African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

Lesotho renews Letšeng mining lease

07 october 2019

gem_diamonds_logo.pngThe government of Lesotho has renewed Gem Diamonds’ mining lease for its 70%-owned Letšeng mine following a successful statutory negotiation process.
The lease was renewed with immediate effect for a period of 10 years with an exclusive right granted to Letšeng to renew the mining lease for a further period of 10 years.
"The mining lease renewal will allow the Letšeng mine to continue to make a very significant economic and social contribution to the people of Lesotho,” said company chief executive Clifford Elphick.
Gem Diamonds said the royalty payable in respect of diamonds sold by Letšeng was increased from 8% to 10% with effect from 3 October 2019
The royalty may be remitted in whole or in part in the event that Letšeng embarks upon any material capital project.
Gem Diamonds produced 126, 875 carats at Letšeng in 2018 compared with 111, 811 carats in 2017.
It recovered 15 diamonds greater than 100 carats in 2018, a record for a single calendar year. 
Production in 2018 also included the highest recovery of diamonds greater than 20 carats, with 80% of revenue primarily generated by diamonds greater than 10 carats.

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