Diamond Mining News

CDE announce distribution agreement for Africa with Pilot Crushtec

CDE have announced the addition of Pilot Crushtec to their global distributor network with responsibility for South Africaand sub-SaharanAfrica. Pilot Crushtec will promote the full range of CDE washing equipment including the Evowash sand washing plant, Prograde screens, M2500 mobile washing plant, Rotomax logwashers and Aquacycle thickeners.

Journal of Commerce: Prince Albert, Saskatchewan diamond mine may go ahead

Shore Gold Inc. could be one step closer to opening Canada's next diamond mine, according to a story published in the Journal of Commerce.

CNBC: Zimbabwe state media says diamonds will pay raises

Zimbabwe's state media has reported that the state mining corporation says it is paying government employee raises this month with revenues from controversy-mired diamond fields in eastern Zimbabwe.

Canada makes a deal a day as mining M&A head towards $200 billion

The value of mergers and acquisitions in the mining sector more than doubled to $96.3 billion in the first six months of the year and could top $200 billion for the whole of 2011 says a new research report. Canadian companies – both as acquirers and as the targets of buyers – dominated corporate finance activity in the first half shaking on more than a deal a day and at 325 deals accounting for almost two-thirds of all the metals and minerals transactions carried out around the world.

Strikes hit BHP, Anglo, De Beers and Xstrata across three continents

Bloomberg reports BHP workers in Chile voted Sunday to extend their strike at the world’s largest copper mine. Stoppages at BHP’s Australian coal operations may resume this week. Thirty thousand South African coal mine workers including Anglo American and Xstrata employees walked off the job Sunday and may be joined by 160,000 gold industry workers. Strikes that started over the weekend are impacting output from mines of diamond giant De Beers. Workers are seeking a larger slice as global producers report record earnings: Melbourne-based BHP, the world’s biggest mining company, is expected to report full-year profits of $22.5 billion next month, almost double 2010’s net income. Xstrata may report record 2011 profit of $7.3 billion and Anglo American $7.4 billion, estimates show.

Namibia's diamond sector exempt from planned mining tax hike

Namibia's Ministry of Finance has announced plans to raise its mining tax by 17 percent, though the increase will not apply to the diamond sector. The ministry said in a statement that the mining tax will be raised from 37.4 percent to 44 percent

Zimbabwe government rejects all 175 foreign miners' empowerment plans

The government of Zimbabwe has rejected all 175 of the empowerment proposals submitted by foreign-owned mining companies operating in the country, threatening to "kick them out" if the don't revise the plans, according to SW Radio Africa. The

DBCM faces workers' strike over wage disputes

Members of South Africa's National Union of Mineworkers (NUM) employed by De Beers Consolidated Mines (DBCM) began striking on Friday evening after wage talks between the two parties failed earlier in the week. Eighty percent of the company's workers are

Sea Diamonds Keep Hytec Busy

HYTEC Cape Town has recently been awarded a large contract by De Beers Marine Namibia for the refurbishment of the mining system hydraulics on one of the mining giant’s offshore mining vessels.

Rio Tinto diamond project in India 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 2010-2011 Sitaram Rungta Social Awareness Award is conferred by the Federation of Indian

Selling gold: How much that old ring is worth now

Yvette Shirey left a jewelry store near her home in Columbia, Md. Wednesday afternoon $1,000 richer. After seeing gold prices soar earlier in the week, Shirey decided to sell a "muffin-sized" mound of old gold jewelry, including a necklace, some earrings and a bracelet she inherited from her mother.

Canadian exploration and deposit expenditure expected to increase

Canada’s mining industry continues to rally from the recent global recession, with this year’s production currently exceeding that of 2010, reports government department Natural Resources Canada (NRCan).

Lucara to list in Botswana

Mining Weekly reports that Canadian diamond company, Lucara (CVE:LUC) will list on the Botswana exchange.

De Beer's SA workers start strike

South African National Union of Mineworkers' members at diamond producer De Beers Consolidated Mines started a strike on Friday after wage talks failed, a union spokesman said. The union wants a 15 percent rise in wages, while De Beers is offering 7.5 percent and a once off payment of 2,500 rand ($367).

Namibia plans to raise mining tax from 37.5% to 44%, diamonds exempt

Namibia plans to raise its mining tax to 44 percent from 37.5 percent but said the hike will not apply to diamond mining companies, the ministry of finance said in a statement on Friday. The ministry said the country is facing volatility in its key revenue sources and is looking to strengthen revenue collection.

Commodities rise after Greek plan details emerge

Financial markets — including commodities — surged after details from the highly-anticipated EU Summit were released. Germany's demand that private investors be a part of any Greek bailout, which will likely be considered a partial default by ratings agencies, seems to have been met.

Metalex recovers largest diamond yet from U2 kimberlite

Metalex Ventures Ltd. (TSXV : MTX) is pleased to report that a 2.61 carat white gem quality diamond has been recovered from the exceedingly large, 9.3 hectare, U2 kimberlite pipe on the Metalex - Arctic Star Diamond Corp. (TSXV : ADD) joint venture in the James Bay lowlands, Ontario.

Diamond workers in pay talks

WAGE talks with the world's largest diamond producer De Beers will get under way on Wednesday, the National Union of Mineworkers said. Talks would be held with a facilitator from the CCMA, spokesman Lesiba Seshoka said in a statement. The diamond giant

Diamond workers strike adds to South Africa mining woes

Employees of diamond mining company De Beers are set to go on strike on Friday after wage talks broke down on Wednesday. The workers follow tens of thousands of others in South Africa's coal, metals and petroleum industries who have been on strike for weeks. The strikes come at a time when the country's mining output is slowing and new investment in the industry is drying up amid uncertainty about state ownership, taxation, an ever-changing regulatory environment and corruption. A recent ranking of top global mining investment destinations that puts Alberta at the top relegates South Africa to number 63 alongside Zimbabwe, Guatamala and Venezuela.

Jewelry making propels gold demand in China India

Rising appetite for Gold jewelry among households and investors in China and India is driving the global demand for the yellow metal, says a study conducted by the Dubai Multi-Commodities Centre (DMCC). China and India—two largest gold consuming nations in the world—have been driving gold demand in the world in the last few years.

BHP Billitons diamond production falls in past year

BHP Billiton’s diamond production suffered a double-digit d rop in the fiscal year, the miner reported on Wednesday. The company mined 2,506,000 carats, an 18% year-over-year drop.

Fear and loathing on the road to ethics

The Responsible Jewellery Council (RJC) is developing a new certification standard for Chain of Custody (CoC). The intentions are good, but seem to irk the diamond industry, which is why I want to bring the issue to the table.

Canada stocks gain on strong commodities

Strong metal and oil stocks lift the TSX Composite Index Tuesday as the loonie rallies on expectations of eventual rate hike.

Branded gold jewellery: Tier II Tier III towns in India to drive growth'

India based credit rating agency CRISIL believes that Tier-II and Tier-III towns in India will drive growth for the branded Gold jewellery retailers over the medium term. Around two-thirds of the new outlets that these retailers set up over the medium term will be in such small towns.

Cautious response to sight in India, premiums expected to shrink

The Indian diamond industry’s reaction to the latest DTC Sight has been guarded. Business sentiment has been depressed over the last several days in the wake of the bomb blasts that rocked the city and claimed the lives of several diamond industry pr...