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Diamond Mining News

Canada Diamond Jackpot 

Once a hotbed of gold mining, Canada's far north is now unearthing riches from a different precious commodity - diamonds. ...

At the Diavik mine, just over 130 miles south of the Arctic Circle, a 650-foot deep crater pierces a frozen-white tundra, yielding some of the purest diamond deposits known.

How are diamonds formed

Comparing the properties of diamonds and graphite provides clues as to where diamonds originate. Graphite forms close to the surface of the earth. The fact that diamond’s crystalline structure is more compact than that of graphite implies that they form in deeper environments where pressure and temperature is higher. read more about  Diamonds & Graphite

DTC Indian diamond shortage: Industry seen adversely hit by DTC move 

150,000 Indian diamond workers will be jobless !

"The DTC has a finite supply, which is
significantly outstripped by the volume
of rough diamonds being requested by
applicants" - DTC indian diamond shortage
MD Varda Shine dec 07

Botswana diamonds to cut $360 mln in 2008 - trader

Jwaneng mine in Botswana is already 25 years old

Diamonds mining investors losing sparkle in Australia

Flinders Diamonds managing director Kevin Wills says diamond explorers are missing out on the resources boom.

diamonds mining investors australia.
photo: kevin wills

Oldest Diamond find could shed light on early Earth

Gems found in Western Australia are more than 4 billion years old
A transmission light image of Jack Hills zircons from Australia shows an angular diamond inclusion.

USA Wakes Up Late In Search for Sea Diamonds and Minerals.

USA Today reports that Russia has announced the sensational results of its Arctic expedition, which will enable it to acquire some highly mineral-rich territory.

Liberia: No More Moratorium On Diamond Mining

De Beers mining problems In Canada’s remote north, mining eng­ineers are about to begin production at Snap Lake, the latest in a string of diamond mines to spring to life in this barren wilderness. The global diamond industry has reached a crucial turning-point: Snap Lake will be the first mine outside Africa for De Beers, the South African company that for years held a controversial monopoly over world supplies.

Liberia: No More Moratorium On Diamond Mining

found at The Liberia Analyst (Monrovia) 30 July 2007       

The government of Liberia, through the Ministry of Lands, Mines and Energy, has moved to lift the moratorium on diamond mining in the country.

The announcement of the lifting of moratorium on Diamond was made in Buchanan, Grand Bassa County during celebrations marking the 160th Independence Anniversary by the Minister of Lands, Mines & Energy, Dr. Eugene Shannon.

According to him, the lifting of the moratorium has become imperative because the "final component of the Kimberly Process which are the Export Certificates itself has now arrived in Liberia."

As of Monday July 30th, he said, the Bureau of Mines at the Ministry of Lands, Mines and Energy will be opened to process diamond license claims and license applications for brokers and dealers.

He called on all wishing to participate in the diamond industry to "not just do it right, but make sure others do it right;" noting further that "all have a role to play in ensuring that our national resources become our national assets as proceeds of these assets can be shared for the benefit of all Liberians.

"Smuggling, illegal trading robs us all of its benefits. If you are working in the pit, ensure your claim is licensed; if you are a broker, ensure that the diamonds you buy are from license claims; if you are a dealer, ensure that you buy it from license brokers," he warned.

Minister Shannon indicated that since the UN Security Council announced the lifting of the sanctions on Liberian diamonds in late April, paving the way for one of Liberia's key resources to play part in kick-starting the country's badly bruised economy, his ministry has been working assiduously with the help of partners to put necessary procedures in place to recommence the extraction and exportation of the gem.

"As such Liberia is now an active member of the Kimberly Process Certification Scheme (KPCS) whose rules and regulations govern the international trade in rough diamonds.

"To comply with these requirements, our work has focused upon efforts to combat the smuggling of our diamond resource and to establish regional offices that form a basis of a chain of custody mechanism," he said.

Part of what they've done has been to train staff, equip the government diamond office, as well as secure the authority that would certify diamonds being exported within the regulations of the KPCS.

He reiterated that the diamond industry is no longer as it was because much has changed. "The laws of Liberia have changed to ensure compliance with international standards.

All persons operating diamond mines or acting as brokers or dealers in the diamond industry need to be licensed. There are stiffer penalties for offenders which form part of our new standards," Minster Shannon noted.

He emphasized that the staff from the government diamond office will continue to work closely with those taking up licenses by offering advice, explaining the new procedures and setting the standards.

The Lands, Mines & Energy Minister said as the ministry restarts the diamond business in the country, they are mindful that many will have their own questions; as such, the ministry will assist everyone to act within the law.

"The Ministry of Lands, Mines and Energy has established a telephone hotline direct to the diamond office. Calling this number will put you in direct contact with staff who can answer your questions regarding our diamond laws and the Kimberly Process.

The temporary number you can call is 06. 473.793," He disclosed. He said that mechanisms are in place to ensure that Liberians can participate in the diamond industry in a fair and open manner; but warned, "Let's not abuse this privilege.

"Let us show our international partners and the world at large that Liberia is open for business but let us not do business in the old way."

He noted that diamonds are traded on the world market. "By our actions and our deeds, we must demonstrate to the whole world that we are not just opened but serious for business," he concluded.

Rapaport to diamond industry: Just say no to credit memo. In an impassioned "State of the Diamond Industry" address, Rapaport Group Chairman Martin Rapaport said the jewelry industry cannot sell to people on credit anymore and also criticized members of the trade for not trading diamonds to keep prices from dropping.

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