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ALROSA Sees Stronger Sales, Lower Inventory in 1Q
ALROSAreported revenue and profit surged in the first quarter as the rough diamond marketimproved from last year’s slump. Revenuejumped 37 percent to $1.56 billion (RUB 102.34 billion) in the three months toMarch 31 and profit more...
Mining May 31, 2016 Rapaport News
Philippe Mellier
Philippe Mellier Resigns as De Beers CEO
Philippe Mellier stepped down as chiefexecutive officer of De Beers with Bruce Cleaver appointed to replace him, thecompany announced Friday.Mellier decided to leave thediamond miner five years after joining fromFrench transport group Alstom and will...
Mining May 29, 2016 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Anglo American (+13%) led U.K.-based mining stocks this past week on news of strong sales at the fourth De Beers sight of the year. In the U.S., retail stocks were generally higher, headed by Walmart (+12%), with...
Financial-Legal May 26, 2016 Rapaport News
Ekati Underground
Dominion’s Sales Decline 5% in 1Q
Dominion Diamond Corporation reported a slower pace of declinein quarterly revenue after last year’s slump as rough prices picked up duringthe first three months of the fiscal year.Sales fell 5 percent to $178.3 million in the first fiscalquarter...
Mining May 26, 2016 Rapaport News
Alrosa Zarnitsa diamond
ALROSA Finds Largest Diamond in Zarnitsa's History
ALROSA discovered a 207.29-carat rough diamond at itsZarnitsa mine in the Russian republic of Yakutia.The gem-quality diamond measuring 38 х 37 х 18 millimetersis the largest found since open-pit mining started at the Zarnitsa pipe in1999. As yet unnamed, the stone...
Mining May 25, 2016 Rapaport News
Gemfields emeralds
Gemfields’ Lower-Quality Emeralds Hit New Price Record
Gemfields announced a new record average price for itslower-quality gemstones sold at an auction of rough emeralds in India lastweek.The miner said it sold 2.78 million carats of gems extractedfrom its Kagem mine in Zambia for $14.3 million,...
Gemstones May 23, 2016 Rapaport News
Western Athabasca Basin, Saskatchewan - Athabasca
De Beers to Invest in Canada Exploration
De Beers said it will spend up to $15.6 million (CAD 20.4million) on hunting for diamonds in an underexplored part of the Canadianprovince of Saskatchewan.The miner entered into an agreement wih CanAlaska, a companythat has staked claims to kimberlite-style targets in the NorthwesternAthabasca...
Polished Markets May 22, 2016 Rapaport News
Diavik Mine
Rio Tinto’s Diavik Mine Hits 100M Ct. Mark
Rio Tinto reached a milestone of producing 100 millioncarats from its Diavik diamond mine in Canada since operations began in 2003.The Diavik pit is located on an island in a remotesub-arctic lake in Northwest Territories and produces gem-quality diamonds thatare...
Mining May 18, 2016 Rapaport News
Gem Diamonds' Letšeng Sales Leap
Gem Diamonds reported revenue from its Letšeng mine inLesotho rose in the first three tenders of the year.Sales jumped13 percent to $87.8 million compared with the first three tenders last year.Volume sold surged...
Mining May 17, 2016 Rapaport News
Philippe Mellier
De Beers and Namibia Strike Long-Term Deal
De Beers and Namibia signed a 10-year salesagreement – their longest pact ever – that will “significantly increase” thequantity of rough diamonds made available for beneficiation.The deal for sorting, valuing and sales ofdiamonds from Namdeb,...
Mining May 17, 2016 Rapaport News
Lucapa Lulo large diamond
Lucapa Unveils $7M Investment in Lulo Mine
Lucapa Diamond Company announced a $7 million upgrade and developmentplan for its Lulo program in Angola.The commitment includes new Caterpillar earth-movingequipment, vehicles for alluvial diamond mining and kimberlite explorationprograms and camp upgrades. The...
Mining May 16, 2016 Rapaport News
ALROSA’s Diamond Reserves Jump 8%
ALROSA’s diamond reserves rose asthe miner reported a higher evaluation of its Mir and International pipes.Reserves grew 8 percent to 658million carats as at January 1 compared with the previous valuation in July2013, ALROSA said. The evaluation was...
Mining May 16, 2016 Rapaport News
Gope, Botswana
Botswana Diamonds to Start Drilling at PL 186
BotswanaDiamonds will begin drilling in an area within the Gope mine that holds a highpotential for diamond discoveries.The programwill start “shortly” at PL 186, part of the Maibwe (Brightstone) block oflicences in the Gope region of Botswana. The...
Mining May 11, 2016 Rapaport News
Lucara 813 carats
Lucara Sells 813ct. Rough Diamond for Record Price
Lucara Diamond Corp. broke a world record for the sale of arough diamond as an 812.77-carat stone from its Karowe mine in Botswana fetched$63.1 million. Dubai-based Nemesis International DMCC paid $77,649 percarat for the rights...
Rough Markets May 09, 2016 Rapaport News
Botswana Diamonds
Botswana Diamonds Raises $722K for Orapa Project
BotswanaDiamonds sold shares for $721,500 (GBP 500,000) to fund ongoing diamond exploration at its jointproject withALROSA and for additional working capital.The companyplaced 33.3 million ordinary shares, or 9.9 percent of its share capital, withnew...
Mining May 08, 2016 Rapaport News
DiamondCorp Says Worst is Behind Rough Market
The rough diamondmarket has seen the worst of its troubles, according to DiamondCorp chairmanEuan Worthington.“Early indications in 2016 are thatthere has been some stabilization in prices for polished stones as inventoriesare being drawn,” said Worthington....
Mining May 05, 2016 Rapaport News
Gemfields Sells Emeralds at Record Average Price in Zambia Auction
Gemfields achieved a record average price for“higher-quality” rough emerald at an auction in Lusaka, Zambia.The miner sold 470,000 carats for an average of $70.68 percarat at the sale in Lusaka, which ran from March 30 to April 3. Total revenue generatedwas...
Gemstones May 05, 2016 Rapaport News
Botswana Flag
S&P Lowers Botswana’s Outlook as Diamond Slump Hits Growth
Standard & Poor’s (S&P) cut its outlook for Botswanato negative on concern a slump in the diamond industry could be structuralrather than cyclical.The country is highly exposed to the performance of the diamondsector as it represents just under a third...
Rough Markets May 01, 2016 Rapaport News
De Beers Mining Area 1 Namibia
De Beers Reduces 1Q Output by 10%
De Beers diamond production slid 10 percent to 6.9 millioncarats in the first quarter as the miner reduced output in response to marketconditions.Production from Debswana, a joint venture with the Botswanangovernment, fell 5 percent to 5.3 million carats in the three...
Mining Apr 21, 2016 Rapaport News
Pangolin Diamonds
Pangolin Raises Funds Via Private Placement to Continue Botswana Exploration
Pangolin Diamonds closed a private placement to finance the continuationof its exploration program at the Malatswae project in Botswana this year.The proceeds of $547,535 (CAD 693,453) will also provide workingcapital to further its exploration commitments at its...
Mining Apr 20, 2016 Rapaport News
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