Diamond News Archives
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(IDEX Online) – ALROSA said that its total diamond reserves, taking into account the explored deposits under the National Reserves Committee standards, increased by 57.8 million carats during the year (excluding the depletion of reserves) to 1,182 million carats. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?> In 2017, ALROSA spent a total of almost RUB 8 billion on prospecting and onsite exploration. At the same time, the company launched a reform of the exploration complex aimed at increasing its efficiency. In 2017, ALROSA and its subsidiaries carried out prospecting operations in the territory of the Republic of Sakha (Yakutia), in the Arkhangelsk region and Angola (Cuango concession). In Russia, prospecting operations were focused on eight most promising areas, seven of which are located in Yakutia. In particular, ALROSA conducted the search for diamondiferous kimberlites in southern areas of Western Yakutia, prospecting and evaluation works on Syuldyukarskaya pipe and on alluvial deposits in Srednemarkhinsky and Malobotuobinsky areas. The increase in the reserves is connected with the prospecting and evaluation of deep levels of the Internatsionalnaya pipe (in the depth interval 1,190-1,650 meters), calculation of reserves at deep levels of Yubileynaya pipe (to the level -680 meters), and completion of evaluation for the third stage of the buried Nyurbinskaya placer. ALROSA's subsidiary, JSC Almazy Anabara, completed prospecting and evaluation operations at the objects Khara-Masskaya Ploshchad and Malaya Kuonamka, and exploration on Lyaseger-Yuryakh and Ochuos subsoil plots. JSC Nizhne-Lenskoye prepared a report with the calculation of reserves for the object Billyakh-pritoki-3. In 2017, following the decision of the Supervisory Board, ALROSA implemented the first stage of the reform of its exploration. Three specialized competence centers: exploration, mining and drilling, scientific and analytical, were formed based on four exploration subdivisions that worked on a territorial basis. The purpose of these changes is to eliminate duplication of administrative and management functions, strengthen the role of the Chief Geologist Service in the exploration complex of ALROSA Group. There was also an audit of exploration projects: projects on low potential territories have been stopped, on the contrary, works in promising areas have been intensified. "The reform of the exploration complex should help to optimize it and increase its efficiency, eliminate duplicate functions, improve management efficiency, and reduce the costs. According to our estimates, the cumulative effect of these changes will exceed RUB 300 million a year while maintaining the pace of exploration operations. Whereas the strategic goal of exploration - effective replenishment and improvement of the quality of the mineral resources base - remains constant," says the Chief Geologist of PJSC ALROSA Konstantin Garanin. The progress made by ALROSA's exploration complex in 2017 will be considered at the meeting of...
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(IDEX Online News) – There was a moderate decline in the IDEX polished diamond price index during February. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
Diamond Prices Show Multi-Month Decline
Polished diamond prices have moved in a downward direction for the past 18 months.
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Outlook
The global diamond centers reported solid activity overall, with industry restocking after a successful holiday sales season, and good sales ahead of Valentine's Day and the Chinese New Year, which fell relatively late this year, on February 16.
Polished sales are reportedly strong, as seen in rough purchases. De Beers reported sales of $555 million for February. This followed solid sales of $665 million in January of this year.
For the full IDEX Online Research article, click here[1]...
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6 March 2018 – De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the second sales cycle of 2018.
Bruce Cleaver, CEO, De Beers Group, said: “The second sales cycle of the year saw the continuation of good rough diamond demand. This was in line with expectations, following strong retail sales of diamond jewellery during the US holiday season and positive early signs for consumer demand over Chinese New Year.”
Read more here: Rough Diamond Sales Hub
The post De Beers rough diamond sales for Cycle 2, 2018 appeared first on MINING.com....
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South Africa’s Directorate for Priority Crime Investigation arrested 33 people that were illegally extracting gold at the rehabilitated Ellerton mine, just outside the northeastern town of Giyani.
In a joint operation that involved the Serious Organised Crime Investigation Unit‚ the Department for Mineral Resources‚ the Provincial Organised Crime Unit‚ Public Order Police‚ the Air Wing and the Local Criminal Record Centre, authorities were able to seize gold-bearing material, five vehicles, two generators, drills, tents, industrial hammers and a sieve valued at about $54.8K.
The reason behind such a display of force is that normally and according to information from the Chamber of Mines of South Africa, illegal miners in the country belong to organised crime syndicates, are heavily armed and set up ambushes and booby traps around the areas where they operate.
Quoted by local media, the spokesperson for the Directorate for Priority Crime Investigation, Capitan Matimba Maluleke, said that the raid was organized following an outcry by the nearby community worried not only about their safety but also about the excessive use of water by illegal miners.
Illegal mine site in Giyani. Photo by the South African Police Service.
Maluleke also said that the 33 suspects appeared before the Giyani Magistrate’s Court for contravening the Mineral Resources Development Act, as well as sections of the Criminal Procedure Act. They will remain in custody to allow for further police investigation.
The officer promised that his office will continue to run similar operations to prevent the looting of mineral resources from Giyani and from other districts in the Limpopo province.
The annual commercial value of illegal mining and illicit dealings of precious metals and diamonds is estimated to be over R7 billion or about $591.6 million, the Chamber of Mines of South Africa reports.
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