EU Commission proposes Russian diamond ban

Mining News Pro - The European Commission has proposed a ban on imports of diamonds and liquid petroleum gas from Russia and also to tighten implementation of a price cap on Russian oil as part of new sanctions against Moscow, EU diplomats said on Wednesday.

De Beers keeps production target despite supply glut

Mining News Pro - De Beers is sticking to its 2023 production target because it is confident of the long-term outlook, its chief executive said on Monday, despite a glut in diamond supply amid weakening demand.

The diamond world takes radical steps to stop a pricing plunge

Mining News Pro - When the world’s most important diamond buyers arrived at De Beers’ offices in Botswana late last month, they were presented with a rare offer by their host: the option to buy nothing at all.

Stornoway Diamond files for bankruptcy for second time, stops operations at Quebec site

Mining News Pro - Stornoway Diamond Inc. is filing for bankruptcy protection for the second time in four years as the miner struggles to deal with volatile pricing on global markets.

G7 announcement on Russian diamond ban expected by end of month

Mining News Pro - A G7 statement announcing a ban on imports of Russian diamonds is expected by the end of this month, followed closely by a proposal for the European Union’s 12th package of sanctions on Russia, diplomatic sources said.

Alrosa suspends diamond supply for Sept-Oct – India’s trade body

Mining News Pro - Russian diamond producer Alrosa has suspended rough diamond supply for September and October after a request from India’s leading trade body, the Gems and Jewellery Export Promotion Council (GJEPC) said on Wednesday.

G7 to launch Russian diamond ban in bid to curb revenues, Belgium says

Mining News Pro - The Group of Seven (G7) countries is expected to announce an import ban on Russian diamonds in the next 2-3 weeks, Belgian officials told reporters on Friday, in a bid to tighten a squeeze on Russia’s capacity to finance the war in Ukraine.

De Beers ends lab-grown engagement diamonds foray as prices drop

Mining News Pro - De Beers decided to call time on offering lab-grown diamonds for engagement rings even as the man-made alternatives continue to cannibalize demand in one of the company’s most important markets.

Alrosa says mines largest gem-quality diamond in Russia in decade

Mining News Pro - Sanctions-hit Alrosa, the world’s biggest diamond producing company, said on Sunday it has mined the largest gem-quality diamond in Russia in the past decade.

India asks US to release funds frozen over suspected Russia diamond link

Mining News Pro - India has asked the United States to release $26 million belonging to at least two Indian diamond firms frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters.

De Beers to aid employees in evacuation amid wildfires in Canada’s Northwest Territories

Mining News Pro - Anglo American unit De Beers Group said on Thursday it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires.

De Beers to aid employees in evacuation amid wildfires in Canada’s Northwest Territories

Mining News Pro - Anglo American unit De Beers Group said on Thursday it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires.

De Beers $2.3bn Venetia mine expansion yields first diamonds

Mining News Pro - De Beers, the world’s largest diamond producer by value, announced on Tuesday it has recovered the first diamonds from its new $2.3 billion underground operations at Venetia mine in South Africa.

De Beers agrees to give Botswana more rough diamonds in new sales pact

Mining News Pro - Botswana and De Beers Group have agreed to a new diamond sales deal in which the African country, the world’s No. 1 diamond producer by value, gradually increases the share of rough stones it gets from their joint venture Debswana over the next decade to 50%, the government and the mining company said on Saturday.

Botswana says it is still keen on De Beers partnership, confident of new deal

Mining News Pro - Botswana wants to maintain its partnership with De Beers and is confident that ongoing negotiations for a new diamond sales agreement will succeed, a government spokesperson said on Tuesday.

Namibia considers taking stakes in mining and petroleum companies

Mining News Pro - Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources.

Botswana president insists on bigger share of diamonds from De Beers venture

Mining News Pro - Botswana will not back down on demands for a bigger share of rough diamonds from its joint venture with De Beers, President Mokgweetsi Masisi said on Thursday, upping the stakes as talks for a new sales deal appear to be stalling.

Dubai Diamond Exchange, Sotheby’s unveil world’s largest ruby

Mining News Pro - The Dubai Multi Commodities Centre (DMCC) has hosted the unveiling of two remarkable gemstones at its Dubai Diamond Exchange (DDE).

G7 to discuss diamond trade with future Russia sanctions in mind

Mining News Pro - Leaders of the Group of Seven (G7) nations will discuss how to trace Russian diamond trade at a summit this week with the aim of imposing restrictions at a later stage, an EU official said on Thursday.

South Africans call for UK to return diamonds set in crown jewels

Mining News Pro - Some South Africans are calling for Britain to return the world’s largest diamond, known as the Star of Africa, which is set in the royal sceptre that King Charles III will hold at his coronation on Saturday.

Argyle’s last Pink Diamond

Mining News Pro - Rio Tinto has revealed the latest addition to its collection of Argyle Pink Diamonds jewellery, showcasing one of the last diamonds to be extracted from the now shuttered Argyle mine in WA.

Rare zircon samples give new clues on earth’s ancient dwellers

Mining News Pro - Geoscientists at Heidelberg University have succeeded in tracing very old and rare samples of the mineral zircon that host graphite inclusions in which light carbon is identifiable as a remnant of ancient life.

Botswana mining growth seen flat amid dim diamond outlook

Mining News Pro - Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday.

Rio Tinto to spend $40m on Diavik diamond mine expansion

Mining News Pro - Rio Tinto is going ahead with a $40 million expansion of its iconic Diavik diamond mine in the Northwest Territories of Canada, which will extend the operation’s life to at least early 2026.

Superdeep diamond reveals new info on earth’s geological processes

Mining News Pro - A recent paper published in the journal Nature points to a “superdeep” diamond recovered in Kankan, Guinea, as the messenger of new information on plate tectonics, the geological processes that give rise to mountains, oceans and continents.

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