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

Firestone Diamonds starts disposal of Botswana operations

15 august 2014

Firestone Diamonds has commenced the disposal process of its Botswana operations to focus on its interests in Lesotho, for which it raised $225.2 million earlier this year.
The AIM-quoted diamond development company's principal investment in Botswana was the BK11 mine and it also owns a number of ancillary assets in country.  
BK11 was placed under care and maintenance in February 2012 in response to technical difficulties encountered, increased capital requirements of the mine and the weakening of the diamond market at the time.
Firestone said as of 30 June 2013, the combined tax loss in respect of the Botswana operations was about $45 million.
It said bids would be considered for the Botswana operations as a complete sale package only.
The company was of the view that its Botswana operations presented a “rare opportunity” that had the ability to deliver strong returns under the ownership of an operator or operators for whom it would be a core asset for.
Under the current BK11 mine plan approximately 11.5Mt of kimberlite was planned to be mined at an average grade of 8.5cpht, resulting in total production of approximately a million carats over a 10 year mine life.
The BK11 mine was located in the Orapa kimberlite field in northern Botswana, approximately 7km north-west and 20km south-east of Debswana's Letlhakane and Orapa mines respectively.

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