RAPAPORT... Johnny Velloza is set to leave Gem Diamonds, two monthsafter his promotion to deputy CEO and chief operating officer. Velloza will step down on September 15 to become jointCEO of a copper and cobalt company, the miner said Thursday. Gem Diamonds is currently searching for his successor. In theinterim, Gavin Beevers will join the miner as technical adviser on July 1 foran as-yet-undete...Read More
RAPAPORT... Indian authorities have asked Interpol for help arrestingthe owner of Winsome Diamonds, which is under investigation for alleged willfuldefault, The Economic Times reported.The Central Bureau of Investigation (CBI) called on theinternational police agency to issue a red notice against Jatin Mehta, who isbelieved to be in St. Kitts and Nevis, the report said Friday. A red notice is...Read More
(IDEX Online) - Russia's ALROSA will acquire the Kristall polishing company by October at a market price, according to the country's Deputy Finance Minister Alexei Moiseyev. "There is an agreement with the Federal State Property Management Agency to close the deal until the end of the third quarter," Moiseyev told the PRIME news organization. He said that ALROSA has made an offer for Kristall, and...Read More
Australia's Lucapa Diamond (ASX:LOM) has found an 89-carat yellow diamond at its 70%-owned Mothae mine in Lesotho during the current bulk sampling program.The company's managing director, Stephen Wetherall, said the recovery of such a large diamond so early in the bulk sampling program provided further proof that, just like the neighbouring Let??eng mine, Mothae is another source of large diamon...Read More
Bluerock Diamonds was up 7.87% to GBX1.27 (CAN0.02) a share after announcing production had resumed at its South African diamond mine, Kareevlei. The company announced that it had found a long-term fix for its cone crusher which had been affecting throughput. The company says that changes made to the crushing circuit will positively impact the plant's performance, improving throughput rates and wi...Read More
JSE-listed Rockwell Diamonds will not be able to file audited versions of its annual financial statements for the year ended February 28, by the required deadline of June 30, the company said in a statement on Friday.The embattled company's shares were delisted from the TSX at the end of August 2017 and concurrently listed on the NEX, a separate board of the TSX Venture Exchange.AdvertisementT...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has recovered an 89 ct yellow diamond from the current bulk sampling programme at its Mothae project, in Lesotho.The bulk sampling programme is designed to expand and improve the current Mothae resource by processing areas of the kimberlite pipe which are either not included in the resource, or where Lucapa believes there has be...Read More
Petra Diamonds has received valid acceptances in respect of 316.92-million shares, representing about 94.97% of the rights issue shares offered in a five to eight rights issue announced in May.Further, subscribers have been procured for 16.7-million rights issue shares, for which valid acceptances were not received, and which represents about 5.03% of the rights issue shares, at a price of 56.25p...Read More
Irresponsible jade extraction has led to extensive human suffering and environmental degradation in Myanmar's conflict-affected Kachin state. The use of heavy mining equipment, manufactured by companies such as Caterpillar, Komatsu and Volvo Construction Equipment, has enabled extraction to take place at an unprecedented speed. A Swedwatch report finds that the companies rely on insufficient hum...Read More
ALROSA, the world's largest diamond mining company, offers fans to choose a "football" name for large rough diamond weighing 76.53 carats. This stone will become the core of a "football" collection of special size rough diamonds to be auctioned in Moscow. The winner will receive a ticket to the final game of the FIFA World Cup 2018?,,?. The ideas of fans are accepted on a website www.diamondsofrus...Read More
Positive sentiment despite sluggish Hong Kong show. Stable US and Chinesedemand supporting the market. Suppliers holding polished prices firm as highrough prices squeeze manufacturers' profit margins. Larger-than-expected $575MJune De Beers sight signals robust rough market, with boxes selling atestimated average 3% to 6% premiums. Good polished demand for 1 ct., G-J,VS-SI, RapSpec A2+ diamonds. B...Read More
Polished market stable, backed by US and Far Eastdemand after Hong Kong show. Low availability of 3 ct. and larger diamonds. Steadyorders for 1 ct., J-L SIs. Dossiers in H-L, VS-SI moving well. Good rough activity,with focus on boxes that yield 0.30 to 1 ct. polished. Consistent manufacturingto fill shortages and satisfy anticipated third-quarter demand. RoundRead More
(IDEX Online) - The World Federation of Diamond Bourses (WFDB) has announced that the 2018 World Diamond Congress, the biannual meeting of the WFDB and the International Diamond Manufacturers Association (IDMA), will take place in Mumbai, India, during the latter part of October. This year's Congress was due to take place in Tel Aviv from June 19 to 21. WFDB President Ernie Blom said: "At our las...Read More
RAPAPORT... Luk Fook's profit and revenue rose in fiscal 2018, buoyed byincreased tourism from mainland China, it said Wednesday. The company's profit climbed 33% to $174.6 million (HKD 1.37billion) in the 12 months ending March 31, a higher rise than it expected. Revenue grew 14% to $1.86 billion (HKD 14.58 billion). "With the improved overall economic environment andincreased visitor arrivals i...Read More
(IDEX Online) - Chinese diamantaires will have their large diamonds polished in Israel in a new manufacturing facility that the Israel Diamond Exchange (IDE) and Israel Diamond Institute (IDI) are now building within the IDE complex. This was one of the areas of cooperation agreed by IDE President Yoram Dvash and Shanghai Diamond Exchange (SDE) President Li Qiang, with the signing of an historic...Read More
RAPAPORT... Chinese diamond companies will send large stones forpolishing at a new manufacturing facility in Israel, the Middle East nation'sindustry body said. Bourses in the two countries reached the agreement thisweek during a visit to Israel by Lin Qiang, president of the Shanghai DiamondExchange (SDE) (pictured, right). The new factory is due to open inJanuary at the next International Diamo...Read More
(IDEX Online) - Sarine Technologies Ltd noted that the major industry focus at the JCK Las Vegas 2018 trade show in early June was the issue of responsible diamond sourcing and provenance traceability. Major miners, including De Beers who hosted a panel on its Tracr blockchain proposition, Alrosa and Canada's Dominion, all commented on the growing importance of diamond traceability. "Sarine stro...Read More
RAPAPORT... Dominion Diamond Mines has reached a tentative agreementwith the Union of Northern Workers (UNW) that could potentially save 150 jobsat the Ekati deposit. Dominion had planned to replace that many employees withcontract workers due to high levels of absenteeism. However, the miner and theunion have now agreed on a solution that would deal with the company's concernswhile avoiding layof...Read More
RAPAPORT... De Beers subsidiary Element Six has started work on its new$94 million lab-grown-diamond facility just outside Portland, Oregon. The factory will manufacture synthetic diamonds exclusivelyfor De Beers' new fashion-jewelry brand, Lightbox Jewelry. The groundbreakingceremony took place Wednesday, Lightbox said. De Beers expects to complete the 60,000-square-foot facilityby August 2019, w...Read More
(IDEX Online) - A 67-year-old Florida man has been arrested for the alleged theft of $170,000 worth of diamonds from a Chicago jewelry store. Chicago police say Tamaz Hubel of Sunny Isles Beach, Florida, was taken into custody Sunday while trying to board a plane to France from Miami-Dade International Airport, AP reports. Police say he's being held in Florida pending his extradition to Illin...Read More