Innovation and automation can conquer any challenges

Rahul Gaywala, the CEO of STPL has been with the Sahajanand Group since 1993 and in his tenure with STPL, he has proved to be a hard-core innovator and technocrat intent on helping to transform the diamond trade from a labour-intensive industry to an...

06 april 2020

Memorial Foundation of Carl Fabergé continues to fulfill its tasks

Valentin Skurlov, Ph. D., who is an Honorary Academician of the Russian Academy of Arts, professor, scientific secretary of the Fabergé Memorial Foundation, consulting researcher studying the Fabergé heritage at the Russian department of the Christie's...

30 march 2020

Gaetano Cavalieri: We need to protect the long-term health of our industry

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

Lucapa eyes majority stake in Angola’s Lulo diamond mine

29 november 2019
Lucapa Diamond is in advanced discussions with the Angolan Ministry of Mineral Resources and and Angola’s national diamond company Endiama to potentially secure a majority stake in the Lulo joint venture.

news_29112019_lulo.png
  Block 8 of Lulo diamond mine                                                                                   Image credit: Lucapa Diamond

The company currently holds a 39% interest in Lulo and is the operator of the kimberlite exploration joint venture.
Endiama holds 51% while Rosas & Petalas owns the remaining 10%.
Lucapa said it hopes to conclude the discussions in the first quarter of 2020.
Lulo holds the primary (kimberlite) exploration licence for the 3,000km2 Lulo diamond concession in Angola.
The kimberlite exploration programme aims to identify the primary hard-rock source or sources of the alluvial diamonds being mined by Lucapa and its partners at Lulo, which have achieved average run of mine sale prices of about $1,900 per carat.

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