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

Angola’ s inaugural diamond tender yields $16.7 mln, says Lucapa

01 february 2019

Lucapa Diamond said seven large diamonds, weighing 498 carats, from its 40 percent-owned Lulo alluvial mine, in Angola were sold for $16.7 million or at an average price of $33,530 per carat.
The sale brought total sales of Lulo diamonds to date to $141 million at an average price per carat of $2,105.

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Image credit: Lucapa Diamond

Lucapa said the exceptional sale prices achieved for the Lulo diamonds showed the highly-competitive bidding from leading international diamantaires and large stone manufacturers from eight countries that participated in the tender.
The tender was organised in Luanda by SODIAM, a state-owned company responsible for the trading of diamonds in Angola.
It marked a new dawn for the Angolan diamond mining industry as it was the first Angolan production offered for sale via competitive tender under the new diamond marketing policy enacted by president Joao Lourenco.
Diamond producers in Angola previously sold their rough to buyers selected by Luanda through an opaque government marketing system.
Angola, which was currently the fifth largest diamond producer in the world, wants to be one of the two leading diamond producing countries by 2022.
The country produced 9,4 million carats last year.

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