The National Diamond Trading Company of Angola (SODIAM) has announced plans for an online auction featuring 18 special stones. Scheduled from the 11th to the 18th of this month in Luanda, the auction will be conducted in collaboration with TRANS ATLANTIC GEM SALES. The auction will be exclusively electronic, with bidding closing on April 19th at 10:00 local time. Targeted at customers registered in SODIAM’s database with expertise in special stone sales, the lots will
Cobre Limited has kicked off a 5-hole, 2,000-meter diamond drilling initiative at its Okavango Copper Project (OCP) in Botswana. This endeavor aims to explore for copper-silver mineralization adjacent to MMG’s Zone 5 and Boseto groups, building on previous drilling success in 2019 and leveraging geophysical data to pinpoint promising sites. Situated near MMG’s Khoemacau Copper mine, the OCP is strategically positioned to benefit from potential discoveries. The drilling program, set to begin within two months,
Botswana Government and De Beers Group have set the 28th June 2024 as the official deadline for signing of the long form agreement. The two parties signed statement of principles on the 30 June 2023 after lengthy negotiations that birthed a new dawn for the over 50 year partnership. Later on the 30th September 2023 the two parties signed the heads of terms, further committing to a long term partnership that will last for the
Gem Diamonds reported a significant decline in profit for the full fiscal year of 2023, with earnings from its Letลกeng deposit in Lesotho dropping to $1.6 million compared to $20.2 million in 2022. CEO Clifford Elphick attributed the decline to various global challenges, including economic uncertainties, conflicts, and a subdued diamond market. The company’s revenue fell by 26% to $140.3 million, primarily due to lower rough diamond prices resulting from the market downturn. Sales volume
De Beers reported a total of $430 million in proceeds from its second rough-sales cycle of the year, showing a 13% decline compared to the same period in 2023. However, this figure marks a 15% increase from its first sight of the year and a significant improvement from the final sight of 2023. Although below average for this time of year, the recent sales indicate a recovery, especially driven by increased demand in the diamond-jewelry
Firestone Diamonds announced the recovery of a 215-carat rough diamond from its Liqhobong mine in Lesotho, marking the largest high-quality stone found at the deposit to date. The company intends to offer the diamond through a competitive bidding tender, following viewings in Antwerp and Dubai. Firestone holds a 75% stake in Liqhobong, with the remaining 25% owned by the Lesotho government. After experiencing challenges due to the COVID-19 pandemic, Firestone resumed operations in October 2022.
The upcoming Technical and Scientific Days of the Mining Workers’ Day, running from April 15th to 27th, will showcase significant milestones in Angolan mining, including the inauguration of the Samiluana diamond project in Lucapa and the Cรกcata Phosphate Exploration Project in Cabinda. The Samiluana diamond project, located in Lunda-Norte province, boasts an estimated production capacity of 12 thousand carats per month and is set to create 762 jobs. With a 33 percent stake from Samiluana
Botswana Diamonds’ Chairperson, John Teeling, has highlighted several positive developments achieved by the company in 2023. These include the discovery of a high-grade anomaly similar in size to the KX36 kimberlite pipe, progress on Thorny River mining permits in South Africa, and renewed interest in the Ghaghoo diamond mine in Botswana. Despite a depressed diamond market in 2023, Teeling remains optimistic about the long-term outlook for mined diamonds. He acknowledges the growing market for lab-grown
The Angolan Government is taking decisive steps to criminalize illegal diamond mining, a practice involving an estimated 1.3 million “garimpeiros” (illegal diamond explorers), mostly foreigners. This move comes amidst concerns over the harmful impacts of illegal mining on the environment, public health, and national security. Presenting the proposal for a Law to Combat Illegal Mining Activity in parliament, Secretary of State for Mineral Resources, Jรขnio Correia Vitor, emphasized the need for more efficient mechanisms to
The Angolan government has raised concerns about illegal diamond exploration, highlighting the potential risk it poses to the commercialization of Angolan diamonds in Europe and America. The need to criminalize “garimpeiros” (artisanal miners) has been emphasized to address this issue. Jรขnio Correia Vitor, the Secretary of State for Mineral Resources, stressed the international association of illegal diamond mining with human rights violations, warning of potential repercussions on diamond sales abroad. He emphasized the importance of
