GJ Town India

April, the largest diamond of 1,758 carat recovered Lucara Diamond announces the results for the 1Q (quarter ended March 31, 2019) was characterized by a continuation of the strong operating performance observed during the latter half of 2018, having met or exceeded guidance with respect to all mining and processing activities including: Carats recovered of 132,336 (including 10,899 carats recovered from re-processing historic recovery tailings from previous milling) achieving a recovered grade of 15.9 carats per hundred tonnes processed (direct milling carats) 170 Specials were recovered during the first quarter, representing 4.1% weight percentage of total recovered carats, in line with mine plan expectations; 7 diamonds were recovered greater than 100 carats in weight. In April 2019, the largest diamond to be mined at Karowe to date, an unbroken 1,758 carat near gem quality diamond was recovered. This recovery is the largest diamond recovered in Botswana and ...

Mozambique: Mining Company blames Authorities for allowing illegal ruby trade The concession holder of the mining site where 11 people died recently, in the north of Mozambique, has accused the authorities of inaction and complicity with the illegal trading of rubies. “These tragical casualties were caused by some foreign buyers who manage to do business illegally, in the light of day, in cities like Montepuez, without any inspection or sanction from authorities”, the Montepuez Ruby Mining (MRM) the press release, signed by the manager for Corporate Affairs Raime Raimundo Pachinuapa, stated. The buyers “enter and leave the country, in particular through Pemba International Airport, frequently without the required documents, by bribing officials”. “We need to fight this illegal activity as a country”, Raime Raimundo stressed, calling upon authorities to “enforce the law and stop the illegal trade of rubies”. A non-authorised mining site inside the MRM perimeter colla...

H1 production gone up by 10% to 2,019,147 carats! Recently Petra Diamonds announced its H1 FY 2019 interim result says, the sale of Petra’s interest in the Kimberley Ekapa Mining Joint Venture-KEM JV and Helam Mining, is being completed in December 2018. Accordingly the H1 result has not included KEM JV & Helam performance unless specified! During the H1 production gone up 10% to 2,019,147 carats over the previous H1 FY 2018 had registered 1,843,956 carats production. Over all Carats sold increased 15% to 1,736,357 while H1 FY 2018 had sold 1,510,361 carats. Increased sale is a result of increased production. Financial Revenue generated of US$207.1 million over the H1 FY 2018 of US$191.8 million & net loss adjusted after tax of US$4.5 million was a US$7.2 million profit in H1 FY 2018. Petra says, loss on discontinued operations relating to KEM JV and Helam of US$39.7 million (H1 FY 2018: US$53.9 million loss – KEM JV only). However, should product mix...

Alrosa Sales tumbles in October by 28% YoY Alrosa, the world’s largest diamond miner, announces diamond sales results for October and ten months of 2018. In October, Alrosa Group sold $242.8 million worth of rough and polished diamonds (-28% YoY). Rough diamond sales by value amounted to $233.9 million, polished diamond sales – $8.9 million.   Alrosa’s total diamond sales in January-October 2018 grew 6% YoY and amounted to $3.9 billion. During the ten months of 2018, rough diamonds were sold for $3.8 billion, polished diamonds – for $83.0 million. “In October, demand for small-size inexpensive rough diamonds continued to remain weak. Seasonal slowdown on the threshold of Diwali, the main Indian holiday, was exacerbated by weakening Rupee/USD FX rate, a number of minor bankruptcies in India and tighter credit conditions for the cutting and polishing sector in this country, says Alrosa Deputy CEO Yury Okoemov. “We expect the situation to stabilize t...

New five-year licence expires in 2023 Lucapa Diamond Company Limited announces that a new Mineral Investment Contract has been gazetted by the Angolan Ministry of Mineral Resources and Petroleum for the Lulo kimberlite exploration licence. The MIC covers a five-year period through to 30 April 2023. Lucapa is a co-owner and operator of the kimberlite exploration program on the highly prospective 3,000km2 Lulo concession, which is run in parallel with the high-value alluvial diamond mining activities, conducted via Sociedade Mineira Do Lulo. Lucapa and its partners have established a systematic year-round kimberlite drilling program which aims to identify the primary hard-rock source, or sources, of the exceptional large and high-value alluvial diamonds currently being recovered proximal to the kimberlite targets at Lulo. Lucapa Managing Director Stephen Wetherall said the gazetting of the new five-year MIC for the Lulo kimberlite licence was further evidence of Angol...

Endeavour to sale Tabakoto Mine According to the Endeavour Mining announcement, it has entered into a binding sale agreement for its interest in the non-core Tabakoto mine to Algom Resources Limited, for a total cash consideration of US$60 million. The consideration is payable upon closing of the transaction which is expected to occur during the fourth quarter of 2018. Sébastien de Montessus, President & CEO of Endeavour Mining, stated: "We are pleased to continue to pursue our portfolio management strategy through the sale of our non-core Tabakoto mine. This will increase our overall portfolio quality and allow management to focus on high cash generating assets with low AISC and long mine lives.” Peter Spivey, Chief Operation Officer of Algom, stated: "We are very pleased for the opportunity to enter into this arrangement with Endeavour. The underground operations at Segala and Tabakoto are well understood, and we look forward to working closely with o...