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
HB Antwerp, a Belgian gem processor and trader, said that one of its founding members who was fired last month has been reinstated, amid a pending deal with Botswana for the supply of rough stones. Oded Mansori was reinstated as managing partner and director and all four of the company’s founding partners have moved past “internal differences of the last several weeks”, HB Antwerp said in a statement issued late on Monday. The three-year-old company said last month
Diamond mining company Lucara Diamond today, October 2nd announced the resignation of CFO Zara Boldt and VP of technical services John Armstrong. Boldt will step down with effect from December 29, and Armstrong will resign on December 1. The company did not name successors for either Boldt or Armstrong. Lucara, which owns the Karowe mine in Botswana, in August reappointed William Lamb as CEO, when Eira Thomas resigned.
Anglo American unit De Beers and Botswana’s government signed a deal covering the main aspects of a new sales and mining agreement for their Debswana diamond venture in the African nation. The pact covers a new ten-year sales deal for Debswana’s rough diamond production through to 2033, along with a 25-year extension to the Debswana mining licences through to 2054, De Beers and the Botswana government said in a joint statement on Sunday. The latest incident happened in Chegutu, some 100 km
Botswana’s government is reassessing a proposed deal with HB Antwerp after Lucara Diamond terminated its sales agreement with the Belgian gem trader, citing financial irregularities, President Mokgweetsi Masisi said last week. Lucara Diamond said on Thursday it had ended its agreement with HB Trading BV, a unit of HB Antwerp, following what it called “a material breach of financial commitments by HB”. HB did not immediately respond to requests for comment. In March Botswana, the world’s
Canadian diamond miner Lucara Diamond has terminated the sales agreement with HB Trading, following a “material breach of financial commitments” by HB. Lucara says it will continue to use its established mechanisms to sell Karowe’s rough diamond production, namely through its Clara diamond sales platform, traditional tenders and other value-added mechanisms for stones. “The Lucara production profile is unique in the diamond industry and the company will continue to look at innovative sales mechanisms to maximise the
ENDIAMA has held a meeting, last month in Dundo- Lunda Norte province, to take stock of the half-yearly diamond production of the mining companies operating in Angola. In addition to maximizing the exchange of experiences, the aim of the meeting was to evaluate the functioning and discuss the procedures applied by the diamond producing companies. The event was led by the Chairman of the Board of Directors of ENDIAMA- E.P, Ganga Júnior, and was also
