Diamond Investing News

Dominion Diamond Enters Oversold Territory — Time to Buy?

Charlotte McLeod — Tue, 21 May 2013 16:33:03 +0000

Forbes reported that shares of Dominion Diamond Corp. (NYSE:DDC) have sunk as low as $14.79 and have entered oversold territory. Stocks are considered oversold if they have a Relative Strength Index reading below 30, and Dominion's is currently 29.4.

Petra Diamonds’ Tanzanian Mine Could Produce for 50 Years

Charlotte McLeod — Tue, 21 May 2013 16:25:14 +0000

AllAfrica reported that Tanzania's Williamson diamond mine, which is majority owned by Petra Diamonds Ltd. (LSE:PDL), has a potential mine life of over 50 years, although the current mine plan only accounts for 18 years.

Rio Tinto to Sell Argyle’s Largest Red Diamond in 2013 Tender

Charlotte McLeod — Fri, 17 May 2013 17:00:30 +0000

The Telegraph reported that at its annual Argyle Pink Diamonds Tender, Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) will put the 1.56-carat Argyle Phoenix, the largest red diamond ever produced by its Australia-based Argyle mine, up for sale.

BMO: Diamond Prices to Rise 6 Percent a Year to 2020

Charlotte McLeod — Fri, 17 May 2013 16:52:22 +0000

Bloomberg reported that the price of diamonds will rise 6 percent per year until 2020 as output fails to meet increased demand from China and India, according to BMO Capital Markets.

Harry Winston Pays Record $26.7 Million for Colorless Diamond

Charlotte McLeod — Thu, 16 May 2013 17:53:42 +0000

Forbes reported that Harry Winston Inc. paid over $26.7 million for a 101.73-carat, pear-shaped flawless diamond at Christie's Geneva-based Magnificent Jewels sale, a record price for a colorless diamond.

Alrosa Plans Share Sale for Q4 2013

Charlotte McLeod — Thu, 16 May 2013 17:48:12 +0000

Reuters reported that Russia's Alrosa (MCX:ALNU) is planning a share sale for October or November of this year that could place the value of the business at up to $15 billion and raise "hundreds of millions of roubles" for local and national government owners.

North Arrow Files NI 43-101 Report, Confirms Mineral Resource Estimate of 26.1 Million Carats

Charlotte McLeod — Wed, 15 May 2013 21:18:39 +0000

North Arrow Minerals Inc. (TSXV:NAR) announced that it has filed on SEDAR a NI 43-101 technical report that confirms that the mineral resource estimate for the Q1-4 kimberlite, located at the Nunavut-based Qilalugaq diamond project, is 26.1 million carats. The company has the option to earn an 80-percent interest in the project from Stornoway Diamond Corp. (TSX:SWY).

Largest Flawless Diamond Ever Auctioned Could Sell for 20 Million Pounds

Charlotte McLeod — Wed, 15 May 2013 17:32:33 +0000

The Independent reported that experts believe that the largest flawless diamond ever auctioned, which is pear shaped and clocks in at 101.73 carats, will sell for 20 million pounds at the Magnificent Jewels auction in Geneva. The auction will be held by Christie's.

Pangolin Discovers First Kimberlite, Will Drill Two More Holes

Charlotte McLeod — Wed, 15 May 2013 17:23:19 +0000

Pangolin Diamonds Corp. (TSXV:PAN) announced the discovery of its first kimberlite at its Botswana-based Tsabong North project. Based on the results, the company will drill two more holes.

Diamond Mining in Africa

Staff Writer — Mon, 13 May 2013 10:30:13 +0000

Africa, the world's largest producer of diamonds, has produced half of all diamonds.