GIA Embraces Automated Clarity Grading

The Gemological Institute of America (GIA) has teamed up with IBM Research to develop an automated system for grading the clarity of a diamond.

The artificial intelligence (AI) technology uses data from tens of millions of diamonds GIA laboratories have examined in the past, applying the institute’s existing grading standards. It’s already in limited use at the GIA’s New York and Carlsbad laboratories, the institute said Monday.

Grading laboratories have increasingly invested in AI in recent years, as it promises more accurate and consistent results. Sarine Technologies unveiled its automated color and clarity grading equipment in 2016, while the GIA has been working with IBM on the joint project for around two years.

“IBM’s AI technology, combined with GIA’s expertise, extensive data and gemological-research capabilities, enables us to deliver advancements in consistency, accuracy and speed unlike any other organization,” said Tom Moses, the GIA’s executive vice president and chief laboratory and research officer.

The program will initially include the most popular diamond sizes. The GIA aims to expand it to other sizes, shapes and qualities in the future. The GIA and IBM are planning other collaborations combining gemological evaluation with AI.

Source: DCLA

GIA Embraces Automated Clarity Grading

The Gemological Institute of America (GIA) has teamed up with IBM Research to develop an automated system for grading the clarity of a diamond.

The artificial intelligence (AI) technology uses data from tens of millions of diamonds GIA laboratories have examined in the past, applying the institute’s existing grading standards. It’s already in limited use at the GIA’s New York and Carlsbad laboratories, the institute said Monday.

Grading laboratories have increasingly invested in AI in recent years, as it promises more accurate and consistent results. Sarine Technologies unveiled its automated color and clarity grading equipment in 2016, while the GIA has been working with IBM on the joint project for around two years.

“IBM’s AI technology, combined with GIA’s expertise, extensive data and gemological-research capabilities, enables us to deliver advancements in consistency, accuracy and speed unlike any other organization,” said Tom Moses, the GIA’s executive vice president and chief laboratory and research officer.

The program will initially include the most popular diamond sizes. The GIA aims to expand it to other sizes, shapes and qualities in the future. The GIA and IBM are planning other collaborations combining gemological evaluation with AI.

Source: DCLA

WA cuts diamond royalty rate

Western Australia has reduced its diamond royalty rate by a significant 33.3 per cent, a move that has been welcomed by Gibb River Diamonds.

The company’s lobbying has led to the reduction of the state diamond gross royalty rate from 7.5 per cent to 5 per cent.

Gibb River stated that the royalty change was in line with the recommendations of the Mineral Royalty Rate Analysis report.

This was published by the Western Australian Department of State Development and Department of Mines and Petroleum in 2015.

“The board of (Gibb River) believes that the reduction of the diamond royalty will have a very positive effect on the sector and is an extremely helpful step in further (Gibb River’s) aim of becoming a profitable diamond producer in Western Australia,” the company stated in an ASX announcement.

The rate is comparable to the 5 per cent royalty rate applied to Rio Tinto’s Argyle diamond project in Western Australia as of May this year, which was amended from the 7.5 per cent rate in 2006 when Rio Tinto decided to proceed with underground mining.

Gibb River operates the Ellendale diamond project in the West Kimberley, which supplies over 50 per cent of the world’s fancy yellow diamonds every year.

The rare colour had driven United States jeweller Tiffany & Co to ink a six-year deal with Ellendale’s former operator, Kimberley Diamonds, for the supply of the diamonds in the past.

Source: DCLA

WA cuts diamond royalty rate

Western Australia has reduced its diamond royalty rate by a significant 33.3 per cent, a move that has been welcomed by Gibb River Diamonds.

The company’s lobbying has led to the reduction of the state diamond gross royalty rate from 7.5 per cent to 5 per cent.

Gibb River stated that the royalty change was in line with the recommendations of the Mineral Royalty Rate Analysis report.

This was published by the Western Australian Department of State Development and Department of Mines and Petroleum in 2015.

“The board of (Gibb River) believes that the reduction of the diamond royalty will have a very positive effect on the sector and is an extremely helpful step in further (Gibb River’s) aim of becoming a profitable diamond producer in Western Australia,” the company stated in an ASX announcement.

The rate is comparable to the 5 per cent royalty rate applied to Rio Tinto’s Argyle diamond project in Western Australia as of May this year, which was amended from the 7.5 per cent rate in 2006 when Rio Tinto decided to proceed with underground mining.

Gibb River operates the Ellendale diamond project in the West Kimberley, which supplies over 50 per cent of the world’s fancy yellow diamonds every year.

The rare colour had driven United States jeweller Tiffany & Co to ink a six-year deal with Ellendale’s former operator, Kimberley Diamonds, for the supply of the diamonds in the past.

Source: DCLA

Alrosa, ZCDC JV starts prospecting for diamonds in Zimbabwe

Alrosa Zimbabwe (Alrosa Zim), a joint venture (JV) between Russian diamond miner Alrosa and Zimbabwe State-owned miner Zimbabwe Consolidated Diamond Company (ZCDC), has started prospecting and preliminary exploration works for primary diamond deposits.

After getting special grants from the Ministry of Mines and Mining Development, Alrosa Zim had the environmental-impact assessment (EIA) approved by the Environmental Management Agency (EMA), and is set to begin prospecting and exploration in the Masvingo, Matebeleland South and Matebeleland North provinces of Zimbabwe.

In July, Alrosa Zim’s geologists started geochemical sampling, trenching and pitting in Malipati zone, with ground geophysical surveys to follow.

The same prospecting work, including airborne geophysical surveys, is set to be conducted in the Maitengwe area towards the end of year.

Bulk sampling and drilling are set to begin in 2021.

“Following the signing of a JV agreement with ZCDC to develop diamond deposits in Zimbabwe in December 2019, we are progressing well towards the initiation of the full-scale prospecting works this year.

“Being a member of Responsible Jewellery Council, the World Diamond Council and the Natural Diamond Council, Alrosa complies in full with all industry commitments on responsible business practices and its own corporate standards.

“Alrosa is committed to follow these principles strictly while working in Zimbabwe, minimising adverse environmental impact in all areas of activities and using mineral resources comprehensively and rationally,” says Alrosa deputy CEO Vladimir Marchenko.

Alrosa expects to investment $12-million in Zimbabwe from 2020 to 2022.

Alrosa holds 70% of Alrosa Zimbabwe, and ZCDC the balance. The JV focuses on prospecting, exploration and mining of primary diamond deposits in Zimbabwe. 

Source: DCLA

Alrosa, ZCDC JV starts prospecting for diamonds in Zimbabwe

Alrosa Zimbabwe (Alrosa Zim), a joint venture (JV) between Russian diamond miner Alrosa and Zimbabwe State-owned miner Zimbabwe Consolidated Diamond Company (ZCDC), has started prospecting and preliminary exploration works for primary diamond deposits.

After getting special grants from the Ministry of Mines and Mining Development, Alrosa Zim had the environmental-impact assessment (EIA) approved by the Environmental Management Agency (EMA), and is set to begin prospecting and exploration in the Masvingo, Matebeleland South and Matebeleland North provinces of Zimbabwe.

In July, Alrosa Zim’s geologists started geochemical sampling, trenching and pitting in Malipati zone, with ground geophysical surveys to follow.

The same prospecting work, including airborne geophysical surveys, is set to be conducted in the Maitengwe area towards the end of year.

Bulk sampling and drilling are set to begin in 2021.

“Following the signing of a JV agreement with ZCDC to develop diamond deposits in Zimbabwe in December 2019, we are progressing well towards the initiation of the full-scale prospecting works this year.

“Being a member of Responsible Jewellery Council, the World Diamond Council and the Natural Diamond Council, Alrosa complies in full with all industry commitments on responsible business practices and its own corporate standards.

“Alrosa is committed to follow these principles strictly while working in Zimbabwe, minimising adverse environmental impact in all areas of activities and using mineral resources comprehensively and rationally,” says Alrosa deputy CEO Vladimir Marchenko.

Alrosa expects to investment $12-million in Zimbabwe from 2020 to 2022.

Alrosa holds 70% of Alrosa Zimbabwe, and ZCDC the balance. The JV focuses on prospecting, exploration and mining of primary diamond deposits in Zimbabwe. 

Source: DCLA

Petra Diamonds sells Botswana exploration assets

Petra Diamonds (PDL.L) has agreed to sell its Botswanan exploration assets to Botswana Diamonds (BODP.L) for $300,000 and a 5% royalty on future revenue, the diamond miner, which is in the process of restructuring, said on Monday.

The purchase price will be payable in two equal instalments on or before August 31, 2021 and August 31, 2022, Petra said. Botswana Diamonds has the option to buy out the royalty for $2 million in cash.

Petra’s subsidiary Sekaka Diamonds Exploration (Pty) Limited, which Botswana Diamonds would take over, holds three prospecting licences including the KX36 project, which has an indicated resource of 17.9 million tonnes at 35 carats per hundred tonnes.

Botswana Diamonds managing director James Campbell said KX36 would be the company’s most advanced project in southern Africa, and Sekaka’s exploration database would also be “hugely complementary” to its current activities.

Petra, which has been planning to sell Sekaka since June 2018, said the deal is separate to the sales process it announced last month as part of its restructuring.

“The first tranche of the purchase consideration is not expected to be received until August 2021, making the sale too long-dated to help with Petra’s immediate cash flow challenges,” said BMO analyst Edward Sterck.

The sale still requires approval from the Botswana Competition Commission, ministerial consent in Botswana, and approval from Petra’s lenders and debtholders.

Campbell said he hopes the deal will be sealed by August 31.

Source: DCLA