Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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16 august 2021

Firestone says Liqhobong Cut 3 extension not economical for now

29 march 2019

firestone_diamonds_logo.pngFirestone Diamonds said the current average diamond values realised and economic assumptions makes it uneconomically viable, for now, to embark on the Cut 3 extension at Liqhobong, in Lesotho.
The company said it would, however, keep under review the option to extend the mine life should economic conditions, particularly the average value per carat and projected price growth assumptions, improve.
Firestone recorded an average grade of 24.6 carats per hundred tonnes (cpht) during the six months ended 31 December 2018 mainly due to treating more of the higher grade ore blocks in the southern part of the open pit.
Work on the life of mine, which was conducted recently indicated that a Cut 3 could increase the life of mine by three years and result in 40% more carats compared to the current eight-year mine plan. 
“The company retains the ability to revert to the longer term plan until FY2021, after which time a mine life extension would become significantly more costly due to the increased amount of waste tonnes that would need to be mined,” it said. 

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