RAPAPORT... Mountain Province Diamonds has posted its highest monthly sales total to date, as better-quality production and improved demand drove rough prices higher in February.The company sold a total of 351,000 carats from its Gahcho Ku?(C) mine for $27.3 million during the month, at an average of $78 per carat. The increase from $53 per carat in December was due in part to an improvement...Read More
(IDEX Online) - Thailand's Ministry of Commerce's Department of International Trade Promotion (DITP) will hold the 61st edition of the Bangkok Gems & Jewelry Fair (BGJF) under the theme of "Heritage & Craftsmanship". The February 21 to 25 fair will "highlight Thailand's cultural heritage and the exquisite craftsmanship of Thai artisans that is internationally renowned". The 61s...Read More
LONDON – Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds.Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London through the reverse takeover of a cash shell, or dormant company. H...Read More
RAPAPORT... Alrosa's sales surged 38% to $504.5 million in January, as a strong holiday season boosted market sentiment. "We have seen good demand for the whole assortment of ourdiamond products," Yury Okoemov, deputy CEO of Alrosa, said Monday. "[Demand was]supported by positive trends in the major sales markets, backed by good retailsales results in 2017, including the Christmas season, and grow...Read More
(IDEX Online) - Mountain Province Diamonds Inc. said its recently completed first diamond sale of 2018 produced the highest result to date in total dollar terms, with total sales of $27.3 million for an average value per carat of $78, and $83 on a normalized basis. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Ku?(C) diamond mine located in Canada's Nort...Read More
MOSCOW – Russia's Alrosa said on Monday it had sold rough and polished diamonds worth $504.5-million in January.Rough diamond sales had amounted to $499-million and polished diamond sales to $5.5-million, it said in a statement.Advertisement“Earlier this year, we have seen good demand for the whole assortment of our diamond products," said deputy CEO Yury Okoemov."It was...Read More
RAPAPORT... India's gem and jewelry exports will grow by adouble-digit percentage this year, Pramod Agrawal, the newly elected chairman ofthe Gem & Jewellery Export Promotion Council (GJEPC), predicted this week. The high quality of Indian manufacturing and arecovery in US and European markets will drive the growth, Agrawal explained atthe Signature India International Jewellery Show (IIJS) in...Read More
(IDEX Online) - ALROSA sold $499 million of rough diamonds last month. ALROSA Deputy CEO Yury Okoemov said the miner saw "good demand for the whole assortment of our diamond products". It was supported by positive trends in the major sales markets backed by good retail sales results in 2017, including the Christmas season, and growing polished diamond prices in January," commented on the Ja...Read More
JOHANNESBURG (miningweekly.com) – Aim-listed Botswana Diamonds has started exploration work on the Sunland Minerals joint venture (JV), which it shares with Russian diamond producer Alrosa, in Botswana.The objective of the exploration programme is to follow up on 15 previously identified priority geophysical targets in PL232-235 and PL001-004 in the Central Kalahari Game Reserve.Advertisemen...Read More
RAPAPORT... Alrosa's sales surged 38% to $504.5 million in January, as a strong holiday season boosted market sentiment. "We have seen good demand for the whole assortment of ourdiamond products," Yury Okoemov, deputy CEO of Alrosa, said Monday. "[Demand was]supported by positive trends in the major sales markets, backed by good retailsales results in 2017, including the Christmas season, and grow...Read More
Australia's Lucapa Diamond (ASX:LOM) announced that, for the first time, workers at its 70% owned Mothae mine in Lesotho have recovered diamondssourcedfromresidualmaterialandkimberlitestockpiles.In a press release, the company explained that the gems were recovered through theexisting bulk sampling plant and infrastructure at Mothae, which has been refurbished ahead of schedule as part of a previo...Read More
RAPAPORT... De Beers' joint venture with the Namibian government is seekinga buyer for its Elizabeth Bay operation, as the miner diverts resources to its marineprojects. Namdeb closed ElizabethBay between 2009 and 2011, when it revived it and gave it a projected lifespanof four years. While the mine is expected to continue to produce diamonds through 2019, itsoutput does not meet De Beers' needs....Read More
RAPAPORT... Indian diamond manufacturer Asian Star's revenue jumped 40%year on year to $162.7 million (INR 10.47 billion) in the third fiscal quarter,the company reported last week. Profit morethan trebled to $7.5 million (INR 484.9 million) for the three months ending December 31,including subsidiaries. Revenue from the diamond division surged 45% to $145.2million (INR 9.34 billion), while...Read More
(IDEX Online) - Namdeb Holdings, a 50/50 joint venture between the government of Namibia and the De Beers Group, is seeking a buyer for its Elizabeth Bay mine to secure its long-term future. The mine was commissioned in 1991 and is located on the south-western coast of Namibia near the town L? 1/4 deritz. It employs around 160 people and produced around 200,000 carats in 2017. Elizab...Read More
(IDEX Online) - U.S. consumers are expected to spend an average $143.56 on Valentine's Day with 55 percent of the population celebrating this year, an increase from last year's $136.57, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Total spending is expected to reach $19.6 billion, up from $18.2 billion last year. The...Read More
RAPAPORT... Alex and Anihas filed a countersuit against Sterling Jewelers, claiming the retailer breached a supply agreement between the two companies, according to court filings.In August 2015, the companies entered into anagreement whereby Sterling would purchase Alex and Ani merchandise to sell insome of its Jared stores. But Sterling, a division of Signet Jewelers, struggled tosell all the goo...Read More
RAPAPORT... Lucapa Diamond Company garnered $9.1 million at its January rough sale, achieving an average price of $2,192 per carat. The miner sold 4,170 carats at the tender, its first of the year, it said in a recent statement. The diamonds are from the company's Lulo alluvial mine in Angola. Additionally, Lucapa has recovered its first stones -including a 6.6-carat diamond - from its Motha...Read More
JOHANNESBURG (miningweekly.com) - ASX-listed Lucapa Diamond Company has announced its first diamond recoveries from the Mothae kimberlite mine, which it owns in partnership with the government of Lesotho.The largest of the diamonds recovered in the first rest run was 6.6 ct.AdvertisementThe diamonds were recovered through the existing bulk sampling plant and infrastructure at Mothae, which has bee...Read More
RAPAPORT... De Beers' joint venture with the Namibian government is seekinga buyer for its Elizabeth Bay operation, as the miner diverts resources to its marineprojects. Namdeb closed ElizabethBay between 2009 and 2011, when it revived it and gave it a projected lifespanof four years. While the mine is expected to continue to produce diamonds through 2019, itsoutput does not meet De Beers' needs....Read More
RAPAPORT... Alex and Anihas filed a countersuit against Sterling Jewelers, claiming the retailer breached a supply agreement between the two companies, according to court filings.In August 2015, the companies entered into anagreement whereby Sterling would purchase Alex and Ani merchandise to sell insome of its Jared stores. But Sterling, a division of Signet Jewelers, struggled tosell all the goo...Read More