Diamond stocks Articles

Dominion Diamond reports $16.3M Q2 loss

September 5, 2013 / Mining Markets staff

Dominion Diamond (TSX: DDC; NYSE: DDC) has released financial results for its first full quarter as majority owner and operator of the Ekati diamond mine, in the Northwest Territories. While the mine performed better than expected, one-time charges related to Dominion's purchase of a majority stake in the mine from BHP Billiton (NYSE: BHP; LSE: BLT) earlier this year, led to a loss of US$16.3 mill...Read More

Kennady Diamonds stock rockets on high-grade results from NWT project

August 7, 2013 / Mining Markets staff

Kennady Diamonds (TSXV: KDI) is on a roll, with its stock gaining 80% so far in the past three trading days on encouraging results from its 100%-owned Kennady North diamond project, in the Northwest Territories.Yesterday, the stock gained 41% on news that a 1.1-tonne sample, collected from last year's 5,000-metre drill program, returned an outstanding grade of 8.44 carats per tonne. The core, take...Read More

Can Aber alumni recreate Diavik success with North Arrow Minerals?

July 16, 2013 / Mining Markets staff

Since March, North Arrow Minerals (TSXV:NAR) has added six projects to its diamond exploration portfolio for a total of seven.The junior's decision to focus on diamond exploration exclusively - until this year, it's had a mixed portfolio of properties in the Arctic - is notable, not just because of the current funding climate for juniors, but because diamond juniors have been dealing with a fundin...Read More

Resource boost for Gahcho Ku diamond project

July 2, 2013 / Mining Markets staff

As a permitting decision on the Gahcho Ku diamond project, in the Northwest Territories, draws closer, 49% partner Mountain Province Diamonds (MPV-T, MDM-K) has released a new resource estimate for the project.The new resource is for Tuzo Deep, the deeper portions of the Tuzo kimberlite, one of three pipes that Mountain Province and majority partner De Beers plan to mine. Tuzo Deep now contains 3....Read More

Rio Tinto to stay in the diamond business

June 24, 2013 / Mining Markets staff

Rio Tinto (RIO-N, RIO-L) has decided to hang onto its diamond assets after all, concluding a strategic review of the business that the miner began in March 2012.The company considered selling the assets, or spinning off the diamond business into a separate public company. Rio's diamond assets consist of the Argyle mine in Australia, a 60% stake in the Diavik mine, in the Northwest Territories, 78%...Read More

Diamcor shares jump 18% on recovery of special' diamond

May 28, 2013 / Mining Markets staff

Shares in Diamcor Mining (DMI-V) rose 18% to $1.25 this morning on news that the diamond junior had recovered its first large diamond in the "special" category at its Krone-Endora project, in South Africa.The 11.23-carat stone is described as "very good quality." The company is currently processing material from its quarry in the +1 mm to -12 mm size fraction (material that will be retained on a 1...Read More

An adapt-or-die moment for junior miners

May 21, 2013 / Mining Markets staff

Newsletter writer and mining analyst John Kaiser sounds a little dejected as he describes the utterly bleak state of the mining industry today."The phones are completely dead, nobody cares," says the editor of Kaiser Research Online. "Companies can't raise money, it's like a complete dying sector."Kaiser made a now-famous prediction last year that around 500 juniors were bound for "extinction" bec...Read More

Dominion Diamond updates on Diavik, Ekati

May 10, 2013 / Mining Markets staff

Dominion Diamond (DDC-T, DDC-N) and Rio Tinto (RIO-N, RIO-L) have bumped up their 2013 production forecast for their jointly owned Diavik diamond mine, in the Northwest Territories.The 40%-60% partners now expect Diavik to produce 6.6 million carats for the year, 11% higher than their previous estimate of 6 million carats.The company said the increased output is anticipated to come from the compan...Read More

A pleasant surprise for Stornoway Diamond

April 11, 2013 / Mining Markets staff

The first valuation of diamonds from the Renard 65 kimberlite at Stornoway Diamond's (SWY-T) Renard project, in north-central Quebec, has yielded positive results for the mine developer.A valuation on 997-carat parcel of diamonds from Renard 65 by WWW International Diamond Consultants produced an average price of US$250 per carat. The average value was somewhat skewed by two stones that are among...Read More

Dominion Diamond already eyeing growth

April 4, 2013 / Mining Markets staff

Robert Gannicott, chairman and CEO of the newly rebranded Dominion Diamond (DDC-T, DDC-N) can't say much yet about the company's US$500-million acquisition of the Ekati mine in the Northwest Territories from BHP Billiton (BHP-N, BLT-L).The transaction, which is set to close on April 10, will mark the beginning of a new chapter for the former Harry Winston Diamond, which just closed the US$1-billio...Read More

Aber alumni option Stornoway projects

March 14, 2013 / Mining Markets staff

Stornoway Diamond (SWY-T) cofounder and former CEO Eira Thomas has signed a deal to option three exploration projects owned by the company.Thomas, who was a director of Stornoway until 2011, is assigning the rights and obligations of the option to North Arrow Minerals (NAR-V) - her father Grenville Thomas' company.Grenville Thomas founded Aber Resources (now Harry Winston Diamond [HW-T, HWD-N]), w...Read More

De Beers racing to resupply Victor, now that blockade is over

February 27, 2013 / Mining Markets staff

De Beers is scrambling to get supplies into its Victor diamond mine in northern Ontario, after members of the Attawapiskat First Nation blocked access to the mine via the seasonal ice road for much of February.The company normally has a roughly 45-day window in which to use the ice road to truck in fuel, heavy equipment and supplies for the year. The majority of its shipments have not made it in y...Read More

Lucara uncovers more blue diamonds at Karowe

January 8, 2013 / Mining Markets staff

Blue diamonds continue to pop up at Lucara Diamonds (LUC-T) Karowe diamond mine, in Botswana. The junior announced today it has recovered two more of the rare gems, bringing the total to four so far. Production at Karowe began in July 2012. The stones weigh 4.77 carats and 0.2 carat, respectively. Lucara sold a 9.46-carat blue diamond from Karowe for $4.5 million ($477,272 per carat) last year, as...Read More

Eight juniors that cheered the market in 2012

December 20, 2012 / Mining Markets staff

In 2012, junior miners faced a dreary market. Despite a rally early in the year, from Jan. 3 to Nov. 15, the S&P/TSX Venture Composite Index fell by 19% overall.But there were some juniors who managed to defy the market downdraft and rise by more than 100% over that period.These companies gave investors something to cheer about and were thus rewarded with access to capital and the chance to build...Read More

Pierre Lassonde: The gold guru sounds off on diamonds

November 29, 2012 / Mining Markets staff

In a frank discussion with Diamonds in Canada in late September, the cofounder and now chairman of Franco-Nevada (FNV-T, FNV-N) and ex-Newmont Mining (NMC-T, NEM-N) CEO explains why he believes diamonds will continue to be a tough space for the next couple of years, why he still dabbles in investing in the gems, and why they ultimately will stage a comeback.Diamonds in Canada: You're known as a go...Read More

An hour with mining great Pierre Lassonde

November 22, 2012 / Mining Markets staff

The big news Canada's diamond sector was waiting for - what will happen with Ekati and Diavik, the two diamond mines in the country that may be up for grabs - has been partially answered. Harry Winston Diamond (HW-T, HWD-N) announced last week that it is buying Ekati - Canada's first diamond mine - for $500 million from BHP Billiton (BHP-N, BLT-L). Unfortunately, we went to press with our November...Read More

Stornoway takes the DIY route to Renard

November 15, 2012 / Mining Markets staff

With the construction schedule at its Renard diamond project in Quebec at risk, Stornoway Diamond (SWY-T) has stepped up to take charge of the Route 167 extension that will provide road access to the project.A good portion of the 243-km-long road, which is being built by the provincial government under its Plan Nord initiative to open up investment in Quebec's northern reaches, is already complete...Read More

Lucara Diamond CEO just getting started

November 9, 2012 / Mining Markets staff

"I don't ever believe in using the word try," says William Lamb, the current driving force behind Lucara Diamond (LUC-T). "If you try, you are setting yourself up for failure. You are either going to do something or you are not, so when you say you are going to do something, you continue to work at it until you achieve," the 41-year-old mining executive said in a telephone interview from Johannesb...Read More

Lucara sees blue at Karowe

November 6, 2012 / Mining Markets staff

Lucara Diamond (LUC-T) has found a rare blue diamond at its Karowe diamond mine, in Botswana.The mine, Lucara's first, began commercial production in July. Karowe was known to host high-value Type II diamonds, but the 9.46-carat Type II stone is the first blue diamond recovered.The stone will be sold in a tender of 57,000 carats of diamonds from Karowe in late November. The tender will be the four...Read More

Can India rescue the battered diamond market?

November 1, 2012 / Mining Markets staff

China's rising appetite for diamonds is often the focus of attention for diamond-watchers, but there's another Asian giant that plays a pivotal role in the market.Like China, India has a vast consumer market for diamonds, but the country is also a big trading centre for diamonds, and the place where roughly 80% of the world's diamonds are polished.During the financial crisis, India was somewhat is...Read More