Last kimberlite trucked to plant at De Beers Victor mine

The last truckload of kimberlite from Ontario’s first and only diamond mine has left the pit. De Beers Canada said mining ceased on March 5 – 11 years to the day after the official opening in 2008.

The honour of driving the last truck went to Nancy Wesley, of Kashechewan First Nation. She worked at Victor for 11 years, as a haul truck driver, dozer operator and production drill operator.

Stockpiled kimberlite will keep the recovery plant running until early May.

The Victor mine was forecast to produce 6 million carats of diamonds over its life, but it beat that by recovering a total of 8 million carats – with a record 936,000 carats produced in 2018.

The project provided about 1,360 jobs and $3.7 billion of revenue to the province.

Source: DCLA

Last kimberlite trucked to plant at De Beers Victor mine

The last truckload of kimberlite from Ontario’s first and only diamond mine has left the pit. De Beers Canada said mining ceased on March 5 – 11 years to the day after the official opening in 2008.

The honour of driving the last truck went to Nancy Wesley, of Kashechewan First Nation. She worked at Victor for 11 years, as a haul truck driver, dozer operator and production drill operator.

Stockpiled kimberlite will keep the recovery plant running until early May.

The Victor mine was forecast to produce 6 million carats of diamonds over its life, but it beat that by recovering a total of 8 million carats – with a record 936,000 carats produced in 2018.

The project provided about 1,360 jobs and $3.7 billion of revenue to the province.

Source: DCLA

Thieves tunnelled into jewellers to take £1,000,000 in diamonds and gems

An upmarket Fleet Street jewellers has been robbed by burglars who tunnelled in Hatton Garden style and made off with an estimated £1 million in diamonds and gems.

George Attenborough and Son Jewellers on Fleet Street in central London was hit at some stage over the weekend, as thousands of runners competing in the London Landmarks Half Marathon thundered past nearby. The firm advertises items worth tens of thousands of pounds such as Cartier diamond rings on its website.

The Sun suggested the thieves who are still at large used drills to gain access to the secure building and complete the raid. A Scotland Yard statement confirmed members of its Serious and Organised Crime Command were involved in the investigation.

It said: ‘Police were called shortly before 2am on Monday, March 25, to a report of a burglary at a jewellers in Fleet Street. ‘A quantity of jewellery was stolen. ‘An investigation has been launched, led by detectives from the Met’s Flying Squad.

‘Forensic examination work is continuing at the scene. ‘No arrests have been made. Enquiries are ongoing to establish the circumstances and identify those responsible.
Source: DCLA

Thieves tunnelled into jewellers to take £1,000,000 in diamonds and gems

An upmarket Fleet Street jewellers has been robbed by burglars who tunnelled in Hatton Garden style and made off with an estimated £1 million in diamonds and gems.

George Attenborough and Son Jewellers on Fleet Street in central London was hit at some stage over the weekend, as thousands of runners competing in the London Landmarks Half Marathon thundered past nearby. The firm advertises items worth tens of thousands of pounds such as Cartier diamond rings on its website.

The Sun suggested the thieves who are still at large used drills to gain access to the secure building and complete the raid. A Scotland Yard statement confirmed members of its Serious and Organised Crime Command were involved in the investigation.

It said: ‘Police were called shortly before 2am on Monday, March 25, to a report of a burglary at a jewellers in Fleet Street. ‘A quantity of jewellery was stolen. ‘An investigation has been launched, led by detectives from the Met’s Flying Squad.

‘Forensic examination work is continuing at the scene. ‘No arrests have been made. Enquiries are ongoing to establish the circumstances and identify those responsible.
Source: DCLA

Petra Diamonds shares jump on 425-carat discovery at Cullinan

Shares in Petra Diamonds jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.

The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world’s biggest ever diamond, which was unearthed in 1905.
“Earlier in March, Petra had recovered a 100.83 carat, white D-colour type II gem-quality stone”

The company, which appointed last month former gold miner Richard Duffy as chief executive, said both recoveries demonstrated the frequency of such large stones at Cullinan.

Petra, which has been seeking to turn around its fortunes after piling up debt to expand the operation, plans to sell the 425.1 carat diamond during the June quarter.

Diamond miners are struggling across the board, especially those producing cheaper and smaller stones where there is too much supply. In December, some of Rio Tinto’s customers refused to buy cheaper diamonds, while De Beers has been forced to cut prices and offer concessions to buyers.

Source: DCLA

Petra Diamonds shares jump on 425-carat discovery at Cullinan

Shares in Petra Diamonds jumped more than 8% on Friday after the miner announced it had dug up a 425.1 carat, D colour, Type II gem quality diamond at its iconic Cullinan mine in South Africa.

The discovery comes less than a month after Petra found a 100.83 carat gem-quality white diamond at the same mine, source of the world’s biggest ever diamond, which was unearthed in 1905.
“Earlier in March, Petra had recovered a 100.83 carat, white D-colour type II gem-quality stone”

The company, which appointed last month former gold miner Richard Duffy as chief executive, said both recoveries demonstrated the frequency of such large stones at Cullinan.

Petra, which has been seeking to turn around its fortunes after piling up debt to expand the operation, plans to sell the 425.1 carat diamond during the June quarter.

Diamond miners are struggling across the board, especially those producing cheaper and smaller stones where there is too much supply. In December, some of Rio Tinto’s customers refused to buy cheaper diamonds, while De Beers has been forced to cut prices and offer concessions to buyers.

Source: DCLA

Eurostar Diamond Traders Enters Bankruptcy

Eurostar Diamond Traders, one of the biggest names in the Antwerp industry, has entered bankruptcy following a legal battle with its banks.

The Antwerp Corporate Court ruled Thursday in favor of that outcome. Eurostar plans to appeal the decision, according to the company’s chairman and founder, Kaushik Mehta.

“For Kaushik Mehta and Eurostar, this is a very disappointing day, which he still is appealing and fighting,” the diamond-manufacturing firm said in a statement to Rapaport News.

Eurostar blamed its main lenders, ABN Amro and Standard Chartered, for being too aggressive in demanding repayment of debts. Both banks declined to comment.

The company owes an estimated $500 million, according to court-appointed administrator Alain Van den Cloot.

Source: DCLA