Diamond stocks Articles

ALROSA CEO Ivanov: Main Principles Of Strategy Will Remain Unchanged

June 30, 17 / Albert Robinson

(IDEX Online) - ALROSA President Sergey Ivanov said that the company is planning to adjust its development strategy, although no fundamental changes are expected. The company will still be focused on strengthening its leadership in diamond mining and building market strength. "We see a lot of potential in our infrastructure projects, including those in Angola. We have already signed documents...Read More

3D printing could improve mining uptime and productivity

30th June 2017 / Mia Breytenbach     

Forward-thinking mining organisations are realising that industrial-scale, three-dimensional (3D) printing of equipment used in mines could make operations more cost effective and reduce the frustrations of equipment downtime, says information technology consultancy and systems integration firm Wipro South Africa energy and natural resources director Louise Steenekamp. "By 3D-printing the spare pa...Read More

Tanzania laws would allow govt to tear up mining, energy deals

Jun. 29, 2017, 11:05 AM / Reuters

By Fumbuka Ng'wanakilalaDAR ES SALAAM, June 29 (Reuters) - The Tanzanian government submitted three bills to parliament on Thursday that would allow it to force mining and energy companies to renegotiate their contracts, the latest in a string of moves that have alarmed foreign investors.It was not immediately clear how the proposed renegotiation of contracts would affect a planned $30 billion gas...Read More

Rapaport Weekly Market Comment

Jun 29, 2017 / Rapaport News

Diamond marketsquiet, with select demand for better-quality SIs. Hong Kong show signalsimproving sentiment among jewelers, but dealers cautious. Rough market stable,with limited De Beers supply supporting prices that are reducing cutters'profit margins. Manufacturers expected to reduce polished output in 3Q asinventory levels rise. Petra Diamonds cuts production and sales outlook by 9% amidexpansi...Read More

Luk Fook Profit Rises with 4Q Improvement

Jun 29, 2017 / Rapaport News

RAPAPORT... Luk Fook's share price rose 2% on Thursday as the HongKong-based jeweler reported a jump in profit for fiscal 2017 and an improvementin consumer sentiment in mainland China. The company's profit grew 7% to $131.6 million (HKD 1.03billion) in the 12 months ending March 31, the retailer said in its Thursday statement. And while revenue dropped 9% to $1.64 billion (HKD 12.81 billion),it w...Read More

The GIA's Forays into Diamond Tracking

Jun 29, 2017 / Avi Krawitz

RAPAPORT... What business does a gemological laboratory have telling stories about diamonds? That was the unspoken question Matt Crimmin had to answer in his presentations at JCK Las Vegas earlier this month. As vice president of lab operations for the Gemological Institute of America (GIA), Crimmin used the show to roll out what his team had effectively been working on since 2010: a solution to s...Read More

Theo Fennell Founder Takes Over Own Brand

Jun 29, 2017 / Rapaport News

RAPAPORT... Jewelry designer Theo Fennell has bought out the luxurybrand that bears his name, with the backing of private-equity group Endless.Theo Fennell entered administration last month after theLondon-based jeweler became unable to handle its costs, rescuers atprofessional-services firm BDO said. In an update this week, Endless saidits support for Fennell's management buyout (MBO) came from i...Read More

Fischler to Replace Polyakov as WDC Head

Jun 29, 2017 / Rapaport News

RAPAPORT... Andrey Polyakov has resigned as president of the World Diamond Council (WDC), handing the reins to vice president Stphane Fischler, the organization said Wednesday.Fischler (pictured), who has been involved in the WDC since its establishment in 2000, will become acting president on July 1, before starting a two-year term as president in May 2018. A partner in Belgium-based company Fisc...Read More

Tanzania laws would allow govt to tear up mining, energy deals

29th June 2017 / Reuters     

DAR ES SALAAM - The Tanzanian government submitted three Bills to parliament on Thursday that would allow it to force mining and energy companies to renegotiate their contracts, the latest in a string of moves that have alarmed foreign investors.It was not immediately clear how the proposed renegotiation of contracts would affect a planned $30-billion gas project, or the troubled mining sector, wh...Read More

Court hearing on liquidation application against Rockwell subsidiaries postponed

29th June 2017 / Megan van Wyngaardt     

JOHANNESBURG (miningweekly.com) - A court hearing to consider the merits of the liquidation application against three subsidiaries of dual-listed Rockwell Diamonds, has been postponed to October 31.The hearing had originally been scheduled for June 22; however, this would be prior to Rockwell Diamonds' filing of a proposed business rescue plan (BRP), which if accepted, would also likely be compell...Read More

WDC president to resign by end of week

29th June 2017 / Creamer Media Reporter     

VANCOUVER (miningweekly.com) - Andrey Polyakov will resign as president of the World Diamond Council (WDC) by the end of the week.VP Stephane Fischler will serve as acting president from July 1 until May 1, 2018, when he will start his two-year term as WDC president. AdvertisementThe New York-based WDC did not state the reason for the sudden departure.The WDC is an industry group focused on removi...Read More

Sarine Files Legal Actions in India Against Technology Infringers

June 29, 17 / Albert Robinson

(IDEX Online) - Sarine Technologies Ltd has filed lawsuits in India seeking injunctive reliefs and damages for patent and software copyright infringement. Sarine and Galatea, its wholly owned subsidiary, developed the patented GalaxyTM inclusion mapping technology and other innovations in the manufacturing of polished diamonds. A broad portfolio of international patents and copyrights, including...Read More

ALROSA Confirms VP Andrey Polyakov Leaving the Company

June 29, 17 / Albert Robinson

(IDEX Online) - ALROSA has released a statement officially confirming that vice president Andrey Polyakov will leave the mining firm in the near future. The decision was agreed with ALROSA's President Sergey Ivanov. Previously, the World Diamond Council announced that Polyakov was stepping down as president of the body. Ivanov commented: "During 13 years at ALROSA, Andrey has done much n...Read More

Botswana's Debswana to extend Jwaneng diamond mine life beyond 2024

Jun. 28, 2017, 8:00 AM / Reuters

Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024, a mines minister said.The project, known as Cut 9, follows a $3 billion expansion of Botswana's richest diamond mine in 2010 to uncover 100 million carats of diamond and extend the life of the mine to2024."Cut 9 will be a h...Read More

Petra Diamonds warns output to fall short, shares crash

Jun. 28, 2017, 6:18 AM / Cecilia Jamasmie

Petra Diamonds' (LON:PDL) shares lost some of its shine Wednesday, falling to their lowest in a year, after the miner warned it expects production for the fiscal year ending June 30 to be lower than anticipated.The company's stock fell as much as 10% at the market open, and it was still trading low (-7.85%) to 104.5 pence in late afternoon.The firm is talking to lenders about a possible breach of...Read More

Petra Warns Sales Set to Fall Short

Jun 28, 2017 / Rapaport News

RAPAPORT... Petra Diamonds has lowered its sales and production forecastfor the current fiscal year, as an expansion of its operations has taken longerthan expected.The South Africa-focused miner's rough-diamond output willbe 8% to 9% below its projection of 4.4 million carats for the 12 months endingJune 30, it said Wednesday. As a result, revenue will be about 8% to 9%below what the market is ex...Read More

JA Delegates Meet Washington Leaders

Jun 28, 2017 / Rapaport News

RAPAPORT... Jewelers of America (JA) hosted two days of meetings andevents in Washington last week to give retailers and suppliers the opportunityto talk with lawmakers about issues affecting the industry.The seventh annual "advocacy visit" included a legislativeforum at the historic Army & Navy Club, and a full day of meetings withcongressional leaders on Capitol Hill. Jewelers met more than 40la...Read More

Few resource-rich countries properly manage their natural resources - report

28th June 2017 / Reuters     

LONDON - More than 80% of the world's major mining, oil and gas-producing countries fail to adequately govern the way they extract and manage natural resources, according to an index that tracks accountability and corruption.Eritrea was the worst performer in the annual index released by the New York-based Natural Resource Governance Institute (NRGI), while Norway ranked top, closely followed...Read More

Karelian granted claim reservation over area which may contain new kimberlite

28th June 2017 / Mariaan Webb     

JOHANNESBURG (miningweekly.com) - Prospector Karelian Diamond Resources has been granted a claim reservation in the Kaavi region of Finland, which the Aim- and ESM-listed company is hoping could lead to the discovery of a new kimberlite in the area.The 8.67 km2 claim reservation is for the area surrounding its Lahtojoki mining concession and covers the up-ice area of the kimberlite boulder discove...Read More

Debswana to extend Jwaneng diamond mine life beyond 2024

28th June 2017 / Reuters     

GABORONE - Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024, a mines minister said.The project, known as Cut 9, follows a $3-billion expansion of Botswana's richest diamond mine in 2010 to uncover 100-million carats of diamond and extend the life of the mine to...Read More