Gemfields Hit by Shock 15% Export Tax on Emeralds
Gemfields is reeling from the shock imposition of a 15 per cent export duty on the emeralds it mines in Zambia.
mining
New method could simplify detection of diamond deposits
Geologists from ETH Zurich and the University of Melbourne have established a link between diamond occurrence and the mineral olivine. In a paper published in the journal Nature Communications, the scientists explain that their method will simplify the detection of diamond deposits. The process relies on the chemical composition of kimberlites, which occur only on … Read more
Debswana annual diamond sales jump 64%
Sales of rough diamonds by Debswana Diamond Company jumped 64% in 2021, statistics released by the Bank of Botswana showed on Monday, driven by the reopening of key global consumer markets. The total value of Debswana’s diamond exports stood at $3.466 billion in 2021 compared with $2.120 billion in 2020, the central bank data showed. … Read more
Kimberley Process to Hold Hybrid Plenary Meeting
The annual Kimberley Process (KP) plenary will take place online and in person from November 8 to 12, with the digitization of certificates featuring at the top of the agenda. The hybrid format enables the KP to continue its activities despite the restrictions resulting from the coronavirus pandemic, Russia’s Finance Ministry, which is chairing the … Read more
Petra Diamonds mulls selling Williamson mine
South Africa’s Petra Diamonds is considering selling its Williamson mine in Tanzania, even as it continues to work on bringing the operation back online in the second half of 2021. Delivering its year-end results, Petra said that Williamson had been classified as a discontinued operation, which will mean an accounting loss of $52.1 million for … Read more
Lucara Secures $220M in Financing to Take Mine Underground
Lucara Diamond Corp. said it has secured $220 million in financing to help take the Karowe Mine in Botswana underground and extend its life by about 20 years. Karowe is responsible for producing some of the most significant diamonds recovered in recent years, including the 1,109-carat “Lesedi La Rona,” which Graff bought for $53 million, … Read more
Alrosa to Sell 242ct. Rough Diamond
Alrosa will auction a 242.31-carat diamond in Dubai later this month, one of the largest gem-quality rough stones the Russian miner has unearthed in the past decade, it said Friday. The opening price will be in excess of $2 million. The March 22 sale will mark Alrosa’s 100th large-diamond auction. The company rarely trades Russian-mined … Read more
Lucapa’s Lulo diamonds fetch US$5.9 million
Lucapa Diamond Company and its partners have announced the results of the first diamond sale of 2021 by Sociedade Mineria Do Lulo (SML) from its Lulo alluvial mine in Angola. The rough diamond parcel of 4,273 carats was sold for a total of US$5.9 million (A$7.7 million) or US$1,375 (A$1,793) per carat. Lucapa MD, Stephen … Read more
Lucara recovers 341 carat white diamond
Canada’s Lucara Diamond has found an unbroken 341-carat white gem-quality rock at its prolific Karowe mine in Botswana, with analysts estimating it could fetch more than $10 million. The Vancouver based miner said the diamond was recovered over the Christmas period from milling of ore coming from the south western quadrant of Karowe’s South Lobe. … Read more
Petra Diamonds’ investors back restructuring
Struggling Petra Diamonds (LON: PDL) said on Wednesday its investors have approved plans to restructure the business, a move that aims to provide the miner with a more stable, deleveraged capital structure to ensure its short and long-term viability. Over 95% of shareholders voted in favour of a resolution that includes reducing authorized share capital … Read more