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

Endiama rules out additional investors for Luaxe kimberlite project

16 february 2017
Angolan state diamond company, Endiama said it is currently negotiating with its partner, Alrosa of Russia for the financing of the Luaxe kimberlite project and will not seek additional investors.
Endiama and the Russian diamond giant discovered Luaxe in 2015.
Macauhub quoted company’s chairperson Antonio Carlos Sumbula as saying that the diamond companies would raise the funds on their own.
Alrosa president Andrei Zharkov said last September that capital investments in Luaxe project during its mine life was estimated at $1 billion.
The project, which was expected to begin diamond production within three to four years, was projected to record an annual output of between 8 million carats and 10 million carats.
It was bigger than the Catoca, which currently produces about 80 percent of the country’s total diamond output.
Catoca, the fourth largest kimberlite in the world, was also partly-owned by Endiama and Alrosa.
Meanwhile, Sumbula said Endiama would slightly reduce production to improve revenue until Luaxe starts operating.
“When the company was producing 8 million carats revenue was $1.2 billion, but in 2016, with production of 9 million carats, revenue fell to $1.07 billion,” said Sumbula.
“Our intention is to work towards more revenue, based on a drop in production.”

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

Comments

Only registered users can add comments (Register, Login)