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Mountain Province
Mountain Province Loss Widens Amid Weak Pricing
Mountain Province’s losses intensified in 2019 as weaker anticipated diamond prices led to the devaluation of its Gahcho Kué mine.The miner posted a net loss of CAD 128.8 million ($89 million), compared with a loss of $14.1 million...
Mining Mar 24, 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
Mountain Province
Mountain Province Weighs Virus Effects
Mountain Province has delayed its year-end results by a week due to the effects of the coronavirus, the Canadian diamond miner said Monday.The company and its auditors have been unable to complete the relevant work...
Mining Mar 16, 2020 Rapaport News
Star Rays factory Surat
Star Rays Outlines Plan to Be Carbon-Neutral
Star Rays revealed its intention to be the first Indian diamond company to become carbon-neutral, arguing that greener credentials will help attract consumers to the product.The Mumbai-based manufacturer aims to reduce travel, produce less plastic...
Manufacturing Feb 16, 2020 Joshua Freedman
mountain province ore crusher 150
Mountain Province to Exit Nasdaq
Mountain Province has decided to delist itself from the Nasdaq stock exchange following six months in which its shares were below the minimum bid price.The company, which is also listed on the Toronto Stock...
Mining Feb 02, 2020 Rapaport News
Mountain Province
Rough Slump Hits Mountain Province
Sales of rough diamonds at Mountain Province fell 13% in 2019 as a glut in the midstream led to a challenging market.The company’s sales from its Gahcho Kué mine in Canada slipped year on year to $208.2 million in 2019, it said last...
Mining Jan 26, 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
Mountain Province
New Pipe Proves Fruitful for Mountain Province
Mountain Province recovered more than 5,000 micro-diamondsfrom Gahcho Kué’s new Wilson pipe during its initial drilling program. The Canadian miner retrieved 1.7 tonnes of kimberlite fromtwo drill holes at the site, it said...
Mining Dec 24, 2019 Rapaport News
Mountain Province trucks 150
Mountain Province Production to Rise
Mountain Province has forecast a rise in output next year amid a stabilization of demand and operational improvements at its Gahcho Kué mine. The Canada-based miner will produce between 6.75 million and 6.95million carats, up from...
Mining Dec 22, 2019 Rapaport News
Mountain Province
Mountain Province Slides to Net Loss
Mountain Province saw a net loss in the third quarter,hampered by bad weather and the negative impact of currency fluctuation. The company reported a loss of CAD 25.8 million ($19.6million) from its Gahcho Kué mine in Canada...
Mining Nov 07, 2019 Rapaport News
Mountain Province
Lower Grades Hit Mountain Province Production
Production at the Gahcho Kué mine failed to meet MountainProvince’s expectations in the third quarter, as bad weather led to themining of lower-grade ore. Ore from the asset yielded 1.7 carats of rough diamonds pertonne in the three...
Mining Oct 24, 2019 Rapaport News
Mountain Province
Mountain Province Faces Nasdaq Delisting
Mountain Province has been given six months toraise its share price or it will no longer be eligible to list on the Nasdaqstock exchange, it said Tuesday. The Canada-based miner’s stock is currently valued at$0.97, below the minimum...
Mining Aug 14, 2019 Rapaport News
Mountain Province
Currency Gains Boost Mountain Province Profit
Mountain Province’s profit increased in the second quarter amid a stronger Canadian dollar that reduced its debt levels, it said Tuesday. Profit jumped 61% to CAD 10.3 million ($7.8 million) for thethree months ending...
Mining Aug 07, 2019 Rapaport News
Diamonds at Tenders
Let’s Set Our Sights on the Auctions
De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
Rough Markets Aug 07, 2019 Avi Krawitz
De Beers carbon
De Beers Testing Carbon-Neutral Mining
De Beers is studying how to eliminate the carbon footprintof diamond mining by storing the emissions inside kimberlite, it saidWednesday. The miner recently received a government grant of CAD675,000 ($514,000) to test the process at its Gahcho Kué mine...
Mining Jul 24, 2019 Rapaport News
Mountain Province Yellow Diamond 150
Low Grades Dent Mountain Province Output
Production at Gahcho Kué dropped 10% year on yearto 1.7 million carats in the second quarter, as mining took place in a lower-grade portion of the deposit. “The grade variance year over year is mainly a function ofmining lower-grade-ore...
Mining Jul 21, 2019 Rapaport News
Large Canadian rough diamond in palm of hand, GSS
Diamond Glut Prompts De Beers to Slash Production
De Beers has lowered its production forecast for this year,noting that weakness in the diamond trade negatively affected itsperformance in the second quarter.Sales volume slumped 10% to 9 million carats in the threemonths ending June 30 due...
Mining Jul 18, 2019 Rapaport News
Iherzolite
De Beers Identifies New Kimberlite Indicator
The discovery of a new source-rock indicator for diamondformation has the potential to help geologists locate and identify valuablediamond deposits around the world, a study by the University of Alberta and DeBeers shows. “The outcome of the...
Mining Jun 27, 2019 Leah Meirovich
Mountain Province
Mountain Province Upbeat on Production
Shares in Mountain Province rose 12% Friday after it increased its production guidance for the Gahcho Kué deposit. The Canada-based miner has made plant modifications at thesite that will allow it to process between 3.2...
Mining May 12, 2019 Rapaport News
De Beers Venetia 150
De Beers Sales and Production Drop
De Beers’ sales volume fell 15% to 7.5 million carats in thefirst quarter, as overall demand for lower-value rough goods remained soft.Production for the three months ending March 31 dropped 8%to 7.9 million carats due...
Mining Apr 28, 2019 Rapaport News
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