News
Lundin achieves record quarterly gold output at its flagship Ecuador mine
Vancouver-based Lundin Gold has reported that in the third quarter of 2026, gold production at its Fruta del Norte mine in southeast Ecuador hit a new quarterly record.
Today
Richemont, Signet in talks to join De Beers consortium – report
Luxury group Richemont and US retailer Signet Jewelers are in advanced talks to join the Global Diamond Consortium (GDC) bidding for De Beers, according to five people familiar with the matter, Bloomberg reports.
16 october 2026
Rio Tinto begins Q4 of 2026 with strong operational performance
The Anglo-Australian mining group Rio Tinto has reported its third-quarter 2026 results, highlighting strong operational performance.
16 october 2026
Silver market deficit to widen in 2026 - report
In the latest World Silver Survey prepared by the Silver Institute and Metals Focus, the global silver market deficit is forecast to widen for the sixth consecutive year to 46.3 million ounces.
16 october 2026
Tharisa signs PGM offtake deal with Valterra Platinum, expands chrome collaboration
South Africa’s Tharisa has entered a binding arrangement for the sale of PGM concentrate to Rustenburg Platinum Mines, a subsidiary of Valterra Platinum, effective 1 January 2027.
16 october 2026
Stellar Diamonds signs JVs for Guinea and Liberia projects
21 december 2016
(digitallook.com) - AIM-listed Stellar Diamonds has agreed to joint ventures with Dubai-based Citigate Commodities Trading, over the miner’s kimberlite project in Guinea and two exploration licences in Liberia. The joint ventures will allow the company to focus on the proposed Tongo-Tonguma transaction in Sierra Leone, which offers significant value potential. Stellar's local teams will manage the programmes for at least the first phase of work on each project, which the company will receive a management fee.
Rough Supply Signals Shift in Balance of Power
20 december 2016
(diamonds.net) - Profit is the new turnover in the diamond trade. As retail inventory levels continue to shrink due to recession-driven efficiencies, the trade has had to change its mindset. No longer can diamantaires play the high-volume production game: they have to do more with less. It seems 2015 provided the wake-up call which enabled a more profitable trade this year. Some credit, though not all, can be given to the mining companies who carefully limited supply this year. Still, with the final sight of the year now over, De Beers sales rose an impressive 36 percent to about $5.83 billion in 2016. While in the past that would have triggered the uncomfortable sense the “syndicate” is profiting at the expense of the trade, this year feels a little different. The disproportionate correlation between rough diamond prices and their polished counterparts was less extreme than in previous years, even as it still exists.
AWDC Talks on Reinventing Diamond Financing Landscape a Hit in London
20 december 2016
(thediamondloupe.com) - In the end of September, Antwerp World Diamond Centre and the Government of Flanders hosted a seminar on innovation in diamond financing at the Royal Academy of Arts in London. A standing-room only crowd packed the stately Reynolds Room in Burlington House, surrounded by a series of 20th-century British impressionist paintings appropriately titled "Reinventing Landscape", and reinventing the diamond financing landscape is precisely what AWDC has in mind: "Innovation is driving the financial industry forward at an unprecedented pace. New developments present tremendous opportunities to banks and the diamond industry." The Diamond Talks featured four experts who shared their views on the latest trends and emerging innovations in the world of finance, ranging from diamond banking to state-of-the-art technologies such as the blockchain and trade finance instruments.
Why De Beers is Flooding a Subarctic Diamond Mine After 8 Years
19 december 2016
(bloomberg.com) - Anglo American Plc’s De Beers will flood a massive diamond mine located beneath a subarctic lake in Canada’s Northwest Territories after failing to find a buyer. De Beers will begin inundating tunnels at its Snap Lake mine in early January, it said in a statement distributed late Thursday. In April, it put the site on care and maintenance, saying it would decide whether the mine could be made viable in the next year. The company hired Bank of Montreal as an adviser to sell it, but no agreement could be reached. The rich diamond deposit beneath Snap Lake is in a remote area 220 kilometers (137 miles) northeast of Yellowknife. Since it opened in 2008, it has never turned a profit, plagued by engineering challenges related to keeping the site dry. It was originally expected to operate until 2028.
Diamond market fragile but dearth of new supply by 2018
19 december 2016
(miningmx.com) - There are two ways of looking at the diamond market presently. On a short-term basis, conditions are still delicate. “There are some encouraging signs with rough trade through Antwerp and rough imports into India picking up in September,” said Myles Allsop, an analyst for UBS. Overall, however, the market is fragile as “… meaningful price increases appear unlikely near-term”. The other perspective is the long-sighted lens where the prospects of the diamond industry have long been trumpeted owing to a significant dearth in new diamond finds. Analysts think that by around 2018 to 2020, the lack of new discoveries will start to exert a positive influence on diamond prices.
