Diamond News Archives

Israel-focused precious stones junior Shefa Yamim (LON, TLV:SEFA) announced Monday a scientific discovery that may make its gemstones more valuable than they’ve ever been, as researches have confirmed the presence of a new mineral inside them.

According to an article published in the journal Minerals last month, the new mineral — named Carmeltazite, after Mount Carmel in northern Israel — contains titanium, aluminium and zirconium.

The element, first discovered by Shefa Yamim, is now recognized and approved as a new mineral by the International Mineralogical Association, the company said.

It can be found within a certain type of sapphire, which the company calls Carmel Sapphire.

Chief executive Avi Taub said the news confirmed the uniqueness of its gemstone.

"We are delighted that  our Carmel sapphire has been recognized as a host to many rare minerals," he said in the statement. "In today's world, where the prices of gems are determined predominantly by their rarity, the Carmel sapphire is a unique discovery."

The independent research was conducted by a group led by geologist Bill Griffin at Macquarie University in Australia, and included academics from the University of Western Australia, Università degli Studi di Firenze and Università degli Studi di Milano.

In a bulk sampling program conducted recently at Mount Carmel, Shefa Yamim has reportedly found diamonds, sapphires and rubies.

The post New mineral found inside gemstones in Israel appeared first on MINING.com....

(IDEX Online) – Diamond broker and consultant Bonas will hold a tender of exceptional polished colored gemstones from February 18 to 22 in Bangkok to coincide with next month's Bangkok Gems & Jewelry Fair (BGJF).<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

The event is being organized with the support of the Asia Gem Center and will take place at the Jewelry Trade Center in Bangkok.

The tender will feature approximately 400 lots, including yellow sapphire, star blue sapphire, pink sapphire, blue sapphire, star sapphire, ruby, star ruby, emeralds, aquamarine, alexandrite and cat’s eye, according to a press statement.

Viewings will take place at the Jewelry Trade Center, from 10am until 6pm each day, with the sale closing on February 26 at 11.00 Antwerp (CET) time. The sale format is an online highest bid tender via www.bonasbids.com....

Cost estimating is a niche practice in any industry; however the mining business brings unique challenges.  Cost estimating must be considered at nearly every stage of a project’s development to inform investors and to de-risk decisions.

Investors need the comfort of knowing that project decisions are as unbiased as possible, from the first resource definition through to development.  Exploration and mining companies need the ability to make go/no-go decisions based on a sound combination of technical merit and economic understanding.

Given these needs, it is in the best interests of companies to select third party entities to conduct their cost estimates.   What is this cost to the company? It may very well exceed the cost to have an outside group perform the cost estimate, as well as critical time lost.

Here are three key reasons to avoid conducting in-house mine cost estimates.

Independence

Independence is, by far, the number one reason to use third parties for cost estimating. Governments and investors alike often require the independent, unbiased approach offered by a third party.

Cost of Cost Estimates

There are real costs associated with conducting project cost estimates in-house. These costs are directly related to the time required for gathering cost data and the subsequent process of developing a spreadsheet-based model for reasonable estimates. An individual dedicated 100% to the task of gathering costs and developing estimates may require months to complete the job, especially if the evaluator has not estimated costs for a project before. What is this cost to the company? It may very well exceed the cost to have an outside group perform the cost estimate, as well as critical time lost.

Expertise

Most mining engineers and many geologists and investment professionals are capable of conducting...

Epiroc, a leading productivity partner for the mining, infrastructure and natural resources industries, has completed the acquisition of Fordia Group Inc., a Canadian manufacturer of exploration drilling tools.

Fordia Group is based in Montreal, Canada, and has sales in more than 70 countries. It provides exploration drilling tools such as diamond bits, down-the-hole tools, drill rods and drill casings, as well as water treatment systems and pumps, used by mining houses and drilling contractors.  Fordia has about 250 employees and had revenues for the 12 months ended September 2018 of about $85 million (SEK 580 million).

Epiroc announced on Oct. 23, 2018, that it had agreed to acquire Fordia. The purchase price is not material relative to the Stockholm-based company’s market capitalization and has not been disclosed. The business becomes part of Epiroc’s Rock Drilling Tools division, and will continue to be based in Montreal. 

This article originally appeared in the Canadian Mining Journal. 

The post Epiroc completes Fordia acquisition appeared first on MINING.com....