De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Yesterday

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

Gem Diamonds recovers 357 ct light brown stone from Letšeng

16 october 2018
Gem Diamonds said it has recovered a 357 carat light brown ‘high quality’ diamond from its 75 percent-owned Letšeng mine in Lesotho.
It said in a brief statement posted on its website Monday that the stone was the 13th diamond of over 100 carats recovered from Letšeng this year.

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                                    Image credit: Gem Diamonds


Gem Diamonds said it has recovered a 138 carat, top white colour Type IIa diamond from the Letšeng mine in Lesotho.
Company chief executive Clifford Elphick said July that the improved recoveries combined with the discovery and subsequent sale of the 910 carat Lesotho Legend for $40 million last March had generated a strong financial performance for the first half.
Gem Diamonds registered record rough tender revenues of $169.2 million from diamonds mined in the first half of its financial year, a 43 percent jump on the second half of 2017.
The average price per carat of diamonds sold during the period leaped 33 percent to $2,742 from $2,061.

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