Dominion Diamond Corporation announced that it has entered into a new position of Chief Financial Officer Metyu Kuinlan (Matthew Quinlan) from 10 September.
Dominion previously published sales results for the second quarter of fiscal year 2017 (from May to July 2016) of rough diamonds from the Ekati mine (the Ekati) and Diavik (Diavik), as well as the Ekati production results for the same period.
The results of three trading rough diamonds for the quarter were $ 160.0 million compared to $ 209.7 million in the second quarter of 2016 fiscal year. In the third quarter it is planned to hold two diamond tender.
According to the report Dominion, Ekati to mine in the second quarter of 2017 fiscal year were produced 0.9 million carats of 0.6 million tonnes of ore processed. During the same period of fiscal year 2016 production was 0.9 million carats to 1.0 million tonnes of ore processed.
Commenting on the situation in the diamond market, the company said that after the favorable conditions prevailing in the first quarter, diamond prices have stabilized in the second quarter supported by solid retail demand in the United States. Positive conditions in the first half of the year reduced inventories throughout the diamond pipeline and improved the liquidity situation in the industry. However, despite the improvement in the relations of banks to the industry, they continue to be cautious.
Retail markets outside the United States, noted in the Dominion, are under the influence of a strong US dollar, making jewelry is relatively expensive in local currencies. Despite the decline in demand from wealthy clients, growth in retail demand in China focused on the wider retail sector, which contributes to the expansion of the middle class.
Also in the East, demand from Japan remains high, supported by tourism from China, where people come to buy luxury items. Conversely, the demand for retail markets in Europe, Hong Kong and the Middle East remains somewhat muted, noted in the Dominion.
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Pangolin Diamonds reported the discovery of pyrope garnet from a surface source on the company's fully owned Malatswae project in Botswana.
The project is located 90 km southeast of the kimberlite field Orapa (Orapa).
Previous sampling fetuses on the project helped to identify a variety of minerals-indicators of kimberlites from a surface source.
The company's statement said that last week four samples were extracted, which contained 14 pyrope garnets.
"These new results are exceptional in that they have the same characteristics as pyrope garnets that can be found on weathered kimberlites, yet without any signs of transport from another site," said Leon Daniels, CEO of the company.
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