Rough

Stornoway Says Resource Estimate Jumps 14% to 27.1M Carats

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Stornoway Diamond Corporation says an revised mineral resource estimate for its Renard diamond mine shows a 14-percent jump in its Indicated Mineral Resource of 27.1 million carats since the last estimate in January 2011.

There was a successful conversion of 2.3 million carats (7.86 million tonnes at 29.3 carats per hundred tonnes) of near-surface Renard 65 Inferred Mineral Resources to Indicated Mineral Resources, representing kimberlite amenable to open-pit mining to a depth of 150 meters.

Kao Rough Tender Raises $5.8 Million

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A Fusion Tenders sale of rough diamonds from the Kao mine generated $5.8 million, with an average price per carat of $495. The July 11-17 tender took place in Antwerp and was 100-percent sold.

Two large stones of 54.96 carats and 39.79 carats sold for $1.018 million and $1.105 million, respectively. Other important lots included two natural fancy colored pink diamonds of 1.20 carats and 1.90 carats that sold for in excess of $30,000 per carat. 

Lucara to Hold Second Tender of Exceptional Stones

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Lucara Diamond Corp. is to stage a second Exceptional Stone Tender of goods from the Karowe Mine in Botswana.

The tender will include 16 single diamond lots from the mine, including five diamonds larger than 100 carats. There will also be a small pink diamond, the first to be recovered from Karowe.

Anglo American Chief Executive Appointed Chairman of De Beers

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Mark Cutifani, CEO of Anglo American plc, has been appointed chairman of the De Beers Group with immediate effect.

He replaces former Anglo American CEO Cynthia Carroll who stepped down in October 2012.
 
De Beers is delighted to gain a chairman with Mark’s operational experience and track record for leading large organizations,” said Philippe Mellier, CEO of the De Beers Group.
 

Polished Diamond Imports to United States Soar 20% in May

The United States increased by more than 20 percent on last year its imports of polished goods in May to $3.19 billion, according to government figures.
 
In volume, imports were almost the same at 1.5 million carats, while the average price per carat surged 23 percent to $2,117.
 
American exports of polished stone rose 13 percent to $1.485 billion, with the average price per carat soaring 45 percent to $1,787.
 

Botswana Posts Sharp Fall in Rough Diamond Exports in May

Exports of rough diamonds by Botswana in May dropped to $267.7 million from $402.2 million in April, the Bank of Botswana reported.
 
Exports of rough goods in the first quarter of this year fell to $718.9 million from $826.8 million in the same period of last year.
 
Although there were no figures relating to polished exports in April or May, in the first quarter, polished diamond exports totaled $102.0 million down significantly from $160.5 million in the same period last year.
 

Rio Tinto to Sell Diavik Diamonds in Israel For First Time

After negotiations between Israel Diamond Exchange (IDE) President Yair Sahar and Rio Tinto officials, the miner will hold a tender of diamonds from Canada at a special booth to be constructed in the IDE Trading Hall at the August 26-29 US & International Diamond Week.

The tender will include diamonds from the Diavik mine in Canada’s NorthWest Territories worth tens of millions of dollars in many sizes but with a special emphasis on bigger stones.

Permits to take part in the tender are being offered exclusively by Rio Tinto, says the IDE.

Israeli Polished Diamond Imports and Exports Stable in H1

Israeli exports of polished goods were almost unchanged on the year in the first half of 2013 – at $3.23 billion from $3.30 billion a year before, according to figures released by Israel's Diamond Controller, Shmuel Mordechai.‎
 
Israeli net exports of polished diamonds slipped 2% from a year earlier, while net rough exports rose 8.1% to $1.639 billion in the first half from $1.516 billion last year.
 

Japanese Polished Diamond Imports Fall in May

Israel's polished diamond exports to Japan fell by just 7% in May to $7 million, while  imports from Hong Kong dropped 33 percent.
 
Imports of polished goods from Japan’s largest supplier, India, surged 22 percent to $30 million, while those from Belgium increased by 15 percent to nearly $13 million. Imports from the United States also rose sharply – up 21 percent to $2.1 million.
 

Mellier Confident Anglo American Committed to Keeping De Beers

In a wide-ranging press briefing in Tel Aviv. De Beers Chief Executive Officer Philippe Mellier and Executive Vice President of De Beers Global Sightholder Sales, Varda Shine provided information relating to major elements of the company's activities. They also answered questions, although were careful to avoid any references to production or financial figures since the media meeting was held a month before the financial results for the first half of 2013 were to be published on July 26.

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