Category: Diamond

Lucapa Diamond and partners Endiama and Rosas & Petalas announced on Monday an increase in the Lulo diamond mine reserve in Angola by 25% to 100,700 carats. The miner said the total was more than five times Lulo’s 19,000 carat production in 2019, the fifth consecutive year of commercial alluvial land production. The estimate also assumes that the average dollar per carat value for Lulo diamonds is $ 1,620, an increase of 14% over the previously modeled estimate of $ 1,420 per carat. Total Lulo diamond sales to date have… Read More Here

Just when the diamond market was beginning to show signs of recovery, De Beers, the world’s largest producer by value, revealed that the outbreak of the Covid-19 coronavirus had affected its sale of roughs in February, which dropped by 36% from January. The company sold $355 million of rough diamonds in the second cycle of the year compared with $551 million for the first cycle of the year, as it deferred allocations due to the virus impact on Chinese focused customers. The figure was 28% lower than sales in the same… Read More Here

  Angola sold just over 9.44 million carats of diamonds last year and earned $ 1.299 billion, Angola’s National Diamond Commercialization Company (Empress Nacional de Comercialização de Angola) – better known as Sodiam – reported. This corresponds to an increase in production compared to the previous year by 12.3% and sales by 6.2%. At the presentation of these figures in Luanda, the Angolan State Secretary for Geology and Mining, Jânio Correia Victor, described them as “satisfactory results”. He explained the smaller increase in sales compared to the increase in production… Read More Here

  Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current ten-year deal that expired in January. The government wants to see more gems cut and polished within the borders of the world’s second-biggest  diamond producer, creating jobs and boosting the state coffers, according to  Lefoko Moagi, the minister of mineral resources, green technology and energy security. An agreement is crucial for both parties. Botswana accounts for more than two-thirds of De Beers’ production, while the country relies… Read More Here

In preparation for its initial public offering in 2022 , which will involve a 30% stake in the company , Angola’s state-owned miner Endiama  is looking for partners “with financial and technical abilities” to increase the country’s diamond production. this was  According to an interview  by José Manuel Ganga Junior, head of the Endiama group that controls diamond mining concessions in Angola, to the Financial Times. In his comments, Ganga Junior said that Angola wants to move up from its spot as the world’s seventh-biggest diamond producer to reach the… Read More Here