Diamond - Copperbelt Katanga Mining

MIBA recovery plan valued at USD 453 million, the DRC Portfolio Minister promises her involvement 1

The Bakwanga mining company (MIBA) held a workshop in Kinshasa on Friday, January 6th to discuss its recovery plan. MIBA has been facing serious difficulties for the past two decades, with production coming to a halt in November 2008 and only resuming at a low level in 2011. The recovery plan, estimated at 453 million USD, is set to be implemented over the course of five years, and includes an investment plan of 161 million USD that will be carried out over three years. According to the participants of the… Read More Here

Diamond Mining in DRC

MIBA’s Appalling collapse in diamond production, from 10 million carats in 1990 to around 40,000 carats in 2020

January 9, 2023January 9, 2023 Johannsen

The Bakwanga mining company (MIBA), formerly a cornerstone of the Congolese economy, has seen a dramatic decline in production. In 1990, MIBA produced 9,556,436 carats, but by 2020, this number had fallen to just 38,788 carats. Additionally, the number of carats sold fell from 9,650,480 in 1990 to only 14,471 in 2020. This has led to a decrease in revenues from USD 102,573,220 in 1990 to just USD 480,000 in 2020. MIBA is also facing other challenges, including a steadily declining diamond turnover that made up only 3.94% of the… Read More Here

Diamond Production Soar This Year, 16.6 Million Carats Produced In 11 Months-DRC

December 28, 2022December 28, 2022 Constance

The diamond operation claims an estimated production of 16.685 million carats of diamonds in the first 11 months of 2022, according to figures from the Central Bank of Congo. While for the whole of 2021, the Democratic Republic of the Congo had produced 13.222 million carats of diamonds, it is clearly observed that diamond production is on the rise this year. Read More Here

International Diamond

Diamond auction sales increased by 20% in 2022

December 26, 2022December 26, 2022 arnbethnic

According to the preliminary results of the last of the ten rough diamond auction sessions it organizes each year, the mining company De Beers says that for the tenth stage, the subsidiary of the British mining holding company Anglo American sold for 410 million USD of gemstones against 336 million USD at the same period in 2021. “Demand for our rough diamonds during the last sales cycle of 2022 was in line with expectations, ahead of the normal seasonal closure of polishing factories in southern Africa over the Christmas period,”… Read More Here

Diamond Mining in DRC

DRC produced over 16.6 million carats of diamonds by November 2022

December 12, 2022December 14, 2022 arnbethnic

The Democratic Republic of Congo (DRC) produced 16,685 million carats of diamonds from January 1 to November 30, 2022. These data were published by the Central Bank of Congo (BCC) in its summary of statistical information for the month of November 2022. According to this document from the BCC, the production of diamonds in 2022 is increasing sharply during this year. In 11 months of the current year, the industrial sector of the Democratic Republic of Congo produced only 6.964 million carats of diamonds against 4.065 million carats last year.… Read More Here

Mining in DRC Diamond

MIBA’s Global Recovery Plan cost the DRC Government USD 161 million

November 6, 2022November 6, 2022 arnbethnic

The DRC government has exercised the option of no longer injecting money sporadically into MIBA, taking into account recent experiences where funds poured into this company from the state portfolio have yielded nothing. For the Sama Lukonde Government, it is rather necessary to implement a global MIBA recovery plan estimated at more than 161 million USD. “As regards the relaunch of MIBA, I myself immersed myself in the dilapidated state of its production tool during my last stay in Mbuji-Mayi. The Government’s vision for this company, as for other public companies in… Read More Here

Diamond Mining in DRC

DRC: 12,923 carats of diamonds produced at the end of August 2022

October 28, 2022October 28, 2022 admin

The mining industry in the Democratic Republic of Congo (DRC) produced around 12,923 carats of diamonds in the first eight months of 2022. These statistical data are provided by the Central Bank of Congo (BCC) in its Summary of statistical information published in October 2022. According to this report, diamond production during this year is down compared to the year 2021 when production stood at 35,727 carats. Artisanal diamond production in the DRC continues to take over industrial production with a production volume of around 7,322 carats in August 2022… Read More Here

Diamond

Higher-grade ore boosts De Beers diamond output

October 28, 2022October 28, 2022 admin

De Beers, the world’s top diamond producer by value, saw production of roughs climb 4% to 9.6 million carats in the third quarter of the year, compared to the same period of 2021. The Anglo American unit said the production increase was the results of treatment of higher-grade ore at its Orapa mine, in Botswana, and at its South Africa operations. Strong production growth in Namibia also contributed to the output. Production in Botswana rose 4% to 6.6 million carats, driven mostly by the treatment of higher-grade ore at Orapa. The growth was partly offset by… Read More Here

Diamond International

Zimbabwe’s RioZim buys Namibian diamond mine to expand in Africa

October 10, 2022October 10, 2022 admin

RioZim has bought Sperrgebiet Diamond Mine in Namibia as the Zimbabwean group seeks to expand in Africa. “The group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part of the strategy,” Tawanda Andrew Chiurayi, RioZim’s group company secretary, said in a written response to questions from Bloomberg News. “We also want to diversify our assets and geographies.” Chiurayi declined to disclose the amount RioZim paid for the mine. The acquisition cost $58-million, people familiar with the matter said, asking not to be named as the price hasn’t… Read More Here

Diamond

De Beers’ eighth sales cycle generates $500m

October 5, 2022October 5, 2022 admin

Diamond miner De Beers sold $500-million of rough diamonds during its eighth sales cycle of this year. This compares with the $492-million of rough diamonds sold in the eighth sales cycle of 2021. “Demand for our rough diamonds during sales cycle eight was in line with expectations in what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays. “The steady overall demand for De Beers Group’s rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday… Read More Here