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...

Yesterday

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

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

De Beers to close Voorspoed mine

01 august 2018
De Beers said it will proceed with the responsible closure and rehabilitation of Voorspoed Mine in the Free State Province, in South Africa.
It said the decision followed an extensive, transparent and comprehensive disposal process, which involved a rigorous due diligence exercise on the bidders to acquire the mine.

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Image credit: De Beers Group


De Beers Consolidated Mines(DBCM) chief executive Phillip Barton said they failed to identify a suitable bidder and had reluctantly taken the decision to close the operation, as it was no longer economically viable for the company to operate the mine.
“We do not underestimate the impact this will have on Voorspoed Mine’s employees and we have put in place appropriate support structures,” he said. 
De Beers said South Africa’s Department of Mineral Resources (DMR) had requested that it runs its closure process in parallel with a separate process through which the department would seek to identify and propose an operator capable of purchasing the mine.
“DBCM will engage further with the DMR in relation to the proposal in order to understand and finalise the basis upon which it will be undertaken,” it said.
Voorspoed was opened on 4 November 2008 with an expected operating life of mine of 10 years.

Mathew Nyaungwa, Rough&Polished