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Dominion
Dominion to Sell Assets in Bid to Avoid Bankruptcy
Dominion Diamond Mines has agreed to an asset sale that would allow it to resume mining operations and avoid bankruptcy.The deal, which is subject to court approval, would provide an affiliate of the Washington Companies — which purchased Dominion...
Mining May 24, 2020 Rapaport News
Dominion
Court Orders Release of Dominion’s Diamonds
A Canadian court has ordered the Rio Tinto subsidiary that manages the Diavik mine to release inventory belonging to Dominion Diamond Mines it had been holding as a guarantee for missed payments.Diavik Diamond Mines (DDMI) has...
Mining May 11, 2020 Rapaport News
Dominion
Dominion Owes Creditors $820M
Dominion Diamond Mines owes a combined CAD 1.2 billion ($820 million) to banks and other creditors, according to a court document it filed as part of its insolvency petition.While a large portion is due to businesses in the Northwest Territories, where...
Mining May 06, 2020 Rapaport News
Dominion insolvency
Dominion Insolvency ‘Puts Diavik Mine at Risk’
A subsidiary of Rio Tinto has voiced concern over the continuity of the Diavik mine after its joint-venture partner in the project was granted protection from creditors. The insolvency order obtained in late April by Dominion...
Mining May 03, 2020 Rapaport News
Dominion
Dominion Asks for More Time to Repay Debts
Dominion Diamond Mines has requested an extension to the insolvency protection it was awarded last week, stating that it needs more time to restructure its finances or find new investment.The miner asked the Alberta Court of the...
Mining Apr 28, 2020 Rapaport News
Dominion 552
Dominion Files for Insolvency Protection
Dominion Diamond Mines has filed for and received insolvency protection, a month after suspending operations at its Ekati deposit in Canada due to the coronavirus pandemic.The company was granted protection from its creditors under...
Mining Apr 23, 2020 Rapaport News
Miners
Heavy Debt Looms over Mining Shutdown
A number of diamond-mining companies that have halted production during the COVID-19 crisis will find it difficult to resume operations amid their struggles with debt, analysts have predicted.The warning comes after several miners announced...
Mining Apr 23, 2020 Leah Meirovich
Rio Tinto
Rio Tinto Stands By Production Forecast
Rio Tinto has maintained its diamond-production outlook for 2020 despite market shutdowns due to the coronavirus pandemic.The miner expects to produce between 12 million to 14 million carats from its Argyle mine in Australia and its...
Mining Apr 19, 2020 Rapaport News
Rio Tinto
Govt. Allows Mining at Argyle to Continue
Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic.The company has received full approval from the Western Australian state government to continue its production operations prior...
Mining Apr 06, 2020 Leah Meirovich
Dominion
Dominion Suspends Ekati Mining Operations
Dominion Diamond Mines has put all operations at its Ekati mine in Canada on hold indefinitely in an effort to protect workers from the coronavirus pandemic.The miner has suspended operations at the Northwest Territories site because of the...
Mining Mar 22, 2020 Rapaport News
Miners coronavirus
Production Continues as Miners Fight Virus Impact
Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
Mining Mar 19, 2020 Leah Meirovich
Dominion
Dominion Appoints Interim CEO
Dominion Diamond Mines has named Patrick Merrin as its interim CEO, replacing Shane Durgin, who has left to pursue other opportunities. Merrin, who assumes the role with immediate effect, joined parent group...
Mining Feb 11, 2020 Rapaport News
Rio Tinto Argyle mine
Rio Tinto Lowers Outlook as Argyle Closure Looms
Rio Tinto expects a decline in diamond production in 2020 as it reduces output at its Argyle mine in Australia, which is set to close in the fourth quarter.The company will produce between 12 million and 14 million carats for the year,...
Mining Jan 19, 2020 Rapaport News
De Beers Dominion
De Beers, Dominion Seek Canada Expansion
De Beers and Dominion Diamond Mines have submitted paperwork indicating their desire to expand exploration at their current projects in Canada.In a December 31 permit request to Canada’s Mackenzie Valley Land and Water Board, De Beers noted interest...
Mining Jan 06, 2020 Rapaport News
Tiffany
LVMH Sees Value in Tiffany’s Diamond Sourcing
A storied past and popularity as a brand might bethe first things that would attract a potential suitor to Tiffany & Co. ButLVMH has identified another key attribute that made the US jeweler a valuabletarget: its ability...
Retail Nov 28, 2019 Joshua Freedman
KGK, Botswana
Who’s Buying the Rough in 2019?
The stability of the diamond industry is largely in thehands of 122 manufacturers and dealers that buy rough on a contractual basis. Many of the sector’s current problems have resulted from too much rough entering the market...
Rough Markets Aug 11, 2019 Joshua Freedman
Rio Tinto
Rio Tinto Incurs Loss in Diamond Division
Weak rough prices pushed Rio Tinto’s diamond unit into thered in the first half of the year, the miner reported Thursday. The division recorded a net loss of $5 million for the sixmonths ending June...
Mining Aug 01, 2019 Rapaport News
AFG
French Gem Group to Hold Diamond Symposium
The French Association of Gemmology (AFG) will hold aconference in Paris on the state of the diamond industry, it said Monday.The 18th Paris Gemmological Rendez Vous — whichwill take place on September 9 — will cover topics including diamondmining,...
Polished Markets Jul 23, 2019 Rapaport News
Argyle mine 600
Rio Tinto Output Falls in 1H
Diamond production at Rio Tinto dropped 10% year on year inthe first half of 2019, as the miner recovered lower-grade ore at its Argylemine in Australia. The company’s share of production at the Argyle and Diavik mines came...
Mining Jul 16, 2019 Rapaport News
FCRF
Pink Diamond Prices Firm in 1Q
Pink fancy-color diamonds outperformed other major colorcategories in price terms during the first quarter, the Fancy Color ResearchFoundation (FCRF) said. “At a time of diamond-market uncertainty, fueled by growingwhite-diamond inventory and the emergence of lab-grown...
Polished Markets May 05, 2019 Rapaport News
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