Diamond Mining News

Report: threat of army takeover looms large in Zimbabwe

Neighbour South Africa's influential Business Day reports as Zimbabwe’s shaky unity government inches ahead with extensive electoral reforms ahead of fresh elections now expected next year, the prospect of the country’s army seizing power looms large. In recent weeks, the military’s top brass has taken on a visible role in the country’s political affairs and has been brazenly opposed to security sector reforms. The military seized control of Zimbabwe's rich diamond fields in Chiadzwa in 2006 and most observers believe an international ban on these gems are being widely flouted.

UPDATE 1-Harry Winston Q2 diamond output up on higher grades

Diamond miner and retailer Harry Winston posted a 4 percent rise in ore processed in the second quarter, helped by the recovery of higher grades, and the company will hold three rough diamond sales by the end of July.

Diavik's Q2 Production 1.79M Carats, Prices Rise ~8% in a Month

Diavik produced 1.79 million carats in the second quarter of 2011, 11% more than it produced in the same period of 2010, Harry Winston Diamond reports.

Fairfax Market Report including Goldplat, Ncondezi Coal and Paragon Diamonds

Morning View The QE3 debate is firmly back on the table. • The prospect of a third round of stimulus has pushed gold prices to a record high. • Stalling debt talks in the US add support to gold. • European concerns appear to

U.S. Rough Imports Grows to $70M

The U.S. imported $70.1 worth of rough diamonds in May, according to the Dept. of Commerce, growing 14.1% from May 2010 and by 97.1% compared to April 2011.

Blasts jolt Surat diamond industry

The blasts in Opera House, Zaveri Bazar and Dadar resulted in deaths and critical injury for many employed in the flourishing diamond trade industry.

India's bullion street rocked by bomb blasts

MUMBAI, India (Commodity Online): India's most prominent Gold street has been hit by bombs. Three bombs rocked the gold and diamond hubs of Mumbai, India's sprawling commercial capital on Wednesday killing 21 and injuring around 100 people. A little

Industry Responds with Shock to Mumbai Attacks and Casualties

The heads of the global diamond industry are expressing sorrow and sending their condolences to Mumbai following the Wednesday's terrorist attacks. The attacks cost the lives of nearly 20 people, some of them from the diamond industry.

Rio Tinto H1 Diamond Production Declines 26%,

Multi-commodity miner Rio Tinto is reporting a continued decline in diamond production. In the second quarter of the year it mined 2,733,000 carats, a 24% decline compared to the prior year, the company said Thursday. It expects to end the year with a ...

Redpath awarded first incline sand drift contract in Africa, for diamonds

Redpath South Africa has been awarded a first-of-its-kind incline tunnelling contract in Africa, thanks to the company’s innovative and cost-effective approach to the project.

Sierra Leone’s Diamond and Gold Shipments Rise in May, Central Bank Says

Bloomberg reported that gold exports from Sierra Leone are up 25%.

Mumbai Polished Market Shows Signs of Cooling

The Mumbai polished diamond market is showing some signs of cooling down after the burst of activity and strong prices prior to the Hong Kong show. One of the reasons for the current situation is liquidity concerns.

U.S. Imports Record $2.5 Billion of Polished in May

The U.S. imported $2.52 billion worth of polished diamonds in May, a record high level of monthly polished imports for the country. The imports, shooting up by 56% year over year, highlight growing retail demand.

GGL Resources sampling program for Northwest Territories diamonds under way

Vancouver's GGL Resources Corp. announced on Tuesday Rio Tinto Exploration Canada Inc. (formerly, Kennecott Canada Exploration Inc.) has notified GGL that it is planning to budget approximately $650,000 for diamond exploration on the CH Project claims. The CH Project Area is located some 250 kilometers north of Yellowknife in the Northwest Territories (NT) of Canada.  The Property lies within an area measuring 60 km east-west by 80 km north-south, and begins 30 km west of the Diavik Diamond Mine.

Network Alliance implements major Riverbed solution for Namakwa Diamonds

Network Alliance, a specialist IT and network solutions provider for small and medium enterprises, has announced the successful completion of the South African phase of its first major Riverbed project.

Rio Tinto diamond project wins social awareness award

Rio Tinto has received an award for its significant work in building social capacity in communities surrounding its developing Bunder diamond project in India, the miner reported Monday.

Carpentaria Exploration Limited announce a $3.5 million budget to boost exploration projects

Carpentaria Exploration Limited today announces a plus A$3.5 million budget for greenfields exploration in the 2011/12 financial year, continuing its aggressive exploration programs across eastern Australia

Rio Tinto Diamond Project Wins Social Awareness Award

Rio Tinto has received an award for its significant work in building social capacity in communities surrounding its developing Bunder diamond project in India, the miner reported Monday.

Ontario Mace Makes Historic Home Mine Visit

The ceremonial mace from the Ontario Legislature came full circle recently when it visited the De Beers Canada Victor Mine in northern Ontario, the place where the two diamonds set in the mace were mined. The mace was on display during the mine's shift...

Impure diamonds make perfect computers

Diamonds have the potential to act as building blocks for quantum computing. In an article published in Nature Physics last month, a group of researchers found that the nitrogen vacancy centre in a diamond can be used for quantum memory. The paper was published by the Center for Spintronics and Quantum Computation, University of California, Santa Barbara, California; and the Department of Physics, University of Konstanz. Researchers named were G. D. Fuchs, P. V. Klimov, and D. D. Awschalom.

Namibia's diamond production slides 9%

Namibia's diamond in the first five months of 2011 totaled 528,333 carats, declining 8.9% compared to last year, according to Ministry of Mines and Energy figures released by broking firm IJG on Friday and quoted by Reuters.

William and Kate visit Yellowknife, get Diavik diamonds

Polar bears were the theme of the diamond jewelry items presented to the Duke and Duchess of Cambridge during their visit to Canada's Northwest Territories. The newlyweds received a set of diamond pave cufflinks modeled after the polar bear logo of the NWT Government, and a diamond pave brooch also in the shape of the North's iconic bear.

Diamond prices bounce back, tempt investors

Reuters reports that diamond prices are now above pre-crisis levels after a 35 to 40 percent rise so far this year. De Beers’ Executive Director, Stephen Lussier says, Diamonds are more scarce than before the crisis. And there are three markets where demand is very strong: China, India and the United States.

Latin American Minerals signs Option Agreement with Olivut Resources for development of Itapoty Diamond Project

Latin American Minerals Inc. (TSX VENTURE:LAT) announced that on July 5, 2011, it signed a definitive Option Agreement for the potential earn-in and joint venture development of the Company's Itapoty Diamond Project by Olivut Resources Ltd (TSX VENTURE:OLV). Olivut is a Canadian diamond exploration company focused on projects in the NWT, Canada and in Uruguay, South America. The Itapoty Diamond Project is one of several exploration and mining projects being developed by Latin American Minerals in Paraguay.

Lucara secures $50m to complete Botswana Diamond Project

Mining Weekly reports Lucara Diamond Corporation (CVE:LUC) has raised $50-million in debt for two gem projects. The market news is quoted as saying, Lucara said it had concluded that the debenture, which matures at the end of 2013, provided the best value to shareholders. The company will make quarterly repayments, and no interest is payable during the facility’s term, though Lucara will pay the lenders nine-million shares instead.