Diamond - Copperbelt Katanga Mining

DRC Diamond Exports Reach $18 Million in Q1 2024 Amid Production Decline 1

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved diamond exports worth nearly $18 million, driven by the export of 1,970,188 carats. Despite the notable revenue, the sector faces challenges, including declining production and fluctuating market conditions. The Technical Cell for Coordination and Mining Planning reported diamond production of 931,876.98 carats in the same period. The DRC’s diamond industry continues to grapple with production variability, a trend that has raised concerns among stakeholders. Breakdown of Production by Segment: All production was exported to key markets, including… Read More Here

Diamond Mining in DRC

MIBA Faces Major Revival Challenges Amid Diamond Production Halt and Financial Struggles

November 12, 2024November 12, 2024 Constance

The situation at Société Minière de Bakwanga (MIBA), a major mining company in Kasaï-Oriental province, remains critical. According to the latest data from the Cellule Technique de Coordination et de Planification Minière (CTCPM) within the Congolese Ministry of Mines, MIBA did not produce any diamonds in the second quarter of 2024 (April to June). In stark contrast, Société Anhui Congo d’Investissement (Sacim), another diamond producer in the region, reported over 873,000 carats produced during the same period, accounting for nearly 98% of the region’s industrial output, according to the Ministry.… Read More Here

Diamond Artisanal mining Mining in DRC

DRC Diamond Production Sees 27% Growth in Early 2024 Driven by Artisanal Mining

November 8, 2024November 8, 2024 Constance

Diamond production in the Democratic Republic of Congo (DRC) remains primarily artisanal, according to recent provisional data from the Ministry of Mines’ Technical Unit for Coordination and Mining Planning (CTCPM). In the first half of 2024, artisanal mining operations produced 3,319,025 carats, accounting for nearly 68% of the country’s total diamond output. Kasaï-Oriental province reaffirmed its position as the leading artisanal diamond producer, contributing almost 99% of the sector’s production. Industrial mining also saw significant growth, yielding 1,544,190 carats, while semi-industrial mining contributed a modest 1,433 carats. In total, diamond… Read More Here

Diamond Artisanal mining Mining in DRC

DRC Authorities Close Kanshi Commune’s Artisanal Diamond Mine to Protect Resident Safety

October 27, 2024October 27, 2024 Constance

The artisanal and clandestine diamond mine in the Kanshi commune of Eastern Kasai was officially closed on Monday, October 21, 2024, to safeguard the lives of local residents, as stated in a report from the Council of Ministers. “The governor announced the permanent closure of the artisanal diamond mine in Kanshi and the establishment of enhanced surveillance measures to prevent further tragedies,” the report noted. This decision follows a series of fatalities linked to clandestine diamond mining activities, primarily conducted by young residents, which have resulted in significant loss of… Read More Here

Mining in DRC Diamond

DRC Reveals $70 Million Plan to Revitalize MIBA and Increase Diamond Production

August 26, 2024August 26, 2024 Constance

Last Friday in Kinshasa, Kizito Pakabomba, the National Minister of Mines, presented a $70 million plan to relaunch the Bakwanga Mining Company (MIBA) during the tenth Council of Ministers. The plan, which focuses on five key areas—certification of mining reserves, concession security, production-related investments, personnel costs, and monitoring-evaluation—aims to increase MIBA’s production capacity from 2026. The company, based in the Kasai region, is targeting an annual output of 2,438,484 carats, valued at $58.95 million in revenue from diamond extraction and marketing. To support this ambitious goal, the National Minister of… Read More Here

International Diamond

Botswana’s Karowe Mine Yields Historic 2,492-Carat Diamond

August 25, 2024August 25, 2024 Constance

Botswana has once again made headlines in the diamond industry with the discovery of a monumental 2,492-carat diamond at the Karowe Mine. This remarkable find is the largest diamond unearthed in over a century and ranks as the second-largest ever discovered, surpassed only by the legendary 3,106-carat Cullinan Diamond found in South Africa in 1905. The yet-to-be-named gem was unveiled by President Mokgweetsi Masisi during a special viewing ceremony, where he expressed both awe and pride. “I am fortunate to witness this in my time,” Masisi remarked, describing the event… Read More Here

Diamond Mining in DRC New Mining Projects

Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining

August 8, 2024August 11, 2024 Constance

The Bakwanga Mining Company in the Kasai-Oriental province has received new machinery to restart its diamond mining operations. The handover took place on Tuesday, August 6, 2024, in Mbuji-Mayi, attended by Governor Jean-Paul Mbwebwe Kapo and the Chairman of the Board of Directors, Jean Charles Okoto, along with executives and staff of the state-owned company. The newly acquired equipment includes a Volvo excavator, an SEM loader, two dump trucks, a 6,000-liter fuel oil truck, two Tata buses with a capacity of over 61 seats for employee transportation, and five pickups.… Read More Here

Mining in DRC Diamond

DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange

August 4, 2024August 4, 2024 Constance

During the Council of Ministers on Friday, July 19, Minister of Mines Kizito Kapinga Mulume provided an update on the negotiation of the Framework Collaboration Agreement between the Mining Fund for Future Generations (FOMIN) and the Africa Diamonds Exchange (ADEX), a Swiss-incorporated company. A delegation from the Ministry of Mines, including representatives from FOMIN, CEEC, and CTCPM, visited Zurich from May 26 to June 2, 2024. They reached an agreement on establishing ADEX RDC SA, a new collaboration framework between FOMIN and ADEX to negotiate the Framework Collaboration Agreement in… Read More Here

International Diamond

De Beers Group Reports 21% Revenue Decline Amid Challenging Market Conditions

July 31, 2024July 31, 2024 Constance

De Beers Group has announced a 21% decrease in revenue for the first half of 2024, highlighting the impact of a global decline in diamond demand and increased competition in the industry. According to the financial report, total revenue dropped from $2.8 billion in H1 2023 to $2.2 billion in H1 2024. The company also experienced a 22% year-on-year decrease in total rough diamond sales. While the global realized price for diamonds remained stable, adverse market conditions significantly affected the company’s performance. Economic challenges in China have resulted in low… Read More Here

Mining in DRC Diamond Drilling

Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects

July 30, 2024July 30, 2024 Constance

Rome Resources Plc (AIM: RMR) provides an update on drilling operations at the Company’s flagship project located in the North Kivu province in the Democratic Republic of Congo which comprises the Kalayi prospect, the Mont Agoma prospect and the Mont Agoma Northwest prospect (together the “Bisie North Projects”) The Company is pleased to announce that it has commenced the mobilisation of the first of three diamond core drill rigs to be used in the first week of August 2024 at sites identified and prepared by the Company at the Bisie… Read More Here