Diamonds – Mining, Lab-Grown and Conflict/Blood – Page 48

This Canadian company found the largest diamond in 100 years – by Steven Threndyle (Canadian Business Magazine – June 28, 2016)

June 28, 2016

http://www.canadianbusiness.com/

Vancouver’s Lucara Diamond is auctioning off the 1,109-carat Lesedi La Rona diamond, and investors are betting on more exceptional finds

If you own stock in Lucara Diamond Corp. (TSX: LUC), chances are the date of June 29, 2016, looms large in your calendar. That’s the day when Lucara’s monster rough diamond—1,109 carats and “roughly the size of an avocado”—is going up for auction by Sotheby’s International Jewellery Division in London, England.

News of Lucara’s discovery of the Lesedi La Rona diamond (it was named in a national contest held in Botswana and translates into “our light” in the Tswana language) has helped invigorate a mining category that has languished in the wake of a global recession, not to mention a campaign by Blood Diamond star Leonardo DiCaprio to promote synthetic alternatives to alleviate working conditions of miners in Africa.

Canadian Rich New Diamond Mine Ready to Sparkle: The Five-Minute Interview: Patrick Evans – by Avi Krawitz (Diamonds.net – June 23, 2016)

June 23, 2016

http://www.diamonds.net/

RAPAPORT… Gahcho Kué, billed as the largest and richest of the new diamond mines, is now “weeks rather than months” from launching more than 20 years after it was first discovered in Canada’s Northwest Territories. Patrick Evans (pictured below), president and chief executive officer of Mountain Province, took time out to speak with Rapaport News about the prospects for the mine, which Mountain Province co-owns with De Beers, and what the diamond market can expect from this new source of rough.

Rapaport News: When will you hold your first sale given that production is slated for the third quarter?

Patrick Evans: Sales will depend on how quickly production builds up. It will take the processing plant around six months to reach commercial production, which is about 70 percent of capacity. We expect to take about eight months to reach full capacity.

India wants private sector to explore for diamonds, gold – by Krishna N. Das (Reuters India – June 20, 2016)

June 20, 2016

http://in.reuters.com/

NEW DELHI – India is seeking the participation of Rio Tinto and Anglo American’s De Beers to explore for diamonds and gold, part of Prime Minister Narendra Modi’s ambition to make the country a major mineral producer, the mines secretary said.

Balvinder Kumar told Reuters on Monday that the Indian government will start to auction the rights to up to 70 diamond and gold exploration zones to mining companies this year.

India stopped producing diamonds years ago and produces only a small amount of gold, although it is the world’s second-biggest consumer of the yellow metal. Modi wants to revive the sector, with most of the exploration and production conducted by the private sector. The blocks that will go on sale are among 100 mineral zones identified by the state-run Geological Survey of India following an aerogeophysical assessment.

[De Beers and diamond mining] Eye-opening Attawapiskat documentary a labour of love for Ottawa filmmaker – by Evelyn Harford (Ottawa Citizen – June 17, 2016)

June 20, 2016

After The Last River – Official Trailer from Victoria Lean on Vimeo.

http://ottawacitizen.com/

Nearly eight years ago, Ottawa-raised documentary filmmaker, Vicki Lean, immersed herself into the Attawapiskat First Nation. Three states of emergency later, she came away with a documentary film that exposes the reality of living down stream from an open-pit diamond mine.

After the Last River, which begins a three-day run at the ByTowne Cinema Sunday, delves headfirst into what mineral extraction from the De Beers Victor diamond mine has meant for Attawapiskat. The eye-opening documentary provides an intimate glimpse into the complex issues that underpin systemic poverty and crisis in the remote northern community, situated on the edge of James Bay.

Living on top of a Siberian diamond mine – by Andrei Iskrov (Russia Beyond The Headlines – June 17, 2016)

June 17, 2016

http://rbth.com/

The entire existence of Mirny, Russia, revolves around the enormous pit that is the town’s diamond mine. The precious stones attract a steady flow of newcomers looking for work, but the town’s residents are divided when it comes to their feelings: While some say Mirny is the best place in the world, others feel trapped in it.

The city of Mirny, located in one of Russia’s coldest and most remote regions, exists for one reason and one reason only – diamonds. Indeed, the place owns its very name to the giant pit on the periphery of the town: the Mir (“Peace”) diamond mine, located on one of the world’s richest diamond deposits.

Mirny (Russian for ‘peaceful’) was built in the 1950s, growing around a diamond mining operation started by the Soviet government after several rich diamond fields were discovered in the Siberian republic of Yakutia, located above the Arctic Circle some 5,280 miles east of Moscow, with winter temperatures going as low as -94° F.

NEWS RELEASE: ALROSA recovers a 241.21-carat diamond

June 17, 2016

http://eng.alrosa.ru/

Mirny, June 16, 2016 – PJSC ALROSA, the world leader in diamond mining, announces the recovery of a 241.21-carat rough diamond from Nyurbinskaya pipe.

It is one of the largest rough diamonds recovered in the Russian Federation and the third largest among those found at Nyurba Mining and Processing Division.

The crystal measures 38.64 mm by 27.34 mm by 25.46 mm, and is translucent with a grey hue. Traces of dissolution–etching channels and caverns–are observed on the surface. The intermediate and peripheral zones contain large cracks, one of which is ferruginized. The crystal contains graphite and sulphide inclusions. The diamond is 4 Black Clivage/Makeable 2 colour.

INTRODUCING SPACE DIAMONDS: WHY YOU MIGHT WANT A MOISSANITE ENGAGEMENT RING – by Charlie Boyd (Harpers Bazaar U.K. – June 15, 2016)

June 16, 2016

http://www.harpersbazaar.co.uk/

Moissanite, a lab-created stone derived from outer space with similar properties to diamonds, is proving an affordable alternative to traditional engagement rings

We automatically associate engagement rings with the image of a diamond solitaire: sparkly, durable, highly valuable and hewn from the earth. Diamonds have a vast heritage; age-old, flecked with ethical complications, but they ultimately still resonate as the most-prized precious stones and therefore remain the favourite choice for wedding jewellery.

If, however, you trawl Instagram for engagement ring inspiration, you might be confused to see similar-looking sparkle with the hashtag #moissanite. Meet the diamond alternative seducing the Millennial jewellery market: a laboratory-created stone that doesn’t require mining, has similar chemical properties to diamonds and is a fraction of the price.

Diamonds Are Putin’s Best Bet to Entice Wary Investors to Russia – by Yuliya Fedorinova and Stephen Bierman (Bloomberg News – June 15, 2016)

June 15, 2016

http://www.bloomberg.com/

President Vladimir Putin is trying to woo foreign investors into the battered Russian economy by offering a chunk of the world’s biggest miner of diamonds.

Russia needs cash to help fill a hole in its budget, the result of a collapse in revenue from plunging oil prices. Putin has proposed selling stakes in state-controlled companies including banks and oil producers. At a time when global money managers remain wary, the one asset that may hold the most appeal is a stake in Alrosa PJSC, valued at more than $860 million.

The company, owned 44 percent by the federal government, is the world’s largest producer of rough diamonds and had record profit of 49.2 billion rubles ($750 million) in the first quarter. The shares are up 23 percent this year. While the timing of the sale hasn’t been announced, Economy Minister Alexey Ulyukaev says Alrosa is a “good candidate” to be one of the first on the auction block.

[Diamonds/DeBeers] No Slogan Is Forever – by Stephen Rego (Business World India – June 14, 2016)

June 14, 2016

http://businessworld.in/

The number 1 advertising slogan of the last century, the iconic ‘A Diamond is Forever’, will henceforth no longer be the vanguard message of the diamond industry as the Diamond Producers Association unveils a new platform to redefine diamonds for the millennial generation.

A little over a week ago, the Diamond Producers Association (DPA), an organisation set up last year by the world’s largest diamond mining companies, including De Beers, revealed that it would be adopting a new campaign platform to promote diamonds among the millennial generation. That new platform is “Real is Rare. Real is Diamond”.

Thus, ‘A Diamond is Forever’, the four words that were the cornerstone of all global marketing campaigns launched by De Beers in various parts of the world since 1948, will now no longer enjoy a monopoly in generic promotions, though they will probably still be used by De Beers to push its own Forevermark brand of diamonds and diamond jewellery.

The reason for the shift, the DPA says, is to redefine diamonds for the 21st century, giving them new meaning and aligning them with the perceptions and thinking of the new millennial generation.

Zimbabwe villagers displaced by diamond mining hope to see action from government – by Andrew Mambondiyani (Reuters U.S. – June 13, 2016)

June 13, 2016

http://www.reuters.com/

MUTARE, Zimbabwe (Thomson Reuters Foundation) – Villagers re-located to a sprawling government-owned farm complex in eastern Zimbabwe to make way for the nation’s biggest diamond field are hoping that President Robert Mugabe’s move to take control of the valued resource will benefit them.

More than 1,000 families were moved in 2009 from a village adjacent to the Chiadzwa diamond field in Marange to Arda Transau, a 12,000 hectare farm settlement about 40 km (25 miles) to the north with promises of a better life.

Arda Transau was billed as a new township with tarred roads, shops and health clinics – but seven years later the villagers say they have yet to see the promised education and health facilities while their homes are crumbling and food is scarce.

Dominion beats fiscal Q1 forecasts despite lower sales, Misery production ahead of plan – by Henry Lazenby (MiningWeekly.com – June 9, 2016)

June 9, 2016

http://www.miningweekly.com/page/americas-home

TORONTO (miningweekly.com) – The NYSE-quoted stock of Canadian diamond producer Dominion Diamond Corp on Thursday rose more than 7% to $11.64 apiece after the company late on Wednesday reported a net loss beating analyst expectations.

The Yellowknife, Northwest Territories-headquartered miner, which owns an 89%-stake in the Ekati mine and is in a 40/60 joint-venture partnership with mining major Rio Tinto at the Diavik mine, reported a net loss attributable to shareholders in the quarter ended April 30 of $1-million, or $0.01 a share, compared with a net income of $12-million, or $0.14 a share diluted a year earlier.

Wall Street analysts had on average expected a loss of $0.10 a share. Dominion reported a 5% year-over-year decline in revenue to $178.3-million. It explained that despite declaring commercial production at the Misery Main kimberlite pipe ahead of schedule in May as a result of changes to the prioritisation of mining activities during the quarter, the transitional period at Ekati continued to impact earnings.

[Zimbabwe diamonds] Women Brave Challenges To Scrape A Living In Mining – by Dumisani Nyoni (Radio Voice Of The People – June 8, 2016)

June 9, 2016

http://www.radiovop.com/

Bulawayo, June 09, 2016 – The face of Nomusa Dube, 40, is dusted red with soil as she and her five female colleagues take a brief lunch break. They have been working since dawn on their gold claim in Esigodini, 49 kilometres from Bulawayo along the Bulawayo-Beitbridge road.

She joined the male-dominated industry in 2014 after her husband succumbed to cancer in 2013. “By that time, I saw my world crumbling as I had nowhere to turn to. Two of my children were at high school and three at primary level. Therefore, I was supposed to pay for their school fees, clothe and feed them,” Dube said, checking the sun’s position – a traditional old practice of estimating time – ready to go back to work.

She tried vending in Bulawayo, but with little success. Low returns, and constant raids from municipality police confiscating their wares sucked her strength. In 2013, government invited women to take up mining to supplement their living and Dube was one of the first to respond.

DPA REVEALS ‘REAL IS RARE’ NATURAL DIAMOND MARKETING CAMPAIGN (Diamond Intelligence.com – June 5, 2016)

June 6, 2016

http://www.diamondintelligence.com/

The Diamond Producers Association (DPA), the organization formed last year by the major diamond mining companies to promote the natural diamond industry, unveiled its new marketing platform for diamonds during a special presentation to members of the jewelry industry at the JCK show in Las Vegas. The DPA team, led by CEO Jean-Marc Lieberherr, outlined plans for the first category marketing campaign in over 5 years and the very first from the DPA.

“The new platform “Real is Rare” is the result of six months of development,” says the DPA, including in-depth research into its target: millennial consumers. The platform emerges from deep insight work with the millennial audience revealing that while diamonds do have appeal for this generation, relevance and emotional engagement can be heightened via new concepts.”

Continues DPA: “Our research reveals that Millennials long for real, lasting connections with others, but struggle to make them – or to feel sure they are truly authentic – in a world of constant flux, seemingly limitless choice, and superficial interactions.

Digging for the missing $15 billion of diamond revenue in Zimbabwe – by Elisa Peter (Huffington Post – June 2, 2016)

June 3, 2016

http://www.huffingtonpost.com/

Elisa Peter is the Executive Director of Publish What You Pay.

When President Mugabe announced on his 92nd birthday, 21st February 2016, that $15 billion worth of revenues generated by the diamond industry had gone missing, the majority of Zimbabweans believed him. Zimbabwe is among the world’s ten largest producers of diamonds.

It is also one of the world’s poorest countries, ranked 156 in the 2014 Human Development Index. Every year, it extracts 4,7 million carats of diamonds, enough to produce millions of engagement rings for enamoured couples around the world. But do people in Zimbabwe benefit from this natural wealth? The answer is a resounding no.

Zimbabwe is not an isolated anomaly. Revenues generated by mining around the world have gone missing for years, the results of a vast and complex web made of illicit financial flaws, tax evasion and disrespect for the rule of law.

Sculptor of stolen $5M solid gold, diamond-encrusted eagle statue fears it will be melted down – by Douglas Quan (National Post – June 1, 2016)

June 2, 2016

http://news.nationalpost.com/

B.C. sculptor Kevin Peters turned on the TV news Monday at noon and was startled to see an image of a one-of-a-kind eagle statue he had crafted several years ago.

At that moment, the phone rang. Ron Shore, the businessman who commissioned the piece of art, was on the other end. He wasn’t his usual self. He sounded defeated.

“I lost the eagle,” Peters recalled him saying. Peters learned that Shore had been violently robbed of the solid-gold statue late Sunday in a residential neighbourhood in Ladner, a suburb south of Vancouver. “That took a minute to sink in,” he said. Official details of how the robbery went down remain murky.