“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...


Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 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