Diamonds – Mining, Lab-Grown and Conflict/Blood – Page 49

Goldcorp Inc makes first move into Arctic with $520 million deal to buy Kaminak Gold Corp – by Peter Koven (Financial Post – May 13, 2016)

May 13, 2016

http://business.financialpost.com/

The $520-million sale of Kaminak Gold Corp. marks yet another success for mining entrepreneur Eira Thomas, whose companies have been on a major winning streak of late. “I’m really fortunate that I’ve had the opportunity to be involved in some terrific projects,” Kaminak’s chief executive said in an interview.

Ms. Thomas, 48, is known as the “Queen of Diamonds” because she discovered the Diavik diamond mine in the Northwest Territories in 1994. But her recent track record is just as notable.

She co-founded Lucara Diamond Corp., which made headlines around the world last year when it discovered the second-largest gem-quality diamond in history. Stornoway Diamond Corp., which she co-founded and led for several years, is close to bringing Quebec’s first diamond mine into production. They are two of the mining sector’s only bright spots of the past few years.

CUTTING REMARKS: Why the NGOs and Dubai Still Can’t Get Along – by Rob Bates (JCKonline.com – May 12, 2016)

May 13, 2016

http://www.jckonline.com/

A worrisome sign about whether all sides in the Kimberley Process can continue to work together

There have been so many feuds and boycotts and crises in the Kimberley Process over the years that it can be difficult keeping up with them all, never mind caring. But recently, mediation that attempted to end civil society’s boycott of this year’s KP meetings came to a premature halt, which represents a worrisome sign about whether the various sides in the KP can continue to work together—and more importantly, whether the industry can continue to reform itself.

Last year, the KP civil society coalition—composed of the 11 human rights groups that participate in the KP—announced plans to boycott this year’s KP meetings after frequent antagonist United Arab Emirates ascended to the position of chair. Afterward, the World Diamond Council commenced silent talks between the NGOs and UAE to end the spat. This week, those talks broke down.

As a result, not only did the two sides fail to bridge any gaps, but now relations between the two are as bitter as ever. (A spokesperson for the UAE KP chair declined comment.)

[South Africa] Search for gems gets deeper as industry adapts (Business Day – May 9, 2016)

May 9, 2016

http://www.bdlive.co.za/

PROOF that diamonds are getting harder to find can be seen in the South African bush, where one of the world’s biggest mining companies is spending $2-billion tunnelling under an open-pit mine.

De Beers spent 25 years digging a 450m deep by 1km wide hole to access diamond-rich rock from the surface at the Venetia mine, close to the border with Zimbabwe and Botswana.

Now a new underground mine is being constructed underneath the hole to reach diamonds more than 1,000m below ground — a big bet by De Beers that their investment will reap decades of profit. “We are in very challenging times,” Ludwig Von Maltitz, the mine’s GM, says. “Worldwide, the easier diamond sources have probably been found, but with this resource here, we hope we have something that can extend well into the future.”

Diamond the size of a tennis ball found in Canadian-owned mine could fetch C$90M – by Diana Mehta (Canadian Business Magazine – May 4, 2016)

May 5, 2016

http://www.canadianbusiness.com/

The Canadian Press – A three-billion-year-old diamond the size of a tennis ball could fetch more than C$90 million when the Canadian mining company that unearthed it puts the rock up for auction this summer.

But the first person to lay eyes on the whopping gem barely gave it a glance, the CEO of Vancouver-based Lucara Diamond Corp. recalled Wednesday, as the eye-popping estimate for the precious stone was issued by auctioneer Sotheby’s.

“He’d only been working for us for two weeks, so he sees the thousand carats and goes ‘oh, this must be normal,’” William Lamb told The Canadian Press. “He didn’t tell anybody. It was only when the chief saw it that there was this huge commotion on site.” The diamond was unearthed in November, at the Karowe mine in Botswana that’s owned by Lucara (TSX:LUC).

NEWS RELEASE: Victor Mine Wins John T. Ryan National Safety Award

May 4, 2016

De Beers Ontario Operation Reported Zero Lost Time Injuries During 2015

CALGARY, May 3, 2016 /CNW/ – De Beers Victor Mine, Ontario’s first and only diamond mine, is the recipient the national John T. Ryan Award for 2015, Canada’s most celebrated award for mine safety. The award was presented at the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Awards Gala in Vancouver, B.C. on May 2.

Victor Mine received the award in the Select Mines category in recognition of its outstanding safety performance in 2015. During the year, the Victor Mine team had zero Lost Time Incidents (LTIs) and recorded the lowest overall reportable injury rate among all mines in Ontario.

Kim Truter, De Beers Chief Executive Officer, Canada, congratulated the Victor team for their outstanding safety performance.

OPINION: Zimbabwe: China’s Pains Over Zimbabwe’s Indigenisation Project – by Yun Sun (All Africa.com – April 26, 2016)

April 27, 2016

http://allafrica.com/

ZIMBABWE clamped down with the enforcement of its controversial indigenization law–requiring foreign companies with assets of more than $500,000 to transfer or sell 51 percent stake to indigenous Zimbabweans this month.

The deadline of April 1 had been set earlier in March in accordance with the controversial 2008 indigenization law requiring foreign companies to submit plans for such indigenization or face the risk of closure.

Zimbabwe is serious: According to the minister of youth and indigenization and economic empowerment, Patrick Zhuwao, the government is determined to implement the policy because it was elected in 2013 through “promised indigenisation and empowerment”.

Lack of money isn’t Attawapiskat’s problem – by Lorne Gunter (Calgary Sun – April 19, 2016)

April 21, 2016

http://www.calgarysun.com/

The mining company has also done over $350 million in business
with companies at Attawapiskat since 2006 to supply DeBeers with
helicopters, camp catering, fuel, dynamite and other supplies.
Many of those businesses are owned by the band.

Let’s be clear, what’s going on in the Northern Ontario First Nation of Attawapiskat is awful – the attempted suicides, the suicide pacts, the decrepit housing and foul water, the chronic unemployment, substance abuse and general despair.

But let’s be equally clear: a legion of government social workers flown in from down south, visits by consoling cabinet ministers, emergency Parliamentary debates and a few barge loads more of taxpayer dollars aren’t going to make an ounce of difference. Because the problem is neither lack of government nor lack of other people’s money.

Koh-i-noor: India says it should not claim priceless diamond from UK (BBC.com – April 19, 2016)

April 19, 2016

http://www.bbc.com/

The Indian government has told the Supreme Court that it should not try to reclaim the priceless Koh-i-noor diamond from Britain.

The gemstone came into British hands in the mid-19th Century, and forms part of the Crown Jewels on display at the Tower of London. Ownership of the famous gem is an emotional issue for many Indians, who believe it was stolen by the British. But the solicitor-general said it was “neither stolen nor forcibly taken”.

Ranjit Kumar said the 105-carat diamond had been “gifted” to the East India company by the former rulers of Punjab in 1849. The case is being heard by the Supreme Court after an Indian NGO filed a petition asking the court to direct the Indian government to bring back the diamond.

Mugabe looks to nationalize Zimbabwe’s diamond industry – by Enu Afolayan (Africa Middle East.com – April 19, 2016)

April 19, 2016

http://africa-me.com/

Zimbabwe’s longtime President, Robert Mugabe, has announced the state will seize all of the nation’s diamond mines.

Zimbabwe’s controversial President, Robert Mugabe, has announced a massive change to the country’s diamond mining industry, in that all assets will now be state owned. In a move that is a throwback to his socialist roots, Mugabe claims that foreign mining companies have profiteered for too long off one of the nation’s most valuable commodities and he will ensure that the nation now reaps the rewards from its diamonds.

Mugabe gave an interview in early March to the state broadcaster ZBC, during which he expressed his anger at what he sees as foreign companies plundering Zimbabwe for a precious, natural resource.

GET ENGAGED: How to propose with an engagement diamond as rock-solid as your ethical values – by Jenni Avins (Quartz – April 14, 2016)

April 14, 2016

http://qz.com/

Few purchases are as fraught as a diamond engagement ring. Frequently the most expensive accessory we ever buy, engagement rings carry the totemic weight of representing one’s love and commitment, and are meant to be timeless in their perfection as we gaze upon them forevermore.

And yet, although the sellers of those diamond rings can rhapsodize endlessly over a ring’s design and the cut, clarity, color, and carat size of the rock inside it, it’s rare that they disclose that diamond’s origins.

This despite the relatively common knowledge that diamonds have helped finance unspeakable violence in war-torn countries, lined the pockets of corrupt billionaires, and wreaked environmental havoc all over the world.

All that said, many of us still want diamonds.

Status quo for First Nations isn’t working – by Christina Blizzard (Toronto Sun – April 13, 2016)

April 14, 2016

http://www.torontosun.com/

TORONTO – I’m grateful former prime minister Jean Chretien mused this week that people in Attawapiskat should move.

Asked about the state of emergency over a spate of suicides in the beleaguered James Bay first nation, Chretien, who once served as what was then called Indian Affairs minister, said: “People have to move sometimes. It’s desirable to stay if they want to stay but it’s not always possible.”

That struck a chord with me because earlier this week, provincial Aboriginal Affairs Minister David Zimmer had waxed on about the terrible conditions in Attawapiskat — the despair, the isolation, the lack of economic opportunity. I asked Zimmer the obvious question: Is the community sustainable? He got quite huffy.

“These communities have lived in the remotes in Attawapiskat and other places in the far north for thousands of years,” he said.

World’s Once-Biggest Gem Field Idle as $13 Billion Said Gone – by Godfrey Marawanyika (Bloomberg News – April 13, 2016)

April 13, 2016

http://www.bloomberg.com/

At Zimbabwe’s biggest diamond field, cattle that strayed through a sagging fence graze unattended near idled dump trucks and conveyors as police stop and check visitors’ vehicles for clearance.

Security forces and state-owned Zimbabwe Consolidated Diamond Co. on Feb. 22 took over the deposits in Marange, the biggest source of diamonds by volume in 2013, according to industry analyst Paul Zimnisky.

The seizure came as President Robert Mugabe said that illicit trade in the stones has cost the economy, which has halved in size since 2000 as farm seizures slashed crop exports, more than $13 billion. The nation is the world’s biggest platinum producer after South Africa and also has chrome, gold and iron ore.

‘Shocked the world’: Suicide crisis at Attawapiskat reverberates in rare emergency debate – by John Ward (National Post – April 13, 2016)

April 13, 2016

http://news.nationalpost.com/

The Canadian Press – OTTAWA — The misery and neglect at the root of a suicide crisis on a remote northern First Nation has “shocked the world,” an NDP MP said Tuesday as the cascading tragedy in Attiwapiskat reverberated on the floor of the House of Commons.

No one can understand “how a country as rich as Canada can leave so many young children and young people behind,” said Charlie Angus, whose sprawling northern Ontario riding includes the deeply troubled and isolated aboriginal community.

“Will this minister commit to a total overhaul to ensure that every child in this country has the mental health supports that they need to have hope and a positive future?

De Beers’s diamond sales sparkle – by Allan Seccombe (Business Day – April 13, 2016)

April 13, 2016

http://www.bdlive.co.za/

DE BEERS, an Anglo American subsidiary, has notched up its third consecutive increase in rough diamond sales, with analysts forecasting a better-than-expected performance from what will be a major business in the Anglo stable.

Anglo has told the market it will focus on just 16 mines in diamonds, platinum, and copper, cutting its portfolio of 55 assets, as it strives to make inroads into about $13bn of debt, a number it wants to more than halve within four years.

De Beers, the world’s largest rough diamond producer by value, has undertaken a number of measures to correct a damaging market imbalance, with the cutting and polishing segment clogged with rough diamonds, a situation exacerbated by subdued diamond jewellery demand last year.

NIRB says no to Nunavut diamond project (Nunatsiaq News – April 7, 2016)

April 7, 2016

http://www.nunatsiaqonline.ca/

Project should be “modified or abandoned,” review board says

The Nunavut Impact Review Board has recommended a diamond exploration project in the Kivalliq region be revised or scrapped due to local social and environmental concerns.

“The project has the potential to result in unacceptable adverse ecosystemic and socio-economic impacts,” the NIRB said in a screening decision issued April 4.

On its proposed Kahuna Diamond Project, located about 54 kilometres northeast of Rankin Inlet and 35 km southwest of Chesterfield Inlet, Dunnedin Ventures Inc. planned to conduct year-round diamond exploration from March 2016 to March 2018.