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South African investors have little appetite for investments

A business and technical leader in the diamond exploration and mining industry, James Campbell has spent over thirty years in the diamond industry and is currently Managing Director of Botswana Diamonds plc. His immediate past role was Chief Executive...

24 april 2017

Jean-Marc Lieberherr: Medium to long term prospects for the world diamond market are strong

Diamond Producers Association (DPA) was established in May 2015 by seven of the world's leading diamond companies, including ALROSA and DE BEERS, to maintain and increase the demand for diamonds, as well as their credibility. One of DPA’s most important...

17 april 2017

Chidhakwa: I have no misgivings about diamond mining consolidation in Zim

Zimbabwe’s mines minister Walter Chidhakwa stands accused of decimating the country’s diamond industry when he decided early last year to streamline operations of mining companies in Marange and that of partly Russian-owned, DTZ-OZGEO, in Chimanimani...

10 april 2017

We are open for good business in all our locations - Erik Jens

Erik Jens, the Global Head - Diamond & Jewellery Clients - AMRO BANK N.V. comes armed with professional experience in banking, financing and investments. He has specialized in private wealth management solutions, investments in hedge funds, private...

03 april 2017

Those who do not define their own niche, will not survive

The Antwerp Diamond Trade Fair (ADTF) enjoys broad industry support as a key annual event for the international jewelry community. The invitation to the ADTF can be obtained directly from the organizers, on the recommendation of one of the participants...

27 march 2017

Dominion Diamond Corporation announced financial and production targets for 2018

20 march 2017
Dominion Diamond Corporation has released its guidance for sales, Adjusted EBITDA, unit operating costs, and capital and exploration expenditures for fiscal 2018 (ending January 31, 2018).
Sales are expected to be between $875 and $975 million, an increase of 62% compared to fiscal 2017 sales.
Adjusted EBITDA is forecast to be between $475 and $560 million, reflecting a high margin ore mix, combined with ongoing cost containment and efficiency initiatives.
The cash cost of production is expected to be between $70 and $80 per tonne processed and between $35 and $40 per carat produced. The average price per carat sold is expected to range from $70 to $90 per carat.
Growth capital expenditures are expected to total between $115 and $140 million, demonstrating a commitment to investment in growth. Sustaining capital expenditures, including capitalized production stripping, are expected to total between $160 and $190 million.
Combined production at the Ekati mine (100% basis, fiscal 2018) and the Diavik mine (40% share, calendar 2017) is expected to be between 9.1 and 10.0 million carats.
"We continue to execute on our long-term strategic plan and to deliver results. Our strong sales and Adjusted EBITDA forecasts for fiscal 2018 are driven by high value production from Koala and Misery Main, as Ekati moves to the first full year of the new phase of the mine plan," said Jim Gowans, Chairman of the Board of Directors.
According to the company, the diamond market continues to recover from the impact of demonetization in India. The guidance for fiscal 2018 foresees the sale of a higher volume of lower value diamonds that were previously held back from sale due to the weaker market conditions following the demonetization. This is expected to affect the average price per carat sold as well as the number of carats sold, Dominion notes.

Alex Shishlo, Editor of the Rough&PolishedEuropean Bureau in Brussels

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