Diamond - Copperbelt Katanga Mining

The ounce of gold hits a record high of US $ 1,930.48 on Monday July 27

August 1, 2020August 2, 2020 arnbethnic

Several exchanges announce that an ounce of gold reached the bar of 1,930.48 USD on Monday July 27th on the market, thus beating the historic level of September 2011 when the yellow metal was trading at 1,921.18 USD. One ounce of gold corresponds to a weight of 31.103 g of gold. It takes precisely 32.15 ounces of gold to get one kilogram of gold. And so at a price of $ 1,930.48 per ounce of gold, 1 Kg of gold is going to be worth around $ 62,064. For many observers, gold remains… Read More Here

Diamond Exploration

Russia’s Alrosa kicks off diamond exploration in Zimbabwe

July 22, 2020July 22, 2020 arnbethnic

Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output, has begun prospecting and preliminary exploration works for deposits in Zimbabwe through it’sjoint venture with the Zimbabwe Consolidated Diamond Company (ZCDC). The move is a welcome boost to the southern African nation’s attempts to expand diamond mining revenues. Zimbabwe first began allowing foreign companies to dig up precious stones in 2018, opening the door to private investors. Mines minister Winston Chitando said at the time that his office was considering letting foreigners hold majority stakes in local operations on the condition that… Read More Here

Diamond Global markets

Lucara sales deal to keep cash flow from large stones coming for 2020

July 18, 2020July 18, 2020 arnbethnic

Lucara Diamond has found an avenue to sell its large diamond production from its Karowe mine in Botswana, through an agreement with HB Group, an Antwerp-based diamond manufacturer. The deal will ensure the company will see cash flow this year from a category of diamonds that normally accounts for 70% of its revenue. The diamond market has been severely disrupted by the covid-19 pandemic, which has restricted travel required to buy and sell diamonds, depressed prices, and impeded cash flow to miners. The agreement will apply to Lucara’s full-year production of… Read More Here

Diamond Mining in DRC

KPCSC calls on DRC to formalise diamond craft sector to combat illicit trade

July 12, 2020July 12, 2020 arnbethnic

In its report published last June, the Kimberley Process Civil Society Coalition (KPCSC) calls on seven African countries, including the Democratic Republic of Congo (DRC), to formalize the diamond craft sector, with a view to combating the illicit diamond trade and preventing abuses by local communities. The report states that the advent of Covid-19 and containment measures have had a negative impact that has led to a reduction in the production and number of workers in mining companies in particular, in the 28 (twenty-eight) diamond mining areas in 9 (nine)… Read More Here

Diamond Mining in DRC

MIBA seeks government payment of $10 million relief to boost production | DRC

June 26, 2020June 26, 2020 arnbethnic

Bakwanga Mining (MIBA), a Congolese industrial diamond and jewellery company, is seeking financial support from the government of around TEN million U.S. dollars to restart production. A delegation from this company, led by its new Director-General, Paulin Lukusa, met on Thursday (June 25th) with Deputy Finance Minister Junior Mata on the issue. The CEO of MIBA stated that the production of this state enterprise is asphyxiated and that the payment of this support will relieve its cash flow which faces several charges. “MIBA is bankrupt. Workers are hit by… Read More Here

Diamond Mining in DRC

Jean Claude Muyambo Kyassa warns of “repeated fund diversions within the Gecamines”

May 14, 2020May 14, 2020 arnbethnic

Jean Claude Muyambo Kyassa, national president of the Congolese Solidarity for Development and Democracy (SCODE) warned on Monday (April 27, 2020) about cases of repeated diversion within the Gecamines, a public company based in the Katanga region. He accuses Albert Yuma, chairman of the Gécamines Board of Directors, of embezzling US$260 million. “There’s diversion to The Gécamines. We want to know where the money from this company is going. Panda and Shituru’s releases to Likasi brought in $300 million, according to the World Bank. The assessment had already been made.… Read More Here

Diamond

Lucapa finds 171-carat diamond at Angola mine

May 14, 2020May 14, 2020 arnbethnic

Australia’s Lucapa Diamond (ASX:LOM) has recovered a 171 carat gem-quality stone from its prolific Lulo mine in Angola, which was restarted in early May. The miner said the white diamond is the 15th 100-plus carat it has recovered to date from Lulo and the second 100-plus carat precious rock found in 2020. IT WAS RECOVERED FROM MINING BLOCK SIX, WHERE FIVE OTHER 100-PLUS CARAT DIAMONDS HAD BEEN PREVIOUSLY UNEARTHED The diamond was recovered from mining block six, where five other 100-plus carat diamonds had been previously unearthed. Mining blocks six and eight have now produced 13 of… Read More Here

Mining in DRC Diamond International

Russia, Congo, Botswana hold 80% of global diamond reserves

May 13, 2020May 13, 2020 Copperbelt Katanga News

Diamonds reserves in Russia, Congo and Botswana combined account for at least 80.6% of the world’s total, estimated at about 1.1 billion million carats, a report released on Wednesday shows. According to data gathered by London-based Learnbonds.com, Russia has the largest reserves at 650 million diamond carats, representing about 52% of the global capacity. Congo comes in second with 150 million carats or 13% of the world’s total, the report shows, while Botswana takes the third place, with diamond reserves totalling 90 million carats. South Africa and Australia also account… Read More Here

Mining in DRC Diamond Gold

Mining Companies in the DRC

May 4, 2020May 4, 2020 arnbethnic

With an estimated USD 24 trillion in untapped mineral deposits of cobalt, diamonds, gold, copper, and other minerals, the DRC is a key mining destination, with a large number of mining companies actively operating across the country. Mining companies in the Democratic Republic of Congo include both large, international mining houses and Artisanal and Small-Scale Mining companies (ASM). DRC’s active mining companies: • African Metals Corp • Amani Gold • AngloGold Ashanti • ARC Minerals Ltd • Armadale Capital Plc • AVZ Minerals Limited • Banro Corporation •… Read More Here

Diamond

Lucapa Diamond restarts Lulo mine in Angola

May 2, 2020May 2, 2020 arnbethnic

Australia’s Lucapa Diamond (ASX:LOM) is restarting operations at its Lulo mine in Angola on a two-shift, six-day week basis, with 50% of its workforce. Mining at Lulo has been halted since April 1, following Angola’s declaration of a State of Emergency to contain the spread of covid-19. The diamond producer noted the plan is to be ready to ramp up to full- scale operations once restrictions are completely lifted. MINING AT LULO HAS BEEN HALTED SINCE APRIL 1, FOLLOWING ANGOLA’S DECLARATION OF A STATE OF EMERGENCY TO CONTAIN THE SPREAD OF COVID-19… Read More Here