Latest Diamond Market News

Burgundy Diamond Mines' subsidiary Arctic Canadian Diamond Company has secured a C$115 million senior secured loan from Canada's LETL facility to support operations amid US tariffs impacting diamond markets. The funding enables continued development and operational restructuring at the Ekati mine.

Burgundy Diamond Mines suspends Point Lake operations due to tariff-driven price pressures but extends mine life at Misery and highlights strong economics for Fox Underground.

Burgundy Diamond Mines has been approved as eligible for up to CAD 150 million in emergency funding to sustain operations at its Ekati mine amid a sharp downturn in diamond prices caused by US tariffs. Trading in its securities remains suspended pending funding confirmation.

Burgundy Diamond Mines posted a $29.5 million net loss for H1 2025, driven by operational disruptions and weaker diamond prices, leading to a temporary halt of mining at Point Lake. The company is navigating liquidity challenges with new financing arrangements while restructuring its operations.

Burgundy Diamond Mines pauses open pit mining at Point Lake due to weak diamond prices, focusing instead on higher-margin underground operations at Misery. The company also prepares to unveil a new mine plan and Fox project study.

Burgundy Diamond Mines reported a challenging Q1-2025 with lower ore mined and revenue, yet continues to progress development at Point Lake and Misery mines while strengthening its financial position.

Lucapa Diamond Company Limited reported a robust Q1 2025 with a 74% increase in diamond grade at Lulo and a 36% revenue rise, while advancing its stake in the Lulo JV to 51%. Exploration at Merlin in Australia revealed significant new targets, setting the stage for further growth.

Burgundy Diamond Mines has released its 2024 Mineral Resources and Ore Reserves update for the Ekati diamond mine, showing minor depletion consistent with active mining operations. The report underscores the mine’s continued operational strength and adherence to industry standards.

Burgundy Diamond Mines has secured a novel diesel fuel offtake agreement with Macquarie Bank, easing seasonal cash flow pressures and potentially setting a precedent for multi-year collaboration.

Burgundy Diamond Mines showcased its vertically integrated diamond business and Ekati mine acquisition at the Bell Potter Unearthed Natural Resources Conference, outlining a robust 2025 operational and financial outlook despite market headwinds.

Newfield Resources Limited reports a strategic pivot for its Tongo Diamond Mine, engaging a joint development partner to reduce costs and delay bulk sampling amid a depressed diamond market.

Newfield Resources clarifies its $10 million loan facility status, postpones key sampling work, and updates on ongoing dispute with Octea Limited, signaling cautious navigation through financial and operational challenges.