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  Alexey Moiseev confirmed that the Ministry had made a provision    Russia’s Finance Ministry is currently monitoring the trends of the diamonds market, planning to decide on acquisitions of diamonds from Alrosa to the State Precious Metals and Gems Repository (Gokhran) at the end of the second quarter, Deputy Finance Minister Alexey Moiseev told domestic reporter. He confirmed the information that the Finance Ministry had made a provision for purchases of diamonds from Alrosa to Gokhran for 2025. "At this stage we are monitoring the market dynamics so far, indeed, it is rather weak, though not much time has passed," he said.    "Fundamentally, the first quarter is rarely strong. I think that we will actually see how much the situation has changed structurally, or this has rather been a seasonal factor, at the end of the second quarter, and then we will be taking a decision," the official added.    Earlier, Moiseev said that the Finance Ministry was...

  Letšeng recovers over 105 012 carats over the previous109656 carats   Gem Diamonds Limited announces its Full Year Results for the year ending 31 December 2024. At the Financial front, 1: Revenue of US$154.2 million (US$140.3 million in 2023) & Profit for the year of US$8.1 million (US$1.6 million in 2023) are highlighted here.   At the Operational Results of Letšeng report, 1: Carats recovered of 105 012 (109 656 carats in 2023), 2:     Waste tonnes mined of 5.4 million tonnes (8.8 million tonnes in 2023), 3: Average value of US$1 390 per carat achieved (US$1 334 in 2023). 4: The highest dollar per carat achieved for a white rough diamond during the year was US$41 007 per carat.  The benefits of the structural changes implemented in 2023 and 2024 is evident in Letšeng's operational performance during the year. The targeted initiative to control the ore feed rate into the treatment plants resulted in a significant improvement in pl...

  That brings largely fraught with losses in other countries   Sanctions imposed on Russian diamonds are fraught with restrictions and financial losses for other countries, including African states whose budgets largely depend on income from the sale of precious stones, a study by the Analytical Credit Rating Agency (ACRA) says.   The study, the results of which are available to Russian Media, recalls that the share of Russian diamonds on the global market exceeds 30%, while Russia accounts for about 60% of the world's proven diamond reserves. As the study notes, if Russian diamonds are banned, African diamond mining countries will be forced to certify each of their stones to confirm its geographical origin, which, according to ACRA, is unrealistic!   "As a consequence, integration of the country and its diamonds into the international diamond market is high, while this market affects the interests of many countries. In this regard, ACRA believes that sanctions agai...

  Sense to fulfill its diamond production plan this year 2024   Alrosa will fulfill its production plan this year, with production volumes amounting to 33 mln carats (cts) of diamonds, the Yakutia government reported, citing Alrosa CEO Pavel Marinychev. In addition, by the end of the year, Alrosa will perform a record volume of mining, having extracted almost 95 mln cubic meters of rock mass, the report noted.   "The company's production plan for the year will be fully met - production volumes will amount to 33 mln carats of diamonds, which is 100% in line with the planned figure. This was largely facilitated by the implementation of projects to improve operational efficiency," the Alrosa CEO was quoted in the statement. In addition, by the end of the year, Alrosa will perform a record volume of mining, having extracted almost 95 mln cubic meters of rock mass, the report noted.    "Despite another price crisis on the global diamond market and ongoing sa...

Angola endeavour to set their diamonds credibility   The chairman of the board of directors of Endiama-EP, Ganga Júnior, and his counterpart at Maaden, Abdul Aziz Al Maqbali, began face-to-face talks between the state diamond company and its future partner.   During the meeting, Abdul Aziz Al Maqbali reported that “the two companies are quite aligned and working smoothly, and should close negotiations on investments to be carried out in the coming days”, when President João Loureço visits the Sultanate of Oman. “There are strong ambitions from both companies to strengthen the Angolan diamond value chain and the economy of both countries,” said Maqbali, after leaving the audience granted to him by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo.    Maaden International Investment is an Omani company that will hold the shares of Alrosa (41% in Catoca) and the indirect part, via Catoca, corresponding to Alrosa in Luele.    We recall ...

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 ...