De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Belgian-quality diamond boiling in Dubai from TRIGEM

Born in New York, David Zabinsky is CEO & Co-Founder of TRIGEM, an independent diamond service provider in Dubai. Before TRIGEM, David was Manager at Ras Al Khaimah Economic Zone, where he was responsible for securing North and South American investment...

05 november 2019

Pavel Shelkov: "Our project is an attempt to fit Russia into the global trend and create a new private company in the diamond industry"

At the end of September, Moscow hosted the Second Annual Conference, "Gold and Diamond Mining Companies of Russia and Europe." The audience showed great interest to the presentation made by diamond geologist Pavel Shelkov of Almazy Zapolyarya...

28 october 2019

The team that turns sleeping stones into beautiful polished diamonds

Maxim Zemlyakov is the Director General of ADMS OOO, a company cutting and polishing natural and synthetic diamonds in Oryol. He has been the Director General of Oryol-ALROSA since 2007. Before heading it, he worked as a grinder, cutter, instructor...

21 october 2019

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

Lucara to go ahead with Karowe underground expansion

07 november 2019

lucara_news.pngLucara Diamond has concluded a feasibility study for the underground expansion at its wholly-owned Karowe mine, in Botswana, which is expected to double the mine life, and generate significant revenue and cashflow out to 2040.
Pre-production capital cost of the underground project has been set at $514 million.
Lucara chief executive Eira Thomas said a significant portion of the cost to expand the mine underground can be funded from cash flow, and the investment is expected to be paid back in under three years, as the underground allows Lucara to exploit the highest value part of the orebody first and generate more than $5.25 billion in gross revenue.
“Diamond deposits are rare and getting rarer,” she said.
“In this context, we are extending a mine that is in a class of its own, having produced 15 diamonds in excess of 300 carats, including 2 greater than 1000 carats in just seven years of production.”
Karowe has produced 2.5 million carats since 2012 and generated $1.5 billion in revenue.

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