“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...

18 march 2019

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 unearths 127 ct white gem diamond at Karowe

14 january 2019

Lucara Diamond has recovered a 127 carat ‘top’ white gem diamond from its wholly-owned Karowe diamond mine in Botswana. 

                                   Image credit: Lucara Diamond

Company chief executive Eira Thomas said the recovery of the stone shows the remarkable nature of the Karowe orebody, which had consistently delivered large, high value diamonds throughout its history. 
“The Karowe diamond mine currently boasts open pit reserves of 2.6 million carats extending out to 2026 and is in the process of completing a feasibility study that could expand mining underground to 2036 and beyond," she said.
A total of 129 diamonds in excess of 100 carats had been recovered since mining began at Karowe in 2012 and 33 were unearthed in 2018 alone. 
The tally includes 12 diamonds larger than 300 carats in size, of which five were recovered in 2018, said Lucara.
In addition, the company sold 180 diamonds in excess of $1 million each, while 10 diamonds were sold for more than $10 million each.
Thomas said the company would this year largely focus mining on the high value south lobe, including contributions from the newly refined EMPKS unit which was now understood to be the source of both the historic 1,109 carat Lesedi la Rona and the 813 carat Constellation.

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