Petra Tender 5 FY2022 Yields US$ 86.1 million

Petra Diamonds announced the results of their Tender cycle 5 of fiscal year 2022. They sold 635,806 carats for a total of US$86.1 million. Prices decreased by 23.7% compared to Tender 4 (March 2022) but were up 3.2% on Tender 3 (December 2021).

The tender included a 13.74 ct blue Exceptional Stone for the Cullinan mine. The stone was sold into a partnership with Stargems for US$ 5.7 million, with Petra retaining a 50% interest in the profits.

Mining and ExplorationMarket Analysis

Tongo Diamond Mine Production Headed to Antwerp

Australian diamond exploration and development company Newfield announced they signed an exclusive diamond sales and marketing agreement with the Bonas Group. Newfield’s flagship asset is the Tongo Mine Development in eastern Sierra Leone. 

Through this partnership, Newfield will be able to fully authenticate the source of the Tongo diamonds sold, via the Sarine Technologies traceability program used by Bonas. Buyers and retailers of those goods will therefore have full traceability of the diamonds’ origin.

Mining and Exploration

De Beers Returns to Angola, Inks Deal with Endiama

Iconic diamond miner De Beers this week now officially returns to Angola, as the Anglo American diamond mining division signed two mineral investment deals with the State's mining entity Endiama, giving the miner exploration rights for 35 years in the Northeast of the country. Each exploration concession will have a separate joint venture, with the majority of shares held by De Beers, with an option for Endiama to increase it's share.

Mining and Exploration

Botswana Wants More Out of De Beers Deal, modeled after Lucara - HB Antwerp

Africa Intelligence reports that Botswana’s President Masisi, speaking at a gala dinner hosted by Lucara Diamonds, is adding pressure to the negotiations with De Beers on a renewed Debswana contract, the 50/50 joint venture between the government and De Beers. In the current agreement, 75 % of Debswana’s rough is sold via De Beers, 25% is sold via the state-owned Okavango Diamond Company, the latter achieving record sales revenue via its sales in Antwerp last year.

Mining and ExplorationRough MarketPolitics

De Beers and Namibian Government Launch Diamond Recovery Vessel

Mining company De Beers and the government of Namibia officially unveiled a new diamond recovery vessel: ‘Benguela Gem’. The vessel will commence operations from next week.

Mining and Exploration

Mountain Province Inks Deal with Chow Tai Fook, Record Sales in Antwerp

Mountain Province, holding a 49% stake in the Canadian Gahcho Kué mine, reports its latest Antwerp sales, with proceeds amounting to US$41.4m for 322,547ct, achieved a record ROM price of US$126/ct, up another 13% compared to the first sale of the year.

The company also announces a supply agreement with Chow Tai Fook, multinational jewelry retailer with presence in China, Japan, Korea, Southeast Asia and the US, providing the retailer with a select range of diamonds over a one-year, renewable term.

Rough MarketMining and ExplorationRetail and Consumer Confidence

Predicted Supply Squeeze Arrived?

According to Richard Duffy, CEO of mining company Petra Diamonds, the long-predicted supply squeeze is being reflected over all diamond categories. This would mark a structural change in the diamond market, with increasing prices creating a robust and supportive market.

Duffy points out the current strong demand pull into an inventory pipeline where inventories are largely depleted. With a very low ability of suppliers to provide inventory, this will result in higher demand than supply and thus increase prices over the entire value chain.

Mining and ExplorationMarket Analysis

Lucara Announces Retirement Of Chairman

Mining company Lucara announced that Lukas Lundin, current Chair and a Director of the company, will retire from the Board upon the completion of his term at the company’s upcoming 2022 Annual Meeting of Shareholders.

Mining and Exploration

Vast Resources Pulls Out Ghaghoo Deal

Vast Resources PLC, the London-listed Mining and Resource Development company that partnered last summer with Botswana Diamonds in a joint venture (Okwa Diamonds) aiming to buy Gem Diamonds' mothballed Ghaghoo mine in Botswana for US$4m, has announced it is pulling out of the deal, without further comment.

Mining and Exploration

Mountain Province 2021 Results Meet Expectations, Strong Antwerp Sales in Q4

Results from Mountain Province Diamonds on Q4 and the full year (2021) reveal the miner, operating the Gahcho Kué mine in the Northwest Territories are in line with production guidance (1% below) while preliminary cost per tonne was down slightly. The miner sold 808,739 cts for US$65,7m in Q4 in Antwerp, at an impressive average of US$83/ct, well above the US$65/ct achieved in the same period in 2020.

Rough MarketMining and Exploration

Botswana Diamond’s Thorny River (RSA) Preliminary Assessment Encouraging

Botswana Diamonds announced the preliminary kimberlite assessment on the Thorny River prospect in South Africa is encouraging, with projected volume of kimberlite in the area exceeding previous estimates, to ca. 2m tonnes. The company is now investigating mining options, and has yet to make an assessment on potential diamond grade. John Teeling, chairman, commented: "The estimated kimberlite volume in the River area is considerably better than expected. Botswana Diamonds will now determine the mining potential.  Let me put this in context.

Mining and Exploration

Alrosa Optimistic About Mir Restoration and Additional Reserves

Rough & Polished reports, based on a local TV interview with CEO Sergei Ivanov, that the company is optimistic about restoration of the Mir diamond mine, and is in the final stage of a feasibility study which will determine the course of action, to be decided by a review committee in H1 of 2022.

Mining and ExplorationRough Market

Rio Tinto Appoints First Female President For Diavik Mine

Australian mining company Rio Tinto announced they appointed Angela Bigg as president and chief operating officer of the Diavik diamond mine. She will be the first female to lead the mine and its 1,100 employees. She joined the Diavik team in November 2017 as vice president, Finance. Angela Bigg will succeed Richard Storrie, who left the company after 26 years.

Mining and ExplorationRough Market

De Beers and Botswana Extend Sales Agreement

De Beers Group announced they extended their existing sales agreement with the Government of the Republic of Botswana for the sale of Debswana’s rough diamond production until the end of June 2022.

The agreement was due to expire at the end of 2020 but was already extended for a year because of continuing logistical challenges due to Covid-19. This second extension period will provide both parties with some extra time to complete discussions about the renewal of the contract after the good progress made in 2021.

Mining and ExplorationRough Market

Petra and Government of Tanzania Reach Agreement Regarding Williamson Mine

Petra Diamonds announced it reached an agreement in principle with the Government of Tanzania regarding the operations of the Williamson Mine. With this agreement, Petra Diamonds aims to establish a sustainable future for the joint venture between Petra and the Government, held through Tanzanian company Williamson Diamonds Limited.

To align with the country’s new mining legislation, Petra Diamonds will reduce its stake from 75% to 63%, with Tanzania’s stake increasing from 25% to 37%.

Mining and Exploration

Lucapa Finalizes Acquisition Merlin Project in Australia

Lucapa Diamond Company, already operating mines in Angola (Lulo) and Lesotho (Mothae) has finalized the acquisition of the Northern Territory (Australia) Merlin Diamond Project through its subsidiary Australian Natural Diamonds.

Mining and ExplorationRough Market

Rio Tinto Sole Owner of Diavik Mine

Rio Tinto announced it became the sole owner of the Diavik Diamond Mine in Canada. The company owned and operated 60% of the mine - as the other 40% was owned by Dominion Diamond Mines - but now a transaction has been completed for Rio Tinto’s acquisition of the share held by Dominion.

Mining and Exploration

First Petra Williamson Tender Post Restart In Antwerp

Petra Diamonds Limited announced the first tender of rough diamonds from the Williamson mine in Tanzania, post the restart of operations, will take place in Antwerp from Friday 19 to Friday 26 November 2021.

A parcel of ca. 26,000 carats is available for sale and includes a 32.32 carat pink stone of exceptional colour and clarity.

Appointments to participate in the tender can be made by contacting Greg Stephenson, Group Head of Sales and Marketing,  +27 836 379 849, diamondsales@petradiamonds.com.

Rough MarketMining and Exploration

Angola To Host International Diamond Conference Nov 25-27

Angola's Minister of Mineral Resources, Petroleum and Gas (MIREMPET), Diamantino Azevedo, has announced it will organize its first International Diamond Conference (AIDC) in the recently inaugurated Saurimo Diamond Development Hub, where a wide variety of industry related activities, including local polishing factories are settling in.

Mining and ExplorationPoliticsRough Market

Angola & Rio Tinto Sign Massive Deal

The Angolan Ministry of Mines, Minister Azevedo, has announced it has finally signed a deal with Rio Tinto, after months of negotiations, for the exploration of the 108 square km Chiri (kimberlite) diamond concession in the Lunda Norte region of the country. In the initial phase, Rio Tinto Angola has a 75% stake, Endiama a 25% stake, in addition to the establishment of a joint venture.

Mining and ExplorationRough Market

Strong Rough Market Boosts Mountain Province Q3 Results

Announcing its Q3 Antwerp sales results, Mountain Province Diamonds, operating as 49% partner with De Beers in the Gahcho Kué mine in the NWT (Canada) sees the strong prices of the first half of the year continue in Q3 with 1,028,327cts sold for a value of US$74.1m or avg US$72/ct. Year-to-date results amounting to 2,349,644ct or nearly US$170m in sales revenue.

Rough MarketMining and Exploration

WDC Marks Day of Peace with Updated & Expanded System of Warranties Launch

The World Diamond Council, the body representing the diamond industry from miners to retailers within the Kimberley Process (KP) today launched the implementation phase of the updated System of Warranties (SoW), an industry self-regulation system set up nearly two decades ago which requires buyers and sellers of diamonds to include a warranty statement on all invoices and memo’s.

SustainabilityMining and ExplorationRough MarketPolished

Zero Emission and CO2 Absorbing Rocks: Miners Up The Sustainability Game

This week, Russian diamond mining giant Alrosa announced that the first initial tests by local scientists and company experts on how kimberlite waste ore – what’s left of the super hard rock in which rough diamonds are found once the diamonds are recovered – can be used to absorb carbon dioxide, showed promising results, potentially even compensating the 997k tonnes of CO2 emissions generated by the entire company in a full year. The company aims to further reduce its footprint by shifting from fuel-powered to renewable energy throughout its operations.

Mining and ExplorationSustainability

Stellar Performances for Lucapa and Petra

Lucapa Diamond and Petra Diamonds both released performance updates with record revenues. For Lucapa, revenue from Mothae (Lesotho, sold via Antwerp) and Lulo (Angola) was up nearly 300% to US$27m total in H1. Petra Diamonds 2021FY revenue, marketing its goods via Antwerp, was up 65% to US$402m, with the highest contribution from exceptional diamond sales in the history of the company.

Mining and ExplorationRough Market

Meya Mining (SL) Partners with Antwerp-based Samir Gems & Taché Company

Meya Mining (Meya), owner of a large, 129 square km kimberlite-rich concession in the eastern region of Sierra Leone, has announced a financial and commercial partnership deal with Antwerp-based Samir Gems and Taché Company. In 2017, just 7 days after commissioning its plant, the miner recovered a 476 carat diamond called the Meya Prosperity.

Mining and ExplorationRough MarketManufacturing

HB Antwerp Innovation Lab Kicks Off in Botswana

HB Antwerp has kicked off its Innovation Lab in Botswana, welcoming 30 graduates in the field of Engineering and Technology, with a special focus on creating diversity and gender parity in the diamond industry, engaging young women through a collaboration with pan-African incubator WomHub. HB Antwerp’s Botswana program intends to allow the participants to develop industry-specific knowledge but also helping them finetune their talents such as leadership and intrapreneurial skills.

Mining and ExplorationSustainability

Angola President Lourenço Inaugurates Saurimo Diamond Development Hub

In the presence of the representatives of several diamond producing, trading and manufacturing hubs, including Belgian Ambassador Jozef Smets, Angolan President Lourenço last week officially opened the Saurimo Diamond Development hub, aimed at reinforcing development and employment in Angola’s diamond-rich Lunda Sul province. The large Diamond Hub site already hosts three diamond manufacturing plants and will be completed with other diamond related services and training centers, as well as banks, restaurants, shops, convention centers and residential areas.

PoliticsMining and ExplorationRough MarketManufacturing

Botswana Diamonds and Vast Resources JV Plans to Revive Ghaghoo Mine

Botswana Diamonds PLC and Vast Resources PLC have announced a joint venture (Okwa Diamonds) has acquired – pending regulatory approval – Gem Diamonds’ mothballed Gaghoo diamond mine, a 10.8ha mining area in central Botswana, fo US$4m. James Campbell, MD at Botswana Diamonds commented: “Working with our joint venture partner VAST, we have completed thorough due diligence on Ghaghoo.

Mining and Exploration

A New Chapter For Diamond Mining in Australia?

While to outsiders it may have seemed the closure of Rio Tinto’s Argyle mine marked the end of diamond mining in Australia, recent developments show signs of an unexpected revival. Earlier this year, Australian-based miner Lucapa, currently operating mines in Angola and Lesotho, acquired the Merlin mine, which hasn’t produced any diamonds since 2003. Lucapa hopes to restart the mine within two years.

Mining and ExplorationRough Market

Rio Tinto Diamond Returns to Profit H1 2021

According to Rapaport, Rio Tinto Diamonds, operating the Argyle mine in Australia, the mine that was closed in November last year, and the Diavik mine in Canada, made US$5m profit in the first 6 months of the year. The company recovered 3.1m ct from Diavik - up 2% - and sales, operated by the Antwerp division of Rio Tinto Diamonds, were up 13% to US$160m.

Mining and ExplorationRough Market

Mining Operations Resume in ALROSA's Zarnitsa Mine

Operations have resumed at Alrosa's Zarnitsa open-pit mine, which the Russian miner had suspended since May 2020 amid the challenging market environment caused by the COVID-19 pandemic. In March 2021, when the demand for rough diamonds had stabilized, ALROSA decided to recommence mining at the deposit from 1 July.

Mining and Exploration

Third Time's a Charm for Firestone Botswana Operation

Firestone Diamonds announced it had entered a binding share sales agreement for its Botswana operations. Botswana-owned Visionary Victor Resources will acquire the BK11 mine, as well as Firestone’s 90% interest in its local subsidiary, Monak Ventures, for US$50,000.

Firestone Diamonds has been trying to offload their Botswana asset for nearly six years, as the project has been on care and maintenance since 2012. At that time, the mine plan estimated it still had 1.2 million carats in reserves.

Mining and Exploration

World's Third-Largest Diamond Discovered by Debswana

Debswana, the joint venture between the Botswana government and Anglo American’s De Beers unit, announced the recovery of a 1,098-carat diamond. Initial analysis suggests the rough stone could be the world’s third-largest gem-quality diamond ever to be recovered after the 3,100-carat "Cullinan Diamond", was discovered in South Africa in 1905, and the 1,109-carat "Lesedi la Rona", was found in 2015, in the Karowe mine in Botswana.

Mining and Exploration

New Lucara Giant (470 ct) Going to Antwerp

Lucara Diamonds announced the recovery of a 470 carat top light brown clivage diamond from its Karowe Mine in Botswana. This recovery headlines a series of top-quality gem and clivage quality diamond recoveries during a recent production run, including 5 other diamonds of 265ct, 183ct, 161ct, 116ct and 106ct, and 13 diamonds between 50 and 100 carats.

Rough MarketMining and Exploration

Lucapa Acquires Australian-Based Merlin Diamonds

In their latest update, Australia-based miner Lucapa Diamond Company has struck a deal to buy the Northern Territory's Merlin diamond mine for US$17.8 million, which they intend to fund with private and public sales of its shares.

Mining and Exploration

Lucapa Recovers 138 Carat Diamond at Lulo

Lucapa announced it had recovered another large stone, 138-carat diamond, from Mining Block 46 (MB46) in the Lulo alluvial mine in Angola. The diamond is the seventh +100 carat diamond recovered in 2021 so far and the 24th +100 carat stone recovered at Lulo since exploration and mining operations began.

Mining and Exploration

Gem Diamonds Unearths 370 Carat Diamond from Letšeng Mine

Gem Diamonds announced the recovery of a white, Type II, 370-carat diamond from the Letšeng mine located in Lesotho. Letšeng is known for producing large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. This announcement comes a week after the recovery of a 254 carat Type II, white diamond from the same mine.

Mining and Exploration

Gem Diamonds Recovers Exceptional 245 Carat Diamond

Gem Diamonds announced the recovery of a 254 carat Type II, white diamond, from the Letšeng mine located in Lesotho. Letšeng is known for its production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Mining and Exploration

Debswana to Invest Billions in Underground Mine

Debswana, the joint venture between the Botswana government and Anglo American’s De Beers unit, intends to invest US$6 billion to build the world’s largest underground diamond mine at Botswana’s Jwaneng. The mine is already considered the richest mine by value for the precious stones. The underground mine will have more than 360 km of tunnel development and is expected to hit full production by 2034, Debswana’s head of transformation and innovation, Thabo Balopi, said at a briefing in the capital, Gaborone, last Friday.

Mining and Exploration

Tanzania Assumes Chair of African Diamonds Producers Association

Last week Tanzania assumed the chairmanship of the African Diamond Producers Association (ADPA) from Namibia. The minerals minister Dotto Biteko accepted the chairmanship on behalf of the country, saying that in their term as leader, "Tanzania will make sure that it improves ADPA systems so as it can bring positive benefits to member states just as intended."

Mining and Exploration

Lucapa Recovers 23rd +100 Carat Diamond at Lulo

Lucapa has announced it has recovered another large stone, 144 carat Type IIa D-colour diamond, from Mining Block 08 (MB08). The diamond is the sixth +100 carat diamond recovered in 2021 so far and the 23rd +100 carat stone recovered at Lulo since exploration and mining operations began.

Mining and Exploration

Big, Beautiful and Blue: Petra Recovers 39.34ct Exceptional Diamond

Petra Diamonds has recovered a 39.34 carat Type IIb blue diamond of exceptional quality in terms of both its colour and clarity at the Cullinan mine in South Africa. The Company anticipates that the diamond will be sold via a special tender.

Mining and ExplorationRough Market

Lucapa: New Large Diamond Recoveries Confirm Potential Lulo (Angola)

Lucapa announced the recovery of an additional three +100ct and two +50ct diamonds, now totalling six rough diamonds over 100ct discovered in the last three months alone at Mining Block 46 or one +100ct for every 20k cubic meters of gravel. These statistics and recoveries support the potential of the adjacent Canguige catchment and kimberlites close to the Lulo alluvial mine. 

Mining and ExplorationRough Market

AGD Diamonds (GRIB) Recovers 72.94ct Rough

AGD Diamonds, the Russian miner that sells its goods via Antwerp-based GRIB Diamonds, announces the recovery of a large, 72.94ct rough diamond from its Grib diamond field, continuing the trend of 2020, a year in which 7 50ct+ stones were brought to surface. On a more global level, in recent years more and more large rough diamonds are found, thanks to technological developments in mining processes.

Mining and Exploration

Lucapa’s Mothae Diamonds Fetch US$5.9m in 2nd Antwerp Sale

Lucapa announced a parcel of selected Mothae stones including a 213ct white diamond and 11ct pink, was prepared, analyzed and sold successfully in Antwerp for US$1,050/ct or a total of US$5.9m to the miner’s purchasing partner. The sale was conducted under the partnership agreement with the Kingdom of Lesotho, maximizing revenue for the country through a share in the final sales outcome of the (selected) stones from the parcel, once they are polished in Antwerp. 

Mining and ExplorationRough Market

Lucara Financing for Karowe Underground Expansion On Track

Lucara Diamond Corp announces five leading international financial institutions, including ING Bank NV, Natixis, Société Générale London Branch, Africa Finance Corporation and Afreximbank, are mandating +US$200m senior debt facilities for the underground expansion of the company's 100% owned Karowe mine in Botswana, extending the mine's lifespan until at least 2040, expected to generate over US$4bn in revenues. Total capital cost for the expansion is estimated at US$514m over a period of five years.

Mining and Exploration

Lucapa Mothae Production Expansion (+45%) Project Completed

Lucapa announces its Mothae expansion project, the re-commissioning of the upgraded processing plant, was completed successfully, expanding processing capacity at the Lesotho kimberlite mine by 45%, to 1.6 million tonnes per annum starting Q2 2021. Lucapa's Mothae production is sold via tender in Antwerp, alongside partnerships with manufacturing companies in accordance with the marketing agreement the company made with the Government of Lesotho, to maximize on the added value generated by the cutting and polishing and final sales of its precious resources.

Mining and ExplorationRough Market

Angola's Path to Sustainable Diamond Industry Takes Shape

A recent clip from Euronews spotlights Angola's efforts to build a transparent and sustainable diamond industry, part of President Lourenço's reform agenda, at the development site of Saurimo, Lunda Sul. 

Mining and Exploration

ALROSA’s Q4 2020 Softens Pandemic Year Losses

Alrosa, the Russian diamond mining giant reports that despite a strong Q4 2020, with especially strong sales volumes of smaller diamonds, total revenue for the year fell 7% to US$3bn, output fell 22% to 30m cts and net profit dropped 49% to US$440m, a direct impact from lower sales, as the miner upheld maximum flexibility throughout the pandemic, to avoid stockpiling, as well as a weaker rouble.

Mining and ExplorationRough Market

Lucapa Recovers 3rd 100+ct At Lulo MB46 Block

Lucapa has announced it has recovered another large stone; a 114ct top white diamond, the 19th +100ct recovered at Lulo, and the third 100+ct rough from the MB46 block, close to the Canguige catchment and priority kimberlites. The frequency of the recovery of three large, high quality stones in barely 8 weeks underscores the potential of the Cacuilo valley and Canguige catchment area. Recently the 16km haul road from the Canguige catchment was finished and Lucapa says it will start bulk sampling the priority kimberlites as soon as the wet season is over.

Mining and Exploration

Lucara Demonstrates Strength: Strong Q4 and 2020 Operational Results

In a release detailing its operational results for the COVID year 2020 and the last quarter of that year, Lucara clearly demonstrates its strengths, recording a strong performance despite the pandemic. Total revenue (regular tenders, Clara plus the HB  and Louis Vuitton agreement) amounted to US$125.3m, compared to US$192.5m y-o-y, a remarkably strong performance considering the impact of the COVID-19 pandemic. A strong Q4, with revenue of US$42.4m at an avg US$402/ct marked a global recovery on the rough market, a trend which is continuing in 2021.

Mining and ExplorationRough Market

Petra Diamonds: When the Going Gets Tough, The Rough Gets Going

A lovely springtime sun is warming up the Antwerp diamond square mile, boosting temperatures from snowy below zero barely a week ago to a pleasant 15°Celcius. The weather is echoing the sentiment on the market and at Petra Diamonds, as both have emerged from tough times probably stronger than before.

Since the outbreak of the pandemic in March last year, Petra Diamonds was one of the first to shift gears as the world was paralyzed. The Johannesburg sales were put on hold and the miner started focusing its sales on Antwerp, where operations continued despite global lockdowns.

In-depthMining and ExplorationRough Market

Alrosa January Sales Net US$430m

Alrosa's January sales of rough (US$421m) and polished (US$9m) continue on the trend of Q4 2020 with record sales in December. The January figures were up 6% y-o-y, driven by strong demand in China and the US and lower inventory levels in the midstream. The Russian miner increased prices 6-7% in its latest cycle, but continues to allow buyers to defer purchases. 

Rough MarketMining and Exploration

Dominion Ekati Sale to Arctic Canadian Diamond C° Finalized

In conclusion of a months-long saga, Dominion Diamonds Mines has finalized the sale of the Ekati Diamond mine and associated assets to Arctic Canadian Diamond Company LTD, a new company formed and owned by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC, CBC Canada reports.  Operations were fully resumed in January, after a restart in November last year, and all workers are expected to return to work later this month.

Mining and ExplorationRough Market

Bluerock Sells All Through Bonas Tender in Antwerp

BlueRock Diamonds announced the sale of a 14.8-carat diamond, recovered in December 2020, for USD167,000 (USD11,300 per carat) in its first tender since the start of the pandemic. During the same tender, they sold an 8.7 carat diamond for USD37,000 (USD4,300 per carat).

Mining and Exploration

Gem Diamonds Ends Pandemic Year Cum Laude

In its latest trade update, Gem Diamonds, the mining company that operates the high value diamond Letšeng mine in Lesotho, presented a remarkably good report considering the impact of the pandemic on the global diamond industry.

Rough MarketMining and Exploration

Lucara finds 378ct Rough, 2nd 300+ct in Just Weeks

Exploration Resumes At Angola's Promising Luaxe Deposit

Rough & Polished reports Angola's authorities have greenlighted the further exploration of the Luaxe concession, located roughly 20km from the Catoca mine, jointly operated by the Angolan governement and Russian miner Alrosa, consisting of one of the most promising deposits discovered in over a decade worldwide. Experts believe the concession has a potential reserve of 350m cts, and estimated annual production of 10m ct, which would effectively double the country's annual output and thus also generate significant aded value in terms of state revenue.

Mining and Exploration

Anjin Re-emerges in Zimbabwe in "Unclear Circumstances"

According to Zimbabwe Independent, Anjin Investments, has regained control of a diamond claim in Marange (Portal B), "in unclear circumstances", the news outlet claims in an extensive article. Anjin had to shut operations back in 2015 as the Mugabe administration forced the closure of seven mining companies and the subsequent merger of their assets into the Zimbabwe Consolidated Diamond Company (ZCDC).

Rough MarketMining and Exploration

Lucapa: Solid Q4 & Positive Outlook Soften COVID-Blow

Lucapa reports strong Q4 results at its Lulo operations in Angola (volume of carats mined was up 55%, grades were up 47%, amount of carats sold was down 48% (4,269ct) but prices were up 31% y-o-y.

Mining and ExplorationRough Market