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Diamonds News

Embracing new tech in marine diamond mining

Updated 5 hours ago To increase the net present value (NPV) of Namibia’s marine diamond mining sector, four strategies – economies of scale, economies of scope, productivity and efficiency improvements, and improvements to the quality of the resource – can be assessed as potential options. This is according to a... 

Anglo to focus on cost cutting following disappointing 2023 performance  

By: Darren Parker     22nd February 2024 Mining major Anglo American chairperson Stuart Chambers and CEO Duncan Wanblad have both expressed disappointment with the company’s financial results for 2023, which were released on February 22. Chambers opened the presentation of the company’s results by candidly describing the company’s... 

anglo american sign and logo

Lucara expects higher revenues for 2024; announces new large diamond recoveries

By: Chanel de Bruyn     21st February 2024 Canada-headquartered Lucara Diamond Corp, which owns and operates the Karowe mine, in Botswana, expects its revenues to rebound to between $220-million and $250-million this year, after a "challenging" market in 2023 resulted in revenues of only $177.4-million, compared with the $212.9-million in... 

The Karowe openpit mine
The Karowe openpit mine

Rio Tinto posts lower FY profit

By: Mariaan Webb     21st February 2024 Diversified mining major Rio Tinto CEO Jakob Stausholm on Wednesday reported “resilient” financial results for 2023, with free cash flow of $7.7-billion and underlying earnings of $11.8-billion. Balance sheet strength enabled Rio Tinto to invest with disciple, while also playing an ordinary... 

Rio Tinto CEO Jakob Stausholm
Rio Tinto CEO Jakob Stausholm

Petra urges discipline among diamond producers to ensure balanced inventory levels

By: Sabrina Jardim     20th February 2024 Despite its exposure to various risks and uncertainties, such as rough diamond prices, political instability and liquidity challenges – which could have a material impact on its long-term development – diamond miner Petra Diamonds has said it remains resilient. The company reported on February 20... 

An image depicting Petra Diamonds CEO Richard Duffy
Photo by Creamer Media
Petra Diamonds CEO Richard Duffy

Gem Diamonds recovers third diamond greater than 100 ct this year

By: Marleny Arnoldi     19th February 2024 London-listed Gem Diamonds has recovered a high-quality 113 ct white Type II diamond from the Letšeng mine, in Lesotho. This follows recoveries of a high-quality 295 ct white Type II diamond and a low-quality 139 ct Boart diamond in January. 

Lucara signs new ten-year diamond sales agreement with HB Group

By: Tasneem Bulbulia     19th February 2024 Canadian mining company Lucara Diamond Corp has entered into a new diamond sales agreement (NDSA) with processer and trader HB Group out of Antwerp, Belgium, in respect of qualifying “special” diamonds – those weighing more than 10.8 ct – recovered from the Karowe mine, in Botswana. Under the... 

An image showing Lucara's Karowe mine in Botswana
Karowe mine

Petra sold $47.8m worth of diamonds in fourth tender

By: Darren Parker     16th February 2024 Diamond producer Petra Diamonds sold 428 900 ct for $47.8-million during its fourth tender cycle of the 2024 financial year. This represents a 4% increase in like-for-like prices compared with the preceding third tender cycle. which closed in December last year. 

Petra Diamonds' Cullinan mine
Petra Diamonds' Cullinan mine

De Beers’ innovative approach to safety ensures 10m fatality-free shifts at Venetia

By: Marleny Arnoldi     15th February 2024 Diamond miner De Beers’ Venetia mine, near Musina, Limpopo, has reached 10.2-million fatality-free shifts, which safety manager Gavin Anderson deems remarkable given the mine’s transition from openpit to underground operations. De Beers had to reskill the company’s openpit employees for... 

De Beers Venetia senior manager for safety and sustainable development Gavin Anderson
De Beers Venetia senior manager for safety and sustainable development Gavin Anderson

Power aggregators seen as key accelerators of South African mining’s energy transition  

By: Martin Creamer     13th February 2024 Many energy projects selling to one buyer, who in turn sells to many mines – this procurement model is seen as a key financial tool to accelerate the energy transition of South Africa’s mining industry. “We think the aggregator model can really accelerate the requirements of the mines to get... 

Nedbank CIB) Energy Finance Co-Head Amith Singh.
Nedbank CIB Energy Finance Co-Head Amith Singh interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Permanent aerial mesh support, exoskeletons under scrutiny to make mining safer 

By: Martin Creamer     9th February 2024 Minerals Council South Africa is looking at the possibility of promoting permanent aerial mesh support throughout the mining industry as part of its fall-of-ground action plan. The Minerals Council has a robust fall-of-ground action plan that targets several dimensions of the biggest contributor... 

Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).
Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).

Mining industry sustainability hinges on energy, logistics reforms, Minerals Council stresses

By: Schalk Burger     9th February 2024 The sustainability of the South African mining industry and its ability to play a meaningful and positive role in society and the economy are dependent on urgent and extensive structural reforms in the energy and logistics sectors, mining industry organisation the Minerals Council South Africa... 

Minerals Council CEO Mzila Mthenjane
Minerals Council CEO Mzila Mthenjane

De Beers’ fourth-quarter rough diamond production down 3% y/y

By: Darren Parker     8th February 2024 Diamond producer De Beers reported on February 8 that its 2023 fourth-quarter rough diamond production had decreased by 3% year-on-year to 7.9-million carats, primarily owing to the planned reduction in South Africa as the Venetia mine transitions to underground operations. This was partly offset... 

diamond sorting

Botswana sets aside $65m to buy 24% stake in gem trader HB Antwerp

By: Reuters     8th February 2024 Botswana has set aside 890-million pula ($65-million) to buy shares in Belgian diamond trader HB Antwerp, national budget documents show, advancing a deal that President Mokgweetsi Masisi said in November was about to be finalised. The deal would value the Belgian company, founded in 2020, at... 

De Beers warns diamond recovery will be slow after terrible year

By: Bloomberg     8th February 2024 De Beers expects any recovery in the beleaguered diamond market to be slow and gradual as the industry continues to suffer from weak economic growth in key markets such as China and the US. The sector almost came to a complete standstill in the second half of last year as De Beers and Alrosa... 

De Beers CEO Al Cook
De Beers CEO Al Cook

Angola’s diamond sparkle brightened by new De Beers deal 

By: Martin Creamer     6th February 2024 Diamond mining and marketing company De Beers is to collaborate with Angola on opportunities to increase diamond production, support alluvial mining sector and enhance social development for the benefit of Angola’s citizens. De Beers on Tuesday signed a memorandum of understanding (MOU) with... 

De Beers CEO Al Cook with Endiama CEO Ganga Junior at Investing in African Mining Indaba.
De Beers CEO Al Cook with Endiama CEO Ganga Junior at Investing in African Mining Indaba.

Noise-induced hearing loss now highest priority mining health condition, Indaba hears 

By: Martin Creamer     6th February 2024 Noise-induced hearing loss has displaced tuberculosis (TB) and silicosis as the top priority health threat in the South African mining industry. “I’m emphasising noise-induced hearing loss because the other diseases have gone down markedly whereas noise-induced hearing loss has not gone down as... 

From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.
From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.

Anglo CEO urges resilience, partnerships amid global disruptions

By: Shannon de Ryhove     6th February 2024 Multinational mining company Anglo American is focusing on partnerships with its host nations to grow the mining industry and remain resilient through disruptions, said CEO Duncan Wanblad during his keynote address on the first day of the Cape Town-based Investing in African Mining Indaba 2024.... 

Anglo American CEO Duncan Wanblad
Photo by Bloomberg
Anglo American CEO Duncan Wanblad

WiMSA has strong presence at Mining Indaba 

5th February 2024 Women in Mining South Africa (WiMSA) provides a free platform that supports and guides women's personal growth, leadership and career development in the South African mining industry. WiMSA was established in 2010 as a completely independent, volunteer-run non-profit organisation and exist... 

WiMSA has strong presence at Mining Indaba

South Africa’s mining industry now 39% black-owned, Mining Indaba hears 

By: Martin Creamer     5th February 2024 In 2004, the year South Africa’s far-reaching Mining Charter was first introduced, black ownership in South Africa’s globally recognised mining industry stood at a negligible 2%. This has now leapt nearly 20 times higher to approximately 39%, South Africa President Cyril Ramaphosa highlighted in... 

President Cyril Ramaphosa at the Mining Indaba.
President Cyril Ramaphosa at the Mining Indaba.

Swiss ban Russian diamond imports, joining latest EU sanctions

By: Reuters     1st February 2024 Switzerland will ban the import of Russian diamonds in line with the latest round of European Union sanctions designed to punish Moscow for its invasion of Ukraine, the government said on Wednesday. Bern has agreed to adopt the 12th round of sanctions implemented by the EU in December, with... 

Gem increases production, but lower prices bite

By: Creamer Media Reporter      1st February 2024 London-listed Gem Diamonds recovered 109 656 ct of diamonds from its Letšeng mine, in Lesotho, for 2023 – an increase on the 106 704 ct recovered in 2022. In a trading update on the company's performance for the quarter and year ended December 31, 2023, Gem says all operational and financial... 

The Letšeng mine

Botswana Diamonds-led consortium awarded prospecting licence in Eswatini

By: Creamer Media Reporter      31st January 2024 A consortium called Diamonds of Eswatini, in which London- and Botswana-listed Botswana Diamonds holds a 30% interest, has been awarded a prospecting licence over the diamondiferous Dokowayo kimberlites, in Eswatini. Botswana Diamonds, which holds a 30% interest in the consortium, is the operator. 

Solid US demand helps stabilise diamond industry – Cook

By: Creamer Media Reporter      31st January 2024 Diamond miner De Beers recorded provisional rough diamond sales of $370-million in its first sales cycle of this year. This was lower than the $454-million of sales recorded for the first sales cycle of 2023, but higher than the $137-million in sales recorded in the tenth sales cycle of 2023. 

De Beers CEO Al Cook
De Beers CEO Al Cook

Angola President to deliver keynote address

26th January 2024 Angola President João Lourenço will deliver the keynote address at this year’s Investing in African Mining Indaba – to be held at the Cape Town International Convention Centre, from February 5 to 8. Lourenço’s presence marks a significant step of progress for Angola and its mining industry as the... 

Six dead, one survivor in Rio Tinto plane crash

By: Reuters     25th January 2024 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. Four passengers and two North Western Air Lease crew members died in the crash, Chief... 

Six dead, one survivor in Rio Tinto plane crash

Mountain Province sales fall on lower prices

By: Creamer Media Reporter      24th January 2024 Diamond miner Mountain Province on Tuesday reported a 15% year-on-year drop in full-year sales revenue. The Canadian miner sold 2.72-million carats at an average value of C$121/ct for total proceeds of C$328.6-million in 2023. This compares with sales of 2.66-million at an average value of... 

Mountain Province sales fall on lower prices

Plane carrying Rio Tinto workers crashes in Canada's Northwest, some killed

By: Reuters     24th January 2024 A small plane carrying Rio Tinto workers crashed near Fort Smith in Canada's remote Northwest Territories on Tuesday during a flight to its Diavik diamond mine, killing some people on board. There were no details on how many people died or how many had been on board, but Northwestern Air Lease,... 

The plane crashed near Fort Smith during a flight to the Diavik diamond mine.
The plane crashed near Fort Smith during a flight to the Diavik diamond mine.

Botswana Diamonds discovers high-grade anomaly close to KX36 in the Kalahari

By: Tasneem Bulbulia     23rd January 2024 BSE- and Aim-listed Botswana Diamonds has completed a gravity survey over four high-grade geophysical targets that had good magnetic response in a previous survey undertaken by the company. Preliminary results from this gravity survey show that at least one of the four targets, which is located 6... 

Diamcor announces C$2m note issuance

By: Marleny Arnoldi     18th January 2024 TSX-V-listed Diamcor Mining has announced its intention to complete a convertible loan financing of up to C$2-million consisting of unsecured convertible promissory notes. The company expects that C$1.25-million of the financing will be subscribed for by existing large shareholders and management... 

Trucks being loaded at the Krone-Endora at Venetia mine

Cadastre imminent, 2024 to be used as year to clear backlogs, says Minerals Minister 

By: Martin Creamer     18th January 2024 The introduction of an electronic cadastral system to record and enable online access to mining data is imminent, Mineral Resources and Energy Minister Gwede Mantashe emphasised in an interview with Radio 702 host Clement Manyathela on Thursday. Mantashe disclosed to Manyathela that agreement had... 

Gwede Mantashe
Photo by Creamer Media Chief Photographer Donna Slater
Gwede Mantashe

Global mining commits to nature-positive future 

By: Martin Creamer     18th January 2024 Global mining and metals companies have committed at Davos to take urgent action to support a nature-positive future by 2030 that promotes the health, diversity and resilience of species, ecosystems and natural processes. International Council of Metals and Minerals (ICMM) members have pledged... 

ICMM CEO Rohitesh Dhawan
ICMM CEO Rohitesh Dhawan

South Africa-linked mining luminaries advising on metals industry greening 

By: Martin Creamer     17th January 2024 South Africa-linked mining luminaries are playing roles in an initiative to transform the metals industry with clean technology. Being targeted for metals is the elimination of energy-intensive smelters, toxic chemicals and strong acids. 

Ian Cockerill, Mark Cutifani and Tony O'Neill
Photo by Creamer Media
Ian Cockerill, Mark Cutifani and Tony O'Neill

Petra maintains ‘cautious’ approach to diamond sales

By: Marleny Arnoldi     16th January 2024 London-listed Petra Diamonds is heading into the second half of its 2024 financial year with caution, as the rough diamond market continues to stabilise following actions taken by producers and midstream value chain participants last year. The company is positioning itself to take advantage of... 

Petra Diamonds' Finsch mine
Petra Diamonds' Finsch mine

Smart wristwatches to uplift mineworker well-being at Copper 360  

By: Martin Creamer     16th January 2024 Computer programmes that use artificial intelligence (AI) to model orebodies and plan mines optimally have already been introduced by Copper 360, says the JSE AltX-listed Northern Cape copper mining company, which is developing the Rietberg copper mine, the first of a dozen copper mining assets... 

Copper 360 CEO Jan Nelson
Copper 360 CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Rio Tinto sees gradual recovery in China’s economy in 2024

By: Mariaan Webb     16th January 2024 Diversified mining major Rio Tinto expects stimulus measures implemented by China to catalyse a slow but steady recovery of the world’s second-biggest economy in 2024, providing reinforcement to commodity prices. Increased Chinese policy measures, reduced global recession anxieties and a general... 

CEO Jakob Stausholm
CEO Jakob Stausholm

De Beers cuts diamond prices to revive sales

By: Bloomberg     15th January 2024 De Beers made big cuts to its diamond prices as the world’s top producer tries to revive gem sales after the market ground to a halt last year. The industry almost came to a complete standstill in the second half of 2023 as the two biggest miners all but stopped supplies in a desperate attempt to... 

Rough diamonds produced by De Beers

Diamcor returns focus to growing Krone-Endora project following turbulent 2023

By: Marleny Arnoldi     11th January 2024 Canadian miner Diamcor Mining says it will turn its focus back to the advancement and growth of its Krone-Endora at Venetia project, in South Africa’s Limpopo province, this year, following various challenges navigated in 2023. The company’s primary focus areas this year will be to continue trial... 

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