Mining / Exploration
Israeli billionaire Dan Gertler has been placed on the US Treasury's Office of Foreign Assets Control (OFAC) sanctioned individuals list due to his business ties with President Joseph Kabila of the Democratic Republic of Congo (DRC).
In December, ALROSA's Udachny Mining and Processing Division completed the removal of 75 tons of diamondiferous ore from Verkhnyaya Muna for the trial processing at Processing Plant No. 12 and recovered first diamonds from Verkhne-Munskoe deposit.
The development of processing technology is required to prepare for commercial launch of the deposit scheduled for 2018.
De Beers sold rough diamonds with a provisional value of $450 million in the 10th sales cycle (Global Sightholder Sales and Auction Sales) of 2017.
The mining giant said that there had been a continuation of good demand heading towards the end of the year.
Bain & Company’s seventh annual Global Diamond Report says rough diamond players will likely raise their marketing spending by around 50 percent over previous years to promote diamonds.
The UN Office in the Russian Federation has ranked ALROSA in the top three firms for environmental responsibility among Russian mining and smelting companies.
Rough diamond sales in Q1 2017 were 14.1 million carats, Anglo American reported.
There were three Sights in the quarter this year compared with two in the year-earlier Sight.
"This increase reflected stronger demand in Sight 1 2017, particularly for lower value goods in stock at December 31, 2016," reported thediversified miner which owns 85 percent of De Beers.
Andrey Zharkov, the President of PJSC ALROSA, has held annual business meetings with the company’s long-term clients from more than 70 companies around the world.
The sides discussed ALROSA’s management diamond market trends, the company’s sales structure, and assessed ALROSA’s steps on developing its sales methods and geography.
Gem Diamonds reported a strong end to the year at its Letšeng mine in Lesotho. Full-year production was "above guidance" and prices were "robust", the firm said in a statement.
The miner, which has a half a dozen mines in southern Africa, said the stones from Lesotho achieved an average price per carat of $2,117 in the fourth quarter. But the average price per carat in 2015 was 9 percent down on 2014.
The Lucapa Diamond Company said it will allocate a portion of the money raised from the large diamonds it has found in alluvial mining in Angola to finance the hunt for the kimberlite pipes from which the gems have originated, the firm said.
The Lucapa Diamond Company has announced yet another discovery of an exceptional diamond.
This time, it is a 68.1 carat Type IIa D color diamond from a trial mining exercise at a new area at its Lulo operation in Angola.