GJ Town India

  Eye to produce 12 million carats in 2023   The National Diamond Company of Angola (Endiama EP) plans to increase its production to 12 million carats in 2023, surpassing last year's result, which recorded a figure of around nine million carats.   According to the Chairman of the Board of Directors of Endiama, Ganga Júnior, achieving this goal will essentially depend on improving the production structure of the mines in operation and launching new exploration projects.    Speaking to the press, on the sidelines of the working visit that the heads of the Institute for the Management of Assets and State Participations (IGAPE) carried out to the state-owned diamond company, the manager also pointed out the continuous transformation of the functioning of small cooperatives in industrial activities as another challenge for 2023.   In this regard, he added, the company has already registered success stories, whose semi-industrial activities in the field of mining, which were init

Rough diamond price rock over by 40%   Lucapa Diamond Company Limited presented its unaudited financial results for the year ended 31 December 2021. During the period, record operational performances from both SML and Mothae diamond mine with record volumes processed, carats recovered & sold and exceptional diamond recoveries. Lulo exploration sampling includes the discovery of 13 diamonds from the Canguige catchment area, including eight Type IIa diamonds, three new high-interest targets identified at Brooking, WA and successful completion of a A$21.7 million capital raising to fund the 100% acquisition of Merlin diamond mine, expedite exploration programs, advance feasibility studies and general working capital. The completion of the acquisition of Merlin for a total consideration of A$8.5 million and release of Scoping Study showing strong economics for a long-life mine. Lucapa Diamond published the Merlin Scoping Study demonstrating strong economics for a long-life mine:    1

BOD Cooperation agreement to fast-track Botswana diamond exploration!   Botswana Diamonds (BOD), announce that it has entered into a cooperation agreement to fund exploration of its prospecting licence assets in Botswana with Diamexstrat Botswana Pty Ltd (DESB), which in turn has an alliance agreement with Burgundy Diamond Mines Limited. BOD’s prospecting assets comprise the recently acquired Sekaka Diamonds Exploration Pty Ltd database and Prospecting Licenses, as well as the Prospecting Licences held by BOD’s subsidiary, Sunland Minerals Pty Ltd.   DESB can earn up to a 70% interest in BOD’s Botswana Sunland Minerals and Sekaka’s Prospecting Licences BOD can earn a 15% interest in Prospecting Licences held by DESB (and partners) on the first US$1.5m spent on exploration by DESB where BOD’s database assists in the discovery of a primary kimberlite.   On 3rd party Prospecting Licences where targets are identified in BOD’s database, a joint earn-in will be negotiated at the time, ro

6,518,261 carats of diamond recovered during FY 2020 3,329,289 carats sold at an average value of US$51 per carat  Mountain Province Diamonds announces production and sales results for the fourth quarter ended December 31, 2020 from the Gahcho Kué Diamond Mine. 9,796,823 total tonnes mined during the quarter, a 12% decrease on comparable period of Q4 2019 had recorded for 11,089,408. 35,870,474 total tonnes mined during FY 2020, a 17% decrease from comparable period of FY 2019 which had registered 43,224,827.   1,521,617 carats recovered during the quarter at an average grade of 2.07 carats per tonne, 23% lower than comparable quarter (Q4 2019: 1,977,438 carats at 2.11). 6,518,261 carats recovered during FY 2020 at an average grade of 2.01 carats per tonne, 4% slightly lower than comparable period (FY 2019: 6,820,631 carats at 1.90). According to Mountain Province Diamonds Q4 and FY 2020 diamond sales report, Q4 2020 diamond sales totaled 957,120 carats sold at an average value of

Sales rough worth US$5.6m at US$1,198 per carat Lucapa Diamond Company Limited and its partner, the Government of the Kingdom of Lesotho, are pleased to provide an update on the first sale of diamonds in 2021 from the Mothae kimberlite mine in Lesotho. The parcel of 4,676 carats of rough diamonds were sold for a total of US$5.6 million (A$7.2 million) or US$1,198 per carat (A$1,537 per carat). This is the highest average US$ per carat price achieved by Mothae on the sale of any run of mine production parcel. The sale included a number of Specials (diamonds weighing >10.8 carats), including the 101 carat D colour diamond recovered following re-opening of the mine in Q4 2020, which is the most valuable diamond recovered to date at Mothae.   Lucapa Managing Director, Stephen Wetherall commented “Following a tough 2020, where both of our mines were impacted by the pandemic, our valued teams have shown their resilience and operations have bounced back strongly, the good recoveries at bot

Merlin kimberlite diamond mine Located in the Northern Territory, Australia Lucapa Diamond Company continues to identify and review prospective diamond development projects that offer near term production and value enhancing opportunities for its shareholders.   In that regard, Lucapa advises that it is participating in the sale process being conducted by the liquidators of Merlin Diamonds Limited (in Liquidation) (MDL) to acquire certain assets of MDL, which include the Merlin kimberlite diamond mine (Merlin) located in the Northern Territory, Australia.   The Lucapa Board considers that Merlin would be complementary to the Company’s existing niche operating mines and exploration projects in Angola, Australia, Botswana and Lesotho and is a development opportunity that would significantly benefit from the proven capability of Lucapa’s experienced development and operational teams.  Merlin is a multi-pit mine development opportunity with underground mining potential and is home to Aus

72 chromites recovered from recent loam and stream sampling Sampling results indicate the presence of three new lamproites   Lucapa Diamond Company reports the positive results from the latest sampling work carried out at the Brooking Diamond Exploration Project in Western Australia’s West Kimberley lamproite province which included the recovery of a total of seven diamonds, of which two are macro-diamonds (>0.5mm diameter).   A total of 72 chrome spinels (or chromites), visually identified as a type associated with lamproites, were also recovered from loam and stream sampling. A follow up exploration program involving heavy mineral stream and loam sampling complemented with soil geochemistry sampling was undertaken at Brooking over six identified target areas. Strong Likelihood of Lamproite Pipes: The results of this sampling indicate the presence of three new lamproites with two targets showing similar soil geochemistry to previously discovered lamproites at Brooking.  As pe

Revised production outlook 2020 to 30mn Ct Previous 2020 guidance was of 34mn Ct   Alrosa, a global leader in diamond mining, announces its IFRS results for Q3 and 9M 2020 & that says, in by 5x q-o-q to RUB 49.7 bn which is up by 9% y-o-y, due to demand recovery following a significant drop in diamond supply in Q2 amid the pandemic. EBITDA in Q3 reached RUB 25.7 bn over the Q2’2020 of RUB 117 m, on the back of sales rebound and cost control initiatives, while also increasing by 22% compared to Q3 2019. EBITDA margin in Q3 expanded to 52% which was recorded of 46% in Q3’2019.   “From mid-August we started to see the first signs of recovery in the diamond market followed by a stronger demand for our core products. This was due to two key factors. The first one is the maximum support for our long-term customers by allowing them to refrain from buying volumes under effective contracts, which helped them significantly reduce stocks at the midstream.   The second one is recovery

Alrosa improved loans and borrowings position!  Alrosa repaid its USD 494 million 10-year Eurobond from own funds. In 2018–2019, the Company redeemed part of this 2010 issue for a total of USD 506 million. With that, Alrosa’s USD 1 billion Eurobond issue with a coupon rate of 7.75% per annum placed in November 2010 have been fully repaid. Thus, Alrosa has improved its loans and borrowings position to USD 2.3 billion.  Alrosa has two outstanding Eurobonds (issued in 2019 and 2020) for USD 500 million each with maturities in April 2024 and June 2027 and coupon rates of 4.65% and 3.1% per annum respectively.  The Company enjoys investment grade ratings from three major international rating agencies-SS&P Global Ratings (BBB-), Fitch Ratings (BBB-) and Moody's (Baa2), all affirmed this June.

  Sales 956K carat in 3Q   Update 1: Recently Mountain Province Diamonds announces third quarter and nine months ended September 30, 2020 announced its financial and operating results for the Q3 2020 and nine months ended September 30, 2020. All figures are expressed in Canadian dollars unless otherwise noted. At the time Q3 is focussed.   According to the Operational Highlights for Q3 2020, about 821K tonnes treated, an 8% decrease from the 891K tonnes treated in Q3 2019 at Mountain Province. Overall 1,795,000 carats recovered at an average grade of 2.19 carats per tonne, a 17% increase compared to the 1,528,000 carats recovered at 1.71 carats per tonne of Q3 2019. 9,881,000 total tonnes mined, a 16% decrease from 11,742,00 total tonnes mined in Q3 2019. From the Financial highlights for Q3 2020 it is learned that the revenue from 956,000 carats sold at $47.3 million (US$35.3 million) at an average realised value of $50 per carat (US$37) compared to $54.8 million from 791,000 car

  Lucapa sales over 10K carats year to date   Lucapa Diamond Company Limited presents its activities report and results for the Quarter ending 30 September 2020, Q3 2020 with Lucapa’s operational highlights for the Quarter include, 1: Record Quarter diamond production at Lulo with 9,387 carats recovered, 2: Bulk sampling completed at L071 and L072 resulting in the recovery of 1.33 carats from L071 including a 0.25 carat Type IIa diamond.   3: Completion of three diamond sales by SML, realising US$11.6m (A$16.3m), 4: Restructuring of the group’s borrowings successfully completed, 5: Approval of the Mothae kimberlite mine restart plan, 6: New diamond marketing channel approved by the Government of Lesotho, 7: ~280% increase in the Indicated Resource at Mothae.   SML’s operations at Lulo were partially impacted during the Quarter by the State of Emergency implemented in Angola because of the Covid-19 pandemic and presidential decrees regulating personnel movement. However, the Lulo

Standalone tender for Letlapa Tala Collection in November   Petra Diamonds Limited announces the following unaudited Trading Update for the three months ended 30 September 2020, Q1 FY 2021. Q1 production down 10% to 974,346 carats against the same period-Q1 FY 2020 had remained of 1,082,764 carats, mainly due to the Williamson mine remaining on care and maintenance.   Q1 revenue increased 33% to US$82.0 million over the Q1 FY 2020 of US$61.6 million, mainly due to the release of inventory carried over from Q4 FY 2020. Although diamond prices increased ca. 21% on a like-for-like basis at the September 2020 tender in comparison to the prices obtained following the Covid-19 outbreak, with a further ca. 2% increase at the October 2020 tender post Period end, prices are still down around 10% in comparison to pre-Covid-19 levels.   Due to ongoing uncertainty around the impact of Covid-19, production guidance for FY 2021 remains suspended. While the mines are generally operating at plan