Stornoway Diamond Corp will spend $28.4 million to advance its Renard diamond project in northern Quebec, the Vancouver-based company (TSX:SWY) announced yesterday.
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De Beers on Wednesday launched rescue efforts for diggers who have been trapped after an illegally excavated tunnel collapsed in the diamond giant's abandoned Namaqualand mining area.
Osisko stock was down another 3.7% today despite the positive news and has now lost 25% of its value since the fire at the Quebec mine was first reported on May 9th.
Charles Taylor, was convicted in April of war crimes for arming Sierra Leone's rebels in return for blood diamonds. Taylor is now awaiting sentencing and the BBC tries to find out if mining in the country is now “clean”.
Despite gold's price slump, strong copper and iron ore prices lifted MINING.COM's ranking of the world's 50 most valuable miners to a new record high of $1.35 trillion.