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Michael Hill (+11%) gained on strong sales results, while BlueNile (+10%) and Charles & Colvard (+19%) both enjoyed strong weeks despitethe Dow Jones index falling 0.5%. Share prices were recorded before...
Financial-Legal Aug 25, 2016 Rapaport News
William Lamb
Lucara Invests to Improve Small Diamond Recovery
Lucara Diamond Corp. will increase the use of X-raytechnology (XRT) to target smaller size diamonds, after usingthe equipment to successfully recover exceptional stones such as the 1,109-carat Lesedi LaRona.The company will introduce four new...
Mining Aug 24, 2016 Rapaport News
Stellar Tongo mine Sierra Leone
Stellar, Octea to Merge Sierra Leone Diamond Mines
Stellar Diamonds and Octea Mining agreed to combine theirSierra Leone projects to create the second largest diamond-mining operation inWest Africa.Under the proposed deal, Stellar plans to amalgamate itsTongo kimberlite project with Octea’s adjacent...
Mining Aug 22, 2016 Rapaport News
Rio Tinto Bunder India
Rio Tinto Abandons Indian Diamond Mining Project
Rio Tinto has terminated its Bunder diamond mining projectin India, the company confirmed to Rapaport News.The venture in the central Indian state of Madhya Pradeshwas tipped as the first significant diamond mine in India and...
Mining Aug 21, 2016 Rapaport News
Dominion Diamond Corporation
Dominion Signs Up M&A Expert
Dominion Diamond Corporation appointed former De Beersexecutive Tim Dabson as a director. The Canada-based miner also addedmergers and acquisition (M&A) specialist Trudy Curran to its board.Dabson spent 33 years at De Beers in several roles, mostrecently as executive director...
Mining Aug 18, 2016 Rapaport News
Former De  Beers CEO Gareth Penny
Ex-De Beers CEO Joins Pangolin Diamonds
Former De Beers chief executive officer Gareth Penny hasjoined diamond exploration company Pangolin Diamonds Corp. as non-executivechairman.Penny (pictured) left De Beersin 2010, after having steered the companyduring his final 5 years out of 22 he spent at the...
Mining Aug 18, 2016 Rapaport News
Letseng Mine
Gem Diamonds Slides to 1H Loss
Gem Diamonds swung to a loss in the first half due to an impairment charge related to downsizing operations at the Ghaghoo mine in Botswana. The miner reported a loss of $15.9 million in the six monthsthat ended June 30 versus a profit...
Mining Aug 17, 2016 Rapaport News
Ellendale Mine
Top Exec at Kimberley Diamonds Quits
Kimberley Diamonds’ executive director Rod Sainty resignedfrom the miner’s board, effective Tuesday.Sainty was one of three directors who were sued for $17million by liquidators at the Australian insolvency firm Jirsch Sutherlandover allegations, including...
Mining Aug 16, 2016 Rapaport News
Gahcho Kue
First Gahcho Kué Diamond Sale Slated for 4Q
Mountain Province Diamonds confirmed the first sale of roughfrom its Gahcho Kué mine is expected to be held in the fourth quarter.Initial sales will be of “pre-commercial” production, a termfor the mine’s output until it achieves 70 percent of capacity. Sales...
Mining Aug 15, 2016 Rapaport News
Anton Siluanov, chairman of ALROSA
Russia’s Finance Minister Reelected ALROSA Chair
Russia’s finance minister Anton Siluanov (pictured) was reelected chairmanof ALROSA at the mining company’s annual general meeting on August 5.Yegor Borisov, head of the Republic of Sakha, also knownas Yakutia, will continue as first vice...
Mining Aug 11, 2016 Rapaport News
Argyle Mine
Rio Tinto Diamond Sales Rise
RioTinto’s revenue from diamonds increased in the first half of 2016 but earningsslumped amid a weaker Asian market and mixed trends in rough prices.Rough salesclimbed 3.3 percent to $342 million, while net earnings slid 29 percent...
Mining Aug 03, 2016 Rapaport News
Lace mine
Operations Commence at Lace Diamond Mine
Mining resumedat DiamondCorp’s Lace mine in South Africa after operations were stopped whilegovernment investigated an incident that injured a worker.A miner'sassistant suffered contusions and four cracked ribs when explosive misfireswere being made safe....
Mining Jul 27, 2016 Rapaport News
Diamcor Earnings Fall Deeper Into the Red
Diamcor Mining widened its loss in fiscal 2016 as higheroperating expenses at its flagship mining project in South Africa outweighed a surgein revenue.Total comprehensive loss soared 80 percent to $4.3 million(CAD 5.6 million) in the 12 months that ended...
Mining Jul 26, 2016 Rapaport News
Finsch Mine
Petra Sales Rise Despite Depressed Prices
Petra Diamonds’ revenue climbed in fiscal year 2016 as increasedsales by volume outweighed a drop in rough prices.Revenue rose 1.4 percent to $430.9 million in the 12 monthsthat ended June 30, Petra reported. Diamond sales by weight jumped 8.8...
Mining Jul 25, 2016 Rapaport News
small ice road
De Beers Selling Unprofitable Snap Lake Mine
De Beers has put the Snap Lake diamond mine in Canada up for sale after operations were suspended in December, Reuters reported.The miner has hired Bank of Montreal to market the mine inthe Northwest Territories, the...
Mining Jul 24, 2016 Rapaport News
Firestone Diamonds Plans First Sale in January
Firestone Diamonds said it expects to host its first sale of rough in January as construction at the Liqhobong mine in Lesotho continues ahead of schedule. Development of the mine was 85 percent complete at the end of June, ahead of a revised target...
Mining Jul 20, 2016 Rapaport News
Stornoway Raises $63M Ahead of Renard Production
Stornoway Diamond Corporation raised $63.3 million (CAD 82.7 million) after shareholders exercised their rights to purchase warrants as the company readies to launch production at its Renard Project. The funds will be used to complete construction...
Mining Jul 13, 2016 Rapaport News
Alrosa Zarnitsa diamond
ALROSA Names Diamond 'Children of Asia'
ALROSA christened a 207.29-carat diamond after the Childrenof Asia International Sports Games that are held once every four years inthe Republic of Yakutia.The gem-quality rough measures 38 х 37 х 18 millimeters and is the largest tobe discovered...
Mining Jul 11, 2016 Rapaport News
Kimberley Mine Petra Ekapa
Petra, Ekapa Combine Kimberley Operations
Petra Diamonds and Ekapa Mining agreed to merge theiroperations in South Africa's Kimberley region in a bid to extend mining in thehistoric diamond-mining area.As part of the deal Petra’s Kimberley Underground mines,Ekapa’s tailings operations, the Kimberley Miners...
Mining Jul 10, 2016 Rapaport News
Ekati Mine
Dominion Gets Go-Ahead for Ekati Extension
Dominion Diamond Corporation received approval from its board to proceed with the Jay projectin Canada.The project is “the most significant undeveloped kimberlitepipe deposit” at the Ekati mine in the Northwest Territories and will extend...
Mining Jul 07, 2016 Rapaport News
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