Lucapa’s Lulo reaches new monthly, daily alluvial diamond recovery records

Lucapa Diamond’s 40%-owned Lulo alluvial mine in Angola has reached a new monthly carat record for July 2020 of 3,462 carats almost immediately followed by a new daily carat record of 463 carats achieved in early August 2020.

Today

GIA to report specific color and clarity grades for LGDs

The Gemological Institute of America (GIA) will report specific 4Cs color and clarity grades on its new digital reports for laboratory-grown diamonds (LGDs), replacing the currently used descriptive terms and grade ranges, as per a press...

Today

ABN Amro quits trade and commodity financing

Dutch bank ABN Amro announced today that its investment bank will end all trade and commodity financing operations. The Bank’s focus turns solely to Northwest Europe and clearing activities to reduce risks, according to media reports.

Yesterday

Lucara lauds diamond supply deal with HB as it calls industry sales chain ‘broken’

Lucara Diamond, which wholly-owns Karowe Mine in Botswana, is blowing its own trumpet for securing a rough diamond supply deal with the HB, which is expected to reduce price discounts and boost cash flow.

Yesterday

AWDC and IDI to host second online diamond trade show in September

The 'virus-free' trade show co-organized by the Antwerp World Diamond Center (AWDC) and the Israeli Diamond Institute (IDI) will take place from 14 to 17 September on the Virtual Diamond Boutique trading platform.

Yesterday

Star Diamond and Rio Tinto tussle over project ownership

29 june 2020

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North Aerial View of the Star-Orion South Diamond Project                                           Image credit: Star Diamond

(northernminer.com) - In spite of a legal dispute between partners Star Diamond (TSX: DIAM) and Rio Tinto (NYSE: RIO; LSE: RIO) at the Star-Orion South diamond project in north-central Saskatchewan, the project should begin to see results this year from the first significant work conducted there in years. In April, Rio Tinto began processing a bulk sample totalling 8,271 wet tonnes that was extracted from the Star kimberlite via 10 holes drilled last year. The major has built an onsite bulk sample processing plant, with mineral concentrates being shipped offsite for final diamond recovery. Star expects all or most of the sample will be processed and reported during 2020. At issue is the ownership of the project. Rio Tinto signed an agreement to earn a majority stake in Star-Orion, located 60 km east of Prince Albert, in 2017. Under the 7.5-year option agreement, Rio can earn up to 60% of the project in four phases by spending a total of $75 million. But in November, the major gave Star notice that it was exercising all four options at once and well ahead of schedule.