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Rio Tinto ups diamond production in Q3

Rio Tinto Group has announced that its diamond production for the third quarter of 2017 was higher than the third quarter of 2016.

Yesterday

Rough patch for De Beers as eighth sales cycle dips to $370m

De Beers said its eighth sales cycle eased to $370 million from the previous cycle’s $507 million or $494 million, a year earlier.

Yesterday

RJC and DMCC to collaborate on CSR and sustainability in jewellery segment

The Responsible Jewellery Council (RJC) and the Dubai Multi Commodities Centre (DMCC) signed a Memorandum of Understanding to work cooperatively on advancing their shared objectives of improving corporate social responsibility and responsible...

Yesterday

Stellar disposes Guinea assets for $1,25mln

Stellar Diamonds said it has finally sold its Guinea assets for $1,25 million following an evaluation by the buyer, BDG Capital.

Yesterday

Court thwarts Israeli diamond firm from exiting Zim before settling debts

Zimbabwe’s High Court has thwarted an attempt by Fuss Diamond, an Israeli firm to close its operations in the southern African country without settling its debts.

Yesterday

5 Reasons Why Diamond Mining Stocks Have Been Under Pressure

20 april 2017
(paulzimnisky.com) - From February 15th to March 13th, a market-cap weighted aggregation of diamond miners in U.S. dollars including ALROSA Joint-Stock Company (RTS: ALRS), Petra Diamonds Ltd (LSE: PDL), Dominion Diamond Corp (TSX, NYSE: DDC), Gem Diamonds Ltd (LSE: GEMD), Lucara Diamond Corp (TSX: LUC), Stornoway Diamond Corp (TSX: SWY), Firestone Diamonds Plc (LSE: FDI), and Mountain Province Diamonds Inc (TSX, NASDAQ: MPVD), was down 14.3%. During the same time period, the S&P 500 (the U.S. broad market proxy) was up 1.1% and notably made an all-time high on March 1st. The FTSE 100 (the European broad market proxy) was up 1.0% and also made an all-time high on March 1st. On February 24th Stornoway hit a 52-week low of C$0.81, through March 2nd Dominion shares were down 10 days in a row, and on March 8th Mountain Province made a 52-week low of C$4.51. From February 15th to March 13th, $1.8B was erased from ALROSA’s market cap, a 14.1% decline. The recovery of the diamond industry last year following the 2015 indigestion, a strong post-election U.S. economy, and a more stable Chinese economy, are all fundamentals supportive of diamond miners, but the stocks have recently displayed weakness. Here are some thoughts as to why.

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