Petra Diamonds Posts Sharp Rise in Production For Fiscal 2013

Petra Diamonds recorded a 21-percent jump in production to 2,668,305 carats in its 2013 fiscal year, from a year before.
The firm said revenue rose 27 percent to $402.7 million from $316.9 million, and profit from mining was 34 percent higher at $138.6 million from $103.3 million.
Net profit post-ax was $27.9 million from a net loss of $2.1 million loss in 2012, while adjusted net profit after tax was up 22 percent to $48.3 million from $39.6 million.

Alrosa Sets Price Range for Share Offer

Alrosa says the price range for its offering of shares to be traded in Moscow is $1.08-$1.18 per share. The final offer price is due on October 28.
The offering will involve the sale of 7 percent of shares owned by the Russian Federation and the same amout by the Republic of Sakha (Yakutia), where most of Alrosa’s mines are located.
Both the Russian government and OJSC RIC Plus, wholly-owned by the Republic of Sakha, will offer up to 515,547,593 shares - around 14 percent of Alrosa's shares.

Gem Diamonds Sells 12.47-Ct Blue Stone For Record $7.5M


Gem Diamonds has sold a 12.47-carat blue stone recovered from the Letšeng mine in Lesotho for a record $7.5 million, or $603,047 per carat.
The firm also sold an 82-carat white diamond, recovered at the same time, for $4.8 million, or $59,173 per carat.

Russia’s Alrosa Produces More Diamonds in Q1-Q3

Russian mining giant Alrosa said production in the third quarter of this year was 9.9 million carats, a rise of 9 percent from the prior year period.
And in the first three quarters of this year, production climbed 6 percent on the year to 27.1 million carats.
"The increase in production was due primarily to the acquisition of the diamond mining company Nizhne-Lenskoye, an increase in ore grade at the Jubilee pipe and a higher output from the Mir underground mine," the mining firm said.

Dharmanandan First With 10 Sarin Galaxy/Solaris Systems, Says Sarin


Sarin Technologies said Indian DTC Sightholder Dharmanandan Diamonds is the first diamond firm to have 10 Galaxy and Solaris systems of various models installed.
"In current market conditions, technology plays a vital role in enabling one to stay ahead in the highly competitive world,” said Hitesh Patel, managing director and principal of the company.

Namibia Seen Unlikely to Reduce Tax Rate on Miner Namdeb

Namibia has turned down an appeal by the Namdeb Diamond Corp mining for to reduce its tax rate.
Namdeb, owned jointly by Anglo American Plc and Namibia, wants its tax rate cut to 37.5 percent, the same level as other mining companies in the country.

Petra Diamonds on Track For Fiscal 2014 Target Despite Strike

Mining firm Petra Diamonds reported that following recent industrial action at some of its South African mines which ended September 16, it achieved production of 816,735 carats for its first fiscal quarter which ended on September 30.
"Given this strong production run rate, despite the challenging labor conditions and associated work stoppages, Petra remains on track to meet its stated production guidance of 3.0 million carats for the full year to June 30, 2014.

Gem Diamonds Discovers Blue Diamond at Letseng Mine

Gem Diamonds Limited has found a 12.47-carat blue diamond and an 83.8-carat, exceptional quality, white diamond at the Letšeng mine in Lesotho.
Both of the stones "are expected to fetch good prices" at Letšeng's tenders to be held in Antwerp, the firm said.
The blue stone was recovered from the main pipe, while the 83.8 carat white diamond was found at the satellite pipe.

GJEPC in India Discusses Impact of Rupee's Fall

The Gems and Jewellery Export Promotion Council (GJEPC) has created a committee to propose steps for the country's diamond industry due to the difficulty created by the decline of the rupee against the US dollar in recent months.
The currency has dropped by more than 15 percent against the dollar since May. It is trading at around 63 to the dollar, having previously fallen to around 69 to the American dollar.

Rockwell Diamonds Recovers Four Diamonds Weighing More Than 100 carats

Rockwell Diamonds has found four diamonds each weighing more than 100 carats from its operations in the Middle Orange River region in South Africa, the company said.
It also said it has unrecovered a higher than average number of diamonds weighing less than 100 carats. “This reinforces management's decision to focus operations in this region and embrace new processing technology,” the firm said.

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