GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Lucapa acquires stake in Lesotho’s Mothae Diamonds

01 february 2017
Lucapa Diamond has acquired a 70-percent stake in Mothae Diamonds, which holds the mining lease and other assets related to the advanced Mothae kimberlite diamond project in Lesotho.
The kimberlite project had an indicated and inferred resource of 1 million carats and an inferred resource valuation of $1 billion.
“This acquisition is in keeping with Lucapa’s stated strategy of continued growth as a diamond producer and explorer,” said company chief executive Stephen Wetherall.
“Mothae compliments the producing high-value Lulo diamond mine and our highly prospective exploration assets in the advanced Lulo kimberlite project and the earlier stage Broking and Orapa Area F projects.”
Trial mining had identified that Mothae hosts large Type IIa diamonds, including individual stones up to 254 carats, as well as gem quality diamonds that have sold for up to $41,500 a carat.
Paragon Diamonds had initially finalised an agreement with Mothae’s previous majority owner, Lucara Diamond, to purchase its 75 percent stake in the project for $8.5-million, but failed to raise the funds.
Lucara, however, completed the transfer of its shares of Mothae and the Mothae site bulk sample plant last March to the Government of Lesotho, which saw it being released from all liabilities relating to the rehabilitation of the project.

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