New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

Today

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 2019

At IDE, we encourage innovation throughout the bourse and have even opened a technological incubator to host start-ups - Yoram Dvash

A first generation diamantaire, Yoram Dvash founded ‘Y Dvash Diamonds Ltd’ in 1991 in Israel. While the company grew and made progress under his leadership, Dvash joined industry organizations such as the Israel Diamond Manufacturers Association (IsDMA)...

09 january 2019

Cooperation and collaboration are the development trend of today

Pavel Grankin runs the Slava Group of companies and holds the Slava trademark (‘Slava’ means ‘Glory’ in Russian). He has graduated from the Mozhaisky Military Space Academy. He did his military service at the Plesetsk Сosmodrome from 1987 to...

04 january 2019

De Beers speaks on Zim invitation to explore for diamonds again

De Beers’ exploration team landed in Zimbabwe in 1993 and left in 2006, however, they first prospected for diamonds in Marange in the late 1990s. Harare, under the leadership of the then president Robert Mugabe, alleged that De Beers looted diamonds...

24 december 2018

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. 

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                                   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