“Lab-Grown Diamonds is probably the biggest scam this industry has ever seen,”: Leibish Polnauer, Founder-President, Leibish & Co.

An interesting story from the Leibish & Co takes you way back to the year 1979 when young Leibish Polnauer, then a diamond polisher, was travelling to London, having just found out that the factory at which he worked had been shut down. He found an advertisement...

24 june 2019

Botswana mining industry players speak on speculative exploration licences

Speculative mineral exploration licences was a recurring theme from presentations made by three players in Botswana mining industry at a conference convened in Gaborone. The country has issued thousands of exploration licences, across the mining industry...

17 june 2019

Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

Lucapa’s Lulo alluvial mine to expand operations

05 june 2019

news_02072018_lucapa.pngLucapa Diamond said its 40%-owned Lulo alluvial mine, in Angola is set to reach a 50% expansion capacity in the second half of 2019.
The diamond company said Sociedade Mineira Do Lulo (SML) will self-fund a $12 million expansion of the alluvial mine this year.
“Expanded operations will accelerate dividend returns and return of about $30 million to Lucapa in investment loans provided to SML to explore for and develop the alluvial mining operations,” it said.
Lucapa said a third shift will be implemented on the plant.
Meanwhile, the ASX-listed mining company said Lulo is expected to register growth in sales prices following transformative Angolan diamond sector reforms, including access to international sales channels and cutting and polishing.
Lulo diamonds have so far this year generated $22.1 million, achieving an average price per carat of $3,668.

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