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Rough diamonds
Global Diamond Production Value Rises
Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4...
Mining Jul 07, 2019 Rapaport News
De Beers sight box
De Beers Reduces Sightholder Supply
De Beers sightholders are bracing for lower rough supplyfor the rest of 2019 as the miner reduces its production and fulfills itscommitments to support local manufacturing in Africa.The company expects production to drop as its Victor minein...
Rough Markets Apr 08, 2019 Joshua Freedman
Petra Diamonds
Petra Unearths 101ct. Rough at Cullinan
Petra Diamonds recovered two gem-quality rough stones fromits Cullinan mine in South Africa Friday. The 100.83-carat, D-color, type IIstone and another 6.12-carat, blue, type II diamond will be included in the company’supcoming tender later...
Mining Mar 10, 2019 Rapaport News
Diamcor
Diamcor Sales Rise, Loss Drops in 3Q
Diamcor saw a significant sales jump in the third fiscal quarter asproduction increased at its mine in South Africa. Revenue surged 76% to $1.4 million in the three monthsending December 31 2018, compared to $864,546 in the same period...
Mining Mar 03, 2019 Rapaport News
De Beers Veneita
Higher Costs Hit De Beers Profit
De Beers’ earnings fell in 2018 due to the costs of new initiatives such asits Lightbox synthetics business.Underlying earnings slid 34% to $349 million, as capital expenditure rose 53% to $417 million for the year, the company...
Mining Feb 21, 2019 Rapaport News
Sorting at DTC Botswana
De Beers Green-Lights Disclosure-Rule Changes
De Beers has approved plans to allow sightholders to referto its goods as “DTC diamonds,” a company spokesperson confirmed with RapaportNews on Tuesday. The miner consulted with clients during the December sightin Botswana, proposing to relax its...
Mining Jan 08, 2019 Joshua Freedman
De Beers sight box
De Beers Ready to Relax Its Provenance Rules
De Beers is planning to loosen its source-disclosure restrictions for sightholders following requests for increased transparency, Rapaport News has learned.The company consulted with clients during this week’s sightin Botswana, proposing to let them refer...
Rough Markets Dec 13, 2018 Joshua Freedman
Diamcor
Production Drop Hits Diamcor Sales
Diamcor’s sales fell in the second fiscal quarter as lowerproduction at its mine in South Africa resulted in reduced availability ofgoods. Revenue dropped 45% to $726,588 in the three months endingSeptember 30 compared to $1.3 million in the same period...
Mining Dec 02, 2018 Rapaport News
Diamond
IDMA, WFDB Consider Joining Forces
The International Diamond Manufacturers Association(IDMA) is considering an alliance with the World Federation of DiamondBourses (WFDB) in response to the crisis in the global cutting sector. “With the changes in the diamond-manufacturing sector’s landscape,as well as due to the...
Manufacturing Nov 05, 2018 Joshua Freedman
Kimberley
Kimberley Rough Goes on Sale in Antwerp
Production from the Kimberley mining operations in SouthAfrica will come to Antwerp for tender following Petra Diamonds’ sale of theasset. Until now, Petra only offered the goods for sale in SouthAfrica. The company offloaded...
Rough Markets Aug 29, 2018 Rapaport News
De Beers 150
De Beers Sales Volume Rises in Positive Market
De Beers’ sales volume and production grew sharply in thesecond quarter amid strong trading conditions, the miner’s parent companyreported Thursday. Rough-diamond sales rose 69% to 10 million carats during thethree months ending June 30,...
Mining Jul 19, 2018 Rapaport News
Dubai 150
Trans Atlantic Brings In $35M at Dubai Tender
Trans Atlantic Gem Sales (TAGS) garnered $35 million from atender of rough diamonds in Dubai in June, it said Monday.The company sold 27,161 carats of high-qualitystones sourced from mines in South Africa and Angola. The diamonds...
Rough Markets Jul 09, 2018 Rapaport News
GIA Pink Diamond
Petra Sells Kimberley Mine for $22M
Petra Diamonds will offload its majority stake in theKimberley mine, claiming the deal will ensure a sustainable future for theproject and help the company focus on its core assets. Ekapa Mining has agreed...
Mining Jul 05, 2018 Rapaport News
Trans Hex 150
Losses Grow at South Africa’s Trans Hex
Trans Hex Group’s losses widened 2% to $13.9 million (ZAR186.8 million) in the past fiscal year, reflecting the termination of its LowerOrange River (LOR) mining operations. The company halted production at the unprofitable LORdivision in South...
Mining Jun 24, 2018 Rapaport News
De Beers 150
De Beers Raises Prices at $520M Sale
De Beers’ April sight closed with a value of $520 millionamid concerns among manufacturers that higher rough prices could affect profitmargins.De Beers raised prices by 1% to 2% from the previous salefor larger size categories, sightholders told...
Rough Markets Apr 17, 2018 Joshua Freedman
Tango 150
8ct. Diamond Boosts Tango Average Price
Tango Mining achieved an average price of $864 per carat atits March tender, driven by the sale of an 8.47-carat diamond, the company saidFriday. The stone, which fetched $2,896 per carat, was among 106 roughdiamonds...
Mining Mar 25, 2018 Rapaport News
Cullinan Mine Workers 150
Diamond Seizure Dents Petra’s Sales
Petra Diamonds’ sales fell in the first fiscal half afterthe Tanzanian government confiscated a parcel of rough stones from itsWilliamson mine. Authorities seized 71,654 carats destined for Antwerp inSeptember, claiming that Petra had...
Mining Jan 29, 2018 Rapaport News
De Beers Voorspoed mine
De Beers Plans to Sell South Africa Mine
De Beers is looking for offers for its Voorspoed diamond mine inSouth Africa, saying a lower-cost operatorwould have a better chance of maximizing value at the asset. An operating model that is different from De Beers’ could helpextend the...
Mining Nov 29, 2017 Rapaport News
Botswana Diamonds Vutomi
Explorer Looks to Revive Historic Diamond Area
Botswana Diamonds has discovered a potential spot fordiamond mining in an area of South Africa that it claims was an importantregion for the sector in the 19th century.A number of diamond mines existed in the Free State Projectarea prior...
Mining Oct 30, 2017 Rapaport News
Petra Finsh mine
Petra Diamonds Warns of Lending Breach
PetraDiamonds is likely to breach its lending covenants following strikes at threeSouth African mines and a dispute over valuation at its operations in Tanzania,it warned.Thecompany has informed its lenders that it might fail to meet certain ratiosrelated to its...
Mining Oct 15, 2017 Rapaport News
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