Diamond Mining News

Canada’s diamond staking rush favours early entrants

It’s the glittering lure of a possible multi-billion dollar diamond discovery that’s lighting up northern Saskatchewan.

China snaps up $4.5bn worth of overseas mining assets in just six months

Most of them have been after existing operations and companies, rather than trying to build mines from scratch.

Petra Diamonds results beat expectations on strong sales, production

Output rose 16% to 3.7 million carats, which puts Petra on track to hit its long term annual target of 5 million carats in 2018, a year earlier than planned.

Snap Lake diamond mine is for sale

De Beers underground mine in Canada's arctic, shuttered since December, cost $1.7 billion to build and operate and never turned a profit.

Fresh wave of Chinese firms to go after Congo’s riches — report

Faced with declining domestic production, China's top copper company — Minmetals — said earlier this year that the "only solution” was going overseas, and many are following its steps.

Dominion Diamond stock apathetic amid significant production ramp

This was supposed to be a key year for Dominion, especially with the commencement of mining at the company’s rich Misery Main pipe at its Ekati mine.

Heavy snowfall in Chile forces Anglo to cut annual copper target

Shares plunged after miner revealed that output fell almost across the board in the April – June period.

Lucara announces special dividend of $172m

Lucara is still trying to sell the second-largest diamond ever discovered.

Mick Davis to overhaul X2 Resources as fund fails to close any mining deal

Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.

Botswana to keep unprofitable copper miner alive just to save jobs

The government will maintain 1.4 billion pula ($130 million) of annual spending on state-owned BCL for now.

Peregrine Diamonds to focus on $95 million all-weather road before moving ahead with Nunavut mine

The Chidliak mine, in Canada’s Nunavut, is expected to produce around 12 million carats during its 10-year lifespan.

Diamond giant Alrosa unearths massive 214.65-carat rock

It measures 42.11 by 34.26 by 16.07 mm, and is translucent with a grey hue.

Million-dollar coin unveiled

Kimberley Treasure coin was struck by The Perth Mint from one kilogram of 99.99 per cent pure gold, and features an image of a red kangaroo holding a 0.54 carat red gemstone between its front paws.

Gold price rally helps producers climb world’s top 25 mining companies list

Study shows there are more bullion miners among higher market capital ranking of mining companies in second quarter of 2016 than a year a go.

Russia gets $813m for stake in diamond company Alrosa

The sum obtained after selling 10.9% of the state-controlled diamond producer will be used to cut budget deficit, the government said.

De Beers Canada moves from Toronto to Calgary

The move comes as the company readies to open what it calls the world’s biggest diamond mine currently under construction.

Dominion Diamond to go ahead with Ekati mine expansion

Developing the Jay pipe will help keeping the mine in production until 2033.

Illegal gold trade in Congo still benefiting armed groups, foreign companies

Illegally acquired and exported gold from the mineral-rich eastern Congo keeps filling the pockets of some foreign companies as well as armed groups, a new report shows.

More than 300 workers at risk of temporary layoffs at Ekati diamond mine

More than 300 Dominion Diamond employees and contract workers are at risk of being laid off at the Ekati diamond mine after a fire at the mine's processing plant on June 23.

Petra sells 121.2- carat diamond for $6 million

It was found at Petra's Cullinan mine in South Africa, which has yielded several massive gems, including the largest rough gem diamond ever discovered.

Botswana’s economy needs more than diamonds to shine

The history of the diamond industry in Africa has been fraught with worker exploitation, environmental destruction, government corruption and squandering of revenues.

Alrosa gets own security force

Diamond giant will save Russian state millions each year when it takes over security duties at remote mines.

ALROSA to establish own security service

PJSC ALROSA, the world leader in diamond mining, has announced that it was authorized to establish a departmental security service to protect the Company's production facilities.

Despite the hype world’s second-largest diamond ever found fails to sell

Canada's Lucara Diamond, the company that found the massive gem, said it will keep it as bids fell short of the minimum reserve price.

KP Chair visits Angola and South Africa

Part of his continuing Africa Initiative.