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It's our responsibility to capture the imagination of future generations towards diamonds

As CEO of Beverly Hills-based Grand Metropolitan - a privately-held luxury goods holding company with a 130-brand portfolio - Vin Lee carries the burden rather lightly on his shoulders. Having migrated from Canada as a baby, it did not take long for...

Today

‘Non-diamond producing countries shouldn’t lead KP’

Non-diamond producing countries should not lead the Kimberley Process (KP) as was the case last year with the United Arab Emirates (UAE), according to the African Diamond Council and African Diamond Producers Association chairperson...

04 december 2017

Jewellers’ Guild of Russia sees its mission in creating highly developed national jewellery market

In recent years, the Jewellers’ Guild of Russia has noticeably stepped up its activities. Eduard Utkin, General Manager of this Association told Rough & Polished about what is happening in the country’s jewellery sector, the tasks facing the community...

27 november 2017

Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 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

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