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

“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

ALROSA reports on the status of suspended Mir mine

18 march 2019
ALROSA described the decision-making concept regarding the development of its currently suspended Mir mine in a press release distributed on Monday. It says that following the analysis of several options for deposit opening and deep level development, ALROSA has worked out a decision-making concept regarding the restoration or full closure of Mir.
The concept requires deep level exploration down to -1,300 metres to confirm the mine's reserves. These activities are scheduled to be completed by early 2022. Budgeted at around RUB 2 billion, this work is included in the Group's RUB 28.7 billion capex programme for 2019.
Based on the results of the exploration works, pilot holes will be drilled to start preparation of deposit opening design documents (within 1 to 2 years). This work is to be completed before 2024.
Simultaneously, the Company will carry out conceptual design activities to ensure water disposal at the mine and choose the best mining technology as well as ventilation and gas safety options.
If it is decided that the restoration of the Mir underground mine is feasible, the construction is estimated to take 6 to 8 years.
In summary, the Mir mine restoration can start no earlier than 2024 and only if the studies yield positive results, and if it is confirmed that construction and mining can be done with the highest level of occupational safety.
ALROSA's decision about further development of this mine will be based solely on safety considerations and economic viability.