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Category: Mining

Aerial view of Burgundy Diamond Mines' Ekati mine

Weak Diamond Market Triggers $94.7M Loss for Burgundy 

Decrease is result of impairment on Ekati mine’s plant and equipment.
Mountain Province's Gahcho Kué mine image

Mountain Province Takes Loans to Keep Business Afloat 

Miner also updates joint-venture agreement with De Beers for Gahcho Kué deposit.
Rough emeralds image

Gemfields Sells Emeralds After Second Time on Auction Block 

Stones failed to find buyers in November due to direct competition with another producer.
Diamond sorting at Lacara Diamond Corp's Karowe mine image

Large-Stone Sales Send Lucara Revenue Surging 

Miner sold 549-carat Sethunya and 1,080-carat Eva Star diamonds for $54 million in 2024.
Aerial view of Lucapa Diamond Company's Lulo mine

Mining Resumes at Lulo After Blockade Ends 

Lucapa processed stockpiled gravel and tailings during closure so output for the period would not decline.
Diamonds from Rio Tinto's Diavik mine image

Rio Tinto Diamond Unit in the Red 

Revenue down 37% in 2024 amid weak global market.
Rough emeralds from Gemfields image

Can Zambia’s Tax Reversal on Emeralds Help Gemfields’ Money Woes? 

Country revokes 15% levy it reinstated only last month.
Image of a truck hauling ore at Petra Diamonds' Cullinan mine

Weak Rough Prices Dent Petra Revenue in First Half 

Sales down 45% at fourth tender, with like-for-like figure slipping 6%.
Workers at the Cullinan mine image

Mining Union Calls Petra Layoff of over 200 Employees ‘Barbaric’ 

Company is making cuts in response to losses from prolonged industry downturn.
Rough diamonds in the palm of a hand image

Anglo American ‘Likely’ to Write Down De Beers’ Value Again 

Parent company slashes diamond miner’s production plan by 10 million carats.

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