Petra Diamonds cuts forecasts, jobs amid market weakness, softer prices
Petra’s sales revenue for the third tender fell 7% to $71 million, bringing year-to-date revenue to $146 million, down from $188 million last year.
Diamond
Gem Diamonds unveils Lesotho mine cost-savings plan
Africa-focused miner Gem Diamonds (LSE: GEMD) announced on Tuesday a revised life-of-mine plan for its prolific Letšeng operation in Lesotho, alongside a two-year extension to the company’s revolving credit facilities. …
Botswana Diamonds granted environmental nod for Thorny River
Botswana Diamonds (LSE: BOD) said on Friday that South Africa’s Department of Mineral Resources and Energy had approved the environmental authorization for one of its two mining permit applications tied…
Covering mining’s projects, people and sticky challenges over a two-decade career
This will be my last editorial for The Northern Miner after 19 years here, and with its sister publications. In December, I’m off to start another adventure outside of mining. …
Diamond miners face turning point amid weak prices: report
The diamond industry, once a symbol of timeless stability, finds itself in a state of flux as prices for natural diamonds hit multiyear lows, driven by a mix of evolving…
Gahcho Kué diamond mine earnings fall in ‘disappointing’ market for De Beers JV
Mountain Province Diamonds (TSX: MPVD) says its third-quarter earnings fell and mine operations swung into a loss as costs rose and grades dropped at the Gahcho Kué joint venture with Anglo…
Anglo American sells Australian coal JV stake for $1.5B
Anglo American (LSE: AAL) has agreed to sell its minority stake in an Australian coal mining joint venture for A$1.6 billion ($1.5 billion), marking a significant step in its strategy…
‘We’ve moved on,’ BHP says of failed Anglo bid, before walking back comments
BHP’s (ASX: BHP) leadership gave its clearest indication yet that it won’t make another bid for smaller rival Anglo American (LSE: AAL), but later walked back some comments about “moving…
Diamond miners’ results spark market recovery hopes
Lucapa Diamond (ASX: LOM) and Petra Diamonds (LSE: PDL) provided a glimmer of hope for the precious gemstones market on Tuesday by posting stronger revenues and production figures, signalling a…
How resource ‘classification debt’ chips away at miners’ growth and investor trust
Over the past decade, resource misclassification has saddled the mining industry with a costly problem. It’s one Guy Desharnais, Osisko Gold Royalties’ (TSX: OR; NYSE: OR) vice-president for project evaluation,…
Diamond sector’s latest marketing campaign aims to sell youth on mined gems
De Beers Group and Signet Jewelers are putting a modern twist on tradition with their new campaign, “Worth the Wait,” aimed at reigniting demand for mined diamonds amid increasing competition…
Lucara sells Clara diamond sales platform to HRA and former CEO Eira Thomas
Lucara Diamond (TSX: LUC) is selling its Clara rough diamond sales platform to its original founders, a group led by the HRA Group of companies and Lucara founder and former…