Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

TransHex ups output in Angola despite loss, drop in sales

06 june 2016
TransHex said its 33 percent-owned Somiluana Mine, in Angola produced 99 572 carats during the year ended 31 March 2016 from 94 483 carats, a year earlier due to a 14,2 percent increase in average grade, partly offset by a 7,7 percent decrease in gravel treated.
Diamond sales from the Angolan mine dropped to $34,2 million or $351 per carat during the period under review from last year’s $43,9 million or $458 per carat.
The loss from the Angolan continuing operations amounted to $2.4 million compared to a profit of $0.16 million realized last year.
However, profit from the discontinued Luarica and Fucaúma operations reached $1.6 million up from $1.4 million in 2015.
TransHex said Angolan mining operations would continue on the east bank of the Luana River while prospecting activities would also be focused on the new location to direct operations to areas of interest.
“In order to speed up the expansion of the production footprint, external funding is being sought,” it said.
“Production results and geological work through drilling and bulk testing indicate that carat production for the 2017 financial year will surpass the 99 500 carats achieved in 2016.”
Meanwhile, TransHex said its production in South Africa decreased by 21,5 percent to 48 435 carats from last year’s 61 688 carats, mainly as a result of a 13,4 percent reduction in gravel treated and a 5,4 percent decline in average grade at the Lower Orange River operations to 1,22 carats/100 m3.
Sales revenue from the South African operations also decreased by 28,6 percent in Rand terms from R939,7 ($62.2) million in 2015 to R671,4 ($44.4) million in 2016.
The disposal of the Remhoogte mining right and the discontinuation of operations at Reuning Mine accounted for 14,4 percent of the decrease, it said.

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