EU agrees law to curb flow of conflict minerals – much ado about nothing

According to REUTERS (WORLD NEWS | Tue Nov 22, 2016 | 1:47pm EST), The European Union agreed a deal on Tuesday to stem the flow of gold and other metals used to fund armed conflicts or produced in conditions that breach human rights.

EU importers of tin, tungsten, tantalum, gold and their ores will from 2021 have to carry out checks on their suppliers in legislation that will also apply to smelters and refiners.

Human rights campaigners said the agreement was a half-hearted first step, with imports of finished products that may contain the minerals not included and an end result that exempted a large number of companies.

To read it in full:

Much ado about nothing, one of my favourite Shakespeare plays.

First diamonds from the new Renard kimberlite mine

Stornoway Diamond Corporation (TSX-SWY) just released information about the first sale of the Renard kimberlite mine – press release.

In total, 38,913 carats were sold at an average price of US$195 per carat, for proceeds of US$7.6 million (C$10.2 million).

Matt Manson, President and CEO of Stornoway, commented “The diamonds sold in this first sale represent a portion of our production recovered during the initial commissioning and ramp-up of the Renard project during August and September. We saw strong interest in our product assortment, with 153 diamantaires attending the tender. Pricing met or was close to our expectations on most items. Recent events in India surrounding demonetization has impacted pricing and demand for certain smaller and lower quality items and, as a result, a quantity of these were withdrawn from the sale. These will be sold at a later date. Because of this, and because of a higher than expected proportion of small diamonds recovered during the ramp-up period, the result of this first sale cannot be taken as representative of the longer term pricing profile of the project. This was the first introduction of Québec diamonds to the market and a price discovery exercise. We look forward to growing our sales profile over the next few months. The project’s production ramp-up continues to exceed our expectations, and three tender sales have been scheduled for the first quarter of 2017.”


Oil and metals: Goliath and David

Another excellent infographic published by Visual Capitalist (a few weeks ago).
They left diamonds out of the picture, a pity. They included graphite, diamond’s darker and duller brother, though; curiously enough, both markets are very similar in value (diamond production marginally smaller, at close to $14B).
Courtesy of: Visual Capitalist

Minas e Geologia – Norte de Portugal (roteiro)

Acabei de descarregar e ler (ainda só em diagonal, confesso) uma roteiro sobre Minas e Geologia – Norte de Portugal no website do Turismo do Porte e Norte de Portugal.

O roteiro apresenta diversas sugestões de visita na região norte de Portugal, do Geopark Arouca às Minas de Castromil, passando pelo Parque Arqueológico do Vale do Terva – PAVT, pelo Museu Mineiro de S. Pedro da Cova – Casa da Malta, pelo Geopark Terras de Cavaleiros, Museu da Pedra de Marco de Canaveses, Museu dos Jazigos Minerais Portugueses em Matosinhos, ao Passeio Geológico da Foz do Douro, aos Museus da Faculdade de Engenharia da Universidade do Porto – FEUP e do Instituto Superior de Engenharia do Porto – ISEP, ao Museu do Ferro e da Região de Moncorvo, ao Parque Paleozóico e ao Museu da Lousa em Valongo, Complexo Mineiro Romano de Tresminas em Vila Pouca de Aguiar e (finalmente…) ao Museu de Geologia Fernando Real, Universidade de Trás-os-Montes e Alto Douro (UTAD)

Eu preferia que as minas estivessem activas, estas ou outras, a produzir riqueza e a criar trabalho para o País e a região; ao menos, temos um roteiro para passear e aprender em locais com importância geológica e mineira. Parabéns a quem teve a ideia e a concretizou.

Carpe diem

US $8.3 million, 1 863 ct diamond record sale by LUCAPA DIAMOND COMPANY

The latest sale of Lulo project (Angola) production by Lucapa Diamond Company (ASX:LOM) reached a new record: 1 863 ct were sold for US $8.3 million (at a US$ 4 452 per carat average price) – ASX Announcement of 07 November.

That announcement follows an earlier dated 27 October describing the continued recovery of large diamonds in the company’s alluvial mining operation in the Lulo Project (Angola), including five white type II-A – 172, 104, 77, 72 and 71 ct – and one 39 ct fancy pink (the largest to date at Lulo).

You may obtain the full ASX announcements on LUCAPA DIAMOND COMPANY (ASX:LOM) here: