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Category: Diamond

Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects 1 Mining in DRC Diamond Drilling 

Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects

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
Botswana Proposes New Law Requiring Local Stake in Mining Operations 2 International Diamond 

Botswana Proposes New Law Requiring Local Stake in Mining Operations

Constance
Botswana is proposing a new law that mandates mining companies to sell a 24% stake in their operations to local citizens or citizen-owned companies once a license is granted, should the government choose not to exercise its option to acquire the shareholding. Botswana, renowned for its rich natural resources, particularly diamonds, saw its diamond production valued at $3.28 billion in 2023, making it the leading diamond producer in Africa and the second globally, only behind Russia, which had a production value of $3.60 billion. The proposed amendment to the existing… Read More Here
DRC to Establish Joint Company for Local Diamond Processing and Jewelry Manufacturing 3 Mining in DRC Diamond Economy 

DRC to Establish Joint Company for Local Diamond Processing and Jewelry Manufacturing

Constance
The Democratic Republic of Congo (DRC) is set to establish a joint company dedicated to the local cutting and polishing of diamonds and colored stones, as well as jewelry manufacturing. This initiative was announced on Tuesday, July 16, following a meeting between Kizito Pakaboma, head of the Congolese mining sector, and Teit Ritzau, Managing Director of the Swiss firm Adex Platform, an international consortium specializing in diamonds and precious stones. According to the Ministry of Mines’ communications unit, the Adex Platform AG delegation presented a report detailing the progress of… Read More Here
Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges 4 International Diamond 

Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges

Constance
Anglo American (LON: AAL) announced last week that it is considering additional cuts to diamond production due to ongoing market challenges, complicating its plans to sell its De Beers unit as part of a significant business overhaul. The restructuring plan was announced in May following the successful rebuttal of a $49 billion takeover approach from BHP (ASX: BHP), the world’s largest miner. The plan includes the sale or divestment of its 85% stake in De Beers, the world’s largest diamond producer by value, to focus on copper, iron ore, and… Read More Here
DRC: Former Kasai Governor Accused of Diamond Smuggling 5 Mining in DRC Diamond 

DRC: Former Kasai Governor Accused of Diamond Smuggling

Constance
Former Kasai Governor Dieudonné Pieme Tutkot is embroiled in a mining smuggling scandal, facing accusations of illicit diamond trafficking, as reported by MINES.CD from a reliable source. The former provincial executive allegedly engaged in this illegal mineral exploitation for several years. Reports indicate he purchased a dredge using taxpayer funds, stored in a safe. “We worked for several months without knowing the number of diamonds involved. The ex-governor’s associate, with whom we collaborate, has a safe. It was only at the end of his term that he opened it to… Read More Here
Mayor of Mbuji-Mayi Cracks Down on Illegal Diamond Mining in Residential Areas 6 Mining in DRC Artisanal mining Diamond 

Mayor of Mbuji-Mayi Cracks Down on Illegal Diamond Mining in Residential Areas

Constance
In Mbuji-Mayi, the capital of the Kasaï-Orientale province in the Democratic Republic of Congo (DRC), an old practice has resurfaced: artisanal miners are digging for diamonds in residential plots. The consequences of such mining have prompted the town’s mayor to issue a stern warning to those involved. After conducting a raid, Jean-Marie Lutumba, Mayor of Mbuji-Mayi, condemned the illicit exploitation, which is reportedly occurring with the complicity of certain members of the FARDC (Armed Forces of the DRC) and the police. “I have invited the head of the hydro mine… Read More Here
Diamond Market Crisis Hits Mbuji-Mayi - Prices Plummet 7 Mining in DRC Diamond 

Diamond Market Crisis Hits Mbuji-Mayi – Prices Plummet

Constance
The diamond market is experiencing a dramatic downturn In Mbuji-Mayi, the capital of the Kasai-Oriental province. Recently, the price of a carat of diamond has dropped from $2 to less than $1. This significant price fluctuation in the Democratic Republic of Congo’s diamond capital is driven by the forces of supply and demand. “Prices rise with demand and the quality of the merchandise,” noted Dieudonné Kalala, president of the provincial diamond council, as reported by UN radio in the DRC. He explained that international market demands directly impact local buyers… Read More Here
Lucapa to sell majority stake in Lesotho diamond mine 8 International Diamond 

Lucapa to sell majority stake in Lesotho diamond mine

Constance
Australia’s Lucapa Diamond (ASX: LOM) has put its 70% stake in the Mothae mine in Lesotho up for sale to focus on its core assets and is discussing options for the 30% held by the country’s government. The diamond miner’s board said it was “considering all options for the divestment” and finalizing a data room for interested parties. “On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” chairman Stuart Brown said in the statement. “The company’s collaboration with… Read More Here
Anglo American to Sell De Beers Amid Industry Turmoil 9 International Diamond 

Anglo American to Sell De Beers Amid Industry Turmoil

Constance
Anglo American announced on Tuesday its plans to spin off or sell its De Beers diamond business, ending an almost century-long association with the industry’s most renowned name. This decision is part of a broader restructuring strategy aimed at countering a $43 billion takeover bid from BHP Group, marking a significant shift in the diamond world. The diamond industry is currently under pressure from slumping prices, sanctions on Russia affecting trade, and the rising popularity of lab-grown gems, which are encroaching on traditional markets. The uncertainty surrounding the future operation… Read More Here
DRC Diamond Exports Experience Historic Decline Over a Decade 10 Mining in DRC Diamond Economy 

DRC Diamond Exports Experience Historic Decline Over a Decade

Constance
Over the span of a decade, from 2013 to 2023, the Democratic Republic of Congo (DRC) has witnessed a significant downturn in diamond exports, as revealed by statistical data from the Ministry of Mines via the technical cell for coordination and mining planning (CTCPM). In 2023, the DRC’s diamond production reached 8,305,796.60 carats, nearly half of the 2017 production peak of 17,924,982.26 carats, marking the lowest level recorded since 2019. Compared to 2022, diamond production in 2017 experienced a decline of over 28%. Over the past five years, it has… Read More Here

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