Diamond
Bloomberg reported that Rio Tinto Group plans to sell individual mines of its $2.2B diamond business as a means to lift shareholder value.
Diamond Fields International Ltd (TSX:DFI) announced that common shares will be delisted at the TSX Venture Exchange effective May 10, 2013.
Mining Weekly reported that Dominion Diamond’s Ekati mine has enough diamonds to sustain mining up to 2019, based on its reserves and resources statement.
Mining Weekly reported that Anglo American’s De Beers said production at the Venetia Diamond mine in South Africa will return to normal in the second half of this year. The $2.27B mine’s production has been affected by heavy rainfall.
Mining Weekly reported that Dominion Diamond says production at its Diavik mine rose by a fifth, producing 1.9-million carats in the first 3 months alone.
Bloomberg reported that a 34.65-carat pink diamond was sold for $39.3million today at the Christie’s Magnificent Jewels auction.
Mining Weekly reported that Botswana Diamonds, as part of its option agreement with Morminas, will evaluate a third license block on the Save River situated in Mozambique.
Dominion Diamond Corporation (TSX:DDC, NYSE:DDC) announced that the company has completed its acquisition of the interest of BHP Billiton Canada in the Ekati Diamond Mine along with the diamond sorting and sales facilities in Canada and Belgium. The company has paid a total amount of US$553 million.
Olivut Resources Ltd (TSXV:OLV), a diamond exploration company, announced that it has closed its private placement of a $300,000 callable and convertible security in order to raise as much as $18 million in the next 3 years.
Reuters reported that Dominion CEO Robert Gannicott said the company has the means to buy the majority stake of Rio Tinto in the Diavik diamond mine if the price is right.
