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26.01.2015
Mining Indaba MD says changes to be seen at this year’s event, focus on core mission
jonathan_moore_x.jpgInvesting in African Mining Indaba will take place in the resort town of Cape Town, in South Africa early next month. Jonathan Moore, the managing director of Mining Indaba told Rough & Polished’s Mathew Nyaungwa in an exclusive interview last Friday that the acquisition of the Indaba organiser last July by Euromoney was positive. He said as a result, there would be some noticeable changes at this year’s event as they seek to re-affirm the core value mission of the Mining Indaba, which was to unite investors, mining companies and African mining ministers to put foreign direct capital to work on the continent.

19.01.2015
World diamond market is driven by globalization - Marcel Zalc
marcel_zalc_x.jpgMarcel Zalc, a famous Belgian diamantaire having over 35 years in diamond trading under his belt, shared his vision of the state of and prospects for the global diamond market with the Rough&Polished correspondent in Brussels. It is noteworthy that Mr. Zalc was one of the diamantaires, who addressed a complaint to the European Commission in early 2000 regarding De Beers, which, in their opinion, occupied a dominant position in the diamond market in Antwerp and thus violated the EU legislation on free competition.

12.01.2015
Russia will develop the ‘Sestroretsk Diamond Pipe’
alexander_kolyadin_preview.jpgINREAL, established in the early 1990s, is now a pacemaker in the production of industrial diamond goods and diamond grinding powder, which enjoy brisk demand from a variety of industries, including those manufacturing high-tech products. INREAL gave birth to other two independent entities, which are Nevsky Brilliant and New Diamond Technologies. Nevsky Brilliant is manufacturing polished diamonds from natural rough diamonds of all sizes, while New Diamond Technologies is focused on synthesizing high-quality single diamond crystals. The combination of all the three companies resulted in a holding engaged in waste-free diamond production. Rough&Polished asked Alexander Kolyadin, CEO of INREAL to tell our readers about what is being done by this holding in the field of diamond synthesis.





Lesotho’s proposed ownership law to affect diamond firms

02.08.2012

Lesotho is set to introduce a new law that will limit foreign mining firms’ ownership in local mines to 49 percent, while the remaining 51 percent will be reserved for natives (government included).
Diamond companies to be affected by this proposed law included Gem Diamonds, which owns 70 percent of the Letseng mine, and Namakwa Diamonds, which owns the majority of the Kao mine.
Gem’s flagship Letseng diamond mine had produced 57,116 carats during the first six months of the year ended June 2012.
It said the mine also achieved an average value of $2‚133 per carat during the first half of the year compared with $3‚052 realised a year earlier.
Namakwa on the other hand realised revenues of about $4.2 million from its third sale of Kao rough diamonds in Antwerp, with achieved prices 3.4 percent higher than initial management estimates.
However, with all the positive news coming from the diamond miners in Lesotho, the country’s new Prime Minister Tom Thabane said the gems were not being mined successfully in a manner that benefits the country, hence the move to review the ownership structure.
"We also have lots of diamonds, but are not doing so well," he said.
Thabane said that the proposed law would not affect the non-mining sector as was the case in Zimbabwe under its controversial indigenisation law.
“The localisation issues mentioned are in the mining sector — other sectors are not affected,” he was quoted by Businessday as saying.
"But it is still a debate. At the moment we do not think we will follow the status quo.”

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

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