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45Cts Type IIa white diamond earns the highest price per carat   Lucapa Diamond Company Limited announces that four Type IIa Lulo diamonds sold for a total of US$2.67m at a tender hosted by Sodiam E.P in Angola. The 120 Carat (Cts) parcel consisted of two white Type IIa diamonds weighing 45 carats and 28 carats and two pink Type IIa diamonds weighing 27 carats and 19 carats.   The parcel averaged approximately US$22,150 per carat with the 45 carat Type IIa white diamond attracting the highest price per carat.   Lucapa Managing Director and CEO Alex Kidman commented, “This tender continued to show the resilience and value of Lulo’s stones in the current diamond market, with the strong prices achieved in line with our expectations. Lulo’s production continues to be highly sought after and we look forward to having more successful tenders in the New Year”.  

Now developing Saskatchewan's resources 3Q 2024 results   Star Diamond Corporation reports that the unaudited financial results for the quarter ended September 30, 2024 (3Q). In their overview 3Q 2024 results said, Star Diamond Corporation is a Canadian natural resource company focused on exploring and developing Saskatchewan's diamond resources.    Star Diamond holds a 100% interest in the Fort à la Corne Project which includes the Star – Orion South Diamond Project located in central Saskatchewan, Canada. These properties are in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The Company also holds a 100% interest in the exploration and evaluation properties and assets of the Buffalo Hills Diamond Project, that is; Star Diamond Corporation Completes Acquisition of Buffalo Hills Diamond Project.    Located approximately 400 kilometres...

Mountain Province rough diamond recovery lowered 10%!   Mountain Province Diamonds Inc announces financial results for the third quarter ended September 30, 2024- Q3 2024, from the Gahcho Kué Diamond Mine (GK Mine). Q3 2024 Key Takeaways are, 1: 679,599 carats were sold.    2: Revenue from 679,599 carats sold at $69.4 million (US$50.8 million) at an average realised value of $102 per carat (US$75) compared to $60.3 million from 478,653 carats sold in Q3 2023 (US$45.3 million) at an average realized value of $126 per carat (US$95).    3: Total sales revenue of $215.7 million (US$158.4 million) at an average realised value of $99 per carat (US$73) compared to $248.9 million in 2023 (US$184.9 million) at an average realized value of $138 per carat (US$103). 4: 1,187,912 carats recovered, 10% lower than Q3 2023 (1,326,610 carats recovered), Average grade of 1.24 carats per tonne treated, 18% lower than Q3 2023 (1.51 carats per tonne).    Mark W...

Focussing debt repayment of Convertible Notes in Q3 During the 3Q- third quarter, Burgundy focused on debt repayment of its Convertible Notes (totalling $23.6 million), mine extension activities at Misery underground mine, and completed 40% of its Sable underground prefeasibility study, upon which the decision was made to reschedule the project start date, due to positive Misery mine extension results.  Additionally, operations have started the transition from the Sable mine to the Point Lake open mine pit, which is being prepared for ore production in Q1-2025.  A special milestone for Ekati this quarter, was the recovery of the operation’s 100 millionth carat after twenty-six years of production, which is a significant achievement. The third quarter operational highlights said that 1.24 million carats of rough diamonds recovered; which is decreased by 9% over the Q3-2023 of 1.37 million carats of rough diamonds. Overall 1.42 million carats are sold over three sales events, wh...

The first & second tender of FY 2025 sold 600K Cts   Petra Diamonds Limited reported, Final sales results for Tenders 1 and 2 FY 2025. Sales for the first and second tender cycles of FY 2025 closed this week, yielding US$76 million from 600 kcts sold. Average prices increased 13% over Tender 7 FY 2024, with product mix contributing 22%, partially offset by a 9% decrease in like-for-like prices with weakness evident in the smaller size fractions.   Richard Duffy, Chief Executive Officer of Petra, commented, Following changes to the mine plans announced at our Investor Day, diamond production increased 7% from the previous quarter on the back of solid performances from Cullinan Mine and Williamson, with Finsch transitioning from continuous to a two-shift operation.  We recorded 4 LTIs, resulting in our LTIFR rate increasing to 0.28 from 0.13 in the previous quarter. This is of concern to us given our focus on delivering zero-harm workplaces, and we have impleme...

11th auction hammered and sold 1,493 carats of rough! The Angolan National Diamond Trading Company, Sodiam EP, auctioned this October 16, Wednesday 44 special rough diamond stones produced by the Mining Companies of Somiluana, Lulo, Kaixepa, Tchegi, Chitotolo, Luele and Catoca. The evaluation sessions took place from the 7th to the 15th of this month- October, at the Sodiam EP facilities in Luanda, and bids were submitted electronically on the online platform, October 16, 2024. The total net proceeds from the auction were US$12.9 million from the sale of 1,493 carats. The proceeds raised from this auction are distributed as follows: Somiluana (872.5 Thousand USD), LULO (3 Million USD), Tchegi (1.4 Million USD), Kaixepa (2 Million USD), Catoca (2.6 Million USD) and Luele (2.94 Million USD). A total of 37 companies participated in the auction, representing the world's main diamond markets and centers.  It should be noted that the current auction format, within the scope of the guidel...

Ekati reached a historic 100 million carat diamond produced   Burgundy Diamond announces that the Ekati Diamond Mine has reached a historic milestone of 100 million carats produced. As Ekati currently celebrates 26 years of production, this impressive achievement is a reminder of the quality of this long-life asset and everyone’s efforts, hard work, and dedication over the past two and a half decades.   Ekati has an impressive history as Canada’s first diamond mine and continues to rank in the top 10 producers world-wide, renowned for its high-quality, ethically sourced diamonds. Running a 24/7 365 days a year operation in a remote subArctic  location, takes ingenuity, grit, and resilience, which is a testament to the strength of our people.   “As we reflect on this historic achievement, Ekati continues the legacy as one of the premier diamond assets in the world in a tier one location producing highly sought after sustainably and ethically produced dia...

The event to take place on October 24 and 25 at Saurimo's Center   Economist Jorge Guedes defended, in Saurimo, that the Lunda-Sul government should see the 2nd International Diamond Conference (IDC) as an opportunity to attract investments for productive sectors, such as agriculture and commerce, taking advantage of the presence of the G7.   Speaking to Angop regarding the event to take place on October 24 and 25 at Saurimo's Diamond Development Center, the economist highlighted the importance of the economic potential and the "good" environment to be displayed for big companies to feel attracted to invest in the province.   He highlighted that the economic future of the Lunda-Sul province passes through the sectors of agriculture, commerce, tourism and hotels, since the region has potential that, if well explored, can generate wealth, jobs and revenue for the State, through tax taxes. According to Jorge Guedes, the presence of the group of the seven most...

Moving the commercial production of A21 Underground  mine   Rio Tinto’s Diavik Diamond Mine has safely completed the development and construction of Phase 1 of the A21 underground mine, now moving the underground mine into commercial production. Building on the success of the first phase, Phase 2 of the A21 underground project was approved earlier this year with an additional investment of US$17 million. The project will enable Diavik to maximise the value from its known resources through to closure.    The construction of the A21 underground mine involved the development of over 1,800 metres of underground tunnels to access the orebody and begin underground production. With safety as the core focus, there were no lost time injuries after more than 100,000 labour hours completed over 20 months during the development and construction work.    Chief Operating Officer of Diavik Diamond Mine Matt Breen said: “The A21 underground operation is positive news ...

The Ekati significantly reducing debt position   Burgundy Diamond Mines announces that it has successfully paid out its Convertible Notes totaling US$23.6 million, significantly reducing its debt position. Kim Truter, Burgundy CEO and MD, commented, “We had several options for our Convertible Notes, and we believe this was the best way forward for the Company.   We are pleased to take this major step in further strengthening our balance sheet. The fact we have opted to pay this out in cash highlights the strength and belief in our business and our optimism in the diamond market.” Michael O’Keeffe, Non-executive Chairman, added, “Despite being a countercyclical acquisition, the tier-1 nature of the mine and infrastructure has generated approximately A$196 million in EBITDA during the first 12 months of operations.   This is providing flexibility to both de-lever the balance sheet and develop the resource base to extend mine life. The Ekati asset continues to outpe...

  Lucara recovered 92,419 carats of diamonds in Quarter 2   Lucara Diamond reports its results for the quarter ended June 30, 2024. In the accordance with the result, Karowe registered the recovery of a 491-carat Type IIa diamond, a 225.6-carat Type IIa diamond, followed by the recovery of a 109-carat Type IIa diamond. A total of 76,387 carats of diamonds were sold, generating revenue of $41.3 million during the second quarter of 2024. A total of 92,419 carats were recovered during the quarter at a recovered grade of 12.9 carats per hundred tonnes (cpht) of direct milled ore. A further 8,349 carats were recovered from processing of historic recovery tailings.  The recovery of 206 Specials (defined as rough diamonds larger than 10.8 carats) equated to 6.9% by weight of the total recovered carats from Q2's ore processed which is in line with the Company's expectation.    William Lamb, President & CEO commented: "Lucara's performance this quarter reaffirms ...

  The tenth greater than 100 carat diamond recovered in 2024 Gem Diamonds announce the recovery of a 129.71ct Type II. White Diamond recovered at the Letšeng mine in Lesotho on late August 2024. This is the tenth greater than 100 carat diamond recovered in 2024. The Letšeng mine is located in the Maluti Mountains of Lesotho and is renowned for its recovery of large, high quality, exceptional Type II diamonds. Among these diamonds recovered are the 910 carat  Lesotho Legend, the 603 carat Lesotho Promise, the 550 carat Letšeng Star and the 493 carat Letšeng Legacy.  The Group owns the Letšeng diamond mine in Lesotho and the Ghaghoo mine in Botswana, with Head Offices in the United Kingdom and Sales and Marketing capabilities in Belgium and Innovation Solutions in Cyprus. Gem Diamonds continues to invest in its sales, marketing and diamond analysis operations to pursue ways of maximising revenue through a combination of marketing channels, including tenders, strategic part...

Ekati concluding with a final payment in Q3-2027   Burgundy Diamond Mines Limited confirm that the agreement with the surety providers in relation to the reclamation bonds has been formally concluded and signed by all parties, in line with previously agreed principles.     Burgundy is required to post security with key government agencies to ensure reclamation is completed across its mining properties, as required by relevant legislation in Canada and the Northwest Territories. The security is provided in the form of either cash, letters of credit or Surety Bonds (SB), or a combination of these. Significantly, Burgundy can confirm it has successfully concluded the renegotiated cash collateralisation payment schedule to extend over four years, consistent with Ekati’s current life of mine plan, versus the previous terms requiring full payment in Q2-2024. The revised cash collateralisation schedule  provides for quarterly instalments of ~US$11 million, concludi...

Average price per carat earned US$1,213 in 1H   The Board, management and key stakeholders in Lucapa have deep global diamond industry experience and networks all through the value chain from exploration to retail. Refer to the review of operations contained in the directors’ report of the Interim Financial Report for the six months ended 30 June 2024 and the subsequent events. The consolidated interim financial statements for the half year ended 30 June 2024 have been reviewed by the Company’s auditors.    Lucapa diamond miner and explorer with assets in Angola and Australia. It has an interest in the Lulo Diamond Mine in Angola which has been in commercial production since 2015. The large, high-value diamonds produced from Lulo attracts the highest prices per carat for alluvial diamonds globally.    Lucapa also has a 39% interest in the Lulo Kimberlite Exploration Joint-Venture, which is exploring for the potential primary source kimberlites at the prolifi...

Result of Mega Diamond Recovery XRT technology of Lucara    Lucara Diamond Corp is thrilled to announce the recovery of an exceptional 2,492 carat diamond from its Karowe Diamond Mine in Botswana. This remarkable find, one of the largest rough diamonds ever unearthed, was detected and recovered by the Company's Mega Diamond Recovery X-ray Transmission (XRT) technology, installed in 2017 to identify and preserve large, high-value diamonds.    The stone was recovered from the processing of EM/PK(S) kimberlite, the dominant ore type that Lucara will continue to target during the first years of the Company's underground mining operations. This discovery underscores Karowe's reputation as a world-class asset and reaffirms Lucara's position as a leading producer of large, exceptional diamonds. This latest recovery joins an impressive roster of other significant finds from the mine, including the 1,758 carat Sewelô and the 1,109 carat Lesedi La Rona. William Lamb, P...