Dynacor production up by 13% in Q2 YoY!

Dynacor Gold Mines reported its Q2-2018 gold production. For the second quarter of 2018, gold production amounted to 20,610 oz, slightly below management’s forecast of 22,150 oz due mainly to lower grade material provided to the plant. However, this total production represents an increase of 13.3 % over the same period of last year of 18,188 oz and an increase of 17.6 % compared to 2016 of 17,524 oz of gold.

The Veta Dorada plant processed 7,909 dry metric tonnes (DMT) of material in June and a cumulative 23,172 DMT in the second quarter of 2018 compared to 6,012 DMT and a cumulative 16,311 DMT in the same periods last year, representing an increase of 31.6% and 42.0% respectively.

The Moss Mine production increased in June!

Northern Vertex Mining announces gold and silver production results for the month of June at Moss Mine, located in NW Arizona. Kenneth Berry, President and CEO, stated: “The efforts of our operational team have once again accomplished another solid month of achieving increased production and recoveries that continue to meet or exceed the design specifications of the mine as we approach the milestone of commercial production.”

According to the report highlights, 1: June production of 1,374 ounces of gold and 4,875 ounces of silver exceeds May’s production of 1,276 ounces of gold and 3,556 ounces of silver. The Company expects production to significantly improve over the next couple of months as ramp up to commercial production continues.

FTC announces Final Revisions to the Jewelry Guides

The Federal Trade Commission (FTC) has amended its Jewelry Guides to help prevent deception in jewelry marketing. In 2012, as part of its systematic review of its rules and guides, the Commission sought public comments on the Guides’ costs and benefits, and whether they should be repealed, amended, or retained in their current form. It also sought comments on specific issues concerning composite gemstones, pearls, diamonds, and precious metal alloys.

Using comments and information obtained during a June 2013 public roundtable, in January 2016, the agency proposed, and sought public comments on, revisions to the Guides regarding below-threshold alloys, precious metal content of products containing more than one precious metal, surface application of precious metals, lead-glass filled stones, “cultured” diamonds, treated pearls, varietals, and misuse of the word “gem.”

WFDB Responds to Revised FTC Guidelines

Insufficient diamond industry input: Ernie Blom

The World Federation of Diamond Bourses (WFDB) has responded to the revised U.S. Federal Trade Commission's (FTC) guidelines released this week as they relate to the issue of descriptors for diamonds. The new guidelines are not in line with the Diamond Terminology Guidelines as agreed last year and implemented by the WFDB, the International Diamond Council, the International Diamond Manufacturers Association and CIBJO, the World Jewellery Confederation, said WFDB President Ernie Blom.

However, he pointed out that the new guides do require that all lab-grown diamonds must be clearly and conspicuously disclosed. "We have a united stand regarding nomenclature which was agreed with all the combined knowledge and experience of the leading industry bodies, but the FTC appears to have moved in a different direction," Blom said.

LGD must be fully and clearly disclosed: IDMA

International Diamond Manufacturers Association (IDMA) said, for the first time in 22 years and after a six-year consultation and editing process, last week, the Federal Trade Commission (FTC) published its revised FTC Jewelry Guidelines. This is important for our international colleagues to understand, most USA industry organizations submitted their comments during this long review period.

The Jewelers Vigilance Committee (JVC), the Diamond Manufacturers & Importers Association of America (DMA); the Diamond Dealers Club of New York (DDC) and the Indian Diamond & Color Stone Association (IDCA) sent in their final comments together.

Gem Diamonds recovers 100.5 Ct diamond

Gem Diamonds Limited recovers  a 100.5 carat, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. This recovery is the eleventh diamond of over 100 carats in 2018.

Special diamond recoveries from Mothae

Lucapa Diamond Company reported the recovery of another Special (individual diamonds > 10.8 carats) from the ongoing bulk sampling program at the Mothae diamond mine in Lesotho. The 11.88 carat diamond was recently recovered from the North zone and is the first Special recovered from that section of the Mothae kimberlite pipe from current bulk sampling.

Significantly, the latest recovery at Mothae means all three zones sampled have produced Specials - an 89 carat was the largest special recovered from the South-East zone and a 25 carat was also recovered from the Neck zone during the May & June! The Mothae kimberlite pipe is a high-quality diamond resource located within 5km of Letšeng, the highest US$ per carat kimberlite diamond mine in the world.

WDC visits Angola as a part of industry’s effort

Recently World Diamond Council (WDC) executives traveled to Angola for a series of meetings with stakeholders involved in the Kimberley Process (KP). WDC Acting President Stephane Fischler and Executive Director Marie-Chantal Kaninda made the trip at the invitation of Angolan authorities, marking the first time there has been a WDC mission to Angola outside of a formal KP meeting.

The meetings are part of a larger effort by the diamond industry to raise awareness of the challenges and opportunities for African countries as part of their participation in the KP. The trip follows a meeting in Antwerp earlier this year between the WDC, the Antwerp World Diamond Center (AWDC) and the President of Angola. The WDC also recently completed a visit with KP stakeholders in the Democratic Republic of Congo.

GJEPC IGJ Awards today!

Most prestigious IGJ (India Gem & Jewellery) Awards, the 44^th edition to be held today in Mumbai.

By considering the performance of 2017 including exports, IGJ Awards 2017 to be announced.

According to the sources, Shri Suresh Prabhu, Minister of Commerce & Industry & Civil Aviation would be attended as the Chief Guest with Ms Poonam Mahajan, MP-BJP to remain a Key note speaker for the IGJ Awards.

Alrosa production grew 15% QoQ yet down 18% YoY

According to Alrosa, report for Q2 2018 production performance and preliminary trading update, diamond production grew 15% QoQ yet that remained down 18% YoY to 8.5 m carats, due to seasonal return to production at alluvial deposits supported by the recently ramped-up assets, the Udachny underground mine and Severalmaz.

A YoY decrease in diamond production was due to the closure of the Mir underground mine (UM), a lower diamond grade at deep horizons of the International UM as well as the share increase of processing of a lower grade ore at the Jubilee pipe and the Aikhal UM of the Aikhal Division.