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Diamonds – Mining, Lab-Grown and Conflict/Blood

India poised to become centre for rough diamond trading? – by Melvyn Reggie Thomas (Times of India – October 18, 2016)

http://timesofindia.indiatimes.com/

SURAT: Will the Special Notified Zone (SNZ) become the centre for rough diamond trading? It seems so, after the Russian President Vladimir Putin and Prime Minister Narendra Modi discussed about strengthening bilateral diamond trade at the recently concluded BRICS summit in Goa.

Both India and Russia welcomed initiatives to promote direct trade in diamonds between the two countries and gave positive evaluation of the work of the SNZ at the Bharat Diamond Bourse (BDB) in Mumbai during the summit after noting active support of this project from Russian diamond company, ALROSA.

India is the world’s largest diamond cutting and polishing centre and one of ALROSA’s key trade partners. In 2015, companies with Indian capital purchased ALROSA’s rough diamonds for the total of US$ 1.5 billion, including US$ 575 million direct supplies to India.

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New diamond mine brings hope to Canada’s northwest – by Pete Guest (Raconteur.net – October 13, 2016)

http://raconteur.net/

In Canada’s far north, the opening of the biggest new diamond mine for more than a decade could mean a revival of the region’s flagging fortunes

Canada’s Northwest Territory in Autumn is an endless wilderness of pine forests, carmine grass and trees turning yellow, pocked with copper-ringed lakes blooming with algae. The plane up from Calgary to the capital, Yellowknife, disgorges a handful of tourists from Japan who stop to take selfies in front of the stuffed polar bear on the baggage carousel.

The nascent tourism industry has been buoyed by a small but significant uptick in visitors from the Far East hoping to see the Aurora Borealis, which are considered auspicious in some quarters; children conceived under the Northern Lights are believed to be set up for a lucky life.

Locals may not always agree. After a mining-driven boom in the early-2000s, the territory’s economy hit the skids around the time of the global financial crisis, and has declined more than 15 per cent since its highest point in 2007.

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Not All Diamonds Enjoy Recovery as Budget Stones Get Left Behind – by Thomas Biesheuvel Bloomberg News – September 28, 2016)

http://www.bloomberg.com/

The recovery in diamond prices is leaving out the smallest and lowest-quality gems. For the smallest diamonds, prices are down 15 percent this year, data compiled by Bloomberg show.

That compares with an average 7 percent increase for all stones yet to be cut and polished. The overall market is recovering after De Beers and Russia’s Alrosa PJSC cut supply in 2015 to boost sales.

The slump in gems smaller than three grains (0.75 carat) is partly a hangover of producer stockpiling, which left a “hefty supply” to sell in the first half, said Johan Dippenaar, chief executive officer of Johannesburg-based Petra Diamonds Ltd.

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The 54M carat gem: De Beers’ new diamond mine is a rare thing that could be the gem giant’s best friend – by Jesse Snyder (Financial Post – September 24, 2016)

http://business.financialpost.com/

GAHCHO KUÉ, N.W.T. — Seen from inside an approaching aircraft, the Gahcho Kué diamond mine seems to materialize out of nowhere, a speck of industrial development amid an endless stretch of low vegetation and tiny lakes imprinted on the northern Canadian rock face. Here, there are no natural points of reference. The view looking out from one side of the mine is nearly indistinguishable from any other.

But beneath the surface, the location is distinct from its surroundings. Under the cap rock at Gahcho Kué are three vertical tubes of mineral — known in the industry as pipes — rich with diamonds. The mine is expected to produce 54 million carats of diamonds during its 12-year lifespan, making it the world’s largest new diamond mine to be constructed in 13 years.

The joint-venture operation, located about 280 kilometres northeast of Yellowknife, is 51-per-cent owned by De Beers Group of Companies, a privately owned diamond mining and retail company, and its massive London-based parent, Anglo American PLC. Toronto-based Mountain Province Diamonds Inc. owns the other 49-per-cent stake.

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NEWS RELEASE: ALROSA discussed the impact of synthetic diamonds on the diamond market

http://eng.alrosa.ru/

Hong Kong, September 20, 2016 – PJSC ALROSA, the world leader in diamond mining, held a meeting with the Company’s clients and partners at the September Hong Kong Jewellery & Gem Fair.

The Company presented its vision for the development of the diamond market with an increased focus on the possible impact of the increased manufacture of synthetic diamonds on the natural diamond market. At a panel discussion, key market participants exchanged opinions on the risk of illegal mixing of synthetic and natural diamonds.

Representatives of international gemological laboratories and largest world jewelry retailers, diamond market analysts, heads of the Shanghai Diamond Exchange, Diamond Federation of Hong Kong, Diamond Producers Association, Gem & Jewellery Export Promotion Council, World Diamond Council, Israel Diamond Exchange, and Antwerp World Diamond Centre participated in the working meeting.

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OPINION: Priorities misplaced if overlooking benefits of new mine – by Ron Grech (Timmins Daily Press – September 20, 2016)

http://www.timminspress.com/

TIMMINS – You can’t blame De Beers Canada for hinging the future of its proposed Tango mining project on support from the community of Attawapiskat. After all, when you are operating a mine on the James Bay Coast, discontent among residents can fuel ice-road blockades and costly delays in operation.

De Beers knows first-hand about the cost of such delays, having endured blockades on the ice road in the past, often at the hands of disgruntled former employees who were demonstrating over a personal demand.

With the Victor Mine winding down operations, it makes sense for De Beers to be working towards a smooth transition from anticipated closure of the mine in 2018 to the opening of its new Tango Extension. De Beers, which has been working on the Tango Extension for the past five years, is keen on meeting its timelines.

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N.W.T.’s Gahcho Kué diamond mine marks grand opening today – by Kate Kyle (CBC News North – September 20, 2016)

http://www.cbc.ca/news/canada/north/

Mine is estimated to become one of the 10 largest diamond mines in the world

Just over two decades in the making, Canada’s newest diamond mine is set to officially open Tuesday in the N.W.T. at a ceremony involving Indigenous leaders, mining and territorial officials. The Gahcho Kué mine, located on the tundra about 280 kilometres of Yellowknife, is estimated to be one of the 10 biggest diamond mines in the world.

The mine is poised “to help our people move out of that last rung on society’s ladder,” said Bill Enge, head of the North Slave Metis Alliance, one of six Indigenous groups who have signed confidential impact and benefits agreements related to Gahcho Kué.

The remote mine is co-owned by De Beers Canada (51 per cent) and Mountain Province Diamonds (49 per cent). “It’s a very significant development in the Northwest Territories,” Enge said.

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Attawapiskat chief accuses De Beers of issuing ultimatum – by Alan S. Hale (Timmins Daily Press – September 20, 2016)

http://www.timminspress.com/

ATTAWAPISKAT – De Beers Canada should know by the end of this week whether or not it has the support it wants from the members of the Attawapiskat First Nation to move ahead with exploration work on its Tango Extension project.

Since early August, the First Nation’s economic development corporation, Attawapiskat Enterprises, has been conducting a door-to-door survey asking people if they would support the first phase of the project that could prolong diamond mining inside their territory.

The deal being proposed to Attawapiskat members not only includes more direct involvement in the resulting mine from the Tango Extension, De Beers is also offering jobs for band member in the remediation work at the existing Victor Mine after it ceases operations in 2018.

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De Beers sees tough outlook as critical holiday sales approach – by Farah Master and Donny Kwok (Reuters U.S. – September 14, 2016)

http://www.reuters.com/

HONG KONG – Anglo American owned De Beers, one of the world’s largest diamond producers, expects some growth in the consumer market next year but its chief executive warned the overall sales environment is likely to remain tough

Bruce Cleaver, who was appointed to head De Beers in May, said prices had stabilized for rough diamonds, while the polished diamond market looked set to be flat

“We think there will be some growth in the consumer market next year, but probably not hugely significant given some of the economic factors and political factors in the world,” said Cleaver. De Beers is heading into the important holiday sales period for diamond jewelry including the Diwali festival in India, Christmas and then Chinese New Year.

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It takes two to Tango: DeBeers seeks Attawapiskat consent for new diamond mine (CBC News Sudbury – September 13, 2016)

http://www.cbc.ca/news/canada/sudbury/

Tango deposit could extend operations past 2018 when Victor Mine is expected to shut down

DeBeers Canada says it won’t even look at expanding its diamond mining operations near Attawapiskat without the blessing of the community. After nearly a decade in production, the company is running out of diamonds at its Victor Mine in the James Bay lowlands.

DeBeers Canada sees some potential in a nearby deposit called Tango, with some estimates saying it could extend the life of the Attawapiskat operation by 67 years. But before it does further exploration, chief executive Kim Truter wants the consent of the people of Attawapiskat, even though it’s only legally required to consult them.

“We are really trying to partner in a different way with the community, so they genuinely feel involved in the planning and the thinking and the decision making,” says Truter. It’s pointless us actually operating in these first nations areas if we don’t have local support.”

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Diamond mining companies setting sights on the sea as land dries up in Africa – by Aislinn Laing (The Telegraph – September 12, 2016)

http://www.telegraph.co.uk/

Oranjemund, Southern Namibia – Twelve miles off Namibia’s arid southern coastline, 150 metres below rolling ocean waves, diamond miners are hard at work securing a future for the practice of romancing by stone.

With the precious gems expected to run out on land in as little as 15 years, diamond company De Beers is building up a naval fleets to protect its interests. Namdeb, De Beers’ 50:50 operation with the Namibian government, estimates that 95 per cent of its diamonds will in future come from the sea bed off Africa’s southwest coast and the marine gems are already the fetching the highest prices from all of its seven mines.

Five specially-adapted ships fitted with giant tractors and drills between them mine more than one million carats a year from rich alluvial deposits scattered out to sea by the mighty Orange River since dinosaurs roamed the earth.

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De Beers study highlights mine’s economic spinoffs – by Len Gillis (Timmins Daily Press – September 9, 2016)

http://www.timminspress.com/

The company report said that between 2006 and 2015, De Beers
Victor operation also contributed $41 million to First Nations
communities through Impact Benefit Agreements (IBAs).

TIMMINS – Even with only a few years of operation left, the De Beers Victor Mine in the James Bay lowlands area continues to help sustain the Canadian economy with the injection of billions of dollars worth of employment, foreign investment and some of the highest quality gems in the world.

It was all outlined Wednesday when the company produced a special report highlighting the overall importance of diamond mining in Canada. The 24-page document, titled Socio-Economic Impact Report De Beers in Canada, was prepared by Ernst and Young. It spells out in detail that the company continues to invest multi-billions of dollars in Canada’s economy and hundreds of millions in the Ontario economy.

And by far most of the De Beers money spent in Ontario has been spent here in Northern Ontario, in Timmins and Attawapiskat, which is the closest community to the De Beer Victor Mine.

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NEWS RELEASE: CANADA’S NEWEST DIAMOND MINE TO PROVIDE C$6.7 BILLION BOOST TO ECONOMY

(September 7, 2016) Gahcho Kué, the world’s largest new diamond mine under construction, will provide a C$6.7 billion boost to the Canadian economy according to a report published today by EY for The De Beers Group of Companies.

The new mine, located in the Northwest Territories (NWT), is a joint venture between De Beers Canada (51 per cent) and Mountain Province Diamonds (49 per cent). Set to open officially later this month, it is expected to produce approximately 54 million carats of rough diamonds over its lifetime,1 reinforcing Canada’s position as the world’s third largest diamond producer by value.

Underpinned by a C$1 billion capital investment, the development of Gahcho Kué between 2006 and 2015 has already provided a C$440 million boost to the NWT economy.

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Illegal mining booms in Kimberley – by Murray Swart (Independent Online -September 6, 2016)

http://www.iol.co.za/

Kimberley – The number of illegal miners next to the road to Boshof has multiplied into the thousands as desperate community members converge on the outskirts of Kimberley in search of their fortune.

In September 2014, hundreds of miners started setting up their own diamond mining operations in the area after they were apparently kicked out of a neighbouring De Beers mining site just outside the city.

At the time, the men claimed that they had been legally digging between Samaria Road and the Kimberley Caravan Park for around two years until a dispute over payment forced them to occupy other property, where they are now mining illegally. The number of illegal miners in the area has now swelled to thousands and more arrive almost every day.

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Robert Gannicott had an adventurous and brilliant mining career – by Fred Langan (Globe and Mail – August 27, 2016)

http://www.theglobeandmail.com/

Bob Gannicott left England for Yellowknife nearly penniless when he was 19 because of a thwarted romance. He had been studying mining engineering at the University of Nottingham, but dropped out to work at the Giant Mine in Yellowknife. From that start Mr. Gannicott, who died this month at the age of 69, went on to become a prospector and mining promoter and, with the discovery of diamonds in Canada, he became one of the richest men in Yellowknife.

Robert Gannicott was born on June 11, 1947, in Sandford, a quiet country village in Somerset, in England’s West Country. His mother, Ida, was a school teacher and his father, Ivor, was an engineer who was in submarines in the Royal Navy during the Second World War.

Back then England had “11-plus” exams, which were used to determine children’s abilities so they could be streamed toward either academics or more practical training. Bob Gannicott passed on the bright side, winning a scholarship to a local grammar school, which led to university.

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