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Diamond News Archives

2018 Sees Strong Start In Rough Diamond Markets

Category: News Archives
Created: 27 March 2018
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March 27, 18 by Albert Robinson image (IDEX Online) – Mountain Province Diamonds Inc. said that 2018 has seen a strong start in rough diamond markets. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>   "The first two sales of the year substantially exceeded expectations, and prices have firmed across all product categories since the second half of 2017," said Interim President and CEO David Whittle.   Announcing its financial and operating results for the full year ended December 31, 2017, it reported net income of $17.2 million.   Commercial production at the Gahcho Kué diamond mine started on March 1, 2017. The third quarter of 2017 was the first full quarter of reported earnings from mine operations following the start of commercial production.   There has been "strong participation at the company's tender sales, with participation rates increasing through 2017. An average of 11 bids per lot was received in 2017, with individual tenders offering approximately 125 lots per sale and over 100 companies bidding each sale."   Mountain Province Interim President and CEO David Whittle commented, "2017 was a milestone year for Mountain Province as we transitioned from development into commercial production. For 2018, production is expected to increase from 2017 to between 6.3 and 6.6 million carats recovered at an average grade of 2.02 to 2.12 carats per tonne. We look forward to a year of strengthening fundamentals in the diamond industry." ...

Read more from our friends at IDEX

Diamonds and sapphires allow masers to operate continuously

Category: News Archives
Created: 26 March 2018
Hits: 1934
Diamond Buyers Club

Scientists from Imperial College London and UCL used a synthetic diamond grown in a nitrogen-rich atmosphere to create a new maser that operates continuously.

A maser (microwave amplification by stimulated emission of radiation) is the older, microwave frequency sibling of the laser. It was invented in 1954 and has traditionally been used in deep space communication and radio astronomy.

However, early versions of the maser had to be cooled to temperatures close to absolute zero (-273°C) to be able to function and even though in 2012 researchers were able to demonstrate that a maser could operate at room temperature using the organic molecule pentacene, the system produced only short bursts of maser radiation that lasted less than one thousandth of a second.

But with the new additions, carbon atoms were ‘knocked out’ from the diamond using a high energy electron beam, creating spaces known as ‘vacancies.’ A press release by Imperial explains that the diamond was then heated, which allowed nitrogen atoms and carbon vacancies to pair up, forming a type of defect known as a nitrogen-vacancy (NV) defect centre.

When placed inside a ring of sapphire to concentrate the microwave energy and illuminated by green laser light, the maser worked at room temperature and continuously.

“This breakthrough paves the way for the widespread adoption of masers and opens the door for a wide array of applications that we are keen to explore," said lead researcher Jonathan Breeze in the media statement.

According to Breeze and his team, such applications could range from medical imaging and airport security scanning, to improvements in sensors to remotely detect bombs. Masers, they say, could also be used to develop new technology for quantum computers and space communication methods to potentially find life on other planets.

The post Diamonds and sapphires allow masers to operate continuously appeared first on MINING.com....

Read more from our friends at Mining.com

Stornoway Diamond Corp Posts Net Loss Of $114.6 Million In 2017 From Profit In 2016

Category: News Archives
Created: 26 March 2018
Hits: 2147
March 26, 18 by Staff Reporter
image

(IDEX Online) – Stornoway Diamond Corp reported net loss of $114.6 million from net income of $19.6 million in 2016 in its financial year ended December 31, 2017.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

 

Its results reflected "a lower diamond price environment than was originally forecast by the Corporation".

 

Net income before impairment was $11.1 million for the fourth quarter and $15.0 million for the year.

 

Diamond sales of 486,633 carats were completed in the fourth quarter with gross proceeds of $52.6 million at an average price of $86 per carat ($108 per carat).

 

For the full year, Stornoway sold 1,701,561 carats for gross proceeds of $186.2 million at an average price of $85 per carat ($109 per carat).

 

Matt Manson, President and CEO, commented: “In 2017, Stornoway’s Renard diamond mine produced a strong performance in mining, carat production, processing ramp-up, and cost. It has delivered strong operating margins, with EBITDA of $85 million, despite the lower diamond pricing environment that has characterized our first year of sales. As 2017 ended, Renard had established itself as the lowest cost diamond mine in Canada, and Renard diamonds had developed a strong position in the rough diamond market.

 

"The first half of 2018 will see ore production transition from our starter open pit to our underground mine. Ensuring an efficient ramp-up of the underground operations is a key priority for the Renard team. At the same time, we are introducing our new ore-waste sorting circuit designed to improve the quality of our diamond production and provide future processing expansion capacity. Both of these capital projects, once completed, will define the character of the project for the next decade.” Manson continued, “Since the completion of our project fund-raising in 2014, and through four years of mine construction and operations, Stornoway has maintained a strong balance sheet and liquidity position. This will remain a priority for us in our financial management as we pass through the scheduled capital spending of 2018 and pursue the production and revenue growth potential of our business.”...

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IDE CEO Eli Avidar Leaving Diamonds For Politics

Category: News Archives
Created: 26 March 2018
Hits: 1969
March 26, 18 by Albert Robinson image (IDEX Online) – Israel Diamond Exchange CEO Eli Avidar has announced he will be stepping down from the position and intends to become a member of Israel's parliament, the Knesset.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>   Avidar, aged 53, who also served as the CEO of the Israel Diamond Institute, from which he recently resigned, told the IDE's board of directors that he did not intend to extend his contract with the bourse, according to the Israel Today newspaper.   Avidar was appointed as CEO of the Israeli exchange in January 2016.   Eli Avidar said: "I thank the Chairman and the Board for their trust in me, but as I intend to enter politics, I announced that I will not be extending the contract that was offered to me. My role at the bourse was challenging and satisfying for me, but since my decision has been made to go into politics I cannot continue in it since it requires all of my time and effort, hence my decision." ...

Read more from our friends at IDEX

GJEPC Signs Agreement With UBM Asia For HK Jewellery & Gem Fair

Category: News Archives
Created: 25 March 2018
Hits: 1922
March 25, 18 by Albert Robinson image (IDEX Online) – The Gem & Jewellery Export Promotion Council (GJEPC) has signed a cooperation agreement with UBM Asia Ltd, to organize the India pavilion at UBM’s Hong Kong Jewellery & Gem Fair held during June and September 2018. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>   Both shows are leaders in the gem and jewelry industry.   GJEPC Chairman Mr. Pramod Agarwal said, “Hong Kong is the second largest export market for the Indian gem and jewelry industry. The two UBM shows of June and September are an important platform for the Indian industry as these shows will not only help us to expand our reach in the Hong Kong market but will also give access to other key markets in Asia. In a landmark cooperation agreement with UBM, we have made sure that our best manufacturers get this opportunity at India Pavilion to showcase their capabilities in terms of best cuts and jewelry design.”   A total of 50 exhibitors will participate at the June Jewellery & Gem Fair show, and 110 exhibitors at the September fair.   India's gem and jewelry exports for the April 2017 – January 2018 period totaled $33.9 billion of which $10.9 billion export were to Hong Kong, the GJEPC said. ...

Read more from our friends at IDEX

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  4. Royal blue diamond goes on sale

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