Rapaport reported that in 2013, ALROSA's (MCX:ALNU) profit fell 5 percent from the previous year, hitting $885.3 million. The fall came as "foreign exchange losses mounted due to a weakening ruble."
Diamond Company News Directory
Pangolin Diamonds Corp. (TSXV:PAN) reported on a second diamond-positive area of soil sample results from its Botswana-based Mmadinare project, commenting that highlights include the discovery of an additional microdiamond and 281 ilmenite grains from 33 soil samples collected within Block 2 of the project.
Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) announced its production results for the first calendar quarter of 2014, commenting that during that period, its Diavik mine produced 1.9 million carats from 0.6 million tonnes of ore processed.
Stornoway Diamond Corporation (TSX:SWY) has commenced drilling for its 2014 program at the Renard Diamond Project in Québec. Objectives of the program include the conversion of 6.2 mCarats of inferred mineral resources to an indicated mineral resource, the addition of an inferred mineral resource previously seen as a "Target for Further Exploration," and exploration of Renard 2 to a depth of 1000m or more using deep, wild-cat drilling.
Reuters reported that according to Francisco Queiroz, Angola's geology and mines minister, the country plans to approve a new concession that will allow major miner De Beers to explore for diamonds.
Lucara Diamond Corp. (TSX:LUC) announced the results of its first Exceptional Stone Tender of the year, commenting that the tender of 20 lots (1,191 carats) sold for gross revenues of $50.47 million, or $42,347 per carat.
Stornoway Diamond Corporation (TSX:SWY) entered into a binding financing commitment agreement for C$944 Million with Orion Co-Investments I Limited, Ressources Québec, a wholly-owned subsidiary of Investissement Québec, and the Caisse de dépôt et placement du Québec, for the construction of the Renard Diamond Project.
Pangolin Diamonds Corp. (TSXV:PAN) reported on soil sample results from its wholly owned Mmadinare diamond project in Northeast Botswana.
Rapaport said yesterday that De Beers' third 2014 sight ended with an estimated value of $700 million following a rise of 3 to 4 percent in the company's rough diamond prices.