Diamond Mining News

Fifth-largest gem quality diamond in history sold for $40 million

Gem Diamonds found the 910-carat diamond, named "The Lesotho Legend," in January.

Newfield acquires Stellar Diamonds for $23.6 million

Under the deal, Newfield will lend Stellar $3 million to help it over its immediate short-term cash needs, while undertaking a right issue to raise A$30 million (roughly $23.6m) to re-finance the blended company.

South African diamond provides new clues on Earth's internal processes

A mineral usually found at depths of 700 km found ensconced within diamond near Earth’s surface for the first time.

Beny Steinmetz's mining firm BSGR enters administration to protect itself

As well as facing legal action, BSGR, which denies any wrong-doing, is suing financier George Soros for $10 billion in damages over lost contracts.

Gem Diamonds on fire, finds sixth giant rock this year

Latest discovery is a 152-carat, top white colour Type IIa diamond, dug up at the company's flagship Letšeng mine in Lesotho.

Diamond-backed raffle for “world’s most expensive dinner” canceled

The experience would include $17,000 diamond chopsticks and an 18-course dinner prepared by the Michelin-starred team from Jaan.

Villagers denounce irregular operations by the Zimbabwe Consolidated Diamond Company

They say diamonds have become a curse instead of a blessing for those living in the Mutare West region.

ALROSA rough diamond reserves grew to almost 1.2 billion carats in 2017

Total diamond reserves, taking into account the explored deposits under the National Reserves Committee standards, increased by 57.8 million carats during the year.

De Beers rough diamond sales for Cycle 2, 2018

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the second sales cycle of 2018.

Global diamond supply expected to decrease this year

Paul Zimnisky, an independent diamond industry analyst, estimates supply will fall 3.4% to 147 million carats.

Thirty-three illegal miners arrested at abandoned site in South Africa

According to the Chamber of Mines of South Africa, illegal miners in the country usually belong to organised crime syndicates.

Stellar Diamonds mulls takeover offer as losses deepen

Miner posted a net loss of $984,928, compared to a $663,145 loss a year earlier, due to an increase in costs of developing its Tongo-Tonguma diamond project in eastern Sierra Leone.

Lucapa fetches $1.7 million in diamond sales from Lulo

Figures takes proceeds from Lulo diamonds sales so far this year to $10.8 million, at an average price per carat of $1,731.

Angola offers former dos Santos diamond rights to investors

Angola is one of the world’s top 5 diamond producers, but much of the territory remains under-explored due to 27 years of civil war.

Stellar Diamonds Sierra Leone project takes key step forward

Funding for the project has not been secure yet, though the miner is in talks with Newfield Resources over a possible offer.

Venezuelan government defends Mining Arc, environmentalists say it’s not working

Very few of the 150 companies who expressed interest in investing in the Mining Arc actually presented concrete offers.

Lucara Diamond names new CEO, invests in digital sales platform

Together with naming new top execs. the Canadian miner is acquiring Clara Diamond Solutions, which uses blockchain technology to trace diamonds as they move through the supply chain.

5 record breaking gemstones even billionaires can't buy

The global economy is booming and demand for precious jewels, particularly colored gemstones, has never been higher.

Zimbabwe resumes diamond sales, expects to auction 1.56 million carats

A test sale was conducted and, according to the Minister of Mines, it was a total success.

De Beers diamond output to peak this year thanks to Gahcho Kue

The unit of Anglo American intends to mine as much as 36 million carats this year, up from 33.5 million in 2017.

Anglo American 'shows off' — doubles profits, halves debt, pays highest divvy in a decade

Company became the latest top miner to report soaring profits, hefty dividends and lighter debt burden.

Canada the world's overall top mining destination, despite Saskatchewan fall

That's considering the combined rankings of all its provinces and territories, but Finland is the most attractive jurisdiction this year.

Apple in talks to buy cobalt directly from miners — report

Electronics and car makers are racing to lock in supply agreements for cobalt amid fears of shortage.

Petra Diamonds' first-half core earnings fall 8%

Petra was hurt mainly by a strike at its South Africa operations and the blocking of a consignment of diamonds in Tanzania.

ALROSA determines the winner of "She said "YES!" contest

A young man from Moscow has become a winner. His name and the idea will remain a secret not to ruin the surprise for his dearie. He will receive a diamond ring as a reward to translate the wish into reality. ALROSA plans to follow the developments and shoot a video based on the winner's script with participation of real characters.