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...

Today

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

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

Lucapa realises $35.5 mln from sale of Lulo, Mothae diamonds

08 august 2019

news_02072018_lucapa.pngLucapa Diamond has raked in $35.5 million from the latest sale of diamonds from its Lulo and Mothae mines, in Angola and Lesotho respectively.
It said in a statement that the run of mine parcel of 3,558 carats of Lulo diamonds was sold for gross proceeds of $4.4 million, representing an average price per carat of $1,234. 
This took total sales of Lulo diamonds to date in 2019 to $26.5 million at an average price per carat of $2,764.
Lucapa said the latest sale did not include the high-value 46 carat Lulo pink diamond, which is being considered for cutting and polishing by the Lulo partners to capture margins from beyond the mine gate. 
A parcel of 4,376 carats of Mothae diamonds was sold for gross proceeds of $1.8 million, representing an average price per carat of $400 for the run of mine production and $475 per carat for diamonds in the +11 sieve size fraction.
The sale result was impacted by the decision to withhold from sale the highest-valued Mothae diamond in the tender – a 36 carat D-colour stone. 
This diamond, it said, is also being considered for cutting and polishing to capture margins from beyond the mine gate. 
The latest sale took total Mothae sales to date in 2019 to $9 million at an average price per carat of $539 and $661 for the +11 sieve size fraction.

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