Color diamonds are more valuable and desirable and a better investment

In 1993, Eyal Cohen started his career as a diamond cutter, sitting by his father’s side as an apprentice. 4 years later, he was recruited by a jewelry firm, where he learned to appreciate natural colored diamonds. In 2003, Eyal opened his own company...

17 september 2018

Debate on the main issues affecting the diamond business is absolutely critical - Ernie Blom

Having taken part in the fruitful discussions with the world leaders at the Asian Summit held recently in Vladivostok, Ernie Blom, President, World Federation of Diamond Bourses (WFDB) now looks forward to taking the worthy inputs received at...

10 september 2018

Reflecting the nature of the industry, US jewellery market is significantly seasonal with great ‘ebb and flow’ in demand, opines Vin Lee

Vin Lee, CEO of Beverly Hills-based Grand Metropolitan, a privately-held luxury goods holding company had migrated from Canada as a child. And one can see that it did not take him long to ascend the US luxury world, establishing himself as a formidable...

27 august 2018

Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

20 august 2018

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

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