India asks US to release funds frozen over suspected Russia diamond link
Mining News Pro - India has asked the United States to release $26 million belonging to at least two Indian diamond firms frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters.
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Visit: 137
De Beers to aid employees in evacuation amid wildfires in Canada’s Northwest Territories
Mining News Pro - Anglo American unit De Beers Group said on Thursday it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires.
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Visit: 200