Rapaport says the model should guarantee that government diamond revenue provides vital infrastructure to the communities where the diamonds are found.
Diamond Mining News
The updated inferred mineral resource at Faraday 2 highlights 5.45 million carats of diamonds, a hefty 74% increase over its 2017 estimate.
The Montreal-based diamond producer said the move would not have an impact on total revenue for 2019.
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.
The Riivos-built mining financial technology software helps them spend less time building spreadsheet models and more time optimizing their mine project economics.
It's the second one over 70-carat Firestone has found at its Liqhobong mine this year.
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.
Fundraising by unlisted funds for investment in natural resource reached a record $93 billion last year.
The WDC believes that initiatives such as the peace process in the Central African Republic boost fairness in the artisanal mining sector.
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.
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.
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.
The company has already located three diamondiferous bodies – White, Black and Grey Wolf – and three kimberlite dykes.
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.
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?
The world's biggest producer of rough diamonds in carat terms raised $11.8m in its first New York diamond auction this year.
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.
The discovery comes less than a month after Petra found a 100.83 carat gem-quality diamond at the same mine.
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.
The Africa-focused diamond miner said current market conditions didn't support expansion project at the Lesotho 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.
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.
The Diagras property covers 22,595 hectares with a total of 23 known kimberlites on trend with the Diavik mine.
During a 5-day experiment, the company extracted 239 diamonds larger than 8 carats.
The diamond miner said the appointment of a new chair was "not appropriate" at this time.