Weak demand takes shine off Petra Diamonds revenue

The company's Renard mine rescue team won all the awards at the 57th Quebec Provincial Mines Rescue Competition.

Lucara, which has recovered two of the largest diamonds in recent history, is turning to technology to ensure growth in an industry where new mine acquisitions remain elusive.

Mined diamonds are less carbon-intensive than man-made, but their producers should use more green energy, according to a study.

The Canadian company is taking on industry giants such as De Beers and Alrosa PJSC with an online platform to replace the current physical auctions.

Production dropped 6% in the quarter.

Recent mergers and acquisitions have brought the industry back into the spotlight, after years of speculation around how the sector could regain power, PwC's Canadian Mine report notes.

The 1,758-carat diamond is larger than a tennis ball and weighs close to 352 grams (12.42 ounces).

Alrosa's sales in the first quarter fell 38 percent from a year earlier to $988 million.

Ernst & Young’s Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — rose 5% fin the January-March period.