Zimbabwe Consolidated Diamond Company expects to produce 4.1 million carats in 2019

Rio Tinto’s spectacular Argyle Pink Diamonds Tender has been launched during a world exclusive preview at the Sydney Opera House, with this year’s iconic collection including some of the most vivid pink and red diamonds ever unearthed from the Argyle mine.

The miner, which does not yet generates any income, expects to kick-off production at its Lemphane and Mothae mines later this year.

The company, however, said it remained committed to the diamond industry.

Bear market is more than 1,000 days old and nearly 1,200 companies have dropped off the Toronto venture market.

Adverse weather conditions and the need to shift more earth than previously anticipated have also added $13 million to overall costs.

PwC's John Gravelle on the mining industry's austerity drive, price realities and declining exploration spending.

It saw its rough diamond prices decrease by 3% in February and a further 3% at its May trading session, but the mienr expects market conditions to improve by the end of the year.

The miner said smaller than expected diamonds at its Finsch and Cullinan mines in South Africa have sold at modest prices.

An annual list that reveals the names of mineral smelters that do not use raw materials linked with criminal gangs is at the heart of Europe’s push to clean up the world’s mining industry.