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Showing posts with the label diamond mining

AGD Diamonds produced 54.27 carats diamond!

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The first +50 cm mined by the company in 2024     At the Mining and Processing Plant named after, V. Grib JSC AGD Diamonds produced a gem-quality diamond weighing 54.27 carats. This is the first extra-large diamond (+50 cm) mined by the company in 2024, and the 43rd among the unique extra-large diamonds mined at the mine. V. Grib since the beginning of industrial development. JSC AGD Diamonds is the second diamond mining company in Russia. In terms of production volume, the field named after. V. Grib is one of the ten largest in the world. Innovative technologies for kimberlite enrichment allow AGD Diamonds JSC to regularly produce high-quality diamonds.    AGD Diamonds, successor to JSC Arkhangelskgeoldobycha, more than 400 deposits have been discovered and explored, primarily oil, gas, diamonds, oil shale, drinking and balneological waters, non-ferrous , rare and precious metals, raw materials for the production of cement, slate, brick, sand and gravel materials for the constru

Endiama plans to increase production

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  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

Lucara Q1 sales 80,295 carats of diamonds!

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An average price per carat grew to $690 from $480 YoY   Lucara Diamond Corporation reports its results for the quarter ended March 31, Q1 2022 said, Lucara revenue in Q1 2022 increased by 28% to $68.2 million from $53.1 million in Q1 2021 a reflection of strong rough and polished diamond market fundamentals into the first quarter.   The combination of a strong diamond market, combined with the sale of several higher value rough diamonds in Q1 2022 generated an average price per carat (excluding top-up payments) of $690 for Karowe diamonds sold during the quarter (Q1 2021: $480 per carat).   A total of 186 Specials (single diamonds in excess of 10.8 carats) were recovered, representing 6.9% weight percent Specials (Q1 2021: 6.8%). Sales volumes transacted on Clara during Q1 2022 totalled $7.0 million, a 17% increase from the $6.0 million in sales volume transacted in Q1 2021. A third-party producer will commence a series of trial sales beginning in Q2 of 2022. Eira Thomas, Presid

Lucapa gaze a strong outlook for 2022

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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

Rough pricing returned to pre-Covid-19 levels!

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Petra revenue down 8% in H1 2020   Petra Diamonds Limited presented its’ Interim results for the six months to 31 December 2020 as H1, 2020. At Financial front Petra said, Revenue down 8% to US$178.1 million from 1,712,797 carats sold (H1 FY 2020: US$193.9 million from 1,743,807 carats sold) with the US$40.4 million proceeds from the Letlapa Tala Collection of blue diamonds, offset by weaker prices following the Covid-19 outbreak and fewer tenders during the Period.   Diamond pricing on a like-for-like basis increased by a further 8% at the Company's January 2021 tender that is confirming that pricing has now returned to pre-Covid-19 levels. Adjusted EBITDA3 up 20% to US$80.8 million (H1 FY 2020: US$67.2 million) yielding an adjusted EBITDA margin of 45%, up from 35% in H1 FY 2020 and 22% in FY 2020; driven by the sale of the Letlapa Tala Collection and reduced mining and processing costs. By casting their Outlook, Petra said, due to the ongoing uncertainty around the impact of

Diamcor delivered 4,174.36 carats upon resumption!

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2,054.88 carats of rough diamonds Tendered and sold in early February!   Diamcor Mining provided an update on the resumption of operations following the required suspension lasting for the majority of 2020 due to the unprecedented events associated with Covid-19.  The Company is making considerable progress increasing processing volumes, diamond recoveries, and revenues since resuming operations.  From December 2020 through January 20, 2021 the Company had delivered 4,174.36 carats of rough diamonds for tender and sale. In a summary key highlights are, 1: Tailings processed during the processing plant initial restart optimization yielded 666.75 carats of rough diamonds generating gross revenues of USD $79,000 equivalent to USD $118.49 per carat.   2: The subsequent processing of quarry material has now resumed, and 1,452.73 carats of rough diamonds from initial exercises were tendered and sold generating gross revenues of USD $266,705, resulting in an average price of USD $183.59 p

Lulo announced first diamond sale of 2021!

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Sells the rough diamond parcel of 4,273 carats First diamond sale earns US$1,375 per carat   Lucapa Diamond Company and its partners Empresa Nacional de Diamantes E.P. (Endiama) and Rosas & Petalas are pleased to announce the results of the first diamond sale of 2021 by Sociedade Mineria Do Lulo from its Lulo alluvial mine in Angola. The rough diamond parcel of 4,273 carats was sold for a total of US$5.9 million (A$7.7 million) or US$1,375 (A$1,793) per carat. Lucapa Managing Director, Stephen Wetherall commented “As with the first sale of Mothae diamonds in 2021, prices achieved by SML at this sale continued to reflect the positive industry mood, and with sales from both operations in 2021 already totalling A$15m, it has been a solid start to the year.”   Lucapa is a niche diamond producer with high-value mines in Angola (Lulo) and Lesotho (Mothae). The Lulo alluvial mine and Mothae kimberlite mine both produce large and high-value diamonds, with >75% of revenues generated

Gem Diamonds recovered 16 rough over +100 carats in 2020

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Earned average price of US$1 908 per carat yet a lower YoY   Gem Diamonds Limited provides the Trading Update detailing the Group's operational and sales performance from 1 October 2020 to 31 December 2020 (Q4 2020).  According to the Trading Update, the Group further increased its net cash position by US$33.1 million, ending the Period with net cash of US$34.2 million (Q3 2020: net cash US$1.1 million).   Operational guidance metrics for the 2020 full year were achieved. During the Period, four diamonds greater than 100 carats were recovered to bring the total for the year to 16 & average price achieved for the Period was US$1 907 per carat. Over all 99 172 carats sold in the year, achieving an average price of US$1 908 per carat (2019: US$1 637 per carat). Ten diamonds sold for more than US$1.0 million each, generating revenue of US$22.6 million during the Period, bringing the total number of diamonds sold for greater than US$1.0 million to 34 for the year.  Diamond price

Mothae first diamond deal 2021!

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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

Karowe Licence Extended up to 2046

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  Lucara Diamond renewal approved by Botswana   Lucara Diamond Corp and Lucara Botswana announces that the application for the renewal of Mining Licence No 2008/6L in respect of its AK06 (Karowe) Mine has been approved by Botswana's Minister of Mineral Resources, Green Technology and Energy Security. The renewal is effective January 4, 2021 for a period of 25 years, securing Lucara's mining rights to 2046 and marks a critical step in the formal sanction of the Karowe underground expansion project.  Eira Thomas, President and CEO commented: "The receipt of our mining licence renewal and extension to 2046 is an important milestone for the Karowe underground expansion project, paving the way for the completion of a supplemental debt financing and full project sanction later this year.   Lucara is grateful for the confidence and support demonstrated by the Government of Botswana as we work to expand our operations at Karowe underground, for the benefit of the Government an

Lucapa to acquire Merlin diamond mine

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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

Brooking recovered seven diamonds!

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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

Kweneng diamond Project commenced drilling!

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Indicative soil of diamond stability field: Pangolin Reports   Pangolin Diamonds reported update on recent activities at its various projects in the Republic of Botswana. Pangolin Diamonds also reports on AK10 Kimberlite Pipe, Malatswae Project, Motloutse Project & Yashomann Industries Option Agreement with the focus of Kweneng Project.   At Kweneng Project Pangolin Diamonds commenced All 7 holes drilled intercepted the Main Dyke intrusive near surface. The Longest drill intersection of 14 metres true width & 120 metres of Main Dyke strike confirmed through drilling with the result of 52.5% of chromites recovered from soils indicative of diamond stability field, Soil sampling results indicate 1.5 kilometre strike length and remains open. Second Dyke discovered through drilling and running parallel Main Dyke have been successfully mined in South Africa for diamonds to 1000 metres below the surface. Kweneng Project, a percussion drilling programme of 289 metres delineated th