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...


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

Gem Diamonds boosts 2018 output

07 february 2019

news_21062018_gem.pngGem Diamonds said output at its 70 percent-owned Letšeng mine, in Lesotho rose 13% to 126, 875 carats in 2018 compared with 111,811 carats, a year earlier.
Company chief executive Clifford Elphick said 2018 was unique as they recovered 15 diamonds greater than 100 carats, breaking a recorded registered in 2015 when it found 11 diamonds of the same size.
Production in 2018 also included a record number of diamonds greater than 20 carats recovered in a single year, he said.
Elphick said the revised mine plan resulted in a significant reduction in Letšeng's overall stripping ratio due to steeper slope angles, which was expected to result in a significantly improved net present value of the mine.
“Good progress has been made on the business transformation process which remains on track to achieve its cumulative 4-year target of $100 million, with already implemented initiatives expected to deliver $60 million over the 4-year target period," he said.
Gem said the highest diamond price achieved during the fourth quarter was $64, 067 per carat for a 4.06 carat, pink diamond, which was also the highest price per carat achieved in 2018. 
It said a strong pricing was achieved at the first tender of 2019, with an average price of $2 004 per carat.
This was due to an improved quality in production.

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