5 of Australia’s Rarest and Most Valuable Diamonds

There are three famed diamond mines in Australia: Argyle, Ellendale and Merlin.

Combined, the mines have supplied millions of carats worth of gems to the global market, and individually they have produced some of the rarest, most exquisite stones ever recovered.

In previous years, Australia has ranked fourth in global diamond production with annual output of roughly 14.2 million carats. However, the country is unlikely to take a top spot in 2021.

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Australia ranks fourth in diamond production with annual output of roughly 14.2 million carats. Learn about five of the country’s most unique gems.

ASX-Listed Diamond Stocks

ASX-listed diamond stocks have faced headwinds recently. In 2020, COVID-19 disruptions brought broad declines across the sector as many buyers chose not to make luxury purchases.

Although assets like gold, uranium and bitcoin rebounded fairly quickly, the diamond industry wasn’t able to pick back up until well into the second quarter of 2020.

Then, when coronavirus-related trends began to improve later in the year, Australia’s diamond industry was impacted by the closure of the renowned Argyle mine in Kimberley.

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COVID-19 disruptions brought broad declines across the diamond-mining sector in 2020, but some companies are still making headway. Learn about six of them here.

3 ASX Mining Stocks to Watch

In February, Western Australia took the top spot on the Fraser Institute’s yearly survey of best jurisdictions for mining investment. South Australia took the number six spot.

The Canadian think tank uses several criteria to determine the most hospitable locales for mining investment. The annual list is often a precursor to increased mining activity in top-ranking regions.

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A recent release from Canaccord Genuity lists 14 Australian stock picks, three of which are mining companies well known in their respective sectors.

Australian Potash Secures First Offtake Agreement for Lake Wells

Australian Potash (ASX:APC) has signed an initial offtake agreement with Australian chemical company Redox for its proprietary product K-Brite, produced at the Lake Wells potash project.

The 10 year take-or-pay binding term sheet signed between the companies earmarks 200,000 tonnes of the K-Brite (a sulphate of potash product) annually, and also gives Redox exclusive distribution rights to the product in the Australia and New Zealand region.

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Located in Western Australia, the Lake Wells potash project has an estimated 30 year mine life and is expected to enter production in mid-2022.

Gold Investing

Raleigh Gold Mine to Close Following Seismic Event

Rand Mining (ASX:RND) slipped 4 percent early on Wednesday (February 5) after the news that it will put its Raleigh underground mine in Western Australia on care and maintenance in April.

The gold miner made the decision to suspend operations at the mine in Kalgoorlie as a result of a “significant seismic response” that came after the firing of stoping panels last month.

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The area was subsequently deemed unsafe and will need to be excluded from all activity due to the firing of stoping panels.

Agrimin Updates Potash Resource by 470 percent

Agriculture company Agrimin (ASX:AMN) has updated the mineral resource estimate for the Mackay potash project in Western Australia.

As quoted from the press release:
Mark Savich, CEO of Agrimin said: “We are delighted to announce a very significant upgrade to the Mineral Resource for the Mackay potash Project. This is the culmination of several years of data collection and extensive hydrogeological modelling, which we believe to represent an industry leading level of rigour in de-risking the project. Importantly, the outcomes exceed the parameters used in the 2018 pre-feasibility study.”

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Agriculture company Agrimin has updated the mineral resource estimate for the Mackay potash project in Western Australia. 

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