RAPAPORT... Alrosa noted an improvement in demand for lower-value roughin November, even as total diamond sales dropped. Proceeds slid 18% year on year to $274 million for themonth, the miner said Monday. However, sales value and volume were higher thanin October, which "may be indicative of strengthening demand for low-cost,small-sized rough diamonds, which has been declining over the past few mo...Read More
RAPAPORT... Signet Jewelers has launched a brick-and-mortar conceptstore for its e-commerce brand James Allen. The store, which opened on Friday in the Georgetown area ofWashington, D.C., will feature an immersive gallery experience aimed at thebrand's younger consumer base, the retailer said last week. "We're excited to continue executing Signet's customer-first,omni-channel stra...Read More
RAPAPORT... A Bulgari necklace fetched $200,000 at Phillips auctionhouse's first New York sale, exceeding its presale estimate of $120,000 to$180,000. The piece includes 39.35 carats of oval-shaped rubiesand 6 carats of round brilliant-cut diamonds. It was the top-selling lot at theauction, which earned $2.4 million overall, Phillips said. A ring featuring an emerald-cut, 4.91-carat, faint-pi...Read More
RAPAPORT... Dominion Diamond Mines CEO Patrick Evans has resigned withimmediate effect after a year at the company, the miner confirmed to RapaportNews Sunday. Evans joined the Canada-based producer in November 2017 afterits $1.2 billion acquisition by Washington Companies. Prior to that, he was CEOof Mountain Province for 12 years. Shane Durgin, Dominion's chief operating officer, will take...Read More
(IDEX Online) - Lucapa Diamond Company says that diamonds from the Lulo mine in Angola will feature in an historic inaugural international tender under Angola's new diamond marketing laws recently approved by the President of Angola, Joao Lourenco, and the country's Council of Ministers. Sociedade Mineira Do Lulo, of which Lucapa is a partner, will showcase and sell seven large and exc...Read More
LONDON – Dominion Diamond CEO Patrick Evans has left the company, marking at least the third high-profile departure in less than a year at the Canadian miner, which is owned by billionaire Dennis Washington.Evans confirmed that he departed on December 5. Shane Durgin, who was COO, took over as CEO effective December 7, Evans said in a telephone interview Sunday. Evans said he plans to stay o...Read More
(IDEX Online) - Petra Diamonds Limited is selling off its interest in Helam Mining (Pty) Ltd in South Africa to Lindleys Mining (Pty) Ltd for a nominal consideration ZAR200 ($14) with immediate effect. Petra put the Helam mine on care on maintenance during FY 2015 following previous attempts to find a suitable purchaser, and no mining activities have been conducted by Petra since then. &nbs...Read More
(IDEX Online) - Stornoway Diamond Corporation said that the remaining tranches of financing announced on October 2 have been completed or approved for completion. A $10 million private placement with Ressources Qu?(C)bec Inc. acting as agent for the government of Qu?(C)bec, was completed on December 7. A 2-year deferral of principal payments on the Renard Mine Road Loan was authori...Read More
PERTH (miningweekly.com) – A 78 ct white diamond has been recovered from the Mothae diamond mine, in Lesotho.ASX-listed Lucapa Diamond Company on Monday reported that the large diamond was recovered through the new 1.1-million-tonne-a-year treatment plant, where commercial production was declared earlier this month.Advertisement“We are extremely delighted to have started our commercial...Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsMOD's shares were down 17.65% Monday to A28c (US20c).The fall came despite the company, which has teamed up with Metal...Read More
Look beyond market approach to project valuations: van ZylLeadershipSustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumAs an agent for purchasers, PearTree would subscribe for up to 12.5 million flow-through shares at 41.3c, Sun Metals sa...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedUnder the agreement, South32 will provide US$1 million funding for generative work and acquisitions per year over two years.Generative work will focus on copper and other base metal projects within the Laramide and Tertiary magmatic arcs of Arizona, New Mexico and Utah.PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x lim...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe country's copper imports fell for the first time this year, down 3% on the year, Bloomberg reported.China's iron ore imports fell for a second month in November, Reuters reported, pulled down by waning restocking demand at steel mills as profit margins narrow.PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedBl...Read More
Base metals continue to face headwinds from the ongoing trade dispute between the United States and China, but also from tension over the arrest of Huawei's chief financial officer, Brexit, social unrest in France and stuttering equity markets. Three-month base metals prices on the London Metal Exchange were down across the board on Monday December 10, with average losses of 0.5%, ranged between 0...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Index futures moved lower overnight on news that China has summoned the U.S. Ambassador to protest detention of Huawei's Chief Financial Officer, but recovered before North American equity markets opened. Conoco Phillips (COP $65.91) is expected to open higher after the company announced...Read More
John Bogle, an entrepreneur, true capitalist and the founder of one of the world's largest mutual fund companies, wrote in his book The Battle for the Soul of Capitalism concerns about the retirement system as a whole.We're in a crisis. But luckily, there's a solution for those smart enough to listen.He takes aim at CEOs of investment firms and believes retirement is going to be the next big finan...Read More
Never afraid to back his own judgement, or take risks leaders of other mining companies might avoid, Glasenberg looks like a man who needs to make changes to the way he operates.&...Read More
A pair of lightweight chainsaw chaps for forest firefighters took the top prize at the Fall 2018 Cornerstone Design Final Competition on Dec. 5. A total of 26 student teams from Introduction to Design (EDNS 151) exhibited their projects at the final competition, representing the top team from each class section.Blaster Disaster Rescue Crew won first place and $1,000 for their innovative personal...Read More
A group of Colorado School of Mines students has partnered with the Chad William Young Foundation to develop an algorithm that could help cyclists avoid accidents like the one that took Young's life in 2017. Members of the Capstone Design team - Canaan Forslund, Thomas Staver, Hunter Nelson and James Frazar - were recently interviewed on 9News Denver about their project. Watch the full segment be...Read More
Less than two weeks after being appointed executive chairman and CEO of Sandy Lake Gold (TSXV: SLAU), Patrick Sheridan has steered the Red Lake-focused junior towards several strategic acquisitions in Guyana.Sheridan has been credited with the discovery, financing and development of the Aurora gold mine in a remote part of Guyana's rain forest, about 170 km southwest of the capital of Georgetown....Read More