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...

Today

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

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