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Rio Tinto
Rio Tinto Output Falls Amid Lower Grades
Lower mining grades and reduced ore availability contributedto a drop in Rio Tinto’s third-quarter diamond production, the company reportedWednesday. Output at its wholly owned Argyle mine in Australiafell 7% year on year, yielding 3.6 million carats...
Mining Oct 17, 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
Alrosa Lomonosov deposit
Alrosa Falls Victim to Changing Retail Practices
Retailers’ attempts to maintain low diamond inventories are hurtingdemand across the trade, Alrosa warned after reporting its lowest quarterlysales since 2015. The Russian miner’s sales slumped 26% to $807 million in thesecond quarter...
Mining Jul 18, 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
Victor mine
2H Slump Dents De Beers Sales Volume
De Beers’ sales volume fell 4% last year due to weakeneddemand for lower-value diamonds in the second half. The miner sold 33.7 million carats of rough, compared with 35.1million carats in 2017, as clients bought fewer of its...
Mining Jan 24, 2019 Rapaport News
Alrosa Lomonosov deposit
Alrosa to Hold Back Supply in 2019
Alrosa plans to keep its rough-diamond sales in line withproduction in 2019 to avoid flooding the market with excess supply.The Russian miner will sell 38 million to 39 million caratsnext year, despite having more goods available in its...
Mining Dec 23, 2018 Leah Meirovich
Venetia
De Beers Raises Production Outlook
De Beers has increased its production forecasts for 2018 and the coming years, as the miner anticipates solid consumer demand. The diamond company expects output for the current year to reach 35 million to 36 million...
Mining Dec 12, 2018 Joshua Freedman
Mountain Province
Gahcho Kué Production Set to Rise
Production at the Gahcho Kué mine is likely to exceedexpectations for 2018 before increasing steadily over the next three years, accordingto part owner Mountain Province. The company is confident total output at the Canada asset...
Mining Nov 28, 2018 Rapaport News
Argyle 150
Diamond Resources Might Not Be Forever
While it’s true that value comes from rarity, no naturalresource lasts forever, and the rare is becoming even rarer. Diamond productionis set to peak in 2019, after which it will begin a steady decline. De Beersestimates global...
Mining Aug 14, 2018 Leah Meirovich
Marange
Zimbabwe Output Soars in First Half
Zimbabwe’s state diamond producer recorded a 44% increase inoutput in the first half of 2018 following investments in mining and processingcapacity. The Zimbabwe Consolidated Diamond Company (ZCDC) recovered1.6 million carats in the six months ending...
Mining Jul 22, 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
Zimbabwe 150
Zimbabwe Forecasts Surge in Diamond Output
Zimbabwe’s rough-diamond production will more than triple to11 million carats in 2025, according to the nation’s state-owned miningoperation. Output will grow at an average of 21% per year from 3million carats in 2018, a spokesperson for the...
Mining Jun 05, 2018 Rapaport News
Rio Tinto Argyle mine
Rio Tinto Slashes Argyle Outlook
Rio Tinto has lowered its estimate of diamonds it can viably extract from the Argyle mine, after experiencing operationaldifficulties and reducing its price forecast. The asset’s ore reserves slumped 45% to 16 million tonnes...
Mining Mar 05, 2018 Rapaport News
De Beers Earnings Fall 150
De Beers Production to Peak in 2018
De Beers expects its production to hit a high point in 2018 as anumber of its mines approach the end of their life span, CEO BruceCleaver told Rapaport News. The company is planning production of 34 million to 36million carats in 2018,...
Mining Feb 22, 2018 Joshua Freedman
Botswana Rough Exports Fall in 2017 150
Botswana’s Rough Exports Drop
Botswana’s rough-diamond exports declined 14% to $3.48 billion in 2017, according to data released by the Bank of Botswana. After rising slightly in the first quarter, exports dropped18% year on year in the second quarter, slid 21% in the...
Mining Jan 31, 2018 Rapaport News
De Beers sorter 140
Rough Market Upbeat at $665M De Beers Sight
Rough-diamond demand was strong at De Beers’ January sight, as manufacturers plan to increase their production in anticipation of post-holiday orders from retailers.The mining company reported proceeds of $665 million in its firstsales cycle of the year, which included...
Rough Markets Jan 31, 2018 Rapaport News
Alrosa rough
Alrosa Sales Exceed 41M Carats in 2017
Alrosa sold more diamonds than it mined in 2017, even as production grew.The Russian miner reported sales volume of 41.2 million carats for the year, up 3% from the amount it reported for 2016. Meanwhile, output rose...
Mining Jan 28, 2018 Rapaport News
Mir mine Alrosa
Alrosa Rough Production to Fall in 2018
Alrosa expects its rough-diamond production will decline about7% next year, with the Russian miner selling off inventory to maintain supply,it said last week. The company projected output of 36.6 million carats for2018,...
Mining Dec 24, 2017 Rapaport News
Firestone Liqhobong mine
Firestone Raising Cash After Price Drop
Firestone Diamonds is looking to raise $25 million (GBP 18.5million) to fund operations at its Liqhobong mine in Lesotho after weak roughprices drove the company to a loss and forced it to rethink its plan for theasset. Disappointing demand...
Mining Dec 04, 2017 Rapaport News
Gahcho Kue processing plant
Gahcho Kué Production Exceeds Forecasts
Mountain Province Diamonds could surpassits diamond output target for 2017 from the Gahcho Kué mine in Canada’sNorthwest Territories due to stronger-than-expected production in the thirdquarter.Mountain Province is a 49% partnerwith De Beers Canada in the mine, which...
Mining Oct 25, 2017 Rapaport News
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