“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

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...

22 april 2019

Lucara to concentrate on Karowe expansion studies

10 january 2019

Lucara Diamond said it will prioritise the completion of a feasibility study examining the potential for underground production and life of mine expansion from 2026 until at least 2036 at its Karowe prospect, in Botswana.
A budget of $14.8 million had been approved for 2019 to complete the feasibility study that was initiated last year.  

Image credit: Lucara Diamond

Work undertaken in 2018 under a budget of approximately $29 million had significantly de-risked the project and efforts would, this year, focus on follow up geotechnical and hydrogeological drilling and related studies. 
Lucara was targeting to produce between 300,000 ct and 330,000 ct from Karowe this year, out of 2.5-million to 2.8-million tonnes of ore processed at an operating cash cost of between $32/t and $37/t. 
It also forecast revenue of between $170 million and $200 million.
Lucara was expected to pay an annual dividend of C$0.10 per share this year.

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