Diamond - Copperbelt Katanga Mining

TAGS & Sodiam Sell $15.4M in Rough Diamonds at 2025 Luanda Tender

March 18, 2025March 18, 2025 Constance0 comment

Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond trader, Sodiam, successfully sold more than $15.4 million worth of large rough diamonds at their first tender of the year. The sale, held from March 5 to 13 in Luanda, featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats. Approximately 95% of the goods found buyers. TAGS, which markets production from seven Angolan mines—Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca, and Luele—saw contributions from all of them in this auction. Among the highlights were two high-value diamonds from Lucapa… Read More Here

Mining in Zambia Diamond Drilling New Mining Projects

Xtract Resources Launches Diamond Drilling at Silverking Copper Project in Zambia

March 9, 2025March 9, 2025 Constance0 comment

London-listed Xtract Resources has commenced a diamond drilling program at its Silverking project (Licence 26673-HQ-LEL) in Zambia’s Mumbwa district, Central Province. The program aims to advance project development by assessing mineralisation potential and expanding exploration. Silverking operates under an option and joint venture agreement with Oval Mining, allowing Xtract to earn up to a 70% stake in the Silverking copper mine and its surrounding exploration licence. Key Drilling Objectives The drilling campaign seeks to: Advancing Mine Development Xtract’s executive chairperson, Colin Bird, emphasized the project’s advantage due to historical small-scale… Read More Here

Mining in DRC Diamond

SACIM Struggles with Diamond Sales Restrictions and Financial Challenges in Kasai-Oriental

February 27, 2025February 27, 2025 Constance0 comment

The Anhui Congo Investment Company (SACIM) in Kasai-Oriental continues to face significant challenges, raising concerns across the region. On February 26, 2025, a SACIM manager revealed to Actualité.cd that the company, which typically produces an average of 300,000 carats of diamonds per month, is encountering difficulties in selling its diamonds due to newly imposed price restrictions. Under the terms of Ministerial Decree No. 00049/CAB.MIN/MINES/01/2022, dated February 22, 2022, SACIM is restricted to selling its diamonds to only four buyers, under the oversight of the Center for Expertise and Certification (CEEC).… Read More Here

Mining in DRC Artisanal mining Diamond

DRC Diamond Exports Reach USD 66.4 Million in Q3 2024, Driven by Artisanal Production

January 26, 2025January 26, 2025 Constance

In the third quarter of 2024, the Democratic Republic of Congo (DRC) saw diamond exports generate approximately USD 66.4 million, according to a report from the Technical Cell for Coordination and Mining Planning (CTCPM). The artisanal sector led the exports, with approximately 7.4 million carats exported, yielding an estimated USD 42.8 million in revenue. Export data by comptoir reveals that MALABAR was the leading exporter, accounting for 32% of the total quantity, followed by DIAMAZ with 21%, SAGA at 16%, AMAZONA at 19%, and MIABI at 9%. The MIABI comptoir… Read More Here

Diamond Economy Mining in DRC

DRC Diamond Exports Continue Strong Performance in Early 2024

December 28, 2024December 28, 2024 Constance

In the first quarter of 2024, the Democratic Republic of Congo (DRC) reported diamond exports totaling 1,970,188.55 carats, generating revenues of USD 17.96 million, according to the Technical Cell for Coordination and Mining Planning (CTCPM). This underscores the DRC’s sustained significance in the global diamond industry. The primary markets for Congolese diamonds remain Belgium and the United Arab Emirates, both of which play pivotal roles in the international diamond trade. Belgium, historically a key diamond trading hub, imported 890,005.74 carats, valued at USD 7.28 million. Of these exports, industrial diamonds… Read More Here

Mining in DRC Diamond Economy

DRC Diamond Exports Reach $18 Million in Q1 2024 Amid Production Decline

November 30, 2024November 30, 2024 Constance

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved diamond exports worth nearly $18 million, driven by the export of 1,970,188 carats. Despite the notable revenue, the sector faces challenges, including declining production and fluctuating market conditions. The Technical Cell for Coordination and Mining Planning reported diamond production of 931,876.98 carats in the same period. The DRC’s diamond industry continues to grapple with production variability, a trend that has raised concerns among stakeholders. Breakdown of Production by Segment: All production was exported to key markets, including… Read More Here

Diamond Mining in DRC

MIBA Faces Major Revival Challenges Amid Diamond Production Halt and Financial Struggles

November 12, 2024November 12, 2024 Constance

The situation at Société Minière de Bakwanga (MIBA), a major mining company in Kasaï-Oriental province, remains critical. According to the latest data from the Cellule Technique de Coordination et de Planification Minière (CTCPM) within the Congolese Ministry of Mines, MIBA did not produce any diamonds in the second quarter of 2024 (April to June). In stark contrast, Société Anhui Congo d’Investissement (Sacim), another diamond producer in the region, reported over 873,000 carats produced during the same period, accounting for nearly 98% of the region’s industrial output, according to the Ministry.… Read More Here

Diamond Artisanal mining Mining in DRC

DRC Diamond Production Sees 27% Growth in Early 2024 Driven by Artisanal Mining

November 8, 2024November 8, 2024 Constance

Diamond production in the Democratic Republic of Congo (DRC) remains primarily artisanal, according to recent provisional data from the Ministry of Mines’ Technical Unit for Coordination and Mining Planning (CTCPM). In the first half of 2024, artisanal mining operations produced 3,319,025 carats, accounting for nearly 68% of the country’s total diamond output. Kasaï-Oriental province reaffirmed its position as the leading artisanal diamond producer, contributing almost 99% of the sector’s production. Industrial mining also saw significant growth, yielding 1,544,190 carats, while semi-industrial mining contributed a modest 1,433 carats. In total, diamond… Read More Here

Diamond Artisanal mining Mining in DRC

DRC Authorities Close Kanshi Commune’s Artisanal Diamond Mine to Protect Resident Safety

October 27, 2024October 27, 2024 Constance

The artisanal and clandestine diamond mine in the Kanshi commune of Eastern Kasai was officially closed on Monday, October 21, 2024, to safeguard the lives of local residents, as stated in a report from the Council of Ministers. “The governor announced the permanent closure of the artisanal diamond mine in Kanshi and the establishment of enhanced surveillance measures to prevent further tragedies,” the report noted. This decision follows a series of fatalities linked to clandestine diamond mining activities, primarily conducted by young residents, which have resulted in significant loss of… Read More Here

Mining in DRC Diamond

DRC Reveals $70 Million Plan to Revitalize MIBA and Increase Diamond Production

August 26, 2024August 26, 2024 Constance

Last Friday in Kinshasa, Kizito Pakabomba, the National Minister of Mines, presented a $70 million plan to relaunch the Bakwanga Mining Company (MIBA) during the tenth Council of Ministers. The plan, which focuses on five key areas—certification of mining reserves, concession security, production-related investments, personnel costs, and monitoring-evaluation—aims to increase MIBA’s production capacity from 2026. The company, based in the Kasai region, is targeting an annual output of 2,438,484 carats, valued at $58.95 million in revenue from diamond extraction and marketing. To support this ambitious goal, the National Minister of… Read More Here