De Beers Destroying Transparency

Rapaport Claims De Beers Does Not Allow

Clients to Disclose the Source of Their Diamonds

The Rapaport Group has issued a statement saying that De Beers is destroying transparency in the diamond industry by not allowing its clients to disclose the source of their diamonds. The full text of the statement is available here.

The statement claims that “all De Beers’ rough diamonds are now opaque. That’s 42% of the world’s legitimate diamond production in 2017, and $14.993 billion of rough diamonds from 2015 through 2017.”

Klondike to carry $2.5mn exploration program

Klondike Gold is accelerating district scale exploration designed to outline new target areas by concurrently completing full geophysical surveying, structural and lithologic mapping, and soil geochemical coverage of the Klondike District property during this 2018 season. 

This comprehensive multi-disciplinary surveying, the first ever undertaken across the Klondike District, is already yielding new insights that can provide faster and more efficient exploration of known targets, and in addition can screen for new target areas in the majority of the district which has not been explored.

Dynacor Sets the course to the future

Dynacor Gold Mines publishes a summary of its strategic plan to update its shareholders and the market on the steps management is taking to transform the company by 2021 into the leading processor of gold mineralized material produced by artisanal mining, worldwide.

Dynacor’s new corporate mission statement in the strategic plan states “To be an eco-responsible ore processor by establishing and maintaining a true partnership with artisanal gold miners as well as with the local communities wherever we operate around the world”.

Embrace the opportunities of KP Reform

WDC demonstrates commitment to ongoing

Positive change at 2018 KP Intersessional Meeting

The World Diamond Council (WDC), an industry group focused on preventing conflict diamonds from entering the legitimate global supply chain and protecting the value of natural diamonds, reaffirmed its commitment to driving ongoing positive change through reform at the 2018 KP Intersessional meeting held in Antwerp, Belgium June 18-22.

The Intersessional is an annual forum where members gather to discuss the technical aspects of the various working groups that comprise the Kimberley Process. Individual members of the WDC currently serve on a range of KP working groups that include Monitoring, CAR Monitoring Team, Statistics, Rules and Procedures, Participation and Chairmanship, Alluvial and Artisanal Production and Diamond Experts.

CAR struggles for diamond exports Lift up a ban & allow CAR diamond export!

At the juncture of 2018 KP Intersessional Meeting is going on & CAR struggles for diamond exports! Under the leadership of this year’s chair, the European Union, the KP Intersessional should manage to resume CAR’s diamond export. To halt any country’s economy could not be a solution but this can be an encouragement for smugglers to find its’ way, said Nayan Jani, Editor-JNI, India to fraternity.

According to Reuters despite a partial lifting of a ban on its diamond exports, the Central African Republic (CAR) is struggling to restore sales and seeing only a fraction of the tax revenue it once did, its mining minister said in an interview. As a member of the 81-nation Kimberley Process which certifies ethical diamond exports, CAR was banned from exporting diamonds in 2013 after rebels seized power.

The DRC in regard to KP reform

Stephane Fischler, acting president of the World Diamond Council (WDC) and Marie-Chantal Kaninda, executive director of the WDC, travelled to the Democratic Republic of Congo (DRC) to meet with key stakeholders involved in the Kimberley Process (KP).

Fischler and Kaninda met with the chair of the Working Group on Artisanal and Alluvial Production (WGAAP), the Minister of Mines, the Center for Evaluation, Expertise and Certification (CEEC) chair, deputy chair and team, the Diamond Development Initiative (DDI), DRC civil society members and mining companies, cooperatives and exporters.

Leads to Formalization of Indian Economy

Historic tax reform, the Goods and Service Tax (GST), has resulted in formalization of economy and consequently information flow would eventually augment not only the Indirect Tax collections but also Direct Tax collections.

In the past, the Centre had little data on small manufacturers and consumption because the excise was imposed only at the manufacturing stage while the States had little data on the activities of local firms outside their borders. Under the GST, there will be now seamless flow of availability of common set of data to both the Centre and the States making Direct and Indirect Tax collections more effective.

HRD sign cooperation MoU with Russia

In the context of the KP Intersessional taking place this week, which has brought the diamond world to Antwerp, the Ministry of Finance of the Russian Federation, represented by the Deputy Minister of Finance of the Russian Federation Aleksey Vladimirovich Moiseev, signed a Memorandum of Understanding with HRD Antwerp for the establishment of an HRD Antwerp diamond grading lab in Moscow.

Marigold output to be 265K Oz in 2021

SSR Mining reported the updated life of mine plan for the Marigold mine in Nevada-US, evaluating a sustained mining rate from the additional haul trucks added in 2016 and 2018 as well as year-end 2017 Mineral Reserves, for over ten years of mining to 2028.

Paul Benson , President and CEO said, "This life of mine plan builds on our exploration success and Operational Excellence track record at Marigold. Annual gold production is forecast to exceed 265,000 ounces in 2021 and 2022, a more than 30% increase over 2017. The new reserve supports mining for over ten years and gold production for fifteen years, with significant resources and exploration potential existing beyond the currently defined reserves.

KP Intersessional to run until 22

The EU hosts Kimberley Process (KP) Intersessional meeting in Antwerp. The Kimberley Process Intercessional, a week-long event where the members of the KP, other stakeholders and observers gather to make up the balance of our industry's efforts to protect the diamond industry and trade from conflict diamonds and other unwanted influences.

In 2018, the European Union holds the Chairmanship of the Kimberley Process, a global partnership which brings together governments, industry and civil society with the aim to eliminate the trade in so-called conflict diamonds worldwide. This year, the European Union is chairing the KP and India is serving as the vice-chair.