The Angolan government has forcefully expelled more than 40,000 foreign citizens, arguing they were illegally dwelling in Angola. The foreigners were deported from the country since last January to date, under the ongoing Operation Transparency. At a press briefing on Thursday in Saurimo City, eastern Lunda Sul Province, given by the spokesman of Operation Transparency, Antonio Bernardo, Angola�...Read More
Zimbabwe's Sunday Times reported that the Zim government will, in the next few weeks, announce at least two more investors that are expected to deploy huge foreign capital in the country's platinum sector as scores of local and foreign investors fall in love with the government's "Zimbabwe is Open for Business" mantra. The platinum sector is one of the few sectors in the economy that is...Read More
RAPAPORT... A new program by the Diamond Development Initiative (DDI) aims to help artisanal miners receive certification to show their diamonds are conflict-free. The Maendeleo Diamond Standards (MDS), named after the Swahili word for development, was created together with various stakeholders. Those include government entities,local civil-society organizations, and artisanal and small-scale mine...Read More
Private equity firm Orion Mine Finance has entered into an agreement to sell 90-million of the shares of Canadian miner Stornoway Diamond Corp that it held for investment purposes.Orion will sell the shares at C$0.04 a share, netting C$3.6-million.AdvertisementAfter the transaction, Orion, through entities managed by the firm, will own 22 083 596 of Stornoway shares and $20.5-million of...Read More
The Karowe mine, in Botswana, has produced the world’s second-largest uncut diamond, Canadian company Lucara Diamond Corp announced on Thursday, sending the miner’s share price up 11% to C$1.68 a share.At 1 758 ct, the diamond is second in size only to the 3 106 ct diamond that was mined at Cullinan, South Africa, in the early 1900s.AdvertisementThe latest Karowe find is now...Read More
The government of Macau, a Special Administrative Region (SAR) of China, which was ruled by Portugal from 1557 to 1999 (442 years) and which retains strong ties with the Lusophone world, hopes that joining the Kimberley Process will strengthen its trade relations with Angola. “There are companies in Angola which have now shown interest in doing business in Macau, following the application to...Read More
Diamond major Alrosa earned $8.91-million in revenue from the sale of special size diamonds – diamonds larger than 10.8 ct – at its second auction in Dubai, this year.Fifty-six companies from Belgium, India, Israel, the United Arab Emirates, the US, Hong Kong and Russia participated in the auction, which resulted in the sale of 109 out of 122 auction lots on offer sold. Two especi...Read More
Anglo American (LON: AAL) released its first quarter production results on Thursday, reporting decreased production numbers, mostly because of planned disruptions at its metallurgical coaldivision, where production dropped 25%."Production is 6% lower in the quarter, with two planned longwall moves at metallurgical coal accounting for 80% of the reduction," chief executive Mark Cutifani said in...Read More
Despite unfavourable market conditions, the mining industry is staging a comeback thanks to highly publicized multi-billion mergers and acquisitions targeting mostly the gold sector.The aggregate valuation of all miners listed on the Toronto Stock Exchange (TSX) declined by 12.7% in 2018, to $253.9 billion, compared with a 10.8% decrease in the market capitalization of the entire TSX market, says...Read More
Lucara Diamond Corp has unearthed the largest uncut diamond in recent history in its Karowe mine in Botswana, the Canadian company said on Thursday, beating its own record discovery from November 2015 that it struggled to sell for nearly two years.The 1,758-carat diamond is larger than a tennis ball and weighs close to 352 grams (12.42 ounces), it said in a statement. The stone is second in size o...Read More
Russian state-controlled miner Alrosa, the world's biggest producer of rough diamonds in terms of carats, expects a drop in its sales in 2019 due to weaker demand for polished diamonds from China, a senior company official told Reuters."We will not reach last year's sales number," Evgeniy Agureev, director of sales for Alrosa, said late on Wednesday.The company's sales in 2018 rose 6 percent from...Read More
Canada's mining industry started the year off on the right foot, with major deals including the Barrick-Randgold merger and Newmont's acquisition of Goldcorp, setting the tone for the sector.As a result, Ernst & Young's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies - rose 5% fin the January-Mar...Read More
RJC has launched its new Code of Practices (COP).The COP defines responsible, social and environmental business practices for companies in the jewelry supply chain and commits members to adhere to a robust set of comprehensive auditable standards. This is the third occasion for RJC to adapt its COP since being formed in 2005. The changes reflect "the evolving needs of the industry and demands of c...Read More
The local mining landscape has changed significantly in the quarter century following Nelson Mandela’s inauguration as the first democratically elected President of South Africa.While the industry has waned in terms of global production and research, it has made significant strides with regard to safety, diversity and transformation – mirroring the intent of the Constitution, which pri...Read More
The World Diamond Council (WDC) on Wednesday presented an overview of its revised System of Warranties (SoW) at the thirteenth Forum on Responsible Mineral Supply Chains of the Organization for Economic Cooperation and Development (OECD), in Paris.During the presentation, WDC president Stephane Fischler described the revised SoW as an essential building block for participants in the diamond supply...Read More
LONDON – More than 40-million people around the world work in artisanal and small-scale mining where minerals including gold, diamonds and cobalt are dug up often by hand, a report by the World Bank and development organisation Pact said on Wednesday.Increasing demand for metals and rising prices have triggered a boom in small-scale mining in recent years, mainly in poorer countries in South...Read More
The most valuable stone recovered to date at Aim-listed Firestone Diamonds’ Liqhobong mine, in Lesotho, was sold in March, along with a number of other high-value diamonds.The company’s sales for the third financial quarter, ended March 31, included the record 70 ct white diamond and a 46 ct white diamond, while the company reported signs of recovery in prices realised for the smaller,...Read More
Diamond miner De Beers’ rough diamond production for the quarter ended March 31 decreased by 8% year-on-year to 7.9-million carats, driven by lower output at its South African operations.De Beers Consolidated Mines, in South Africa, attributed its 65% year-on-year decrease in output to 400 000 ct to lower mined volumes at the Venetia mine, as it approached a transition from openpit to underg...Read More
The rough diamond market is showing signs of stability and early signs of a potential price recovery in the cheaper run-of-mine products, Canadian miner Mountain Province VP of diamond marketing Reid Mackie said on Thursday.He reported that the company, whose primary asset is its 49% interest in the Gahcho Kué mine in the Northwest Territories with De Beers Canada, has had a strong start to...Read More
Anglo American Plc is no longer a darling at JPMorgan Chase & Co.After almost three years of rating the mining giant's stock as overweight, the firm downgraded it to neutral on Wednesday citing a trio of concerns - shares no longer look as cheap, the company's 2020 earnings may see a cut and capital returns may be constrained in the first half of the year. Shares slid as much as 3 percent in Londo...Read More