Diamond Mining News

Rapaport proposes diamond industry optimization plan to government of Sierra Leone

Rapaport says the model should guarantee that government diamond revenue provides vital infrastructure to the communities where the diamonds are found.

Mountain Province stock takes off on 74% diamond resource increase

The updated inferred mineral resource at Faraday 2 highlights 5.45 million carats of diamonds, a hefty 74% increase over its 2017 estimate.

Stornoway Diamond halts open pit operations at Quebec mine

The Montreal-based diamond producer said the move would not have an impact on total revenue for 2019.

De Beers diamond sales hit highest level since mid-2018

The world’s top diamond producer by value sold  $575 million in its third sales cycle of this year, the highest since the fifth cycle of 2018, when it recorded $581 million.

Mining students learn to develop feasibility studies using high-tech solution

The Riivos-built mining financial technology software helps them spend less time building spreadsheet models and more time optimizing their mine project economics.

Firestone finds another massive diamond at Lesotho mine

It's the second one over 70-carat Firestone has found at its Liqhobong mine this year.

Investor sentiment in diamond mining stocks makes for a contrarian play

Natural diamond supply is estimated to come off this year and continue to incrementally decline through at least 2021, which should be supportive of diamond prices and thus miners.

$6 billion private capital ready to invest in mining

Fundraising by unlisted funds for investment in natural resource reached a record $93 billion last year.

World Diamond Council advocates for Africa's artisanal diamond miners at international forum

The WDC believes that initiatives such as the peace process in the Central African Republic boost fairness in the artisanal mining sector.

Hunt for Canada's vast diamond riches reaching an end

Iconic mines, including Ekati and Diavik are now old, tired and running out of diamonds; they will likely both close soon. So far, operations that were designed to replace them aren’t faring well either.

Botswana Diamonds finishes drilling at Thorny River project

Next step is obtaining necessary regulatory approvals to start bulk sampling at the South African project, which is expected during the second quarter of the year.

Lucapa Diamond cuts debt related to building Mothae mine

The diamond producer has inked deals with New Azilian and Equigold, following the delivery and de-risking of the Lesotho-based mine, which began commercial production in December.

Arctic Star looks for kimberlite at Timantti project

The company has already located three diamondiferous bodies – White, Black and Grey Wolf – and three kimberlite dykes.

Jewelers must disclose whether diamonds are mined or synthetic — FTC

The Diamond Producers Association, which represents mining companies like De Beers, Rio Tinto and Alrosa, welcomed the FTC insistence that companies distinguish between diamonds that are mined and those that are made in laboratories.

Cannabis mania mows down Canada’s junior mining sector

There is enough evidence to conclude that risk capital has found a new home, a BDO report shows. The question now is, how and where will junior miners find the capital needed to sustain their businesses?

Russia's Alrosa raises $11.8m in New York diamond sale

The world's biggest producer of rough diamonds in carat terms raised $11.8m in its first New York diamond auction this year.

Polish looking for ‘Nazi Gold Train” finds another kind of treasure

Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance portraits.

Petra Diamonds shares jump on 425-carat discovery at Cullinan

The discovery comes less than a month after Petra found a 100.83 carat gem-quality diamond at the same mine.

Stornoway finishes year with revenue down, losses up

Total net loss for 2018 was $329.4m or $0.39 per share, compared to a net loss in 2017 of $114.2m or $0.14 per share.

Firestone Diamonds halts Liqhobong mine expansion plans, limits losses

The Africa-focused diamond miner said current market conditions didn't support expansion project at the Lesotho mine.

Last kimberlite trucked to plant at De Beers Victor mine

The Victor mine was forecast to produce 6 million carats over its life, but it beat that by recovering a total of 8 million carats, with a record 936,000 carats produced in 2018.

Hong Kong firm develops tech to detect lab-grown yellow diamonds

The Diamond Natural Device is reportedly the first tech system capable of identifying the yellowish gems together with the colourless to near-colourless range of diamonds.

Arctic Star starts work at Diagras property

The Diagras property covers 22,595 hectares with a total of 23 known kimberlites on trend with the Diavik mine.

Alrosa says Verkhne-Munskoye deposit is more prolific than previously thought

During a 5-day experiment, the company extracted 239 diamonds larger than 8 carats.

Petra Diamonds keeps founder Pouroulis as chairman

The diamond miner said the appointment of a new chair was "not appropriate" at this time.