Petra Diamonds’ rough prices decreased at its latest tender, as smaller goods experienced seasonal weakness. The fifth trading session, which took place in April, brought in $49 million from the sale of 362,132 carats, while like-for-like prices slipped 1% versus February, the miner reported Tuesday. Of the total, $8.2 million came from the sale of a 14.76-carat, blue diamond from the Cullinan mine in South Africa. The sales value was up 3% from February’s $48 million and
Production at Rio Tinto’s Diavik mine in Canada slid in the first quarter after the miner halted production to allow workers to grieve for colleagues who died in a plane crash. Output fell 22% year on year to 740,000 carats for the three months that ended March 31, Rio Tinto said Tuesday. However, production was 12% higher than the previous quarter, during which the miner closed two kimberlite pipes and produced lower-grade ore. The company
Debswana,the leading rough diamonds producer continues to set the trend in diversity and progressive leadership appointments. The 50/50 De Beers – Botswana joint venture has appointed top Engineer Ms. Keene Nkoane as the first female Senior Engineering Manager inthe history of the company. She is based at Orapa Letlhakane and Damtshaa Mines (OLDM). Nkoane joined Debswana in 2003 based in Jwaneng Mine following her completion of BEng (Hons) in Electrical & Electronic from Nottingham University,
In a significant announcement, José Manuel Augusto Ganga Júnior, President of the Board of Directors of the National Diamond Company (ENDIAMA), unveiled plans for a groundbreaking feasibility study aimed at tapping into Angola’s untapped oceanic resources, including diamonds and other valuable minerals. The revelation came during a high-profile event in Luanda, underscoring Angola’s commitment to diversifying its mining sector and harnessing its rich natural resources. Addressing reporters at the “Albina Assis” auditorium of the Ministry
Benedito Manuel, the General Director of Sociedade Mineira de Catoca, recently highlighted the significance of the Luele mine project in the province of Lunda Sul. He emphasized that it’s an ENDIAMA initiative, with Angolan managers from Catoca leading the entire process, from discovery to mine layout. In an interview with EXPANSÃO newspaper, Manuel underscored Catoca’s pivotal role as a “special technical arm” of the Angolan National Diamond Company, particularly in advancing the nation’s diamond sub-sector.
The Antwerp World Diamond Centre (AWDC) announced the unexpected resignation of CEO Ari Epstein on Thursday, as reported by the AWDC’s board of directors. While Epstein, who served as CEO for 13 years, declined to comment on the reason for his departure, Belgian financial newspaper De Tijd cited conflicts between the diamond sector and the Belgian government over Russian diamond sanctions as a possible cause. The AWDC, Belgium’s primary diamond industry group, has not yet
Botswana Diamonds, listed in London and Botswana, has announced plans to leverage artificial intelligence (AI) techniques to analyze its extensive database of diamond exploration data in Botswana. The company aims to enhance its search for new diamond deposits and potentially other minerals using this innovative approach. The database, comprising 380 GB of data and 260,000 files, represents one of the largest diamond exploration datasets in the country. Botswana Diamonds sees this as a solid foundation
Petra Diamonds, a London-listed company, is poised to achieve substantial cash savings of $75 million in the 2024 financial year following the initiation of a sales process for the Koffiefontein diamond mine in South Africa’s Free State province. The company has raised its cash savings goal for the 2025 fiscal year to over $30 million through various cost-saving measures, including potential retrenchments. Having entered a sales agreement with rough diamond trader Stargems earlier this year,
Lucapa Diamond Company has announced the appointment of industry veteran Stuart Brown as the new chairman of its board. Brown brings extensive experience from his tenure at prominent diamond-mining companies, including De Beers, Firestone Diamonds, and Mountain Province. With a career spanning two decades at De Beers, Brown served in key roles such as interim CEO and chief financial officer. Notably, during his leadership at Firestone Diamonds, he successfully raised $225 million for the development
Dubai-based Stargems Group has finalized the acquisition of the Koffiefontein diamond mine in South Africa from Petra Diamonds, marking its third venture in the country’s diamond industry. Pending approval from South Africa’s Department of Mineral Resources and Energy, Stargems will assume ownership of the mine. The agreement includes a nominal cash consideration to Petra, with Stargems taking responsibility for environmental rehabilitation liabilities and site maintenance costs. Petra will avoid closure-related expenses estimated at $15 million
