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110-ct Alrosa diamond_July 2017
Alrosa Unearths Two Large Diamonds
Alrosa discovered two extraordinarily large rough diamonds this month at its processing plants in the Russian republic of Yakutia, the company reported.On July 18, a diamond weighing almost 110 carats (pictured below) was recovered...
Mining Jul 20, 2017 Rapaport News
Lucapa Closes in on London Listing
Lucapa Diamond Company plans to obtain a stock-exchangelisting in London by the end of the year as it aims to lure key investors forits mining operations.Managers have visited London to make presentations topotential investors and outline development plans for...
Mining Jul 19, 2017 Rapaport News
Tjaart Willemse Rockwell
Rockwell CEO Quits as Business Rescue Continues
Rockwell Diamonds CEO Tjaart Willemse has resigned amid anongoing business-rescue process at the South Africa-focused miner.The company hired Willemse (pictured) last September to deal with the“crises” emanating from legal actions brought by mining...
Mining Jul 19, 2017 Rapaport News
Argyle mine rio Tinto
Rain at Argyle Dampens Rio Tinto’s Diamond Offering
Rio Tinto’s rough-diamond output declined 2% to 4.3 millioncarats in the second quarter as wet weather restricted production levels at theArgyle mine.Output from the mine in Western Australia fell 8% to 3.2million carats compared to the corresponding period last...
Mining Jul 19, 2017 Rapaport News
Anton Siluanov, chairman of ALROSA
Alrosa Backs Russian Minister as Chairman
Alrosa’s board has re-elected Russian finance minister andeconomist Anton Siluanov as chairman for a third term, the miner announced last week.The board also selected Yegor Borisov, head of the Republicof Yakutia, as first deputy...
Mining Jul 17, 2017 Rapaport News
Rapaport Diamond Industry Stock Tracker
US retail stocks weakened this past week, with Macy’s (-9.7%) and Movado Group (-8.3%) recording the heaviest slides as Amazon’s continued dominance extended the low morale in the brick-and-mortar sector. Indian stocks slipped, led by Lypsa Gems (-18%), as investors feared the impact of the new...
Financial-Legal Jul 13, 2017 Rapaport News
Alrosa Udachny mine
Alrosa Sees Stable June Rough Market
Alrosa sold $365 million worth of diamonds last month amid asteady rough market, the Russian miner reported Monday.Revenue for June included $354.4 million from rough salesand $10.6 million from polished, the...
Mining Jul 11, 2017 Rapaport News
Diamcor production
Diamcor 1Q Sales Decline
Diamcor Mining’s rough-diamond revenue fell 3% to $1.9million in the first fiscal quarter due to a drop in sales volume.The company, which sources rough from its Krone-Endora atVenetia mining project in South Africa, saw sales by weight slide...
Mining Jul 11, 2017 Rapaport News
Global Witness CAR cartoon
CAR Claims Diamond Smuggling Slowing
The Central African Republic (CAR) defended itself recently againstallegations that dealers were smuggling rough diamonds out of the country usingsocial media, arguing that the phenomenon was becoming less common.A report by Global...
Rough Markets Jul 10, 2017 Rapaport News
Alrosa snow truck mine
Alrosa Gets Improved Rating from S&P
Standard & Poor’s (S&P) raised its credit ratingfor Alrosa, predicting the Russian miner would withstand potential threats suchas pressure on rough-diamond prices and volatility inherent to the industry. The agency’s long-term corporate...
Mining Jul 09, 2017 Rapaport News
Gem Diamonds Letseng 126ct rough diamond
Letšeng Yields 126ct. Rough Diamond
Gem Diamonds has recovered a “high-quality” rough diamond weighing 126 carats at its Letšeng mine, following a switch to a more lucrative section of the project in Lesotho, the company reported Thursday.The D-color, type-IIa stone is the latest...
Mining Jul 06, 2017 Rapaport News
Lulo Lucapa rough diamonds
Lulo Sees Double-Digit Sales Growth
Rough-diamond sales from the Lulo mine in Angola rose 58% inthe second quarter, reaching $4.8 million, owner Lucapa Diamond Companyreported Wednesday.First-half sales slumped 41% to $15.4 million, partly because in the same period...
Mining Jul 05, 2017 Rapaport News
rough diamonds
Diamond Production Value Down Last Year
Global rough-diamond production fell by value for the secondconsecutive year as output declined in the two largest producer countries, according to data the Kimberley Process (KP) released Tuesday.The total value of rough diamonds extracted in 2016...
Mining Jul 04, 2017 Rapaport News
Sergey Ivanov ALROSA
New Boss Looks to Streamline Alrosa
Alrosa’s new president is planning a cost-reduction programthat is likely to include job cuts as he seeks to make the operation more efficientand easier to run, the rough-diamond producer said.The Russian miner is “facing changes in the administrativestaff with a view...
Mining Jul 04, 2017 Rapaport News
Alrosa mine trucks
Alrosa Mulls Raising Output Target
Alrosa may increase its sales and production forecasts forthis year following strong rough-diamond demand in the first five months,particularly from Indian buyers, the company said.Manufacturers’ resurgent appetite for rough helped the...
Mining Jul 03, 2017 Rapaport News
Finsch Mine
Petra Warns Sales Set to Fall Short
Petra Diamonds has lowered its sales and production forecastfor the current fiscal year, as an expansion of its operations has taken longerthan expected.The South Africa-focused miner’s rough-diamond output willbe 8% to 9% below its projection of 4.4...
Mining Jun 28, 2017 Rapaport News
Firestone Ups Liqhobong Production Forecast
Firestone Diamonds has raised its production outlook for theLiqhobong mine to 360,000 carats for the fiscal year ending June 30.Operations at the Lesotho-based project, which the company initially predicted would produce 300,000...
Mining Jun 25, 2017 Rapaport News
Buyers at Gemfields Auction
Battle for Gemfields Heats Up
Pallinghurst Resources has upped the ante in the bidding warfor Gemfields by lowering the number of shareholder acceptances it needs forits offer to acquire the gemstone miner.Pallinghurst dropped the “acceptance condition” to 60% from75% following discussions...
Gemstones Jun 21, 2017 Rapaport News
Gemfields rough emerald 140
Gemfields Reluctantly Bows to Fosun Takeover Bid
Gemfields’ management has recommended shareholders accept a $323.8 million (GBP 256million) takeover offer from China’s Fosun Gold, describing it as a betteroption than an earlier proposal by Pallinghurst Resources.Gemfields’ independent committee still considers the Fosunoffer to be unfair...
Gemstones Jun 20, 2017 Rapaport News
De Beers Namibian rough diamonds
Rough Prices Firm at $530M De Beers Sight
De Beers sold $530 million worth of rough diamonds in June as sightholders continued to complain of shrinking manufacturing marginsand a mismatch between rough and polished prices.The miner lifted prices by an estimated 2% to 3% in certaincategories, sightholders told Rapaport News. Higher...
Rough Markets Jun 20, 2017 Joshua Freedman
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