Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

Lacapa rakes in $5.5m from Lulo, Mothae run of mine diamond sales

12 february 2020

Lucapa Diamond has raked in $5.5 million from the first sales for 2020 of diamonds from its 40%-owned Lulo alluvial mine in Angola and its 70%-owned Mothae kimberlite mine in Lesotho. 
It sold 1,548 carats of Lulo diamonds for gross proceeds of $3.4 million, representing an average price per carat of $2,200.  

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Image credit: Lucapa Diamond


Lucapa also sold 6,306 carats of Mothae diamonds for $2.1 million, representing an average price per carat of $339.
The Lulo alluvial mine and Mothae kimberlite mine both produce large and high-value diamonds, with more than 75% of revenues generated from the recovery of +4.8 carat stones. 
Lulo has produced 14 +100 carat diamonds to date and is one of the highest average US$ per carat alluvial diamond producers in the world.
The new 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho also commenced commercial mining operations in January 2019. 
It produced more than 30,000 carats in its first year of production, including 10 +50 carat diamonds.

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