Diamond stocks Articles

BCL liquidation poser for Botswana diamond exploration JV

23rd June 2017 / Ilan Solomons     

Diamond explorer and project developer Botswana Diamonds is weighing its options in resolving the corporate governance issues relating to its Maibwe joint venture (JV) exploration project, in the emerging diamond province of Gope, in Botswana, says MD James Campbell. The Maibwe JV consists of a block of ten licences, which are located in the Central Kalahari region of the country. The JV partners...Read More

Rapaport Weekly Market Comment

Jun 22, 2017 / Rapaport News

Rough market cools slightly as De Beers raises prices an average 2% to3% at $530M June sight. De Beers limiting supply to support prices and alignwith sluggish polished sales. Hong Kong show begins with rising expectationsfor Chinese demand, after Las Vegas demonstrated cautious and changing USmarket. Declining mall traffic and popularity of custom-made bespoke jewelryimpacting jewelers' inventory...Read More

De Beers to Invest in Diamond Start-Ups

Jun 22, 2017 / Rapaport News

RAPAPORT... De Beers is launching an initiative to consider buyingminority stakes in start-ups and rapidly growing companies, the diamondproducer announced Thursday.The operation, De Beers Ventures, will look into makingsmall equity investments in areas such as consumer brands, marketing platforms,security, cutting and polishing, and imaging technologies, the miner said. "Not all good ideas can be...Read More

Italian Police Seize Bank Documents In Diamond Sales Inquiry

June 22, 17 / Albert Robinson

(IDEX Online) - Italian tax police have seized documents from the offices of five banks in an investigation over alleged fraud in relation to the sale of diamonds to bank customers. The police took documents and computer files from Intesa Sanpaolo, UniCredit, Monte dei Paschi di Siena, Banco BPM and Popolare di Bari, anonymous sources, told Reuters. None of the banks has commented. Diamond bro...Read More

Sarine Releases New Version of its Advisor Rough Planning Software

June 22, 17 / Albert Robinson

(IDEX Online) - Technology firm Sarine Technologies Ltd has released AdvisorTM 7.0, the latest version of its industry-leading rough planning software tool. The firm said that the new version includes many new features for rough planning, helping diamond manufacturers to further streamline the planning process and optimize the polished yield. This includes, for the first time, fully automated r...Read More

Swiss Watches Show Signs of Recovery

Jun 22, 2017 / Rapaport News

RAPAPORT... Swiss watch exports jumped in May amid stronger demand from Chinaand Hong Kong, the Federation of the Swiss Watch Industry reported Thursday. Exports grew 9% to $1.75 billion (CHF 1.7 billion) for themonth, driven by an 18% rise in shipments to Hong Kong, which stood at $229.9million (CHF 223.7 million). Chinese orders increased 34% to $119.2 million(CHF 116 million). Exports to the US...Read More

Optimism for Hong Kong as Show Begins

Jun 22, 2017 / Rapaport News

RAPAPORT... The 30th-anniversary edition of the Hong Kong Jewellery& Gem Fair opened Thursday amid an improvement in the local consumer market this year.Sales of jewelry, watches, clocks and other valuable giftsin Hong Kong increased 1.2% year on year to $3.1 billion (HKD 24.19 billion)for the first four months of 2017, according to data the Census and StatisticsDepartment released earlier this mo...Read More

Golden Saint recovers 14 diamonds from Tongo

22nd June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - West Africa-focused diamond and gold exploration company Golden Saint has recovered 14 diamonds, weighing a total of 10.46 ct, from its Tongo licence, in Sierra Leone.The diamonds range from 0.25 ct to 2.15 ct apiece, while some 23.62 g of alluvial gold was also recovered from the gravels treated.AdvertisementAt Golden Saint's Baja licence area, also in Sierra Leo...Read More

Firestone increases guidance as Liqhobong throughput rises

22nd June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - Firestone Diamonds now expects to recover around 360 000 ct of diamonds in the financial year ending June 30, against April's guidance of 300 000 ct, owing to operational ramp-up at its Liqhobong mine, in Lesotho, achieving nameplate throughput capacity on multiple occasions since the start of operations.The Aim-listed diamond miner has also started quarterly repa...Read More

Slow, bumpy market recovery on the cards for most commodities

22nd June 2017 / Henry Lazenby     

VANCOUVER (miningweekly.com) - The global commodity market is probably in for a slow, drawn-out recovery following the five-year bear market, S&P Global Market Intelligence director for reports on the metals and mining sectors Dr Chris Hinde said during a webcast on Wednesday.According to S&P's State of the Market' report, there was a mixed performance for mined commodities during the first three...Read More

De Beers Group To Consider Investments In Start-Ups

June 22, 17 / Albert Robinson

(IDEX Online) - The De Beers Group has announced the creation of De Beers Ventures to actively consider the acquisition of minority equity stakes in start-ups and growth companies. The new initiative will consider small investments in areas that may include downstream distribution, consumer brands, marketing platforms, security, cutting and polishing, and imaging technologies. The objectives of...Read More

Revised South African charter poses threat to miners, says Moody's

Jun. 21, 2017, 2:25 PM / Reuters

JOHANNESBURG, June 21 (Reuters) - Ratings agency Moody's warned on Wednesday that new regulations seeking to accelerate black ownership in South Africa's mining industry would deter investment, raise costs and diminish cashflow generation.Anglo American, AngloGold Ashanti, Gold Fields, Petra Diamonds, Sibanye Gold and South32 would be the most negatively affected miners if the revised mining chart...Read More

Gemfields stock hit by Pallinghurst's move to lower approval threshold for its bid

Jun. 21, 2017, 3:16 AM / Cecilia Jamasmie

Emeralds and rubies miner Gemfields' (LON:GEM) shares slipped more than 2% Wednesday after its largest investor Pallinghurst lowered the minimum number of acceptances from the company's shareholders on its takeover offer.Gemfields is recommending shareholders to accept Fosun's offer, despite considering it "unfair" and "unreasonable."South Africa-listed Pallinghurst now needs just 60% of Gemfields...Read More

Cartier Releases New The Proposal' Films

Jun 21, 2017 / Rapaport News

RAPAPORT... Cartier has followed up on its acclaimed "The Proposal"commercials by publishing two new videos on social media this week. The clips tell two separate stories of couples who meetby accident and - spoiler alert - develop a relationship that culminates in theperfect proposal with a Cartier diamond ring. Within 24 hours of going up on the jewelry brand'sInstagram account, the videos had n...Read More

Battle for Gemfields Heats Up with Investor Move

Jun 21, 2017 / Rapaport News

RAPAPORT... Pallinghurst Resources has upped the ante in the bidding warfor Gemfields by lowering the number of shareholder acceptances it needs forits offer to acquire the gemstone miner.Pallinghurst dropped the "acceptance condition" to 60% from75% following discussions with the UK's Panel on Takeovers andMergers, the private-equity group said Tuesday. This meant Pallinghurst wasable to declare...Read More

Harry Winston Spends $5.5M on Historic Emerald

Jun 21, 2017 / Rapaport News

RAPAPORT... Harry Winston bought the Rockefeller Emerald for a recordprice per carat at Christie's New York on Tuesday.The luxury jeweler's CEO, Nayla Hayek, had instructed chieffinancial officer Robert Scott to "bring this magnificent gem home at anyprice," Christie's reported Wednesday. That price was $5.5 million, setting a worldrecord of $305,516 per carat for an emerald at auction. Christie's...Read More

Christie's Sells Rockefeller Emerald For $5.5M, Sets Auction Record Per Carat Price

June 21, 17 / Albert Robinson

(IDEX Online) - The top sale at Christie's New York Magnificent Jewels was the Rockefeller Emerald, sold on behalf of a private American collector to jeweler Harry Winston, for $5,511,500, which set a new world auction record per carat of $305,000. The auction took place on June 20 and raised a total of $26,126,500, with 83 percent sold by lot and 89 percent by value. Harry Winston CEO Nayla...Read More

Mining Charter exposing South African economy to GATT angst

21st June 2017 / Martin Creamer     

JOHANNESBURG (miningweekly.com) - The procurement rules of the new Mining Charter may violate South Africa's obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick Leyden warned on Wednesday.The lawyers point out that, under GATT, Sou...Read More

ALROSA Uncovers 65.75-Carat Diamond At Jubilee Deposit

June 21, 17 / Staff Reporter

(IDEX Online) - ALROSA has uncovered a 65.75-carat diamond at its Jubilee kimberlite pipe in the Aikhalsky mining deposit in Yakutia in Russia's far east where most of its diamond mines are located. The transparent diamond is octahedron in shape, has light-yellow tint and dimensions of 23 x 16 x 17 mm. The last large diamond found at the deposit in the past two years was a 76.07-carat sto...Read More

Battle for Gemfields Heats Up

Jun 21, 2017 / Rapaport News

RAPAPORT... Pallinghurst Resources has upped the ante in the bidding warfor Gemfields by lowering the number of shareholder acceptances it needs forits offer to acquire the gemstone miner.Pallinghurst dropped the "acceptance condition" to 60% from75% following discussions with the UK's Panel on Takeovers andMergers, the private-equity group said Tuesday. This meant Pallinghurst wasable to declare...Read More