SA diamond producers welcome ruling on Mining Charter

The South African Diamond Producers Organisation (SADPO) has supported a High Court ruling that the country’s Mining Charter is an instrument of policy, not binding legislation.

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Indian diamond exporter under Income Tax radar

The Income Tax department carried out search operations on premises connected to a leading diamond manufacturer and exporter from Gujarat and seized a large volume of unaccounted data. The raids, which began on September 22 based on intelligence input...

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New RJC standard for lab-grown materials

Responsible Jewellery Council, the world’s leading standard-setting organisation for the global jewellery and watch industry with 1,500 member companies in 71 countries, announced that it will develop a standard for laboratory-grown materials to establish...

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Mountain Province Diamonds announced appointment of director

Mountain Province Diamonds Inc. announced the appointment of Mr. Dan Johnson, P.E. to its Board of Directors. An accomplished leader in the mining industry, Johnson's expertise ranges from mine design, construction, and operations, to finance and...

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Minjar Gold Pty Ltd seeks proposal to acquire 100% ownership of Golden Dragon Gold Project

Australian miner Minjar Gold Pty Ltd announced that it is seeking proposals to acquire 100% ownership of the tenements of the Golden Dragon Gold Project and / or the neighboring Fields Find Project together the Assets. The Assets are located 350km...

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Diamond Production Dropped, Now It Is Nosediving

04 september 2020

(edahngolan.com) - Global diamond production sank 6.9% in 2019, the deepest plunge in a decade. By value, production dropped 6.2%. There were good reasons for this, and our updated production forecast calls for an even more significant slide in 2020. More than halfway through 2020, a devastating year for global economies with extensive lockdowns and hardly any rough diamond sales, it is clear that diamond production in 2020 will be considerably lower than it was in 2019. Based on production reports published so far and miners’ updated guidance for the year, diamond production is estimated to decline 22% in 2020. Using the KP figures, this translates to 108 mcts in 2020, or 108.5 mcts based on the full global production including smuggling. A 22% decline in the volume of diamond production is a very conservative figure. It does not take into account the realistic possibility that several mines that closed or were put on care and maintenance in recent months may not open until the diamond market recovers. A more aggressive estimate, which takes into account the issues that mining companies in Canada have, the high inventories held by the leading producers with the impact lower prices will have on less profitable smaller mines, and the decline could sink a further several million carats to 103 mcts, a 25% drop in production.