GEMOLOGY
Angola diamonds not under sanctions but Russia link is obstacle
Bloomberg News | October 4, 2024 |
Rough diamonds on a grader’s table. (Image courtesy of Alrosa.)
Angola’s state-owned diamond producer said some clients were deterred by its partnership with Russia’s Alrosa PJSC, but underlined that its output doesn’t fall under western sanctions.
Russian diamond giant Alrosa holds a 41% stake in Angola’s Catoca operation, which also owns just over half of the Luele mine. The southern African nation’s Endiama Mining SA owns a majority of both the mines and has made management changes to shore up its control, according to chief executive officer José Ganga Júnior.
“The diamonds we have in Angola are ours,” Ganga Júnior said in an interview in the country’s capital Luanda.
However, Angola “occasionally encounters difficulties” with clients in certain markets because of Alrosa’s stake in the mines, the CEO said. Ganga Júnior declined to say whether Angola was under pressure to oust Alrosa from Catoca. “Alrosa has no interference in Angola’s operations,” he said.
Group of Seven nations agreed to ban Russian diamond imports from the start of this year to curb the Kremlin’s ability to fund its invasion of Ukraine. The ban initially covered all imports of rough diamonds directly from Russia, but was extended from March to include stones processed in third countries. Alrosa is also sanctioned by the US and European Union.
To comply with G-7 sanctions, Endiama must set up a system to track and identify the diamonds that originate in its mines, Ganga Júnior said.
A diamond’s origin is clear at the start of the supply chain when it is issued a certificate under the Kimberley Process, which was designed to end the sale of so-called blood diamonds that financed wars. But after that, the stones can become difficult to track.
Alrosa helped establish both the Catoca and Luele mines, and still receives revenue from both operations. However, those funds are held in Angola and can’t currently be repatriated to Russia.
Russia said earlier this year that Alrosa may sell its Angolan interests as its partners believe the investment is preventing Catoca’s development, according to Interfax.
In May, Angola’s Minerals and Petroleum Minister Diamantino Azevedo said the country’s long-time partnership with Alrosa had become “toxic.”
Russia’s state-controlled Alrosa vies with Anglo American Plc’s De Beers as the world’s biggest diamond producer.
(By Candido Mendes)
Bloomberg News | October 4, 2024 |
Rough diamonds on a grader’s table. (Image courtesy of Alrosa.)
Angola’s state-owned diamond producer said some clients were deterred by its partnership with Russia’s Alrosa PJSC, but underlined that its output doesn’t fall under western sanctions.
Russian diamond giant Alrosa holds a 41% stake in Angola’s Catoca operation, which also owns just over half of the Luele mine. The southern African nation’s Endiama Mining SA owns a majority of both the mines and has made management changes to shore up its control, according to chief executive officer José Ganga Júnior.
“The diamonds we have in Angola are ours,” Ganga Júnior said in an interview in the country’s capital Luanda.
However, Angola “occasionally encounters difficulties” with clients in certain markets because of Alrosa’s stake in the mines, the CEO said. Ganga Júnior declined to say whether Angola was under pressure to oust Alrosa from Catoca. “Alrosa has no interference in Angola’s operations,” he said.
Group of Seven nations agreed to ban Russian diamond imports from the start of this year to curb the Kremlin’s ability to fund its invasion of Ukraine. The ban initially covered all imports of rough diamonds directly from Russia, but was extended from March to include stones processed in third countries. Alrosa is also sanctioned by the US and European Union.
To comply with G-7 sanctions, Endiama must set up a system to track and identify the diamonds that originate in its mines, Ganga Júnior said.
A diamond’s origin is clear at the start of the supply chain when it is issued a certificate under the Kimberley Process, which was designed to end the sale of so-called blood diamonds that financed wars. But after that, the stones can become difficult to track.
Alrosa helped establish both the Catoca and Luele mines, and still receives revenue from both operations. However, those funds are held in Angola and can’t currently be repatriated to Russia.
Russia said earlier this year that Alrosa may sell its Angolan interests as its partners believe the investment is preventing Catoca’s development, according to Interfax.
In May, Angola’s Minerals and Petroleum Minister Diamantino Azevedo said the country’s long-time partnership with Alrosa had become “toxic.”
Russia’s state-controlled Alrosa vies with Anglo American Plc’s De Beers as the world’s biggest diamond producer.
(By Candido Mendes)
The mine has transitioned its A21 underground mine into commercial production upon completion of Phase 1.
October 4, 2024
Rio Tinto is preparing for the eventual closure of the Diavik mine.
Credit: EgolenaHK/Shutterstock.
Rio Tinto has announced the commencement of commercial production at Phase 1 of the A21 underground mine, part of Diavik Diamond Mine operations in the Northwest Territories of Canada.
The company has invested an additional $17m (£12.91m) into Phase 2 of the A21 underground project earlier this year, ensuring the mine’s productivity through to its planned closure.
The construction phase of the A21 underground mine involved the excavation of more than 1,800m of tunnels to access the diamond-bearing ore.
As Rio Tinto prepares for the eventual closure of the Diavik mine, it continues to invest in reclamation activities.
These efforts include earthworks, site clean-up and equipment procurement, demonstrating the company’s dedication to responsible mining practices and environmental stewardship.
See Also:US and India sign MOU to strengthen critical minerals supply chains
Northstar and Novamera to ‘surgically mine’ Cam Copper site in Ontario
Diavik Diamond Mine chief operating officer Matt Breen said: “The A21 underground operation is positive news for our employees, partners, suppliers and local communities in the Northwest Territories, as it will enable operations to continue through to closure.
“Rio Tinto’s decision to proceed with Phase 2 is a testament to the excellent performance of our Diavik team in successfully developing the underground mine beneath the previously mined A21 open pit.”
Last year, Rio Tinto announced plans to move forward with a $40m expansion at the Diavik mine, transitioning the existing A21 open pit into an underground operation, which will extend the mine’s life until at least early 2026.
Phase one below A21 is expected to produce an additional 1.4 million carats while the second phase would produce a further 800,000 carats of rough diamonds.
The Diavik mine has produced more than 144 million carats of rough diamonds since mining began in 2003.
Rio Tinto has announced the commencement of commercial production at Phase 1 of the A21 underground mine, part of Diavik Diamond Mine operations in the Northwest Territories of Canada.
The company has invested an additional $17m (£12.91m) into Phase 2 of the A21 underground project earlier this year, ensuring the mine’s productivity through to its planned closure.
The construction phase of the A21 underground mine involved the excavation of more than 1,800m of tunnels to access the diamond-bearing ore.
As Rio Tinto prepares for the eventual closure of the Diavik mine, it continues to invest in reclamation activities.
These efforts include earthworks, site clean-up and equipment procurement, demonstrating the company’s dedication to responsible mining practices and environmental stewardship.
See Also:US and India sign MOU to strengthen critical minerals supply chains
Northstar and Novamera to ‘surgically mine’ Cam Copper site in Ontario
Diavik Diamond Mine chief operating officer Matt Breen said: “The A21 underground operation is positive news for our employees, partners, suppliers and local communities in the Northwest Territories, as it will enable operations to continue through to closure.
“Rio Tinto’s decision to proceed with Phase 2 is a testament to the excellent performance of our Diavik team in successfully developing the underground mine beneath the previously mined A21 open pit.”
Last year, Rio Tinto announced plans to move forward with a $40m expansion at the Diavik mine, transitioning the existing A21 open pit into an underground operation, which will extend the mine’s life until at least early 2026.
Phase one below A21 is expected to produce an additional 1.4 million carats while the second phase would produce a further 800,000 carats of rough diamonds.
The Diavik mine has produced more than 144 million carats of rough diamonds since mining began in 2003.
Rio Tinto Launches 'Colour Awakened' Collection Featuring Historic Argyle Diamonds
Rio Tinto has unveiled its 2024 Beyond Rare tender, an extraordinary offering titled 'Colour Awakened'. This marks the second instalment in Rio Tinto’s prestigious Art Series, showcasing 48 lots of rare diamonds from its historic Argyle diamond mine and Diavik diamond mine
diamond world news service
03 Oct 2024
The collection is headlined by seven “Old Masters,” a set of historic pink and red diamonds unearthed from the Argyle mine in Western Australia, which operated from 1983 to 2020. These diamonds, ranging in size from 0.60 to 2.63 carats, have been carefully retrieved from private vaults, with some discovered as far back as 1987. Each diamond has been meticulously selected for its historical significance and exceptional beauty.
“No other mining company in the world has custody of such a kaleidoscope of coloured diamonds,” said Sinead Kaufman, chief executive of Rio Tinto Minerals, in a statement celebrating the launch.
Alongside the Old Masters, the Art Series 02 includes legacy pink, red, and violet diamonds from the Argyle mine, as well as white and yellow diamonds from Rio Tinto’s Diavik diamond mine in Canada. In total, the collection comprises 76 diamonds weighing 39.44 carats, including one Fancy Red diamond, a Fancy Purplish Red diamond, and a unique set featuring a 2.47-carat Fancy Intense Yellow diamond and a 4.04-carat D colour diamond from Diavik.
“Four years on from the closure of the Argyle mine, our Beyond Rare Tender platform is a testimony to the enduring prestige of the Argyle Pink Diamonds brand, the quality of production from our Diavik mine, and the ongoing demand for highly collectable natural diamonds,” added Kaufman.
The 48 lots will be showcased in key global cities, including London, Australia, Singapore, and Belgium, with bids closing on November 18.
This tender represents a rare opportunity for collectors and investors to acquire some of the most coveted natural diamonds ever produced, cementing the legacy of Rio Tinto’s historic mines.
Rio Tinto has unveiled its 2024 Beyond Rare tender, an extraordinary offering titled 'Colour Awakened'. This marks the second instalment in Rio Tinto’s prestigious Art Series, showcasing 48 lots of rare diamonds from its historic Argyle diamond mine and Diavik diamond mine
diamond world news service
03 Oct 2024
The collection is headlined by seven “Old Masters,” a set of historic pink and red diamonds unearthed from the Argyle mine in Western Australia, which operated from 1983 to 2020. These diamonds, ranging in size from 0.60 to 2.63 carats, have been carefully retrieved from private vaults, with some discovered as far back as 1987. Each diamond has been meticulously selected for its historical significance and exceptional beauty.
“No other mining company in the world has custody of such a kaleidoscope of coloured diamonds,” said Sinead Kaufman, chief executive of Rio Tinto Minerals, in a statement celebrating the launch.
Alongside the Old Masters, the Art Series 02 includes legacy pink, red, and violet diamonds from the Argyle mine, as well as white and yellow diamonds from Rio Tinto’s Diavik diamond mine in Canada. In total, the collection comprises 76 diamonds weighing 39.44 carats, including one Fancy Red diamond, a Fancy Purplish Red diamond, and a unique set featuring a 2.47-carat Fancy Intense Yellow diamond and a 4.04-carat D colour diamond from Diavik.
“Four years on from the closure of the Argyle mine, our Beyond Rare Tender platform is a testimony to the enduring prestige of the Argyle Pink Diamonds brand, the quality of production from our Diavik mine, and the ongoing demand for highly collectable natural diamonds,” added Kaufman.
The 48 lots will be showcased in key global cities, including London, Australia, Singapore, and Belgium, with bids closing on November 18.
This tender represents a rare opportunity for collectors and investors to acquire some of the most coveted natural diamonds ever produced, cementing the legacy of Rio Tinto’s historic mines.
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