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 prepares for Mothae’s first run of mine sale in Antwerp

05 february 2019

news_02072018_lucapa.pngLucapa Diamond, which has a 70 percent stake in Lesotho’s Mothae, said it is preparing for its first run of mine sale that will be convened in Antwerp this month.
This comes after seven large diamonds, weighing 498 carats, from the company’s 40 percent-owned Lulo alluvial mine, in Angola were sold last week for $16.7 million or at an average price of $33,530 per carat.
Lucapa chief executive Stephen Wetherall noted in a paper seen by Rough & Polished on Monday ahead of his presentation at a mining conference in Cape Town that specials being recovered at Mothae included high colour whites weighing 78 carats and 38 carats as well as an 89 carat yellow.
Lucapa acquired the mine in 2017 and it installed a new Mothae plant, which incorporated advanced diamond recovery technology, including two XRT diamond recovery modules designed to recover large and rare Type IIa diamonds.
More than 4,100 carats of diamonds had been recovered from the bulk sampling of areas within the Mothae kimberlite pipe which had not previously been or had been inadequately tested during the previous trial mining phase.
Lucapa previously said it was targeting to produce about 44,000 carats of diamonds at Mothae over the first three years of commercial recoveries. 
An independent JORC resource estimate for Mothae was 1 million carats of diamonds at a modelled average diamond value of $1 063/carat – the second highest JORC average price per carat in the world.

Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished