Diamond - Copperbelt Katanga Mining

Lucara Diamond Corp. Finds 692.3-Carat Diamond at Karowe Mine

August 23, 2023August 23, 2023 Constance

Lucara Diamond Corp. has recovered a 692.3-carat diamond from its Karowe mine in Botswana, the second massive rough from the deposit this month. The white, type IIa stone came from the EM/PK(S) unit in the south lobe, known for its large, high-quality rough, Lucara said on Monday 21st of August. The miner found the diamond via its XRT unit, which uses X-ray technology to identify huge stones in large pieces of ore before they get broken up. The new discovery is the fourth diamond over 300 carats that Lucara has unearthed so… Read More Here

Divergent Policies in Zambia and Zimbabwe: Critical Minerals to Rescue?

July 31, 2023July 31, 2023 Constance

In late 2022, Lake Kariba, the world’s largest dam reservoir, experienced record-low water levels, leading Zimbabwe to halt electricity generation at the Kariba Dam’s South Power Station, while neighboring Zambia faced water rationing during an economic crisis. Both countries possess significant mineral reserves that could contribute to global energy transitions. However, they are grappling with climatological shifts that are destabilizing Southern African states, with floods, droughts, and cyclones becoming frequent and devastating events. The reliance on hydropower, which constitutes over 20 percent of the region’s energy mix, makes the impact… Read More Here

Mining in DRC Diamond Economy

DRC’s MIBA produces 16.6K carats of diamonds in Q1 2023

July 14, 2023July 14, 2023 Constance

The Bakwanga mining company (MIBA), a Congolese state holding company, produced only 16,664.12 carats of diamonds in the first three months of 2023. According to figures from the Ministry of Mines, the mining industry in the Democratic Republic of Congo (DRC) reached an estimated production volume of 2,035,090.71 carats of diamonds in the first quarter of 2023. The report indicates that 1,554,858.73 carats come from artisanal mining, i.e. 76.40% of total production;479,605.11 carats from industrial mining, i.e. 23.57%; and626.87 carats from the semi-industrial mining circuit, i.e. 0.03%. The document specifies that… Read More Here

Diamond International

De Beers renews diamond sales deal with Botswana

July 5, 2023July 5, 2023 Constance

Diamond producer De Beers Group and the Botswana Government have reached an agreement in principle on renewing their rough diamond sales agreement for another ten years through to 2033. This new agreement is expected to drive Debswana, the joint venture between De Beers and the Botswana Government, through long-term investment. The parties also agreed on a 25-year extension of Debswana mining licences until 2054. It will focus on four key areas, namely demonstration of industry leadership, Debswana’s future, economic diversification, and job creation in the country. As per the agreement,… Read More Here

Diamond International

Diamond auctions down 32% year-on-year

June 23, 2023June 23, 2023 Constance

Diamond auctions record a provisional figure of US$450 million for round 5 of its diamond auctions in 2023. This was announced yesterday June 22 by diamond producer De Beers. . A drop of about 32% year-on-year and 6% compared to the previous cycle, the second underperformance of the year after the decrease in revenue recorded during cycle 4. If the situation persists, it could significantly reduce the mining revenues of several African countries, including Botswana, where diamond mining occupies a central place in the economy. The other African countries concerned… Read More Here

International Diamond

Economist Warns: De Beers’ Departure Threatens Botswana’s Economy

June 19, 2023June 19, 2023 Constance

Economist and leader of the Alliance for Progressives (AP), Ndaba Gaolathe, has said that the talk of Botswana walking away from De Beers, if it were to happen, would put the Debswana mega expansion projects in jeopardy, thereby putting the economy of Botswana at risk of collapse. Gaolathe, who made a public statement last week, said that if Botswana were to part ways with its long-term partner without a plan in place, it would be a blunder of great proportions. “The profitability of mines is diminishing because mines are getting… Read More Here

Mining in DRC Diamond

DRC Generates Over $62.3 Million in Industrial Diamond Exploitation in 2022

June 14, 2023June 14, 2023 Constance

The industrial exploitation of diamonds in the Democratic Republic of Congo generated revenues of around 62.3 million US dollars for the 2022 financial year. This is what emerges from the annual report (2022) of the Technical Unit of Coordination and Mining Planning (CTCPM). Compared to the year 2021 when the export of industrially mined diamonds by companies had generated revenue of around USD 52 million, there is an increase in revenue of more than USD 10 million between the two periods. During the 2022 financial year, the SACIM company carried… Read More Here

Diamond Gemstones Mining in Zambia

Gemfields Achieves Record Revenue in High-Quality Emerald Auction

June 5, 2023June 5, 2023 Constance

Gemfields, a renowned supplier of precious gemstones, has revealed the astounding results of its recent emerald auction, featuring a selection of higher-quality rough emeralds. From 15 May to 1 June 2023, this auction achieved unprecedented success, setting new records and surpassing all expectations. The auction’s most remarkable achievement is the total auction revenues, which reached an all-time high of US$43.7 million. This extraordinary figure stands as a monumental record, representing the highest revenue ever attained in any Kagem emerald auction. Demonstrating the immense demand, all 35 lots offered were sold,… Read More Here

Mining in DRC Diamond Mining Policy

DRC Minister of Finance questioned on “blocking” of the disbursement of credits allocated to the revival of MIBA

June 5, 2023June 5, 2023 arnbethnic

Deputy Éric Ngalula Ilunga tabled, this Monday, May 29 at the office of the National Assembly, an oral question with debate addressed to Nicolas Kazadi, Minister of Finance on the “blocking” of the disbursement of credits allocated in the 2021 finance laws , 2022 and 2023 for the revival of the activities of the Minière de Bakwanga (MIBA). For this elected official, the revival of this company was also a campaign promise of the candidate President Félix Tshisekedi. It is inconceivable that the UDPS in power, this company is still languishing,… Read More Here

Mining in DRC Diamond

DRC Diamond Exports Reach $145.9M by End of 2022.

May 29, 2023May 29, 2023 Constance

Diamond exports from the Democratic Republic of Congo (DRC) generated more than $145.9 million throughout 2022. This is shown by the statistical data published by the Ministry of Mines. According to this 2022 annual report, diamond exports to the Democratic Republic of Congo amounted to 11,683,439.31 million carats. The same source informs that diamond production in the Democratic Republic of Congo remained dominated, during the period under analysis, by artisanal production with more than 7,353,996.44 million carats, generating a total amount of 83.7 million USD. Artisanal diamond mining exports by… Read More Here