The recently ended annual Botswana Resource Sector Conference, which was convened in the capital, Gaborone, saw several speakers making presentations on diamond mining and other mining sectors. Among the speakers was James Allan, the director of a corporate finance firm, Allan Hochreiter. In his presentation, Allan estimated that diamond prices will return to 2008 levels by end of 2010 owing to the global economic recovery and strong demand from emerging markets such as China and India. He also said that the two Asian countries will be major players in the diamond market in the next two decades. Rough & Polished’s Mathew Nyaungwa caught up with Allan on the sidelines of the conference to find out more on his presentation. Below are the excerpts.
Alexander Boguslavsky, General Manager of the Prioksky Nonferrous Metals Plant, which celebrated its 20th anniversary from the date of its first output, gave the following interview to Rough&Polished.
Nizhne-Lenskoye, a public company established in 1994, is engaged in mining natural diamonds in Eastern Siberia (Yakutia). It is the first diamond-mining enterprise in Yakutia which is independent of ALROSA Group. The company’s only shareholder is the Republic of Sakha (Yakutia) represented by its Ministry for Property Relations. Nizhne-Lenskoye produces about $100 million worth of diamonds a year. Vladimir Kychkin, CEO of Nizhne-Lenskoye, answers the questions of Rough&Polished.During the first half of 2010 Xinjiang Uyghur autonomous region of China increased gold production by 6% to 3.7 tonnes of gold, according to information provided by Xinjiang committee on economy and informatization. Forecasts say that gold output in the region will attain 10 tonnes by the end of 2010.
Following the results of the first half of 2010, 36.65% of the 2010 production target was fulfilled, the value of gold produced amounts to 9.678M yuans ($1.43M), which represents an increase by 40.13%. The excess of growth of gold production by value compared to growth by volume is attributed to gold price upsurge trends.
Pace of gold production in Tǎchéng region and in the Altay district increased by an average of 35%. The major gold mining enterprises of the region pursue positive trend of production growth.
Xinjiang Uyghur autonomous region of China is considered to be one of the most important regions of gold mining industry where a total of 28 gold mines are located and aggregate reserves are estimated at 207.48 tonnes of gold. Since 2008 series of mergers and acquisitions of Xinjiang mines by China’s major gold mining groups have taken place.
Olga Patseva, Rough&Polished, Shanghai
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