The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

Gem Diamonds recovers 163ct yellow diamond

26 june 2020
Image credit: Gem Diamonds

Gem Diamonds has recovered a 163 carat yellow type 1 diamond at its Letšeng mine, in Lesotho.
The company said in a tweet that the diamond with no breakage was unearthed on 24 June.
Production at Letšeng dropped 12% to 26 110 carats in the first quarter of the year from the previous quarter’s 29 768 carats. 
Mining and treatment volumes were impacted during the period primarily by drill rig availability issues, testing of different blasting parameters, additional maintenance to the tertiary cone crusher and scrubber drive-arrangement in plant 2. 
Mining and treatment volumes were also impacted as a result of the lockdown and the placing of the mine temporarily on care and maintenance which commenced on 28 March 2020.
Gem Diamonds, however, recommenced mining operations at Letšeng on 27 April after Maseru permitted the re-opening of diamond mines in the country, previously subjected to a lockdown order.
The company recently reported that it realised an average dollar per carat of $1,707 in the first half of 2020 compared to $1,687 per carat, a year earlier. 
At least 15 diamonds were sold in the first half of 2020 for more than $1 million each and one diamond for over $5 million.

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