Two Major Trade Bodies Sign Partnership Deal

 

The World Diamond Council (WDC) and the Responsible Jewellery Council (RJC) have agreed to work together on key issues such as the Kimberley Process (KP), conflict diamonds and sustainability.

The two organizations have entered into a cross-membership partnership, meaning the RJC has become a member of the WDC, and the WDC has become a member of the RJC, they said Tuesday. The groups have also signed mutual codes of conduct.

An RJC official will join the WDC’s Kimberley Process (KP) Task Force and participate in discussions about matters including the expansion of the KP’s definition of conflict diamonds, principles for responsible diamond sourcing, and the worldwide adoption of the WDC’s System of Warranties. Meanwhile, a WDC official will become part of an RJC task force that focuses on ensuring the jewelry and watch industry achieves the United Nations’ Sustainable Development Goals (SDGs). Both appointments will take effect immediately.

The WDC and the RJC will report to their members on progress with the System of Warranties and the SDGs, and will help people in the industry apply them into their own businesses.

“Cooperation at this level is critical to raising the level of knowledge about responsible sourcing, driving action, and having a positive impact on all businesses, small and large, at every level of the diamond supply chain,” said Elodie Daguzan, the WDC’s executive director. “Through this partnership, we can do more to increase understanding of the [Kimberley Process Certification Scheme] and present a united industry front dedicated to broadening its scope through the expansion of the definition of conflict diamonds.”

Source: DCLA

Two Major Trade Bodies Sign Partnership Deal

 

The World Diamond Council (WDC) and the Responsible Jewellery Council (RJC) have agreed to work together on key issues such as the Kimberley Process (KP), conflict diamonds and sustainability.

The two organizations have entered into a cross-membership partnership, meaning the RJC has become a member of the WDC, and the WDC has become a member of the RJC, they said Tuesday. The groups have also signed mutual codes of conduct.

An RJC official will join the WDC’s Kimberley Process (KP) Task Force and participate in discussions about matters including the expansion of the KP’s definition of conflict diamonds, principles for responsible diamond sourcing, and the worldwide adoption of the WDC’s System of Warranties. Meanwhile, a WDC official will become part of an RJC task force that focuses on ensuring the jewelry and watch industry achieves the United Nations’ Sustainable Development Goals (SDGs). Both appointments will take effect immediately.

The WDC and the RJC will report to their members on progress with the System of Warranties and the SDGs, and will help people in the industry apply them into their own businesses.

“Cooperation at this level is critical to raising the level of knowledge about responsible sourcing, driving action, and having a positive impact on all businesses, small and large, at every level of the diamond supply chain,” said Elodie Daguzan, the WDC’s executive director. “Through this partnership, we can do more to increase understanding of the [Kimberley Process Certification Scheme] and present a united industry front dedicated to broadening its scope through the expansion of the definition of conflict diamonds.”

Source: DCLA

Beware a Supply Bottleneck

 

The positive sentiment the diamond market experienced during the past few months was a welcome change from the gloomy tone that characterized 2020. Buoyed by holiday sales that proved better than expected, the trade gained the confidence to buy again, even with activity limited mostly to online platforms.

For the first time in many years, polished suppliers struggled to fill orders due to shortages during the fourth quarter. Just a year earlier, the midstream was plagued by what seemed to be a chronic oversupply that pushed down polished prices and caused profit margins to tighten. Among the few benefits of the Covid-19 lockdowns was that manufacturers were forced to freeze rough purchases, stop production, and start depleting the excess inventory they had.

With fewer goods available, it was understandable that the rough market would wake up again in the fourth quarter. The resurgence was a remarkable one, too: The combined volume of De Beers’ and Alrosa’s rough sales rose 57% year on year to 23.9 million carats in the final three months of the year. That’s more carats in a quarter than the two have sold since the beginning of 2017 — itself an anomaly period that arguably fueled the ensuing oversupply crisis.

The positive momentum continued into the new year with reports of sizable rough sales last month. De Beers notched its largest sight in three years, while Petra Diamonds and Mountain Province continued to see good demand at their tender sales, with prices up 8%.

In the February issue of the Rapaport Research Report, we consider the question of whether the strong rough sales are a product of polished demand or of the low supply that typified the market earlier in 2020. It could be both. What’s certain is that the rough market must cool in the coming months or risk throwing the industry back into a polished-oversupply scenario.

Such an event would undo the hard work that went into restoring an equilibrium between the rough and polished markets. It would also fuel skepticism about the stated intention — by miners, manufacturers and retailers alike — of ensuring the diamond market becomes demand driven and more efficient in its operations.

Now, at the start of February 2021, the industry is at a crossroads. Manufacturers must curb their rough purchases to maintain the balance we’ve achieved in recent months and ensure a sustainable recovery. While the holiday season was relatively positive for the industry, global diamond jewelry sales have not yet returned to pre-pandemic levels and are unlikely to do so this year. For now, this means the recovery remains a supply-driven one, and the industry needs to walk the fine line between caution and its enthusiasm to do business again. 

Source: DCLA

Beware a Supply Bottleneck

 

The positive sentiment the diamond market experienced during the past few months was a welcome change from the gloomy tone that characterized 2020. Buoyed by holiday sales that proved better than expected, the trade gained the confidence to buy again, even with activity limited mostly to online platforms.

For the first time in many years, polished suppliers struggled to fill orders due to shortages during the fourth quarter. Just a year earlier, the midstream was plagued by what seemed to be a chronic oversupply that pushed down polished prices and caused profit margins to tighten. Among the few benefits of the Covid-19 lockdowns was that manufacturers were forced to freeze rough purchases, stop production, and start depleting the excess inventory they had.

With fewer goods available, it was understandable that the rough market would wake up again in the fourth quarter. The resurgence was a remarkable one, too: The combined volume of De Beers’ and Alrosa’s rough sales rose 57% year on year to 23.9 million carats in the final three months of the year. That’s more carats in a quarter than the two have sold since the beginning of 2017 — itself an anomaly period that arguably fueled the ensuing oversupply crisis.

The positive momentum continued into the new year with reports of sizable rough sales last month. De Beers notched its largest sight in three years, while Petra Diamonds and Mountain Province continued to see good demand at their tender sales, with prices up 8%.

In the February issue of the Rapaport Research Report, we consider the question of whether the strong rough sales are a product of polished demand or of the low supply that typified the market earlier in 2020. It could be both. What’s certain is that the rough market must cool in the coming months or risk throwing the industry back into a polished-oversupply scenario.

Such an event would undo the hard work that went into restoring an equilibrium between the rough and polished markets. It would also fuel skepticism about the stated intention — by miners, manufacturers and retailers alike — of ensuring the diamond market becomes demand driven and more efficient in its operations.

Now, at the start of February 2021, the industry is at a crossroads. Manufacturers must curb their rough purchases to maintain the balance we’ve achieved in recent months and ensure a sustainable recovery. While the holiday season was relatively positive for the industry, global diamond jewelry sales have not yet returned to pre-pandemic levels and are unlikely to do so this year. For now, this means the recovery remains a supply-driven one, and the industry needs to walk the fine line between caution and its enthusiasm to do business again. 

Source: DCLA

Lucara recovers 341 carat white diamond

 

Canada’s Lucara Diamond has found an unbroken 341-carat white gem-quality rock at its prolific Karowe mine in Botswana, with analysts estimating it could fetch more than $10 million.

The Vancouver based miner said the diamond was recovered over the Christmas period from milling of ore coming from the south western quadrant of Karowe’s South Lobe.

The diamond is the 54th stone over 200 carats recovered at Karowe since it began commercial operations in 2012.

The find builds on previous historic recoveries which include the 342-carat Queen of the Kalahari, the 549 carat Sethunya, the 1,109 carat Lesedi La Rona found in 2015, and the 1758 carat Sewelô, recovered in 2019.

Beyond Sewelô, the only larger diamond ever unearthed is the 3,106 carat Cullinan Diamond, discovered in South Africa in 1905. The Cullinan was later cut into smaller stones, some of which now form part of British royal family’s crown jewels.

Source: DCLA

Lucara recovers 341 carat white diamond

 

Canada’s Lucara Diamond has found an unbroken 341-carat white gem-quality rock at its prolific Karowe mine in Botswana, with analysts estimating it could fetch more than $10 million.

The Vancouver based miner said the diamond was recovered over the Christmas period from milling of ore coming from the south western quadrant of Karowe’s South Lobe.

The diamond is the 54th stone over 200 carats recovered at Karowe since it began commercial operations in 2012.

The find builds on previous historic recoveries which include the 342-carat Queen of the Kalahari, the 549 carat Sethunya, the 1,109 carat Lesedi La Rona found in 2015, and the 1758 carat Sewelô, recovered in 2019.

Beyond Sewelô, the only larger diamond ever unearthed is the 3,106 carat Cullinan Diamond, discovered in South Africa in 1905. The Cullinan was later cut into smaller stones, some of which now form part of British royal family’s crown jewels.

Source: DCLA

Petra Diamonds’ investors back restructuring

 

Struggling Petra Diamonds (LON: PDL) said on Wednesday its investors have approved plans to restructure the business, a move that aims to provide the miner with a more stable, deleveraged capital structure to ensure its short and long-term viability.

Over 95% of shareholders voted in favour of a resolution that includes reducing authorized share capital of the company by cutting the nominal value of all ordinary shares from 10p to 0.001p.

SIGN UP FOR THE PRECIOUS METALS DIGEST
It also involves an increase to Petra’s authorized share capital through the creation of 8.5-million ordinary shares and the authorization for directors to allot ordinary shares up to £88,447 ( just over 8.8-million ordinary shares).

Hefty debt
Petra Diamonds’ weak financial position, a product of stagnant demand and heavy borrowing to expand its mines, particularly the iconic Cullinan, pushed it to put itself up for sale in June. Petra reversed the decision in October, opting instead for the debt-for-equity restructuring approved Wednesday.

The company noted it expected to complete the reorganization in the first quarter of 2021.

Petra’s shares slumped by more than 80% last year as the covid-19 pandemic battered the global diamond sector, with mines forced to shut down while consumer demand continued to fall.

The diamond miner, which has three operations in South Africa and one in Tanzania, is also dealing with allegations of human rights abuses at its Williamson mine in Tanzania, resulting from the actions of its security guards.

Source: DCLA

Petra Diamonds’ investors back restructuring

 

Struggling Petra Diamonds (LON: PDL) said on Wednesday its investors have approved plans to restructure the business, a move that aims to provide the miner with a more stable, deleveraged capital structure to ensure its short and long-term viability.

Over 95% of shareholders voted in favour of a resolution that includes reducing authorized share capital of the company by cutting the nominal value of all ordinary shares from 10p to 0.001p.

SIGN UP FOR THE PRECIOUS METALS DIGEST
It also involves an increase to Petra’s authorized share capital through the creation of 8.5-million ordinary shares and the authorization for directors to allot ordinary shares up to £88,447 ( just over 8.8-million ordinary shares).

Hefty debt
Petra Diamonds’ weak financial position, a product of stagnant demand and heavy borrowing to expand its mines, particularly the iconic Cullinan, pushed it to put itself up for sale in June. Petra reversed the decision in October, opting instead for the debt-for-equity restructuring approved Wednesday.

The company noted it expected to complete the reorganization in the first quarter of 2021.

Petra’s shares slumped by more than 80% last year as the covid-19 pandemic battered the global diamond sector, with mines forced to shut down while consumer demand continued to fall.

The diamond miner, which has three operations in South Africa and one in Tanzania, is also dealing with allegations of human rights abuses at its Williamson mine in Tanzania, resulting from the actions of its security guards.

Source: DCLA

Gem Diamonds back in the black on higher prices

 

Africa-focused Gem Diamonds became on Wednesday the latest miner to show signs of a slow but steady recovery in the market after showing it had swung to positive cash flow and slashed debt on the back of rising diamond prices.

The company reduced its net debt position by $6.6 million in the July-September quarter, ending the period with $1.1 million in cash. This compares to a net debt of $5.5 million in the first half of the year.

The sale of seven diamonds for more than $1 million each helped the miner’s bottom line, generating revenue of $25.6 million during the period.

The company achieved an average diamond price in the third quarter of $2,215 per carat, up from $1,714 per carat in the first half of the year.

“These prices achieved, on a like-for-like basis, are higher than those realized in the pre-covid-19 market conditions of the second half of the 2019 [financial year]”, chief executive Clifford Elphick said in the statement.

The apparent ongoing recovery in the diamond market is still thought to be fragile. De Beers, the world’s largest diamond producer by value, said in early October it was too early to be sure of a sustained upturn in trading conditions.

“Whilst the market has been defibrillated, we think it will remain in intensive care for some time, although any improvement is good news for the smaller pure play producers with weak balance sheets,” BMO Analyst Edward Sterck said in a note last month.

Letšeng back at full tilt
Gem Diamond’s Letšeng mine in Lesotho returned to full ore mining and treatment capacity in a phased manner during the second quarter, the company said.

Enhanced focus on stability and overall uptime of the Letšeng plants resulted in a conscious decision to reduce the instantaneous feed rate to each plant to reduce feed variability and enhance recovery, Gem noted.

Since acquiring Letšeng in 2006, Gem Diamonds has found more than 60 white gem quality diamonds over 100 carats each, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.

The company recently secured a 10-year extension for its mining lease, with the government of Lesotho granting the company exclusive rights for further renewals.

At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is also one of the world’s highest diamond mines.

Source: DCLA

Gem Diamonds back in the black on higher prices

 

Africa-focused Gem Diamonds became on Wednesday the latest miner to show signs of a slow but steady recovery in the market after showing it had swung to positive cash flow and slashed debt on the back of rising diamond prices.

The company reduced its net debt position by $6.6 million in the July-September quarter, ending the period with $1.1 million in cash. This compares to a net debt of $5.5 million in the first half of the year.

The sale of seven diamonds for more than $1 million each helped the miner’s bottom line, generating revenue of $25.6 million during the period.

The company achieved an average diamond price in the third quarter of $2,215 per carat, up from $1,714 per carat in the first half of the year.

“These prices achieved, on a like-for-like basis, are higher than those realized in the pre-covid-19 market conditions of the second half of the 2019 [financial year]”, chief executive Clifford Elphick said in the statement.

The apparent ongoing recovery in the diamond market is still thought to be fragile. De Beers, the world’s largest diamond producer by value, said in early October it was too early to be sure of a sustained upturn in trading conditions.

“Whilst the market has been defibrillated, we think it will remain in intensive care for some time, although any improvement is good news for the smaller pure play producers with weak balance sheets,” BMO Analyst Edward Sterck said in a note last month.

Letšeng back at full tilt
Gem Diamond’s Letšeng mine in Lesotho returned to full ore mining and treatment capacity in a phased manner during the second quarter, the company said.

Enhanced focus on stability and overall uptime of the Letšeng plants resulted in a conscious decision to reduce the instantaneous feed rate to each plant to reduce feed variability and enhance recovery, Gem noted.

Since acquiring Letšeng in 2006, Gem Diamonds has found more than 60 white gem quality diamonds over 100 carats each, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.

The company recently secured a 10-year extension for its mining lease, with the government of Lesotho granting the company exclusive rights for further renewals.

At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is also one of the world’s highest diamond mines.

Source: DCLA

Petra to sell blue diamonds recovered at Cullinan

 

Petra Diamonds (LON: PDL) announced the launching of a special tender process for the Letlapa Tala Collection, which comprises five blue diamonds sourced from the Cullinan mine in South Africa. 

Cullinan is known as the world’s most important source of blue diamonds, as well as being the place of birth of the 3,106-carat Cullinan diamond, which was cut to form the 530-carat Great Star of Africa and the 317-carat Second Star of Africa, being the two largest diamonds in the British Crown Jewels.

In a press release, Petra said that the name of the new collection actually means ‘blue rock’ in Northern Sotho (commonly known as Pedi), the predominant language spoken in the Cullinan area.

CULLINAN IS KNOWN AS THE WORLD’S MOST IMPORTANT SOURCE OF BLUE DIAMONDS

The collection consists of five Type IIb blue diamonds of 25.75, 21.25, 17.57, 11.42 and 9.61 carats, respectively. Type II diamonds contain no detectable nitrogen in their chemical structure and tend to display exceptional transparency. Type IIb stones contain a small amount of boron, which is what determines their blue colour.

“Blue diamonds are so rare that most people working in the diamond industry have never even seen one,” the media release states. “There are no official statistics on their recovery, so it is therefore even more unusual that these five spectacular stones were all recovered within the space of one week’s production in September 2020.”

According to Petra, this is likely to be the first time that five blue rough diamonds have ever been offered for sale at one time, with buyers being offered the chance to bid either on individual stones, more than one, or for the entire collection.

The Letlapa Tala gems will be available for viewings in Antwerp from October 25 to November 1; Hong Kong from November 5  to November 10; and New York from November 16 to November 20, 2020.

Source: DCLA

Petra to sell blue diamonds recovered at Cullinan

 

Petra Diamonds (LON: PDL) announced the launching of a special tender process for the Letlapa Tala Collection, which comprises five blue diamonds sourced from the Cullinan mine in South Africa. 

Cullinan is known as the world’s most important source of blue diamonds, as well as being the place of birth of the 3,106-carat Cullinan diamond, which was cut to form the 530-carat Great Star of Africa and the 317-carat Second Star of Africa, being the two largest diamonds in the British Crown Jewels.

In a press release, Petra said that the name of the new collection actually means ‘blue rock’ in Northern Sotho (commonly known as Pedi), the predominant language spoken in the Cullinan area.

CULLINAN IS KNOWN AS THE WORLD’S MOST IMPORTANT SOURCE OF BLUE DIAMONDS

The collection consists of five Type IIb blue diamonds of 25.75, 21.25, 17.57, 11.42 and 9.61 carats, respectively. Type II diamonds contain no detectable nitrogen in their chemical structure and tend to display exceptional transparency. Type IIb stones contain a small amount of boron, which is what determines their blue colour.

“Blue diamonds are so rare that most people working in the diamond industry have never even seen one,” the media release states. “There are no official statistics on their recovery, so it is therefore even more unusual that these five spectacular stones were all recovered within the space of one week’s production in September 2020.”

According to Petra, this is likely to be the first time that five blue rough diamonds have ever been offered for sale at one time, with buyers being offered the chance to bid either on individual stones, more than one, or for the entire collection.

The Letlapa Tala gems will be available for viewings in Antwerp from October 25 to November 1; Hong Kong from November 5  to November 10; and New York from November 16 to November 20, 2020.

Source: DCLA

Researchers use ‘superdeep’ diamonds to shed light on Earth’s inner workings

 

In a new study led by a University of Alberta PhD student, researchers used diamonds as breadcrumbs to provide insight into some of Earth’s deepest geologic mechanisms.

“Geologists have recently come to the realization that some of the largest, most valuable diamonds are from the deepest portions of our planet,” said Margo Regier, a PhD student in the Faculty of Science under the supervision of Graham Pearson and Thomas Stachel. “While we are not yet certain why diamonds can grow to larger sizes at these depths, we propose a model where these ‘superdeep’ diamonds crystallize from carbon-rich magmas, which may be critical for them to grow to their large sizes.”

Beyond their beauty and industrial applications, diamonds provide unique windows into the deep Earth, allowing scientists to examine the transport of carbon through the mantle.

“The vast majority of Earth’s carbon is actually stored in its silicate mantle, not in the atmosphere,” Regier explained. “If we are to fully understand Earth’s whole carbon cycle, we need to understand this vast reservoir of carbon deep underground.”

The study revealed that the carbon-rich oceanic crust that sinks into the deep mantle releases most of its carbon before it gets to the deepest portion of the mantle. That means most carbon is recycled back to the surface, and only small amounts are stored in the deep mantle—which has significant implications for how scientists understand the Earth’s carbon cycle.

The mechanism is important to understand for a number of reasons, Regier noted.

“The movement of carbon between the surface and mantle affects Earth’s climate, the composition of its atmosphere and the production of magma from volcanoes,” said Regier.

“We do not yet understand if this carbon cycle has changed over time, nor do we know how much carbon is stored in the deepest parts of our planet. If we want to understand why our planet has evolved into its habitable state today and how the surfaces and atmospheres of other planets may be shaped by their interior processes, we need to better understand these variables.”

The study was made possible through a collaboration between researchers at the U of A and the University of Glasgow, including Jeff Harris, who collected the diamond samples. Support through federal funding from the Natural Sciences and Engineering Research Council of Canada, through the Diamond Exploration Research Training School at the U of A, was also integral in enabling the research.

The study, “The Lithospheric to Lower Mantle Carbon Cycle Recorded in Superdeep Diamonds,” was published in Nature.

/University of Alberta Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.
Tags:atmosphere, Canada, climate, council, Engineering, exploration, planet, production, research, research council, school, science, Scientists, Student, university, University of Alberta

Source: DCLA

Researchers use ‘superdeep’ diamonds to shed light on Earth’s inner workings

 

In a new study led by a University of Alberta PhD student, researchers used diamonds as breadcrumbs to provide insight into some of Earth’s deepest geologic mechanisms.

“Geologists have recently come to the realization that some of the largest, most valuable diamonds are from the deepest portions of our planet,” said Margo Regier, a PhD student in the Faculty of Science under the supervision of Graham Pearson and Thomas Stachel. “While we are not yet certain why diamonds can grow to larger sizes at these depths, we propose a model where these ‘superdeep’ diamonds crystallize from carbon-rich magmas, which may be critical for them to grow to their large sizes.”

Beyond their beauty and industrial applications, diamonds provide unique windows into the deep Earth, allowing scientists to examine the transport of carbon through the mantle.

“The vast majority of Earth’s carbon is actually stored in its silicate mantle, not in the atmosphere,” Regier explained. “If we are to fully understand Earth’s whole carbon cycle, we need to understand this vast reservoir of carbon deep underground.”

The study revealed that the carbon-rich oceanic crust that sinks into the deep mantle releases most of its carbon before it gets to the deepest portion of the mantle. That means most carbon is recycled back to the surface, and only small amounts are stored in the deep mantle—which has significant implications for how scientists understand the Earth’s carbon cycle.

The mechanism is important to understand for a number of reasons, Regier noted.

“The movement of carbon between the surface and mantle affects Earth’s climate, the composition of its atmosphere and the production of magma from volcanoes,” said Regier.

“We do not yet understand if this carbon cycle has changed over time, nor do we know how much carbon is stored in the deepest parts of our planet. If we want to understand why our planet has evolved into its habitable state today and how the surfaces and atmospheres of other planets may be shaped by their interior processes, we need to better understand these variables.”

The study was made possible through a collaboration between researchers at the U of A and the University of Glasgow, including Jeff Harris, who collected the diamond samples. Support through federal funding from the Natural Sciences and Engineering Research Council of Canada, through the Diamond Exploration Research Training School at the U of A, was also integral in enabling the research.

The study, “The Lithospheric to Lower Mantle Carbon Cycle Recorded in Superdeep Diamonds,” was published in Nature.

/University of Alberta Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.
Tags:atmosphere, Canada, climate, council, Engineering, exploration, planet, production, research, research council, school, science, Scientists, Student, university, University of Alberta

Source: DCLA

Gem recovers high-quality 233 ct diamond at Letšeng

Gem Diamonds has recovered a high quality 233 ct Type II white diamond from its 70% owned Letšeng mine, in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.

This follows the recent recovery of a high quality 442 ct Type II diamond, one of the world’s largest gem quality diamonds to be recovered this year.

The company noted in a trading statement published in July that the mine had produced about 43 275 ct of diamonds in the first half of this year.

Source: DCLA

Gem recovers high-quality 233 ct diamond at Letšeng

Gem Diamonds has recovered a high quality 233 ct Type II white diamond from its 70% owned Letšeng mine, in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.

This follows the recent recovery of a high quality 442 ct Type II diamond, one of the world’s largest gem quality diamonds to be recovered this year.

The company noted in a trading statement published in July that the mine had produced about 43 275 ct of diamonds in the first half of this year.

Source: DCLA

Star Diamond recovers 2,409 diamonds in second bulk sample

Star Diamond Corp announced that a total A total of 2,409 diamonds weighing 123.27 carats have to date been recovered from the second bulk sample trench (19FALCT004) excavated on its Star kimberlite at the Fort à la Corne kimberlite field in central Saskatchewan.

These initial results are from the second of 10 bulk sample trenches excavated by 60% optionee Rio Tinto Exploration Canada Inc in 2019.

The average diamond grades from the first two trenches are similar to historical diamond grade results detected from the underground bulk sampling and large diameter drilling completed on the Star kimberlite between 2004 and 2009. These results are also similar to the overall weighted average grade 14 carats per hundred tonnes reported in Star Diamond’s PEA of the Star and Orion South kimberlites .

The three largest diamonds recovered to date from 19FALCT004 are 2.98, 2.03 and 1.99 carats, respectively, and were all recovered from Early Joli Fou kimberlite. The EJF is the dominant kimberlite unit within the project in terms of ore volume and diamond grade.

As disclosed by Star Diamond on August 4, 2020, there are indications that recent diamond breakage has occurred in the diamond parcels recovered thus far from RTEC’s trench cutter bulk sampling program, suggesting that the extraction and/or processing systems being used by RTEC may be resulting in diamond breakage. Comprehensive diamond breakage studies are required to assess the nature and extent of the diamond breakage resulting from RTEC’s methods and the possibility that larger diamonds would have been recovered absent such breakage.

Senior vice president of exploration and development, George Read, states: “The initial diamond results from 19FALCT004 and 19FALCT001 continue to show grades similar to the previous underground bulk sampling and LDD performed by Star Diamond on the Star kimberlite. Individual EJF kimberlite samples recovered in the first two trenches exhibit a range of grades 9.81 to 21.22 cpht for 19FALCT004 and 4.88 to 23.34 cpht for 19FALCT001, which are as expected for the EJF kimberlite.”

Source: DCLA

Star Diamond recovers 2,409 diamonds in second bulk sample

Star Diamond Corp announced that a total A total of 2,409 diamonds weighing 123.27 carats have to date been recovered from the second bulk sample trench (19FALCT004) excavated on its Star kimberlite at the Fort à la Corne kimberlite field in central Saskatchewan.

These initial results are from the second of 10 bulk sample trenches excavated by 60% optionee Rio Tinto Exploration Canada Inc in 2019.

The average diamond grades from the first two trenches are similar to historical diamond grade results detected from the underground bulk sampling and large diameter drilling completed on the Star kimberlite between 2004 and 2009. These results are also similar to the overall weighted average grade 14 carats per hundred tonnes reported in Star Diamond’s PEA of the Star and Orion South kimberlites .

The three largest diamonds recovered to date from 19FALCT004 are 2.98, 2.03 and 1.99 carats, respectively, and were all recovered from Early Joli Fou kimberlite. The EJF is the dominant kimberlite unit within the project in terms of ore volume and diamond grade.

As disclosed by Star Diamond on August 4, 2020, there are indications that recent diamond breakage has occurred in the diamond parcels recovered thus far from RTEC’s trench cutter bulk sampling program, suggesting that the extraction and/or processing systems being used by RTEC may be resulting in diamond breakage. Comprehensive diamond breakage studies are required to assess the nature and extent of the diamond breakage resulting from RTEC’s methods and the possibility that larger diamonds would have been recovered absent such breakage.

Senior vice president of exploration and development, George Read, states: “The initial diamond results from 19FALCT004 and 19FALCT001 continue to show grades similar to the previous underground bulk sampling and LDD performed by Star Diamond on the Star kimberlite. Individual EJF kimberlite samples recovered in the first two trenches exhibit a range of grades 9.81 to 21.22 cpht for 19FALCT004 and 4.88 to 23.34 cpht for 19FALCT001, which are as expected for the EJF kimberlite.”

Source: DCLA

A Crucial Moment for Artisanal Miners

The question of how to tackle the hardships facing informal diamond miners is as pressing today as it was when it first arose nearly 20 years ago.

It was first touted as an issue that perhaps the Kimberley Process (KP) could incorporate into its mission. But the KP was not equipped — or mandated — to meet the challenge, even if the sector represented an Achilles heel for a body tasked with facilitating the cross-border trade of responsibly sourced rough.

Instead, the Diamond Development Initiative (DDI) formed, taking a developmental approach to advancing artisanal miners. Since its inception, the DDI’s goal has been to create an infrastructure that allows these miners to sell their diamonds through legitimate means, get a fair price for them, and make a sustainable living.

Operating primarily, though not exclusively, in Sierra Leone and the Democratic Republic of the Congo (DRC), the organization’s work includes enabling community development; engaging with governments to formulate policies; organizing miners into cooperatives; providing professional training; and running initiatives to raise the diggers’ income, such as introducing them to new buyers.

Typically, the diggers work for less than $2 a day. With such low income, they’ve historically been incentivized to sell their diamonds on the black market, where the stones may be smuggled across the border, mixed with other goods, given a KP certificate and sold on the global market.

With an estimated 1 million to 1.5 million people working in the sector across 15 countries in Africa and three in South America, the DDI has spent much of its time registering miners in its systems and educating them on how they can benefit from working through its channels.

The organization achieved a significant milestone in April last year when it launched the Maendeleo Diamond Standards, a certification system designed to connect artisanal and small-scale diamond miners with responsible supply chains.

The standards include training on legal issues, community engagement, human rights, health and safety, ways to ensure violence-free operations, environmental management, interactions with large-scale mining, and navigating a site closure.

Clearly, given the scope of the artisanal mining sector, challenges remain. The DDI has had limited resources to pursue its goals and expand its reach.

In that context, the group announced in late July that it had merged with Resolve, a much larger non-government organization (NGO) engaged in addressing social, health and environmental issues. Being part of Resolve will give the DDI additional resources, such as administrative support for the work it wants to carry out, explained DDI founder and chairman Ian Smillie, who is joining Resolve’s board of advisers along with DDI vice chair Stephane Fischler. The group will be a division within Resolve and go by DDI@Resolve, with DDI executive director Ian Rowe at the helm.

The merger was born of the realization that the vast number of initiatives out there advocating for artisanal miners — not just in diamonds, but also in minerals such as gold, cobalt, tin, tantalum and tungsten — could lead to confusion. With NGOs, private companies, and government agencies all approaching donors and policy-makers to get support for their programs, the messaging could get muddled, Smillie explained. A pooling of resources would make for more efficient processes and a better outcome for the artisanal mining community.

Another example in July was De Beers’ GemFair program partnering with the Deutsche Gesellschaft für Internationale Zusammenarbeit and the Mano River Union — a cross-border association comprising Sierra Leone, Liberia, Guinea and the Ivory Coast — to develop training in those four countries. Efforts like these have become especially important in the Covid-19 environment, where diamond demand has slumped to historic lows.

While the pandemic has halted activity in the DRC, Sierra Leone has been better able to manage due to its experience with the 2014 Ebola outbreak. But like the rest of the trade, artisanal miners need to think beyond Covid-19 and make sure the right systems are in place to facilitate sales when demand returns. That challenge is especially difficult for these miners, who rely on the DDI’s guidance to gain access to the global diamond market. Hopefully, Resolve will help broaden the DDI’s scope. And as activity scales up, it will be up to the greater jewelry industry to support this important part of the global diamond community.

Source: DCLA

A Crucial Moment for Artisanal Miners

The question of how to tackle the hardships facing informal diamond miners is as pressing today as it was when it first arose nearly 20 years ago.

It was first touted as an issue that perhaps the Kimberley Process (KP) could incorporate into its mission. But the KP was not equipped — or mandated — to meet the challenge, even if the sector represented an Achilles heel for a body tasked with facilitating the cross-border trade of responsibly sourced rough.

Instead, the Diamond Development Initiative (DDI) formed, taking a developmental approach to advancing artisanal miners. Since its inception, the DDI’s goal has been to create an infrastructure that allows these miners to sell their diamonds through legitimate means, get a fair price for them, and make a sustainable living.

Operating primarily, though not exclusively, in Sierra Leone and the Democratic Republic of the Congo (DRC), the organization’s work includes enabling community development; engaging with governments to formulate policies; organizing miners into cooperatives; providing professional training; and running initiatives to raise the diggers’ income, such as introducing them to new buyers.

Typically, the diggers work for less than $2 a day. With such low income, they’ve historically been incentivized to sell their diamonds on the black market, where the stones may be smuggled across the border, mixed with other goods, given a KP certificate and sold on the global market.

With an estimated 1 million to 1.5 million people working in the sector across 15 countries in Africa and three in South America, the DDI has spent much of its time registering miners in its systems and educating them on how they can benefit from working through its channels.

The organization achieved a significant milestone in April last year when it launched the Maendeleo Diamond Standards, a certification system designed to connect artisanal and small-scale diamond miners with responsible supply chains.

The standards include training on legal issues, community engagement, human rights, health and safety, ways to ensure violence-free operations, environmental management, interactions with large-scale mining, and navigating a site closure.

Clearly, given the scope of the artisanal mining sector, challenges remain. The DDI has had limited resources to pursue its goals and expand its reach.

In that context, the group announced in late July that it had merged with Resolve, a much larger non-government organization (NGO) engaged in addressing social, health and environmental issues. Being part of Resolve will give the DDI additional resources, such as administrative support for the work it wants to carry out, explained DDI founder and chairman Ian Smillie, who is joining Resolve’s board of advisers along with DDI vice chair Stephane Fischler. The group will be a division within Resolve and go by DDI@Resolve, with DDI executive director Ian Rowe at the helm.

The merger was born of the realization that the vast number of initiatives out there advocating for artisanal miners — not just in diamonds, but also in minerals such as gold, cobalt, tin, tantalum and tungsten — could lead to confusion. With NGOs, private companies, and government agencies all approaching donors and policy-makers to get support for their programs, the messaging could get muddled, Smillie explained. A pooling of resources would make for more efficient processes and a better outcome for the artisanal mining community.

Another example in July was De Beers’ GemFair program partnering with the Deutsche Gesellschaft für Internationale Zusammenarbeit and the Mano River Union — a cross-border association comprising Sierra Leone, Liberia, Guinea and the Ivory Coast — to develop training in those four countries. Efforts like these have become especially important in the Covid-19 environment, where diamond demand has slumped to historic lows.

While the pandemic has halted activity in the DRC, Sierra Leone has been better able to manage due to its experience with the 2014 Ebola outbreak. But like the rest of the trade, artisanal miners need to think beyond Covid-19 and make sure the right systems are in place to facilitate sales when demand returns. That challenge is especially difficult for these miners, who rely on the DDI’s guidance to gain access to the global diamond market. Hopefully, Resolve will help broaden the DDI’s scope. And as activity scales up, it will be up to the greater jewelry industry to support this important part of the global diamond community.

Source: DCLA