De Beers Group
De Beers Group
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De Beers is shelving immediate plans to study expansion of its remote N Ontario, Canada, diamond mine after failing to get support from a neighboring aboriginal community, a "disappointing" setback for the world's top diamond producer, the mine's manager James Kirby has told Reuters.
The isolated Victor mine in the James Bay lowlands produces some 600cts pa and is scheduled to cease production in late 2018 and close in early 2019. The nearby Tango deposit could have added 5-6 years.
On-going disputes with the local community has seen DeBeers shelve expansion plans for its remote Victor Diamond Mine in Canada
Anglo American's diamond giant De Beers has confirmed plans to begin flooding the underground workings of its mothballed Snap Lake mine in early Jan. The mine, located beneath a lake in a remote Arctic area 220km NE of Yellowknife, has been under care and maintenance since Dec 2015 after attempts to find a buyer failed.
De Beers says the flooding will preserve the orebody in the event it finds future technical solutions to the operational and economic challenges that have made the mine unprofitable since its 2008 opening.
An environmental group has filed a lawsuit against De Beers Canada, accusing the diamond producer of failing to report toxic levels of mercury and methylmercury at its Victor diamond mine in N Ontario, Canada, Reuters reports.
The Wildlands League alleges De Beers, 85% owned by Anglo American, failed to report mercury levels from 5 of 9 surface water monitoring stations for the creeks next to its open pit mine between 2009 and 2016.
The Majwe Mining JV of Thiess, Basil Read Mining and Mothakga Burrow has secured a two-year extension of its mining operations at Debswana Diamond Co’s Jwaneng mine in Botswana. The contract extension, worth $A370M, continues the JV's association with the world's richest diamond mine by value that goes back to 2011.
De Beers' new Gahcho Kué diamond mine in Canada's remote Northwest Territories, is on track to reach full commercial operation in the March 2017 quarter. The world’s largest new diamond mine in 13 years is a JV between Anglo American's De Beers Group (51%) and Mountain Province Diamonds (49%).
Gahcho Kué is projected to produce a total of 54Mct of diamonds at an average of 4.5Mctpa from three openpit mines.
Anglo American unit De Beers has begun the on-time, on-budget commissioning the Gahcho Kué diamond mine 280km NE of Yellowknife in Canada's Northwest Territories, ramping up to commercial production in Q1 2017 and targeting 4.5Mctpa over 13 years.
CEO Bruce Cleaver says the project, a 51-49% JV with Mountain Province Diamonds, is an exceptional resource in terms of volume, value and economic potential for its community.
Botswana's newly formed Minerals Development Co has announced the acquisition of De Beers' 50% interest in the 3.2Mtpa Morupule coal mine, Reuters reports. The price was not disclosed.
The sale fits parent Anglo American's strategy of reducing its commodities portfolio. De Beers held its 50% interest in JV with the Botswana govt.
De Beers has named Bruce Cleaver as CEO following the decision of Philippe Mellier decision to step down as chief executive of the Anglo American unit after five years. Cleaver was De Beers executive director responsible for strategy and commercial relationships until 2015, when he took a similar role with Anglo American.
The parent company's Base Metals CEO, Duncan Wanblad, will add the strategy portfolio following Cleaver's promotion.
De Beers and Namibia have signed the new 10-year rough diamond sales agreement for sorting, valuing and sales of diamonds from their 50-50 Namdeb Holdings JV. It's the longest contract in their 21-year relationship and CEO Philippe Mellier says it secures long-term supply for De Beers while ensuring Namibia’s socio-economic development.
It will see $US430M pa of rough diamonds - including all large or unusual stones - sold through the jointly owned Namibia Diamond Trading Co and 15% of ROM production go to a govt-owned independent trader.