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Expert reports

01.08.2014
New underground diamond mine to have automated truck loop
(miningweekly.com) – The design of the Venetia underground diamond mine in Limpopo province, where the Anglo American-controlled De Beers is currently rolling out a R20-billion investment, provides for an automated driverless horizontal truck-haulage system in its workings.

31.07.2014
De Beers CEO Discusses Diamond Brands
(Forbes) - Philippe Mellier is calm and composed as we sit for our 30-minute session while nervous PR and marketing people hover over us on the floor of the JCK Las Vegas jewelry tradeshow. The CEO of De Beers Group has made a rare appearance in the US to promote the company’s diamond brand, Forevermark, and a new marketing and advertising campaign for the US market.

30.07.2014
Rough Market Report: Sight +$800M, Prices Inch Up
(IDEX Online) - In response to Alrosa’s announced decline in supply, demand for rough diamonds jumped over the past few months, and De Beers responded with a larger than usual Sight in July to satisfy the market’s request for goods. De Beers’ measured response to the market was a combination of enlarged supply with only a small overall increase in prices.

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News

01.08.2014
Zimbabwe Ministers in Russia to Court Foreign Investment in Mining Sector
Zimbabwe's Finance and Economic Development Minister Patrick Chinamasa and Mines and Mining Development Minister Walter Chidhakwa are in Moscow this week seeking investors for Zimbabwe's mining sector.

01.08.2014
DiamondCorp says Lace’s UK4 to commence production in H1 2015
DiamondCorp said the scoping and mine design studies on the Upper K4 (UK4) block of its Lace diamond mine, in South Africa were completed and confirm the potential for commercial ramp up from underground kimberlite mining.

01.08.2014
Land trouble may be a ‘spoke in the wheel’ for SDB
The proposed Surat Diamond Bourse (SDB) is facing opposition from farmers for taking Navsari Agriculture University's (NAU) land near Ghod Dod Road.

01.08.2014
Diamonds, gold fuel CAR religious violence - report
The religious violence that has ravaged the Central African country is allegedly being fuelled by the illegal trading in diamonds and gold.

01.08.2014
Brazil Minerals Expands Management Team
Brazil Minerals Inc. added three professionals to its management team. Carlos Henrique de Oliveira Garcia joined the diamond and gold mining company as manager.

01.08.2014
RJC reaches a milestone – over 500 Members
In its ninth year, RJC reached a milestone this month with over 500 Members, 363 of which are certified against the RJC Code of Practices (COP).

31.07.2014
Fitch Affirms OJSC ALROSA at 'BB', Outlook Stable
Fitch Ratings has affirmed Russian diamond producer OJSC ALROSA's Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BB'.

31.07.2014
Angola pocketed $117 mln from June diamond sales
Angola accrued $117 million from the sale of diamonds in June, which officials said was an increase of 20 percent when compared with the previous month.

Exclusive

28.07.2014
Funding alluvial diamond operations a ‘hit and miss affair’: Rand Merchant Bank
henk_de_hoop_preview.jpgThe Rand Merchant Bank (RNB) said that it is not comfortable funding alluvial diamond mining projects as they are highly risky. The bank’s business development director Henk de Hoop, who has an experience in funding diamond projects, told Rough & Polished’s Mathew Nyaungwa in an interview on the sidelines of the Botswana Resource Sector Conference held last month, in Gaborone that funding alluvial diamond operations is a “hit and miss affair”.


Analytics

Flexible destocking by ALROSA
Following the sellout of nearly 5 million carats of rough in the first quarter of this year, ALROSA sold no more than 400,000 carats of diamonds from its stocks in the second quarter. Meanwhile, global prices for rough diamonds went up 2% in the second quarter compared with the first quarter, which made it possible for ALROSA to have much higher sales. Why was it that ALROSA did not take advantage of the positive market conjuncture and refrained from boosting its destocking schedule?

Interesting times lie ahead for Angola’s diamond industry

The Catoca diamond mine is currently the biggest kimberlite pipe in Angola producing more than half of Angola’s diamonds. The proven and probable diamond reserves of the mine are estimated at 130 million carats. However, despite its moves to boost output, Catoca might have recently felt challenged by Lucapa Diamond Company. The company said last month that its Lulo concession would likely dwarf Catoca as the country’s biggest diamond producer.


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