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Category: Diamond

DRC Authorities Close Kanshi Commune's Artisanal Diamond Mine to Protect Resident Safety 1 Diamond Artisanal mining Mining in DRC 

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

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
DRC Reveals $70 Million Plan to Revitalize MIBA and Increase Diamond Production 2 Mining in DRC Diamond 

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

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
Botswana's Karowe Mine Yields Historic 2,492-Carat Diamond 3 International Diamond 

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

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
Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining 4 Diamond Mining in DRC New Mining Projects 

Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining

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
DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange 5 Mining in DRC Diamond 

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

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
De Beers Group Reports 21% Revenue Decline Amid Challenging Market Conditions 6 International Diamond 

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

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
Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects 7 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 8 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 9 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 10 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

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