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Sergey Ivanov ALROSA
New Boss Looks to Streamline Alrosa
Alrosa’s new president is planning a cost-reduction programthat is likely to include job cuts as he seeks to make the operation more efficientand easier to run, the rough-diamond producer said.The Russian miner is “facing changes in the administrativestaff with a view...
Mining Jul 04, 2017 Rapaport News
Letseng Mine
Gem Diamonds 3Q Sales Flat
Gem Diamonds reported that third quarter sales rose by less than 1 percent to $51.9 million. Sales from Letseng increased 18 percent to $37.8 million despite a slight drop in prices from the operation during the third...
Mining Oct 28, 2010 Avi Krawitz
Rockwell Diamonds 1H Sales +118% to $18M
Rockwell Diamonds first half production from its three mines rose 18 percent to 14,168 carats and rough diamonds sold, at an average price of $1,243 per carat, helped to boost sales 118 percent to $17.7 million. Three tender sales were held during the fiscal first half, which...
Mining Oct 18, 2010 Denise Romano
New Diamond Mines Found in Zimbabwe
Zimbabwe's minister of mines, Obert Mpofu, told the Sunday Mail, that he received preliminary results of the existence of diamond mines in areas such as Binga, Masvingo and Tsholotsho. He announced that the government was launching a new company made up of mining engineers and geologists called the Zimbabwe Minerals...
Mining Oct 12, 2010 Denise Romano
Rio Tinto's 2Q Diamond Production +182%
Rio Tinto reported that its diamond production rose 182 percent year on year to 3.61 million carats during the second quarter, noting a recovery in the market.“A recovery in diamonds and mineral production reflected improved market fundamentals compared with the difficult conditions of 2009, when operations...
Mining Jul 14, 2010 Avi Krawitz
Firestone Commences Production at BK11
Firestone Diamonds commenced phase-one production at its BK11 kimberlite property in Botswana through its subsidiary, Monak Venture. The mining company has 20 such properties in the Orapa area, 13 of which are proven to be diamondiferous, with BK16 identified as the most advanced, according to Firestone. The evaluation of satellite kimberlites...
Mining Jul 12, 2010 Jeff Miller
A Branding Opportunity
The debacle surrounding Zimbabwe’s manipulation of the Kimberley Process (KP) poses significant challenges to the diamond industry. Along with the concern that Zimbabwe’s 4.5 million-plus carats could flood the market, diamantaires have expressed anxiety that a potential consumer backlash could spiral out of control.Indeed,...
Research Jul 08, 2010 Avi Krawitz
Rapaport Weekly Market Report 07/02/2010
Between the LinesShow Time: Prices in Hong Kong Rise, But Not to the Level of Cutting CentersThere were mixed reports from the June Hong Kong Jewellery & Gem Fair 2010, with the overall feeling being that sales there improved against last year. Buying...
Research Jul 02, 2010 Avi Krawitz
Does the AWDC Board Represent Belgium?
The Antwerp diamond community elected new board members of the Antwerp World Diamond Centre (AWDC), the city’s umbrella organization for promoting its diamond industry worldwide, in mid-June. Of the 12 board members, the six who are known as “the trade group” attracted most of the attention...
Polished Markets Jul 01, 2010 Marc Goldstein
Lucara, Botswana Form Marketing Arrangement
Lucara Diamond and its partner African Diamonds completed a marketing arrangement with Botswana through their joint-venture company, Boteti, wherein production from the AK6 project may be sold through either open tender or exclusive contract. Lucara, the AK6 project operator, holds a 60 percent interest in Boteti,...
Mining Jun 29, 2010 Jeff Miller
Rapaport Weekly Market Report 06/17/2010
Between the LinesRough Market: Lucara Becomes a Diamond ProducerCanada-based Lucara Diamond announced that it has started production at its Mothae mine in Lesotho and that it recovered a 53.5-carat, type IIa diamond in the first week of operations. The company also owns 60 percent of the AK6 project in Botswana, with...
Research Jun 18, 2010 Avi Krawitz
Lucara Begins Production at Lesotho Diamond Mine
Lucara Diamond Corp. has launched production at its Mothae mine in Lesotho and expects to achieve its plant capacity within 45 days. The company explained that upgrades to the recovery plant at Mothae were completed on time and within budget, allowing for operations to commence there in late May....
Mining Jun 15, 2010 Avi Krawitz
Rapaport Weekly Market Report 06/10/2010
Between the LinesShow Time: Vegas SatisfiesDiamond vendors at the JCK Las Vegas show appeared satisfied that the event represented a vast improvement compared with 2009. Many went to Vegas with low expectations and therefore had a positive experience. Organizers reported that buyer traffic increased...
Research Jun 11, 2010 Avi Krawitz
IGE Resources' June Diamond Sale Garners $500K
IGE Resources reported sales of approximately $0.5 million for diamonds from its Cassanguidi mine in Angola. The Swedish company sold 2,760 carats of rough diamonds on Tuesday for an average price of $181.60 per carat, compared to the per-carat average of $162 it achieved at its first sale in April. The...
Mining Jun 09, 2010 Avi Krawitz
Rockwell Diamonds Posts $7M Loss for Fiscal 2010
Rockwell Diamonds posted a net loss of $6.7 million (CAD 7 million) in fiscal 2010 as the impact of the recession lingered, but said it is going ahead with expansion plans as diamond markets recover. The mining company had a net loss of $12.4 million (CAD 13 million) the previous year ended...
Mining Jun 01, 2010 Avi Krawitz
Trans Hex Moves From Loss to Profit in Fiscal 2010
South African diamond miner Trans Hex moved to profit in fiscal 2010 as sales improved and prices rose.“After a difficult previous financial year, when demand and prices for rough diamond production fell significantly due to the global financial crisis, the current year saw continual growth...
Mining May 31, 2010 Avi Krawitz
ACR Executive Released in Harare
African Consolidated Resources (ACR) reported that Ian Harris, the firm's financial controller in Zimbabwe, was released on bail following his arrest this past week in Harare. The mining company, which is involved in a contentious court battle over diamond claims in the Marange fields, issued a statement saying...
Financial-Legal May 11, 2010 Jeff Miller
No Dirty Gold Campaign Now Lists 70 Jewelry Firms
Four more jewelry companies pledged not to use dirty gold: Robbins Brothers, Meghan Connolly Haupt, D.NEA and Bario Neal. The addition of these four companies to the No Dirty Gold campaign, which advocates Golden Rules for the responsible sourcing of precious metals, now includes 70 jewelry...
Mining May 06, 2010 Jeff Miller
WDC to Host Panel Discussion at JCK Vegas
Press Release: The World Diamond Council (WDC) will be hosting a panel discussion during the educational program of the upcoming JCK Las Vegas Show, entitled "Diamond Dialogue — the Kimberley Process and Consumer Confidence." The event is scheduled take place on June 3, 2010 from 12:30 p.m....
Mining May 06, 2010 World Diamond Council
The Bull That Wears Bling
The diamond market has largely followed trends on Wall Street throughout the recession, a practice that has continued in 2010 through this April’s bull run. The Dow Jones Industrial Average (DJIA) fell 43 percent from the Lehman Brothers collapse in September 2008 to its low point...
Rough Markets May 01, 2010 Avi Krawitz
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