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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
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
The major mining companies lost ground with Anglo American(-11.9%) leading the slump. Rio Tinto posted a double-digit decline, whilePetra Diamonds fell despite its positive trading report. Far East retailwas mixed with...
Financial-Legal Apr 27, 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
Diavik Diamond Mine, Courtesy: Diavik Diamond Mine
Rio Tinto’s 1Q Diamond Output Jumps as Diavik Production Surges
Underground mining at the Diavik mine in Canada's Northwest Territories Rio Tinto reported first-quarter diamondproduction jumped 10 percent as output from its Diavik mine surged because ofhigher mining rates and availability of a bigger ore stockpile....
Mining Apr 19, 2016 Rapaport News
Dominion 140x95
Dominion Swings to Loss in Fiscal 2016 as Subdued Diamond Market Cuts Sales
Dominion Diamond Corporation declared a net loss in fiscal2016 as a weaker diamond market coupled with lower gem prices that persistedthroughout the year cut revenue from its two Canadian mines.The company recorded a $38.8 million...
Mining Apr 14, 2016 Rapaport News
Alrosa rough
India Plans Diamond-Mine Auction Debut
India is set to auction off a diamond mine for the firsttime, according to a Reuters report that cited India’s mines secretaryBalvinder Kumar.The Indian state of Madhya Pradesh in the center of thecountry plans to float tenders for the...
Mining Apr 10, 2016 Rapaport News
Ellendale Mine
‘Standard for Responsible Mining’ Expected Late 2016
The Initiative for Responsible Mining Assurance (IRMA) hasreleased a second draft of the “first-ever” global standards for mine sites, aimingto emulate programs introduced by other sectors such as agriculture andfisheries.IRMA is seeking feedback on the draft...
Mining Apr 10, 2016 Rapaport News
Tango Firestone BK11 mine Botswana
Tango Granted Leeway to Fund Botswana BK11 Diamond Mine
BK11 mine, Botswana Tango Mining, a Canada-based company that primarily operatesin southern Africa, received an extension of a deadline to meet all conditionsfor its acquisition of Firestone Diamonds' Botswana operations.Tango agreed to acquire the BK11 Kimberlite Diamond...
Mining Apr 10, 2016 Rapaport News
Kennady Diamonds Hires New CEO to Replace Founder
Kennady Diamonds has appointed Rory Moore as its presidentand chief executive officer, effective May 1. Moore is a former CEO of MineralServices Group of Companies and Canabrava Diamond Corp.He replaces Patrick Evans, who has led the...
Mining Apr 07, 2016 Rapaport News
Star-Orion South Project, Shore Gold
Shore Gold’s Loss Trebles on Higher Diamond Exploration Spend
Star-Orion South Project, Canada Shore Gold more than trebled its loss last year on higher exploration and evaluation costs related to the Star-Orion South Diamond Project in Canada.The loss of$7.1 million (CAD 9.1...
Mining Mar 31, 2016 Rapaport News
Tango Firestone BK11 mine Botswana
Tango Gets $30M Loan to Complete Botswana Mine Deal
BK11 mine, Botswana Tango Mining has secured a $30 million loan that will fund thedelayed acquisition of a mine in Botswana from Firestone Diamonds after beinggranted an extension to raise funds for the purchase.This follows Tango...
Mining Mar 30, 2016 Rapaport News
Lucapa Lulo diamond 68.1 carats
Lucapa Discovers 68-Carat Diamond at Angola Mine
Lucapa Diamond Company found yet another large diamond, weighing68.1 carats, at its Lulo mine in Angola, providing further evidence the site isat the “heart of a large diamond province.” The type-IIa,D-color gem is one of eight...
Mining Mar 30, 2016 Rapaport News
stellar diamonds
Stellar Diamonds Narrows 1H Loss as Costs Slashed 29%
Stellar Diamonds, a West Africa-focused exploration anddevelopment company, lowered its loss by 5.2 percent in its first fiscal half bycutting costs.The company narrowed its loss to $886,463 in the six monthsto December 31 from $934,928 a year...
Mining Mar 30, 2016 Rapaport News
Chinese Firms ‘Show Interest’ in Buying Russian Assets such as ALROSA
Chinese companies are showing interest in buying Russian stateassets such as ALROSA as the government privatizes some of the nation’s largestpublicly owned businesses, news agency TASS reported.“Generallythe interest is there,” the Russian news service cited...
Financial-Legal Mar 29, 2016 Rapaport News
Botswana Diamonds
Botswana Diamonds Kicks Off Orapa Exploration, Reports $388M Loss
Botswana Diamonds widened its loss in the first half of itscurrent fiscal year, thecompany said, as it kicked off its exploration project in Botswana with partnerALROSA.The loss grewto $388.4 million (GBP 274 million) in the six...
Mining Mar 28, 2016 Rapaport News
Stornoway’s Renard Mine Set for Commercial Production This Year
Stornoway Diamond Corporation has brought forward plans forthe Renard mine in Canada, with commercial production now expected to start byDecember 31.Thisrepresents a five-month improvement on a previous schedule, the diamondexploration and development company said in a statement...
Mining Mar 28, 2016 Rapaport News
ALROSA Launches in Vladivostok to Target China Market
ALROSA will open a branch in the Russian city ofVladivostok, near the country’s border with China, in a bid to increase salesto Asia-Pacific nations and improve cooperation with companies in the region.The launch, approved bythe miner’s...
Mining Mar 27, 2016 Rapaport News
CAR Central African Republic
KP Clarifies Position on Central African Republic Diamond Exports
The office of the Kimberley Process (KP) chair has clarifiedreports of a deal to resume diamond exports from the Central African Republic(CAR). Earlier inMarch, Joseph Agbo, CAR’s minister of mines, met with Viken Arslanian, an executive...
Fair Trade Mar 23, 2016 Rapaport News
ALROSA Keeps Rough Prices Unchanged at March Sale
ALROSA held rough prices stable for the sixth month runningat its March contract sale as demand for the miner’s goods remained strong.“ALROSA has not changed the prices for rough diamonds at theMarch...
Rough Markets Mar 22, 2016 Rapaport News
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