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Category: Diamonds

Diamonds Economy Local Mining News Oil

Angola and Botswana Focus on Oil and Diamond Refining

Angola and Botswana convened their respective ministerial delegations yesterday Wednesday 7th February, in Cape Town, South Africa, to discuss cooperation in the mineral resources sector. The ministers, Diamantino Pedro Azevedo from Angola and Lefoko Moagi from Botswana, explored the possibility of future bilateral meetings. During the meeting, the focus was on the foundational aspects of bilateral cooperation between Botswana and Angola, emphasizing the development of the extractive industry and the potential for strengthening relations in

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Diamonds Economy Local News

Angola’s Diamond Sector Invests $235 Million in Social Responsibility Projects

The Diamond Subsector has contributed approximately $235.8 million to social responsibility projects from 2017 to the first half of 2023, revealed Sidónio Borges, Head of the Information Technologies and Marketing Department at Fundação Brilhante, during a workshop on social responsibility actions in Luanda. Of this total, $112.8 million has been allocated to completed projects, while $123.04 million is earmarked for ongoing initiatives. Leading contributors to these efforts include Sociedade Mineira de Catoca, Sodiam, Endiama, and

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Diamonds Economy Local Mining News

Angola’s Diamond Industry Shines with a Renewed Partnership with De Beers

The diamond mining and marketing company De Beers is set to collaborate with Angola on opportunities to increase diamond production, support the alluvial mining sector, and enhance social development for the benefit of Angola’s citizens. On Tuesday 6th February, De Beers signed a memorandum of understanding (MoU) with Angola’s National Mineral Resource Agency, Angola’s state-owned Endiama diamond company, and Angola’s state-owned Sodiam diamond trading company, aiming to support the outlined objectives. De Beers CEO Al

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Diamonds Local News

Lucapa Sales Slip in Weak Market

Revenue decreased at Lucapa Diamond Company in the fourth quarter as demand for its rough slowed and prices dropped. Sales from the company’s mines slipped 1% year on year to $40.8 million for the period, it reported last week. The average selling price slid 9% to $2,458 per carat, outweighing a 9% rise in volume to 16,600 carats. At the company’s Lulo mine in Angola, revenue fell 4% to $34.9 million, with sales volume plunging

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Diamonds International

Diamond Industry Gears Up for Tighter Controls

New sanctions on Russia will fast-track the adoption of traceability programs across the supply chain. Should they wish to sell those diamonds into the Group of Seven (G7) countries, companies will have to prove their goods were sourced from non-Russian production. On December 6, the G7 — comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States — announced its latest sanctions, aimed at “limiting Russia’s ability to fund its illegal war,”

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Diamonds Economy International Mining News

Robust U.S. Demand Plays Key Role in Sustaining Stability in the Diamond Industry

The diamond miner, De Beers, reported provisional rough diamond sales of $370 million in its initial sales cycle for the current year. Although this figure was lower than the $454 million recorded in the first sales cycle of 2023, it marked an improvement from the $137 million in sales documented in the tenth sales cycle of the same year. De Beers CEO Al Cook commented on the sales performance, stating, “Solid consumer demand for diamonds

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Local Diamonds Economy Gas Mining News Oil

Rio-Tinto Signs Second Mining Investment Contract with Angola

On the 17th of January, 2024 the English-Australian mining giant, Rio Tinto signed a mining investment contract with the Angolan Ministry of Mineral Resources, Oil and Gas in Luanda. The $5.7 million USD deal will grant Rio Tinto a 35-year exploratory license for the Moxico Concession. According to the company’s website, the exploration will primarily be seeking base metals such as copper, zinc, cobalt and titanium. The contract calls for an initial 5 years of

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International Diamonds News

Botswana Diamonds Reports Potential Discovery

Diamond exploration and project development company, Botswana Diamonds, has completed a geological survey over four high-grade geophysical targets in the southern African country. Preliminary results suggest that at least one of the targets give a strong indication of kimberlites. Situated approximately 6km from the existing KX36 diamond discovery, the gravity survey will be repeated and correlated with previous results before the company commences exploratory drilling operations. “This is the first strong indication of additional kimberlites

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Diamonds Economy Local News

ENDIAMA Reports $1.5 Billion Turnover for 2023 Amidst Market Pressures

The National Diamond Company of Angola (ENDIAMA) disclosed a 2023 turnover of $1.5 billion, attributable to the production of over nine million carats. The announcement came during a press conference in Luanda, where Ganga Júnior, the President of the Board of Directors, presented an overview of the year’s activities. Ganga Júnior acknowledged a decrease in profit, citing investments in prospecting projects, reinforced mining activity, and challenges in diamond sales on the international market. ENDIAMA’s net

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Diamonds Local News

Endiama presents balance sheet for the 2023 financial year

The National Diamond Company of Angola (Endiama) presented, on Wednesday January 17th in Luanda, at a press conference, the balance of actions for 2023 and the goals to be achieved in 2024. The chairman of the Board of Directors, José Ganga Júnior, presented data and disseminated information on Endiama’s evolution over the past year, as part of the celebrations of the diamond company’s 43rd anniversary, created on January 15, 1981. According to available data, Endiama raised, in

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