Innovation and automation can conquer any challenges

Rahul Gaywala, the CEO of STPL has been with the Sahajanand Group since 1993 and in his tenure with STPL, he has proved to be a hard-core innovator and technocrat intent on helping to transform the diamond trade from a labour-intensive industry to an...

Yesterday

Memorial Foundation of Carl Fabergé continues to fulfill its tasks

Valentin Skurlov, Ph. D., who is an Honorary Academician of the Russian Academy of Arts, professor, scientific secretary of the Fabergé Memorial Foundation, consulting researcher studying the Fabergé heritage at the Russian department of the Christie's...

30 march 2020

Gaetano Cavalieri: We need to protect the long-term health of our industry

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

Lucapa produces 3,089 cts at Mothae as ramp-up phase ‘progresses well’

18 january 2019

news_02072018_lucapa.pngLucapa Diamond said it produced 3,089 carats between November and December 2018 at its 70 percent-owned Mothae mine in Lesotho.
It processed 78,426 tonnes of kimberlite material from the South East domain during the ramp-up phase and the diamonds recovered included six stones weighing more than 10.8 carats.
These specials included D-colour white diamonds weighing 78 carats and 38 carats. 
“Significantly, these recoveries produced a recovered grade of 3.94 carats per 100 tonnes for the quarter – more than double the resource and forecast grades of 1.92 cpht and 1.83 cpht respectively,” said Lucapa.
“The production of large diamonds has continued post-quarter end, with three specials recovered to date in January 2019 already.”
Meanwhile, Lucapa said diamond production from its 40%-owned Lulo alluvial project in Angola was 1% down to 5070 carats in the fourth quarter of 2019 compared with 5,127 carats produced, a year earlier.
The drop was attributed to the processing of gravels from lower-grade areas.
It said Lulo alluvial mining company SML achieved gross revenues of $6 million from the sale of two parcels of Lulo diamonds during the quarter averaging $1,118 per carat, taking calendar 2018 sales to $26.4 million at $1,313 per carat.
Lucapa also said that it had a cash balance of $8.2 million at the end of December, of which $4.3 million was held at corporate level and $3.9 million at Mothae.

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