Diamond Stocks Articles

Million-dollar coin unveiled

Jul. 11, 2016, 8:59 PM / Government of Western Australia

Premier Colin Barnett today unveiled the world's first coin to feature a significant red diamond from Rio Tinto's Argyle pink diamond mine.The exclusive $1 million Kimberley Treasure coin was struck by The Perth Mint from one kilogram of 99.99 per cent pure gold, and features an image of a red kangaroo holding a radiant 0.54 carat red gemstone between its front paws.The unique collectable also dis...Read More

Gold price rally helps producers climb world's top 25 mining companies list

Jul. 11, 2016, 7:54 AM / Cecilia Jamasmie

Gold has consolidated its post-Brexit gains this month and continues to be the best-performing commodity so far this year, filling the pockets of most producers of the precious metal, a new study shows.According to SNL Metals & Mining, gold-focused companies have climbed the most in the ranking of the world's top 25 mining companies by market capitalization from April to June this year, helped by...Read More

Russia gets $813m for stake in diamond company Alrosa

Jul. 11, 2016, 3:34 AM / Cecilia Jamasmie

Russia's government has completed the sale of a 10.9% stake in state-controlled miner Alrosa (MCX:ALRS), the world's top diamond producer by output in carats, in what is the first of a series of planned partial privatizations to cover a budget deficit.Deal is the first of many major state-asset sales aimed at shoring up the country's budget, suffering from weak prices for oil, Russia's main export...Read More

De Beers Canada moves from Toronto to Calgary

Jul. 7, 2016, 3:31 AM / Cecilia Jamasmie

De Beers Canada - which is set to begin production at its new diamond mine, Gahcho Ku, in the Northwest Territories later this year - has moved its Canadian headquarters from Toronto to Calgary, bringing some much-needed job openings to a region severely hit by a collapse in oil prices.The new office is right next to the Calgary International Airport, which gives De Beers convenient connections to...Read More

Dominion Diamond to go ahead with Ekati mine expansion

Jul. 6, 2016, 7:57 AM / Cecilia Jamasmie

Canada's Dominion Diamond (TSX, NYSE:DDC) has decided to proceed with a key expansion for its Northwest Territories-based Ekati mine, which would help keep the iconic operation in production until 2033.The decision of moving forward with the development of the Jay pipe, located near Ekati's existing Misery pit, was based on positive feasibility study results, the company said in a statement.Domini...Read More

Illegal gold trade in Congo still benefiting armed groups, foreign companies

Jul. 5, 2016, 4:00 AM / Cecilia Jamasmie

International regulations have failed to prevent foreign firms and armed groups from profiting from illegal gold mining in mineral-rich eastern Democratic Republic of Congo, a new report by Global Witness shows.Illegally acquired and exported gold from the mineral-rich eastern Congo keeps filling the pockets of some foreign companies as well as armed groups.According to the UK-based organization,...Read More

More than 300 workers at risk of temporary layoffs at Ekati diamond mine

Jul. 4, 2016, 7:57 PM / CBC News

More than 300 Dominion Diamond employees and contract workers are at risk of being laid off at the Ekati diamond mine after a fire at the mine's processing plant on June 23.Operations at some of the open pits are expected to be temporarily shut down to cut costs while the processing plant is being repaired.Read moreRead More

Petra sells 121.2- carat diamond for $6 million

Jul. 1, 2016, 6:05 AM / Cecilia Jamasmie

London-listed Petra Diamonds (LON:PDL) has sold its recently found 121-carat white diamond for $6 million as part of its June sales process in Johannesburg.The diamond was found at Petra's Cullinan mine in South Africa, which has yielded several massive gems, including the largest rough gem diamond ever discovered.The stone, a Type II unearthed from the company's Cullinan mine in South Africa, was...Read More

Botswana's economy needs more than diamonds to shine

Jul. 1, 2016, 12:15 AM / National Public Radio (NPR)

Sotheby's attempted Wednesday to auction the largest diamond discovered in over a century - a hunk of transparent rock the size of a tennis ball. It was found last November at an open-pit mine in the southern African country of Botswana. At 1,109 carats it's second in size only to the storied "Cullinan" diamond found in South Africa in 1905 and cut down into nine of the gems in the United Kingdom'...Read More

Alrosa gets own security force

Jun. 30, 2016, 3:11 PM / Frik Els

Diamond giant PJSC Alrosa announced this week that the Russian government has authorized it to establish a departmental security service to protect the company's production facilities in the country.Alrosa, together with energy giants including Rosneft and Gazprom, is on a list of strategic enterprises under the Decree of the President of the Russian Federation. According to Rinat Gizatulin, Alro...Read More

ALROSA to establish own security service

Jun. 30, 2016, 9:32 AM / ALROSA

Moscow, June 29, 2016 - PJSC ALROSA, the world leader in diamond mining, has announced that it was authorized to establish a departmental security service to protect the Company's production facilities.Based on the amendments to Article 8 of the Federal Law of April 14, 1999, No. 77-FZ On Departmental Security Service approved today by the Council of the Federation, ALROSA's relevant subdivisions...Read More

Despite the hype world's second-largest diamond ever found fails to sell

Jun. 29, 2016, 12:15 PM / Cecilia Jamasmie

A three-billion-year-old diamond the size of a tennis ball found by Canada's Lucara Diamond (TSX:LUC) last year failed to sell at a Sotheby's auction in London on Wednesday as bids fell short of the minimum reserve price.Shares in the Vancouver-based miner collapsed on the news and were trading more than 16% down in Toronto at 3:50 pm ET.Image courtesy of Lucara Diamond.Lucara said it will keep th...Read More

KP Chair visits Angola and South Africa

Jun. 29, 2016, 9:30 AM / Kimberley Process Certification Scheme (KPCS)

KP Chair, Ahmed Bin Sulayem with Jos Eduardo dos Santos, President of AngolaIn the second phase of his Africa Initiative, (with a tour of the Central African Republic already completed) the KP Chair, Ahmed Bin Sulayem has visited Angola and South Africa, the two founding countries of the Kimberly Process, to discuss first-hand the progress that diamond producing nations are making to comply with K...Read More

World's largest diamond found in 100 years goes under the hammer

Jun. 28, 2016, 9:05 AM / Cecilia Jamasmie

A now famous three-billion-year-old diamond the size of a tennis ball found by Canada's Lucara Diamond (TSX:LUC) last year could fetch more than US$70 million (or about Cdn$90M) when it goes under Sotheby's hammer this Wednesday in London.The giant 1,109-carat rock, known as "Lesedi La Rona" or "our light" (in the Tswana language spoken in Botswana), was unearthed in November at Lucara's Karowe mi...Read More

Dominion shares tank as fire shuts Ekati plant

Jun. 27, 2016, 12:25 PM / Frik Els

Dominion Diamond Corporation (TSX:DDC, NYSE:DDC) announced on Monday it is still assessing damage after small fire halted processing operations at its ageing Ekati diamond mine in Canada's far north last week.Dominion said in a statement the fire that broke out on Thursday last week was extinguished the same day and all personnel were safely evacuated from the plant and no injuries have been repor...Read More

Gemfields Unveils:Ruby Inspired Stories

Jun. 24, 2016, 8:06 AM / Gemfields

London, 22nd June 2016 - Gemfields, a leading supplier of responsibly sourced coloured gemstones, is proud to unveil Ruby Inspired Stories', a triptych of films featuring up-and-coming global female talent, each exploring the hidden meaning behind these captivating gemstones.A long-established part of myth and tradition, and true to Gemfields' core belief that there is A Story in Every Gemstone',...Read More

Second Latin American Diamond and Jewelry Weekopens at the World Jewelry Hub in Panama City

Jun. 22, 2016, 8:10 AM / World Jewelry Hub (WJH)

Ali Pastorini (third from right), WJH Senior Vice President, and Judy Meana (third from left), WJDH Vice President, flanked by ladies in traditional Panamanian dress, welcoming guests to the Second Latin American Diamond and Jewelry Week at the World Jewelry Hub yesterday.PANAMA: JUNE 22, 2016 - The Second Latin American Diamond and Jewelry Week opened yesterday at the World Jewelry Hub in Panama...Read More

Rio Tinto may be planning a $9bn spinoff a la BHP

Jun. 21, 2016, 10:27 AM / Cecilia Jamasmie

Together with announcing a major management reshuffle and division reorganization, Rio Tinto (ASX, LON:RIO) revived Tuesday rumours of an incoming $9 billion BHP-style spinoff.Soon-to-be Rio's chief executive, Jean-Sbastien Jacques, overhauled the group business divisions, leaving its least loved units - coal, uranium salt, borates and its Iron Ore Co. of Canada - under a new umbrella branded as t...Read More

Petra finds another massive diamond at its Cullinan mine

Jun. 21, 2016, 8:16 AM / Cecilia Jamasmie

London-listed Petra Diamonds (LON:PDL), already known for its major findings of recent months, has just unearthed a 121.26-carat white rock from its Cullinan mine in South Africa.The gem is a Type II diamond "of exceptional colour and clarity", the company said, and is "an outstanding example of the large, high quality diamonds for which the mine is known."The 121.26-carat white diamond, along wit...Read More

Rio Tinto to boot iron ore chief in fresh management shake-up

Jun. 21, 2016, 4:03 AM / Cecilia Jamasmie

Rio Tinto's iron ore will now focus only on the firm's operations in the Pilbara region of Western Australia. Image of the Paraburdoo operation, in the Pilbara, courtesy of Rio Tinto)Ten days before officially assuming as the new chief executive officer of Rio Tinto (ASX, LON:RIO), Jean-Sbastien Jacques has begun making major changes at the top level in an effort to improve the company's balance s...Read More

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