Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

Botswana begins due diligence on possible Lucara stake

03 july 2019

The Minerals Development Company Botswana (MDCB) is currently conducting due diligence on a possible stake in Lucara Diamond, which owns the Karowe Mine.
This comes after Botswana President Mokgweetsi Masisi said last month that he had proposed for Lucara to allow Gaborone to invest in the company. 

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                               Image credit: Lucara
          

“We want to see whether the offer can be viable because we don’t want government to get into unnecessary debts,” Botswana mineral resources minister Eric Molale was quoted as saying by BusinessWeek.
“We have not progressed anything thus far.” 
Unnamed analysts cited by the newspaper said Botswana’s decision to consider acquiring a stake in Lucara was a bit late as Karowe is left with a few years before ending open pit operations. 
“The thinking could be to cash in on the profits to be made now because by 2026, Karowe will be going underground where costs are higher and tricky variables are plenty,” said the analyst.
“It would have made sense to move in a few years ago, but by that time, Lucara’s value was at record highs after Lesedi and Constellation.
“Getting in prior to Lesedi and Constellation would have been a risk of taxpayer monies as no one would have predicted the two big stones’ discoveries.”
Lucara recently recovered a 1,758 carat diamond from Karowe, which was the world’s second largest diamond after the 3,106-carat Cullinan diamond, recovered in South Africa in 1905.    
Its 1,109-carat Lesedi La Rona diamond, unearthed in 2015 from the same Botswana mine, held the record as the second largest diamond in recorded history until the latest recovery.  

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