London-listed Gem Diamonds increased its revenue by 41% in the final quarter of 2019 following a rise in prices for precious stones, including high quality diamonds. The mining firm’s revenue increased from US$36.3 million in the previous quarter to $51.3 million in Q4, with a 21%...
Ruby and emerald miner Gemfields Group will rejoin London’s alternative investment market (AIM) on February 14th, three years after a hostile takeover deal took the company private. Gemfields was acquired by major shareholder Pallinghurst for US$212 million in 2017 but is now poised to return...
ASX-listed Lucapa Diamond Company has reported a record year of production from its two African mines – Mothae in Lesotho and Lulo in Angola. The two operations produced 49,120 carats of diamonds in 2019 which helped the company make combined sales of US$55 million from the...
[caption id="attachment_23668" align="alignleft" width="550"] Image: Rio Tinto Flikr[/caption] Western Australia’s iconic Argyle mine has produced one of the largest gem-quality white diamonds in its 35-year history, after Rio Tinto uncovered a 28.83 carat stone in March. The diamond has been named Argyle Octavia for its unusual octahedral...
Petra Diamonds last week discovered the second largest diamond in its history at the Cullinan mine in South Africa – the same site where the world’s biggest diamond was found over a century ago. The 425.1 carat stone is one of the most collectible forms of...
A diamond necklace featuring the largest ever D-flawless, emerald cut diamond has sold for US$33.7 million at an auction at Christie’s in Geneva, Switzerland. The 163-carat precious stone was first discovered in 2016 by Australian miner Lucapa Diamond in Angola. The original 404-carat rough stone is...
Lucara Diamond Corp (TSE:LUC) has sold the world’s second largest diamond ever recovered to UK jeweller Graff Diamonds for US$53 million. The 1,109-carat stone named Lesedi La Rona was found by the Canada-based firm in November 2015 at its Karowe mine in Botswana and is also...
Tanzania has confirmed that it blocked the exporting of US$29.5 million worth of diamonds by UK-based firm Petra Diamonds after it accused the miner of under-reporting its mineral exports. The diamonds were seized by government officials at the main airport in Tanzania’s commercial capital Dar es...
Gem Diamonds (LSE:GEMD) has announced another enormous find at its flagship Letšeng mine in Lesotho, a 126-carat rock, making July the fourth consecutive month it has unearthed a rock of high significance. The Southern Africa-based mining company said the rock was a high quality 126-carat, D...
De Beers Group announced the launch of De Beers Ventures to focus on investing in start-ups and growth companies. The new subsidiary will engage in minority equity positions in areas including downstream distribution, consumer brands, marketing platforms, security, cutting and polishing and imaging technologies. Through the investments...