An alliance between a diamond producer and a diamond manufacturer in Russia is simply inevitable and necessary

What is a diamond manufacturer’s margin composed of? What is the profession of diamond processing engineer about? How much time does it take to become a diamond cutter? How does a polishing factory work? The Russian Cut, is it alive? Lightbox from De...

15 october 2018

High technologies make it possible to create a product that can be obtained in natural stones only for very big money

Andrey Zharkov, having left the position of President at diamond mining company Alrosa, has established and headed the Ultra C company, which will be engaged in the production of diamonds from the reactor. In this interview with industry news agency...

08 october 2018

The once unorganised domestic jewellery sector in India is now growing

A veteran businessman, former Chairman of Gem & Jewellery Council (GJC), Bullion Expert, a third-generation jeweller born with a silver spoon (or was it gold?) in his mouth, a perpetual optimist … yes, the list could go on. As the first...

01 october 2018

India is poised to become a major fine jewellery market in the near future - Pramod Agrawal, Chairman GJEPC

Pramod Kumar Agrawal, the current Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a successful entrepreneur in his own right. Despite belonging to a jewellery business family, with his father dealing in gemstones...

24 september 2018

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

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.

news_01082018_debeersvoor.png
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