Diamond exploration company Botswana Diamonds has been granted four new prospecting licenses, covering nearly 2,332 km² in the Kalahari region of Botswana. These licenses are located in the same general area as Gem Diamonds’ Ghaghoo mine and Botswana Diamonds’ own KX36 project. “I am pleased that we have been awarded these prospecting licenses in the Kalahari of Botswana, which we believe will be the next major diamond-producing area in the country,” said John Teeling, Chairperson
Revenue from the Ekati mine’s rough diamond output soared by 70% in the first fiscal quarter, according to Burgundy Diamond Mines, the mine’s owner. The company reported sales of 1.3 million carats from the Canadian deposit, totaling $117 million for the period ending March 31. This is a significant increase compared to the sale of 798,199 carats for $69 million during the same period last year. The average price per carat rose by 3.5% to
Petra Diamonds’ rough prices decreased at its latest tender as it noted seasonal weakness across all size categories. The sixth trading session, which took place in May, brought in $44 million from the sale of 371,104 carats, while like-for-like prices slipped 2.6% versus April, the miner reported last week. The sales value was down 11% from April’s $49 million but up 4.8% from the equivalent tender in May 2023. Sales volume increased 2% from April
The Extractive Industry Transparency Initiative (EITI) is set to evaluate Angola again in October, marking a crucial step in certifying members’ compliance with transparency standards. According to Beatriz Catomi, Deputy Director of the National Secretariat for the Implementation of the EITI, the second evaluation report will be released in September, a month ahead of the evaluation process. Catomi made these remarks yesterday during the opening of a seminar in Luanda, aimed at informing stakeholders about
Independent diamond miner Petra Diamonds reported $44 million in revenue from its sixth tender cycle for the 2024 financial year, selling 371,000 carats. CEO Richard Duffy noted that like-for-like prices were down 2.6% from Tender 5, reflecting a seasonally quiet period with muted demand due to Indian holidays and the slow recovery of the Chinese market. “We continue to see evidence of market stabilization and are cautiously optimistic that demand and pricing will improve towards
Anglo American is exploring an initial public offering (IPO) of its diamond business, De Beers, with London being the preferred venue, according to sources familiar with the matter. These discussions are still in early stages, and the individuals spoke on condition of anonymity due to the private nature of the plans. The potential listing was revealed as Anglo American announced its broader strategy for a possible break-up through a demerger or sale of some assets.
De Beers’ parent company intends to sell the diamond miner as part of a strategy to unlock “significant” value in its businesses. The move forms part of major structural changes that will simplify the Anglo American portfolio and deliver growth, it said Tuesday. Plans will see De Beers being “divested or demerged, to improve strategic flexibility for both De Beers and Anglo American,” the company clarified. Anglo is exploring a range of options to separate
Phillips sold a pink diamond for $12 million at its second Geneva jewelry auction, which also saw two records set for a fancy-red. The 6.21-carat, fancy-vivid-pink, VS1-clarity, type IIa diamond ring was the leading lot at the May 13 Geneva Jewels Auction: Two, Phillips said Tuesday. The total, which amounted to $1.9 million per carat, fell within its presale estimate. Another item that performed well was the Argyle Phoenix, a 1.56-carat, fancy-red diamond ring. The
Lucapa Diamonds has announced plans to divest its 70% interest in the Mothae mine, located in Lesotho. This decision follows a comprehensive review of the company’s asset portfolio by its newly restructured board of directors. Chairperson Stuart Brown explained that the company aims to streamline its portfolio to concentrate on core assets in Africa and Australia. Lucapa’s primary focus will now be on its 60% interest in the Lulo mine in Angola and the Merlin
Angola is participating in the Interim Meeting of the Kimberley Process, which started yesterday in Dubai, United Arab Emirates. Running until May 17, the meeting will address proposals for administrative decisions, ongoing reviews, reforms of the Kimberley Process, and rough diamond traceability. A statement highlights that key discussions will focus on the initiation of the Kimberley Process’s permanent secretariat activities. Other critical agenda items include defining “Conflict Diamond,” implementing co-Presidency and co-Vice-Presidency roles in the
