Login

Pavel Vinikhin: ALROSA will make a worthy contribution to the revival of the ‘Russian Cut’ Brand

ALROSA is known as the largest diamond mining company throughout the world. However, not everyone is aware that it has its own diamond-cutting division. For a long time, the activity of DIAMONDS ALROSA remained in the shadows, only occasionally attracting...

16 october 2017

William Lamb: Lucara now knows best routes to market large stones

Lucara Diamond recently announced that Graff Diamonds had bought its 1,109 carat diamond Lesedi La Rona for $53 million. The stone, which is the world’s second largest diamond found since the discovery of the 3,106-carat Cullinan diamond in 1905, failed...

09 october 2017

GSI was the first in the world to begin testing of smaller size diamonds in bulk and has never looked back since - Mark Gershburg

With more than 30 years of experience in the gem lab sector under his belt, Mark Gershburg is an industry veteran widely popular in the global gem and jewelry industry. He began his career in 1980 as a grader but his professionalism, creativity, and...

02 october 2017

Gaetano Cavalieri: Over the long term, demand for diamonds is likely to grow at a steady pace

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

25 september 2017

“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing...

18 september 2017

Lucapa acquires stake in Lesotho’s Mothae Diamonds

01 february 2017
Lucapa Diamond has acquired a 70-percent stake in Mothae Diamonds, which holds the mining lease and other assets related to the advanced Mothae kimberlite diamond project in Lesotho.
The kimberlite project had an indicated and inferred resource of 1 million carats and an inferred resource valuation of $1 billion.
“This acquisition is in keeping with Lucapa’s stated strategy of continued growth as a diamond producer and explorer,” said company chief executive Stephen Wetherall.
“Mothae compliments the producing high-value Lulo diamond mine and our highly prospective exploration assets in the advanced Lulo kimberlite project and the earlier stage Broking and Orapa Area F projects.”
Trial mining had identified that Mothae hosts large Type IIa diamonds, including individual stones up to 254 carats, as well as gem quality diamonds that have sold for up to $41,500 a carat.
Paragon Diamonds had initially finalised an agreement with Mothae’s previous majority owner, Lucara Diamond, to purchase its 75 percent stake in the project for $8.5-million, but failed to raise the funds.
Lucara, however, completed the transfer of its shares of Mothae and the Mothae site bulk sample plant last March to the Government of Lesotho, which saw it being released from all liabilities relating to the rehabilitation of the project.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

Comments

Only registered users can add comments (Register, Login)