ALROSA allows deferrals during its third diamond tender

ALROSA will allow its customers to refrain from buying rough diamonds during its third trading session in a row, deferring June contract volumes to subsequent periods of the year due to difficult market conditions.

Today

DelGatto launches first-ever ‘Online Finance Platform’ on IDEX Online

The DELGATTO Diamond Finance Fund (DDFF) launched the diamond industry's first ever online finance platform, on IDEX Online on 26 May 2020.

Today

Lucapa advances Lulo kimberlite exploration project

Lucapa Diamond is making progress on its kimberlite exploration programme in Angola, which seeks to identify the hard-rock sources of exceptional alluvial diamonds mined along the Cacuilo River at Lulo.

Today

WFDB launches digital campaign to promote Get Diamonds to retailers

The World Federation of Diamond Bourses (WFDB) is launching an international digital marketing campaign to introduce Get Diamonds to jewelry retailers.

Today

SA mines record 320 COVID-19 cases

South Africa’s mining industry has recorded 320 cases of Covid-19 as the industry prepares to operate at full capacity from June 1, according to media reports citing the Minerals Council.

Today

Lightbox Delays New Production Plant to 1Q 2021

Today

(diamonds.net) - Lightbox, De Beers’s lab-grown diamond jewelry brand, has delayed commissioning its new facility in Portland, Oregon, by a few months due to the COVID-19 pandemic.“The building itself and plant infrastructure [are] already complete, and we are now in a phase of installing and commissioning the deposition equipment,” Lightbox CEO Steve Coe said in an email to Rapaport News. “To ensure a safe working environment, we have had to slow down this commissioning process as we work in accordance with state and local guidelines…and believe these new working practices will delay the full ramp-up of the plant by no more than a few months.”

The global diamond market in free fall

Yesterday

(operanewsapp.com) - The global diamond market has recorded a decline of about 50 percent since March this year compared to the same period in 2019, said Endiama Mining CEO Pedro Galiano.

Polished Diamond Prices Edge Down in April

Yesterday

(edahngolan.com) - Conventional wisdom holds that trading in the diamond industry should have come to a complete stop in April. This is largely true, but there are some exceptions. Polished diamond trading has continued, though at a much reduced level. Prices naturally declined, down a low single digit. Month over month, polished diamond prices fell an estimated 1.7% in April. This is impressively steady compared to price changes during normal times. And much better than wheat (-4.7%), coffee (-11.9%), or oil (-7.2%). The worst of COVID-19 seems to be behind us. Stores around the world are starting to re-open, led by China and Hong Kong. Cautiously, consumers will return as well. Although unemployment is sky high, weddings will be held and bridal jewelry will be purchased.

Angola announces winners of diamond, phosphate mining concessions

27 may 2020

(macaubusiness.com) - The Angolan government announced on Friday that four national and foreign companies have been chosen to confer mining rights to prospect and exploit diamonds and phosphates, leaving out the only competitor for the iron concession. The evaluation committee decided to award the phosphate concessions to Minbos Resources, Lda, of Australian origin (Cátata, Cabinda) and Cimenfort Industrial, Lda, one of the major national cement production companies and with fertilizer production activities in Brazil (Lucunga, Zaire province). In the case of the diamond concessions, the winners were Ishangol LLC, of North American origin and present in Angola for the purchase and cutting of diamonds (Camafuca-Camazambo, Lunda Norte province) and the B&A Consortium (a company of Brazilian origin, with extensive experience in the diamond industry) and Somipa (an Angolan company already operating in diamonds) for the Tchitengo concession, which covers the provinces of Lunda Norte and Lunda Sul. The only competitor that showed interest in the iron concession did not reach the minimum required standard, according to the evaluation committee, so it will have to wait for a new tender.

De Beers Inactivity Spells Local Gloom

26 may 2020

(news.thevoicebw.com) - In response to the impact of Covid-19, De Beers has drastically reduced its production guidance for the year. Initially, De Beers had set a target of mining between 32-34 million carats for 2020. The figure has since been scaled down to between 25-27 million carats due to the outbreak of the novel Coronavirus, which has led to a temporary shut down of virtually all industries. Meanwhile, the latest developments regarding the diamond industry are expected to hit government coffers hard. For decades, Diamonds have been Botswana’s biggest revenue earner, accounting for a large portion of the country’s exports in terms of value. With no diamonds currently being sold due to the pandemic, Botswana stands to lose a massive amount of money. When addressing the media recently, Minister of Finance and Economic Development, Dr. Thapelo Matsheka predicted the country could lose well over P16 billion in revenue from diamonds.

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