Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Angola’s Luaxe to produce 5.7 Mcts in 2023, negotiating with De Beers and Rio Tinto

09 march 2021
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Image credit: Catoca (Facebook)


Angola's new Luaxe diamond deposit is expected to add 5.7 million carats to the national total output in 2023, which is more than half of its total production in 2020, according to a news report citing a senior government official.
Angola produced about 8 million carats last year down from 9.4 million carats in 2019 due to the global COVID-19 pandemic.
“We are committed to transforming the Luaxe deposit in 2022 into a structured and organised conventional mine, expecting production of about 5.7 million carats in 2023,” Angola’s mineral resources and petroleum minister Diamantino Azevedo was quoted by Reuters.
“[Despite the] unfavourable situation due to the lockdowns caused by the COVID-19 pandemic, we are working to accelerate the start of production in Luaxe.” 
Alrosa and Catoca discovered the Luaxe pipe in 2013. Catoca, in which Alrosa owns 41%, currently holds a 50.5% stake in Luaxe. Endiama and Alrosa each also hold another 8% in Luaxe.
“Although Luaxe is an attractive project for any investor, its shareholding structure has already been established,” said Azevedo.
Meanwhile, the minister said that the state-owned diamond company Endiama had been instructed to negotiate with De Beers and Rio Tinto to invest in the local diamond sector.
“I confirm ... the latest information we have is that the negotiations are going at a good pace,” he said.

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