Mali approves African Gold environmental permit for Kobada project

Mali’s ministry of environment has approved African Gold’s environmental and social impact assessment (ESIA) for the Kobada gold project and issued an updated environmental permit.

Today

Exchange rate mismatch costs Zim miners – report

Mining companies operating in Zimbabwe are losing 20% of their export earnings due to the exchange rate mismatch, according to media reports citing a survey commissioned by the country’s chamber of mines.

Today

Hong Kong’s Kunming Diamonds wins Rio Tinto’s final rare Argyle™ blue diamonds

Rio Tinto’s entire 2021 ‘Once in a Blue Moon’ Tender collection of 41 lots of carefully curated Argyle blue and violet diamonds, has been won by a single bidder, the Hong Kong fancy coloured diamond specialist, Kunming Diamonds, as per a press release...

Today

Implats makes nonbinding indicative proposal to acquire RBPlat

Impala Platinum (Implats) has made a non-binding indicative proposal to acquire 100% of the issued ordinary shares of Royal Bafokeng Platinum (RBPlat).

Today

Petra reduces net debt to $208mln

Petra Diamonds has reduced its consolidated net debt to $207.6 million as of 30 September 2021, from $228.2 million at the end of June 2021. The company’s debt was $692.3 million as of 30 September 2020.

Yesterday

What De Beers and Alrosa Clients Really Want

31 august 2020

(diamonds.net) - Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished have squeezed diamond manufacturers’ profit margins for years. But there’s a more complex issue behind the complaints: the lack of customization. The two mining giants sell most of their goods to fixed lists of customers that commit to buying certain quantities of rough in return for guaranteed supply. The stones traditionally come in prearranged boxes that clients can either take or refuse. Usually, each assortment contains diamonds the client wants and others it only buys to fulfill its contract. While De Beers and Alrosa have introduced some flexibility, the core reality remains: To get their hands on profitable rough, midstream players have to buy other goods that lack sufficient value.