GJ Town India

Slowed very early in the Quarter 2 As a result of the Covid-19! Lucapa Diamond Company Limited presents its activities report and results for the Quarter 2, ending 30 June 2020. Lucapa’s operational of the Quarter include, 1: Delineation drilling at Lulo kimberlite L071 completed and bulk sampling commenced, 2: Delineation drilling at Lulo kimberlite L072 commenced, 3: SML commenced staged ramping of alluvial diamond production back to full capacity. 4: 15th +100 carat diamond recovered by SML, 5: Lulo higher-grade alluvial deposit identified at Mining Block 06, 6: Completion of two diamond sales by SML and Mothae, realising US$4.0m (A$6.1m) at an average of US$546 (A$833)/ carat & 7: Successful rights issue completed by Lucapa raising A$5.2m (before costs). SML’s operations were slowed very early in the Quarter to essential operations as a result of the Covid-19 pandemic, but due to the easing of certain restrictions during the Quarter, SML was able to bring p

Reform at all mining and Processing divisions in Yakutia! Alrosa has launched a large-scale reform of its maintenance and repair service. The project is expected to deliver RUB 3.2 billion in five years. The program covers all the company’s services directly involved in the maintenance and repair at all mining and processing divisions in Yakutia. The project implies a gradual transformation of how equipment’s serviceability status is managed. Every mining and processing division will host a unit of the Integrated Service Centre. It will ensure maintenance safety and development, formation of responsibility centers and implementation of a new service system and a united technical policy. The new system is expected to come on stream by the end of 2020. The transformation implies the centralization of all functions into one service and a shift towards digitalization with all data concentrated in the SAP Plant Maintenance module. This approach will allow using digital t

The shareholders of PJSC Alrosa elected a new Supervisory Board of the company and made a number of other decisions at the annual general meeting. At the meeting, held in absentia on June 24, 2020, the Supervisory Board of PJSC Alrosa was elected as follows: 1. Gordon Maria Vladimirovna (independent director) - member of the Supervisory Board of PJSC Moscow Exchange, member of the Board of Directors of PJSC Polyus; 2: Grigoryeva Evgenia Vasilievna - until April 30, 2020, the Minister of Property and Land Relations of the Republic of Sakha (Yakutia). 3: Gurieva Natalya Filippovna - acting Deputy Head of Administration of the Municipal District Verkhnevilyuysky ulus (district) of the Republic of Sakha (Yakutia), 4: Dmitriev Kirill Aleksandrovich - CEO of the Management Company of the Russian Direct Investment Fund (JSC). 5: Donets Andrei Ivanovich - First Deputy CEO of ANO Agency of the Far East for Attracting Investments and Export Support, 6: Ivanov Sergey Sergeevich –

JV rights to explore any new Prospective area in Zimbabwe! Alrosa, a global leader in diamond mining, and Zimbabwe national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) have signed a joint venture agreement to develop diamond deposits in Zimbabwe. The agreement was signed by Alrosa Deputy CEO Vladimir Marchenko and ZCDC Non-Executive Board Chairman Killian Ukama. The President of the Republic of Zimbabwe Emmerson Mnangagwa and Alrosa CEO Sergey Ivanov attended the signing ceremony.   According to the terms of the agreement, Alrosa gets a 70% controlling stake for the development of Greenfield projects, ZCDC – 30%. First of all, the joint venture will be engaged in geological exploration of Greenfield deposits. Further objectives of cooperation are diamond mining and independent sale of rough diamonds in external markets. The new joint venture will be able to work not only with the licenses ZCDC has today, but also in the territory of the whole country. 

Innovative advanced technologies allows mining A large quality diamonds without damage! In early July at the mining and processing plant (GOK) Them V Griba AGD Dimonds JSC mined a large gem-quality diamond weighing 81.02 carats and announced now. Innovative advanced mining technologies and gentle processing during enrichment allow AGD Dimonds to mine large quality diamonds without damage. It is to recall that in early May 2019 at the GOK Them V Griba mined unique diamonds weighing 222.09 and 127.34 carat diamonds. Diamonds deposit Them V Griba is one of the largest in the world, ranking 4th in terms of reserves in Russia and 7th in the world.  For more than 87 years of activity of JSC AGD Diamonds, more than 400 deposits have been discovered and explored, primarily oil, gas, diamonds, oil shale, drinking and balneological waters, color, rare and noble metals, raw materials for the production of cement, slate, bricks, sand and gravel materials for the constructi

V. Griba AGD Dimonds JSC mines a diamond of a mass of 47.61 carats The mining and processing plant (GOK) of   V. Griba AGD Dimonds JSC mined a diamond of gem-quality with a mass of 47.61 carats. Diamond is extremely rare deep lemon hue belongs to the crystal series of class High End. Industry experts note its extremely correct form, impeccable cleanliness and lack of technological flaws. Innovative advanced mining technologies and gentle processing with enrichment using the XRT system allow AGD Dymonds to mine large high-quality crystals without damage, which leads to the maintenance of stable demand for diamonds from the Yu. V. Griba in world markets. Surely the largest jewelry houses will show great interest in the exclusive crystal. The main task of the Company today is the planned and active development of the V.P. Grib diamond-bearing deposit and the preservation of the historical direction of geological exploration. AGD Dimonds JSC considers the introductio

Sales 20 polished diamonds with total weight of 140.4 carats for US$3mn Alrosa, a global leader in diamond mining, summed up the results of the tender for polished diamonds, which was held in New York this June. The company's cutting division - Diamonds of Alrosa organized the tender. The company sold 20 polished diamonds with total weight of 140.4 carats. That amount included 8 gemstones of standard color and 12 fancy colored polished diamonds, most of them had Fancy Yellow and Fancy Intense Yellow characteristics. The overall revenue amounted to $3 mln. There were 29 participants from several countries at the tender, and 11 firms were recognized as winners in different tender positions. “The polished diamond tender in New York was very successful, despite the traditionally quiet summer season and the falling market as a whole.  White and fancy polished diamonds were equally in good demand. In addition to retailers from the US, the world's largest ma

Sales over 460K carats & Production reaches over 463K carats Stornoway sold in two tender sales for gross proceeds1 of $47 million2 at an average price of US$76 per carat. Stornoway Diamond Corporation announces production and sales results at the Renard Diamond Mine for the quarter ended June 30, 2019. According to the announcements, 460,832 total carats sold in two tender sales for gross proceeds1 of $47 million2 at an average price of US$76 per carat ($102 per carat2). In terms of total carats sold, pricing and gross proceeds, this represents variations of +7%, -9% and -1% over the first quarter, respectively. Second quarter diamond sales represent diamonds recovered during the first quarter. Second quarter diamond production was 463,136 carats recovered from the processing of 695,934 tonnes of ore at an average grade of 67 carats per hundred tonnes (cpht). Carats recoveries increased by 4% compared to the first quarter, mainly due to greater plant utiliza

Botswana Diamonds receives permission to sell Diamonds recovered from Thorny River The Botswana Diamonds, associate Vutomi, received permission to sell diamonds recovered during bulk sampling at their Thorny River project. Untill, 256 carats of rough diamonds had been recovered. The sale of diamonds from bulk sampling will enable funding of further development by Vutomi. Sequence of bulk sampling site being worked, Consent received for the sale of diamonds, Sale of diamonds will fund further exploration activity and Mining Permit application accepted for coveted portion of the contiguous Marsfontein farm! Trenching by Botswana Diamonds has identified a ‘hotspot’ at Thorny River with a thick kimberlite intersection of four metres wide, suggesting a kimberlite blow.  256 carats of rough diamonds have already been recovered from re-commissioning the processing plant.  The bulk sampling programme will generate short-term cash flow, whilst building the mineral resource. 

US$345K industry training initiative When Nicholas Simukoko and Sonny Kanyinji enrolled at the University of Zambia and Copperbelt University respectively, they had dreams of completing their studies, working in the mining industry and improving their families’ lives. While they were exceptional students, both men faced financial hardships that threatened to cut their studies short and derail any hopes they had of providing a better life for their families. “It was hard for me to concentrate at school because it was difficult to raise my school fees. I could not study peacefully,” said Mr Simukoko, who was being supported by his single parent mother and was not on the government bursary programme. Mr Kanyinji faced a similar struggle. But they did not give up, and despite all the hardships they faced, they concentrated on their studies and excelled at their schoolwork. Their hard work paid off when they were selected to benefit from Kagem Mining’s US$345,000 industry

A continued market interest over 3 carat diamonds! Alrosa, a global leader in diamond mining, held a tender for polished diamonds of own manufacture in Israel. The company’s cutting division, Diamonds Alrosa organized the tender. The company sold 14 polished diamonds with total weight of 108 carats, and 48 fancy colored polished diamonds weighing 131.6 carats in total.  The overall revenue amounted to $2.2 million. Firms from Israel, the US, Belgium, India, Hong Kong and Russia participated in the tender. “There is a continued interest in large polished diamonds over 3 carats in the market. Our assortment mostly consists of such stones.  In Israel, we presented polished diamonds of different colors and cuts. Despite the relatively weak market, the auction went well, and we are pleased with the results,” said Pavel Vinikhin, Director of the Diamonds Alrosa cutting division. In the fall, Alrosa plans to hold the next polished diamond tender in Israel. In

Auction NY brings in $8.8 mn Alrosa, the world leader in diamond mining, took stock of the international auction for special-size rough diamonds +10.8 carats in New York. The Company sold 101 gem-quality diamonds with a total weight of 1,550 carats. The auction brought in a total of $ 8.8 million. About 90 companies from the USA, Israel, India, Belgium, the UAE, Russia and Hong Kong participated in the auction. “Our auctions in the USA keep bringing in new clients, first of all companies from the US market, more than 20 participants were American companies. The assortment consisted of standard color rough diamonds, most of them were sold at a good premium to their opening price. We are happy with the operational dynamics of our US platform,” noted Evgeny Agureev, member of the Executive Committee, director of the United Selling Organization Alrosa. Alrosa office in New York resumed work last year. Before year-end 2019, the Company is to hold two more diamond auctions i

130 carat Type IIa white and 46 carat pink still at Lulo inventory Lucapa Diamond Company and its partners announce the results from the latest sale of diamonds from the Lulo alluvial mine in Angola. The run of mine parcels totalling 5,573 carats of Lulo diamonds achieved gross revenues of US$10.0 million (A$14.5 million), representing an average price of US$1,800 per carat. This took total sales of Lulo diamonds to date in H1 2019 to US$22.1 million achieving an average price per carat of US$3,668, further underling Lulo’s status as the world’s highest average price alluvial diamond production. The sale excluded several high-value diamonds which remain held in inventory by Lulo alluvial mining company Sociedade Mineira Do Lulo.  These diamonds include the 130 carat Type IIa D-colour diamond and a 46 carat pink. As previously foreshadowed, SML is undertaking a self-funded expansion of its Lulo diamond mining operations to deliver a ~50% increase in annualised plan

Alrosa sales exceeded production by 35% in Q1 Alrosa, the world’s leader in diamond mining, announces its IFRS financial results for Q1 2019 & says, revenue increased by 15% q-o-q to RUB 70 bn, mainly driven by strong sales volumes (up 18% q-o-q). The sales exceeded production by 35% due to increased sales of smaller-size diamond from inventories as polishers’ restocked early in 2019. Y-o-y revenue declined by 27% owing to a higher share of small-size rough gem diamonds in sales and lower sales in carats (down 21% y-o-y). Ebitda grew by 16% q-o-q to RUB 31 bn, supported by top line growth. On a y-o-y basis, Ebitda decreased by 34% as revenue declined. • Ebitda margin remained flat q-o-q at 44% (down 5 pp y-o-y). Free cash flow went up by 81% q-o-q to RUB 26 bn due to a 40% higher operating cash flow q-o-q and a reduction in capex (down 45% q-o-q). On a y-o-y basis, free cash flow declined by 37%, mainly due to a 35% y-o-y decrease in operating cash flow, despite

Petra Diamonds announces the sale of the 424.89 carat ‘Legacy of the Cullinan Diamond Mine’ to Stargems Group / Choron (Belgium) BVBA for just under $15 million. This exceptional D colour Type IIa gem mined from the Cullinan C-Cut adds to the most famous diamonds to have originated from this historic mine. Richard Duffy, Chief Executive Officer, commented on the sale, “This is a significant sale for Petra Diamonds and an endorsement of the quality not only of the Legacy diamond, but also the Cullinan ore body itself, which is known for its exceptional stones.” Mr Shailesh Javeri, Chairman of Stargems Group commented, “The Cullinan Diamond Mine has produced some of the most iconic diamonds the world has ever seen and as a key client of Petra Diamonds we are honoured to have the opportunity to polish the ‘Legacy of the Cullinan Diamond Mine’.”

Sales about 430K carats of diamond! Stornoway Diamond Corporation reports for the three months ended March 31, 2019; the Corporation reported a net loss of $48.4 million. Adjusted net loss for the first quarter (Q1) was $51.0 million per share basic and fully diluted. For the first quarter, the Corporation reported adjusted EBITDA of $13.4 million, or 25.2% of revenues, which includes an $8.9 million write-down of cash costs to bring inventory to its net realizable value. For the first quarter of 2018, adjusted EBITDA was $24.7 million, or 44.2% of revenues. During the quarter, two tender sales totalling 429,506 carats were completed for gross proceeds of $47.3 million at an average price of US$83 per carat ($110 per carat3). Revenue recognized during the quarter was $53.3 million. In terms of total carats sold, gross proceeds and pricing, this represents increases of 38%, 47% and 8% over the fourth quarter of 2018, respectively. First quarter diamond sales represent