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Grib mine Lukoil
Grib Diamond Mine Sold for $1.5B
Lukoil has agreed to sell its Grib diamond project toRussian investment group Otkritie Holding for $1.45 billion in cash. The deal is expected to close in the firstquarter of 2017 following government approval, the companies announced...
Mining Dec 04, 2016 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
After the U.S. market hit a record on Black Friday, retail stocks fell as early holiday sales data pointed to a shift away from physical stores to online shopping. Charles & Colvard (-11.4%), Macy's (-6%) and...
Financial-Legal Dec 01, 2016 Rapaport News
Alrosa sorter
ALROSA Tests Small Rough at Vladivostok
ALROSA garnered $5 million from its second sale of roughdiamonds at the recently opened Eurasian Diamond Centre (EDC) in Vladivostok.Held from November 21 to 25, the sale featured average andsmaller-sized goods, including industrial diamonds, the Russian...
Mining Dec 01, 2016 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Battles to Save Lace Mine
A business rescue practitioner has begun talks with stakeholders in the Lace Diamond Mine (LDM) as parent company DiamondCorp continues to assess the financial viability of the troubled South African operation. Daniel Terblanche, the appointed...
Mining Nov 30, 2016 Rapaport News
Lucapa Lulo large diamond
Lucapa Secures Angola Exploration Permit
Lucapa Diamond Company said it received a license to exploreat the Lulo Diamond Project in Angola for another five years.Angola’s Minister of Mines andGeology FranciscoManuel Monteiro de Queirozsigned off the approval, which applies to the entire 3,000...
Mining Nov 28, 2016 Rapaport News
Saxendrift Rockwell
Two Diamond Mines for Sale in South Africa
Rockwell Diamonds has put two of its diamond assets on the selling block in an attempt to lift the company from its state of despair. The junior miner said it started a process to sell theRemhoogte/Holsloot and Saxendrift mines...
Mining Nov 27, 2016 Rapaport News
ALROSA rough sorter
Cautious ALROSA Targets Steady Rough Prices
ALROSA pledged to keep rough diamond prices relatively stable in the short term evenafter demand recovered this year, as the company looks to support manufacturers’profit margins.“The current market priority is to maintain healthymidstream margins. So, at the...
Rough Markets Nov 27, 2016 Rapaport News
Matt Manson
Indian Liquidity Stress Impacts First Renard Sale
The first sale of roughdiamonds from the Renard mine in Canada garnered $7.6 million, even as smallerstones were withdrawn because of a lack of liquidityin India, owner Stornoway Diamond Corporation reported.The company sold 38,913 carats for...
Mining Nov 24, 2016 Rapaport News
zharkov
ALROSA Turns a Profit in 3Q
ALROSA swung to a profit in the third quarter driven bysignificantly higher rough diamond demand from last year.Total revenue from diamond sales climbed 83 percent to $982.2million (RUB 63.02 billion), boosted by a 91 percent rise in revenue to Belgiumand...
Mining Nov 21, 2016 Rapaport News
Venezuela
Kimberley Process Re-Admits Venezuela
Venezuela will recommence exports of rough diamonds asmembers of the Kimberley Process (KP) unanimously agreed to end the nation’seight-year absence.Delegates approved the South American country’s re-admissionat the KP plenary in Dubai last week, Venezuela’s Mining...
Fair Trade Nov 20, 2016 Rapaport News
Ekati Diamond
Fire Sparks Sales Slump at Dominion
Dominion Diamond Corporation said revenue slumped in thethird fiscal quarter as a fire at the Ekati mine in June reduced the value ofrough diamonds available for sale.Sales dived 29 percent to $102.7 million in the three monthsthat ended...
Mining Nov 20, 2016 Rapaport News
renard
Stornoway Swings to Loss in 3Q
Stornoway Diamond Corporation recorded a loss of $11.5million (CAD 15.5 million) in the third quarter due to a derivatives losswithin its expenses category.“Total other expenses” came to $8.9 million (CAD 12 million)in the three months that ended...
Mining Nov 16, 2016 Rapaport News
rockwell
Rockwell Names CFO to Assist in Restructuring
Rockwell Diamonds said Patrick Cooke has been appointed chieffinancial officer as the southern Africa-focused miner undergoes a strategicreview and restructuring.Cooke will be expected to help the company handle “historical legacy issues,” start up productionat the...
Mining Nov 14, 2016 Rapaport News
Diavik Foxfire Rio Tinto
Smithsonian to Showcase Diavik Foxfire
Canada’s largest rough diamond is set to go on display atthe Smithsonian National Museum of Natural History in Washington D.C.The 187.7-carat Diavik Foxfire will appear alongside thefamous Hope diamond in the Harry Winston Gallery from November 17 to February16....
Rough Markets Nov 14, 2016 Rapaport News
Gahcho Kue
Mountain Province Cuts Quarterly Loss
Mountain Province Diamonds narrowed its loss in the third quarter ahead of its first sale of production from the Gahcho Kué mine in Canada.The miner reported a net loss of $4 million (CAD 5.4 million) inthe three...
Mining Nov 13, 2016 Rapaport News
Letseng Mine
Letšeng Prices Fall as Large Stone Supply Stumbles
The average selling price at the high-value Letšeng mine in Lesotho fell inthe third quarter because of lower sales of 100-carat-plus stones, owner Gem Diamonds said.The miner sold 37,990 carats from Letšeng for a total...
Mining Nov 10, 2016 Rapaport News
Lace mine
DiamondCorp No Longer Up For Sale
DiamondCorp shelved plans for a sale or merger, after rejectingoffers that it deemed undervalued the company.The company terminated a formal sale process after turningdown a cash takeover bid. The developmentcomes after DiamondCorp said last month...
Mining Nov 09, 2016 Rapaport News
Jwaneng operation
S&P Maintains Negative Outlook for Botswana
Standard & Poor’s affirmed Botswana's credit rating andgave the country a negative outlook, reflecting the risksover the next 12 to 18 months if the current diamond-sector slumpproves more structural than cyclical in nature.The agency said it maintained...
Mining Oct 31, 2016 Rapaport News
rockwell
Rockwell Records Loss as Sales Slide
Rockwell Diamonds swung to a loss with revenue slumping in the second fiscal quarter, as mining grades and diamond prices fell.Sales dived 36 percent to $10 million (CAD 13.4 million) in the three months that ended August...
Mining Oct 31, 2016 Rapaport News
Trans Hex Operation
Wiese Gets Go-Ahead for Trans Hex Takeover
Trans Hex Group said the takeover offer for the South Africa-based diamond miner has been declared unconditional after competition authorities approved the deal October 26.Cream Magenta and Metcap, both of which...
Mining Oct 31, 2016 Rapaport News
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