Diamond Mining News and Commentary

De Beers leading efforts to rescue illegal miners at abandoned mine

MINING.com News | May 23, 2012

De Beers on Wednesday launched rescue efforts for diggers who have been trapped after an illegally excavated tunnel collapsed in the diamond giant's abandoned Namaqualand mining area.

Mbada Diamonds produces 12 million carats

Newswire | May 22, 2012

Mbada Diamonds has produced almost 12 million carats worth half a billion dollars over the past one-and-half years after injecting total investments of only $185 million, Parliament was told yesterday.
Diamond-seller Choksi takes on world with Bollywood

Bloomberg | May 22, 2012

Mehul Choksi sees his jewelry business one day joining LVMH Moet Hennessy Louis Vuitton SA (MC) and Cartier among the biggest names in luxury goods. Choksi is chairman and managing director of Gitanjali Gems Ltd. (GITG), India’s biggest diamond and gold-jewelry retailer by sales.
Diamond miner Rockwell completes strategic projects at Saxendrift

MINING.com Editor | May 22, 2012

Canadian Rockwell Diamonds (TSX: RDI) implemented a new in-field screen and a bulk x-ray and single particle sorter plant at its Saxendrift diamond mine. These two strategic projects were the first capital expenses approved by the company's board for implementation by the new management team.
The right cut: Dreams made of diamonds

Montreal Gazette | May 22, 2012

The Montreal Gazette interviews Gevorg Mkhitaryan, owner of a small diamond polishing operation, who was part of a group of about 60 Armenian diamond cutters and polishers brought to the Northwest Territories to work in Canada's Yellowknife’s nascent diamond processing industry.
DiamondCorp agrees on a $33.6 million loan deal with South Africa’s IDC

Cecilia Jamasmie | May 22, 2012

African DiamondCorp (LON:DCP) said its 74% owned Lace Diamond Mines, the company's primary asset in South Africa, has entered into a loan funding term sheet with the Industrial Development Corporation of South Africa Limited (IDC), the company announced Monday.
Rio Tinto donates $12 million biggest pink diamond to a museum

Cecilia Jamasmie | May 22, 2012

London-based diversified miner Rio Tinto (LON & NYSE:RIO) is donating the biggest pink rough diamond ever discovered, found earlier this year at its Argyle mine, to an Australian museum in Melbourne, reports The West.
Is post-Taylor diamond mining in Sierra Leone clean?

MINING.com News | May 21, 2012

Charles Taylor, was convicted in April of war crimes for arming Sierra Leone's rebels in return for blood diamonds. Taylor is now awaiting sentencing and the BBC tries to find out if mining in the country is now “clean”.
Alrosa not planning major investment in Timir iron ore project

Steel Guru | May 20, 2012

Interfax cited Mr Igor Kulichik Russian diamond miner vice president and financial director as saying that Alrosa is not planning major investments in the near term in the Timir iron ore project in Yakutia a 51% stake in which it is selling to steelmaker Evraz Group.
Junior resource investment in a financial meltdown – the Good, the Bad and the Ugly

Mineweb | May 19, 2012

Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!
Graff Diamonds IPO should catapult the diamond king up the billionaires list

Frik Els | May 18, 2012

Laurence Graff, the undisputed king of uber-expensive diamonds, will earn a tidy $290 million windfall when he restructures his Mayfair-based company and will vastly boost his paper wealth when Graff Diamonds lists in Hong Kong for as much as $4 billion.
Man passes 1.7 carat diamond

Michael Allan McCrae | May 17, 2012

A 52-year-old man detained in a dry cell at a police station in Windsor, Ont., while they wait for him to give up a $20,000 diamond, has finally passed the stone. He is accused of swallowing the diamond last week.
WDC Honors Oppenheimer

IDEX Online | May 17, 2012

The World Diamond Council has paid a special tribute to De Beers Chairman Nicky Oppenheimer at a gala dinner in Vicenza, Italy.
Trans Hex to return to profit as production grows

Mining Weekly | May 15, 2012

Diamond miner Trans Hex said on Tuesday it expected a net profit of about R208-million for the twelve months ended March, compared with a loss of R45.1-million the previous year.
Lucara Diamond Corp. reports first quarter results

MINING.com Editor | May 15, 2012

Lucara Diamond Corp. (TSX:LUC,NASDAQ:LUC) announced production results for the quarter ended March 2012.
Zimbabwe Government: No going back on mining fees

Cecilia Jamasmie | May 15, 2012

The government of Zimbabwe said the new mining licence fees gazetted in January will not be reversed despite calls by the mining industry for the levies to be reduced.
Panel discussion at JCK to address 'Diamonds for Good' in Africa

CNW Telbec | Mining/Metals | May 15, 2012

Millennial-age consumers—the generation comprising the primary bridal jewelry market—are both far more conscious of social responsibility than previous generations, and far more demanding that the companies they do business with behave responsibly and give back.
Renowned diamonds add sparkle to Queen’s jubilee celebrations

Cecilia Jamasmie | May 15, 2012

Photographers were allowed to look today at some of the most famous diamonds in the world to go on public display at the end of June, as part of the Queen's Diamond Jubilee celebrations.
Diamond prices seen up in 2012 on sparkling demand

Reuters | May 15, 2012

Prices of rough diamonds are expected to rise this year after a turbulent 2011, driven by recovering consumer demand in the United States and a robust appetite for the gems in Asia, the head of the World Diamond Council (WDC) told Reuters on Monday.
Firestone Diamonds recovered three large rocks at Lesotho mine

Cecilia Jamasmie | May 14, 2012

Junior miner Firestone Diamonds announced today it has found three large diamonds at its Liqhobong mine in Lesotho and that first quarter production at the location was looking up.
Kimberley Process executive calls to redefine concept of conflict diamond

Cecilia Jamasmie | May 14, 2012

Kimberley Process leader Gillian Milovanovic has proposed a new definition of conflict diamonds to include acts of violence during his presentation at the opening of the 8th World Diamond Council (WDC) meeting in Vicenza, Italy.
The commodity megatrend

Stephan Bogner, Rockstone Research Ltd | May 10, 2012

Commodities have experienced a renaissance after the bursting of the internet bubble at the end of the 20thcentury. The new and long-term upward trend began with most commodities in late 1990s and already lasts nearly 15 years. During this time, most commodity prices manifold strongly.
'Martian Pink' diamond expected to fetch more than $8 million

Cecilia Jamasmie | May 8, 2012

"Martian Pink," the biggest pink diamond ever to appear at an auction, is expected to fetch more than $8 million dollars when it is sold at Christie's Magnificent Jewels Spring Sale on May 29 in Hong Kong, reports KeycTV.
New online diamond exchange – DIAMDAX is launched

MINING.com Editor | May 8, 2012

The Antwerp World Diamond Centre (AWDC) and DODAQ have launched a new global online exchange for polished diamonds called DIAMDAX (Diamond Dealers Automated Exchange).
Graff Diamonds tests demand for Hong Kong IPO

Wall Street Journal Online | May 8, 2012

London-based high-end jeweler Graff Diamonds started premarketing its Hong Kong initial public offering Monday, people familiar with the situation said, testing demand for a deal meant to raise as much as US$1 billion.
Lucara Diamond Corp gets ready to auction rocks from its new Botswana mine

MINING.com Editor | May 8, 2012

Canadian diamond producer Lucara Diamond Corp announced today that production from its recently inaugurated Karowe mine in Botswana could be available for sale in June.