“The industry is under some pressure, and as we all know, diamonds are formed under great pressure!”, says Dr Martin Leake

A veteran in the field of precious stones, Dr Martin Leake a doctorate geologist had worked for 22 years with BHP Billiton; and also set up a world-class marketing unit for Grib Diamonds in Antwerp. Later, as an Independent Consultant, Dr Martin Leake...

09 september 2019

Recovery of diamond industry within a year if end-consumer demand holds – Zimnisky

An independent diamond industry analyst and consultant said the natural diamond industry will be in a better position within a year time if end-consumer demand holds. Paul Zimnisky, CFA told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

02 september 2019

Working according to one’s weaknesses and strengths

Canon Jhaveri grew up watching his diamond-dealer father and uncle working with diamonds. The sparkles of the diamonds fascinated the young boy, who became more intrigued every time he visited his father’s office. After graduating in 2002, Canon Jhaveri...

26 august 2019

The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Angola mulls privatisation of state diamond company

11 july 2019

logo_endiama-2.pngThe Angolan government is set to privatise the national diamond company, Endiama and partially float its capital on the stock exchange, a Portuguese news agency has reported.
Minister of Natural Resources and Oil Diamantino Azevedo was quoted by Lusa as saying that a mineral resources agency is being set up to act as regulator and concessionaire.
Endiama, will no longer take on these roles and part of the diamond company will floated on the stock exchange, he said.
Azevedo said the realignment of the mining sector follows that of the oil sector, which saw Sonangol sell its non-strategic assets and will have a minority share of its capital floated on the stock exchange in 2020.
“The idea is the same, and the strategy for its implementation is now being drawn up,” he said.
“… the future Natural Resources Agency will benefit from all the experience and assets of the state-owned company that deals with precious metal and mineral resources.”
Endiama is expecting to earn about $1.5 billion in revenue this year compared with $1.25 billion realised from 8.47 million carats sold in 2018.
Endiama has a 41% interest in Catoca, which produces and sells about 6.8 million carats of Angolan Catoca’s reserves are estimated at 120 million carats. 
It also has interests two other primary kimberlite projects – Camutue and Luo. 
Endiama has stakes in nine secondary alluvial projects, which included Chitolotolo, Chimbongo, Cambange, Cuango and Lulo.
Endiama, together with Russia’s Alrosa, are prospecting for diamonds at the Luaxe kimberlite project. 
The deposit was discovered in 2013 and it has reserves of about 350 million carats with a lifespan of 30 years.  

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