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

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Lucara steams ahead with Karowe underground expansion project

12 august 2021
Lucara Diamond says it has made progress on the Karowe underground expansion project over the last 18 months, despite the challenges imposed by the global pandemic. 
Company chief executive Eira Thomas said the project is fully financed, allowing Lucara to move into high gear during the second half of the year. 
“Using conservative diamond price assumptions, the project delivers strong economics projected to pay back capital in under three years and add approximately $4 billion in revenues from an extended mine life out to at least 2040,” she said.
“The project also comes at a time when the outlook for the diamond market is stronger than it has been for many years representing an exciting growth opportunity for our shareholders and stakeholders in Botswana."
The Karowe underground expansion project is planned to extend the mine life to at least 2040 mining predominately from the highest value EM/PK(S) unit and is forecasted to contribute approximately $4 billion in additional revenues, using conservative diamond prices, starting in 2026.
The budgeted spend on underground expansion activities in 2021 is up to $120 million.
Out of the total capital budget, the company has spent $51.4 million on project execution activities through 2020 until the end of June 2021, including shaft and geotechnical engineering, procurement of long-lead time and essential shaft sinking items, surface infrastructure and construction activities, bulk power supply power line engineering and procurement. 

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