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

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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

Diamcor FY17 revenue tops $6 million as SA project progresses

11 august 2017
Diamcor Mining, which is currently developing its Krone-Endora at Venetia project in South Africa, said it sold 32 627.97 ct of rough diamonds in the financial year ended March 31 for $5.93-million or $136.89 per carat.
The company earned $4.47-million in revenue, a year earlier from the sale of 24 068.01 carats at an average price of $139.74/ct.
“The average price per carat was in line with company expectations, given that the material being processed as part of the ongoing development exercises was largely limited to lower-grade material in the 1 mm to 15 mm size fractions,” it said.
Diamcor said it was focused on the advancement of its diamond project during the period under review.
However, delays in the delivery and installation of certain portions of the expansion efforts strained the company's efforts to advance the project as desired.
“Current efforts at the project are now focused on increasing processing tonnages of material in all size fractions through these new facilities, and to achieve sustained run-times and increased tonnage levels over a period sufficient to allow the company to arrive at initial production decisions for the project as soon as practicable,” said Diamcor.
It said that its operating expenses leaped to $4.79-million during the period under review due to increased operating levels associated with the continued advancement of the project.

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


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