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Lucapa to become a niche diamond company, says Wetherall

Lucapa Diamond believes that it will become the only company in the world with multiple diamond mining operations whose average diamond value is in excess of $1,000 per carat, once the Mothae mine is commissioned this year. Company chief executive and...

19 february 2018

Zimnisky: Diamonds lack fungibility to be a major investment product

Physical diamonds will never be a viable widespread investment product simply because they inherently lack fungibility, meaning they are all unique, according to Paul Zimnisky, an independent diamond industry analyst and consultant, who is based in New...

12 february 2018

Julien-Vincent Brunie: "Being surrounded by beauty and art is a privilege!"

This last December, shortly before Christmas, the Auction House of Christie's arranged a private display of jewelry in Moscow. The correspondent of Rough & Polished, who had an opportunity to visit this event, was able to admire a luxurious collection...

05 february 2018

Ali Pastorini: We would like meeting Mujeres Brillantes 2018 to be held in Russia

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 500 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

29 january 2018

Diamond Exchanges promote healthy development of the diamond industry, besides safe and basic infrastructures for diamond trade

Prior to joining the Guangzhou Diamond Exchange, Liang Weizhang served as a civil servant of Guangdong Entry-Exit Inspection & Quarantine Bureau as the director of the Kimberley Process Office. He participated in the KP Review missions to South Africa...

22 january 2018

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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