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

DiamondCorp to commence SA underground kimberlite mining ahead of schedule

29 august 2014

DiamondCorp said it will commence underground kimberlite mining from the “high-grade” Upper K4 (UK4) block at its Lace mine in South Africa in the first half of 2015, six months ahead of schedule.
The company’s adoption of a revised development budget and schedule during the six month period ended 30 June 2014 necessitated this envisaged early start.
The UK4 development would be funded from existing project finance facilities.
DiamondCorp said in a statement emailed to Rough&Polished that the Lace processing plant operated on tailings during the period under review so it could be maintained and optimised in readiness for kimberlite processing, including the UK4 bulk test.
Income from diamond sales for the period were capitalised as a credit to mine development, it said.
“The period under review saw us move closer to our goal of commencing long-life underground kimberlite mining at the Lace mine,” said DiamondCorp chief executive Paul Loudon.
“Our constant attention to mining and development costs, and emphasis on diamonds recovered rather than tonnes throughput, positions us well to generate outstanding returns for our shareholders when mining commences from the UK4 Block in the first half of 2015.”
Meanwhile, the firm said diamond recoveries from tailings for the period totalled 13,055 carats at an average recovered grade of 5.78 carats per hundred tonnes (cpht), against a budget of 5.00 cpht.
Lace diamond sales for the period were 14,583 carats.
It said diamond sales before selling costs were $907,308, representing an average of $62 per carat.
The most valuable diamond sold was a 5.6 carat sawable which achieved $3,250 per carat.
Additional income of $29,902 was generated from diamond beneficiation and fine diamond sales.

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