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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

Yesterday

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

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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