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...


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

Sergey Ivanov, President of ALROSA met with João Lourenço, President of the Republic of Angola

14 november 2017

Sergey Ivanov, President of ALROSA paid a working visit to the Republic of Angola on Monday. During the visit, Sergey Ivanov met with João Lourenço, President of Angola and discussed issues related to the development of bilateral cooperation in the mining and sale of rough diamonds.
The President of Angola stressed, in particular, the importance of higher transparency and effectiveness of the current system used to sell diamonds mined on Angola’s territory. According to Sergey Ivanov, ALROSA is ready to submit appropriate proposals to the Angolan side for consideration. "These proposals will take into account not only international experience, but also the specific features of the Angolan economy and legislation. We believe that their implementation will help to increase profitability and scale up the tax base and dividends in the Republic of Angola," Sergey Ivanov said after the meeting.
At another meeting, this time with José Manuel Ganga Júnior, the recently elected President of ENDIAMA E.P., the country’s national diamond mining company, the parties discussed the operation of CATOCA, their shared joint venture. The president of ALROSA confirmed that by the end of this year his company plans to close the deal for purchasing a 8.2% stake in the share capital of CATOCA from Brazil’s Odebrecht. At present, the shareholding of ALROSA in the authorized capital of this mining company is 32.8%. The transaction value is estimated at $ 70 million.
The parties discussed the issues related to the financing of another international venture, Luaxe, established in May this year, as well as the expansion of cooperation in exploration and study of the resource potential possessed by the diamond industry of Angola.
During the visit, the president of ALROSA also met with the heads of several ministries of the Republic of Angola, as well as with the head of the Administrative Council of Sodiam.
ALROSA is a co-founder of Sociedade Mineira de Catoca and intends to take part in the development of the Luaxe concession (including the Luele diamond pipe) through this partnership. Starting from 2014, ALROSA and ENDIAMA have been carrying out geological exploration in Angola as part of a joint venture.


Only registered users can add comments (Register, Login)