Diamond miner Lucapa Diamond Company has announced revenues of A$15.7 million from the sale of seven exceptional diamonds from its Lulo operation, in Angola. The company sold 534.9 carats by tender, achieving an average price of $29,401 per carat. Of the seven diamonds sold during the tender, the 180-carat Type II white diamond recovered in June this year, and a 66-carat pink diamond, attracted the highest prices per tonne. “This tender demonstrates that the weakness
The National Diamond Trading Company of Angola (SODIAM) announced that it raised 22 million dollars from the auction sale of 1,329.89 carats of rough diamonds on Thursday, October 12, 2023. This was the 7th diamond auction held in Luanda and included special stones from mining companies such as Lulo, Kaixepa, Somiluana, Catoca, and Luele, according to a statement from Sodiam sent to Lusa. The most valuable diamonds came from the Lulo mine and yielded nearly
DE BEERS will suspend online rough diamond sales and plough $20m into marketing gems ahead of the critical year-end buying season. The Anglo American-controlled firm also said it had reduced its rough diamond availability amid a 61% year-on-year decline in rough diamond sales for the eighth cycle which came in at $200m (2022: $508m). Sales in the seventh cycle totalled $370m. Commenting on its decision to suspend online sales, De Beers CEO Al Cook said
Endiama, the national diamond company, will use TECH-Minas, an unprecedented tool created in Angola, to monitor mining activity and the “alarming” problem of mining, announced the president of the company’s board of directors. Jose Ganga Júnior stated that TECH-Minas facilitates the monitoring and surveillance of mining activities, performance levels, as well as security issues in the areas. “The mining industry, which presents alarming environmental problems and ecological disasters, can be observed from our office almost
The Chairman of the Board of Directors of Endiama, a state-owned diamond company, expressed grave concerns regarding diamond mining activities in concession areas within the Lunda Norte province. These concerns primarily stem from alleged complicity among certain authorities. Jose Gange Júnior voiced his apprehensions during the biannual review session on diamond production, currently underway for three days in Dundo, the capital of Lunda Norte. According to the official, the situation is particularly troubling in the
The Minister of Mineral Resources, Petroleum, and Gas (MIREMPET) made an appeal yesterday for a concerted effort to combat the promotion campaign of the commercial value of synthetic diamonds over natural ones in the international market, conducted by institutions interested in influencing market prices. Edições Novembro Diamantino Azevedo spoke to the media on the sidelines of the meeting of the Ad-Hoc Committee for the Review and Reform of the Kimberley Process Certification System, which concludes
London-listed Petra Diamonds has released initial results for its Tender 2 sales, which have been brought forward owing to a two-month moratorium on diamond imports to India starting on October 15. The initial results of Tender 2, which account for 75% of the total tender volume, indicate sales of 344 554 ct for $30.2-million. The average price realised in the tender was $88/ct, which is between 16% and 18% lower than the average price achieved
ASX-listed Lucapa Diamond Company, which holds a 40% interest in the Lulo mine, in Angola, and a 70% interest in the Mothae mine, in Lesotho, has appointed Nick Selby as CEO and MD. Selby has served as interim CEO since August, following former CEO and MD Stephen Wetherall‘s resignation. Selby, an extraction metallurgist, joined Lucapa in October 2014 as COO and was appointed executive director of operations in September 2017. He began his career with De Beers, where
The value of De Beers’ rough diamond sales for the eighth sales cycle of this year decreased to a provisional $200-million, as the diamond miner reduced its rough diamond availability in light of the industry’s midstream working to rebalance certain areas of stock accumulation. De Beers sold $508-million of rough diamonds during the eighth sales cycle of 2022 and $370-million of rough diamonds in the seventh sales cycles of this year. Sightholder and auction sales for
Canadian diamond mining company Diamcor Mining, which owns and operates the Krone-Endora at Venetia mine, in South Africa’s Limpopo province, plans to complete a term loan financing of up to C$5-million. The proceeds will be used for general corporate purposes, the deployment of additional operational equipment to support increased processing volumes, the continued advancement of the work programmes currently under way at Krone-Endora and to provide the company with additional working capital to offset the timeframes associated with the
