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

Pangolin Diamonds inks royalty deal with Umgeni

07 december 2018
pangolin_diamonds-logo.pngPangolin Diamonds said Umgeni Holdings International will acquire a royalty interest in the company’s precious stones prospecting licences in Botswana for $600,000.
Umgeni had also agreed to pay Pangolin an additional $600,000 to acquire royalty interests in its Malatswae, Moenyenana and Motloutse diamond projects.
These were a 2.6 percent gross overriding royalty on diamonds and a 2.6 percent net smelter returns royalty on base and precious metals over the precious stone prospecting licences issued to Pangolin and Geocontracts Botswana.
Geocontracts Botswana was wholly-owned by Pangolin.
“The primary reasons for my additional royalty purchase is because I believe Dr. Daniels knows more about Botswana’s kimberlite geology than anyone else in the world, and I strongly believe Pangolin is on the right track to discover a new and significant kimberlite field southeast of the Orapa Kimberlite Field at their Malatswae Diamond Project in Botswana,” said Umgeni sole shareholder Christopher Jennings.
A total 32 diamonds had been recovered from soil samples to date and 27 within the Malatswae Diamond Project, the largest being 0.19 carats.
Drilling to date had discovered a kimberlite dyke where there was a 100 tonne bulk sample underway to determine its potential economics, and no kimberlite pipes had been discovered as yet.

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