The mining sector activity is coming back to life as a number of operations are bringing back workers following a near two-month lockdown announced by government on the back of the outbreak of novel coronavirus. At a recent media briefing, Permanent Secretary in the Ministry of Minerals Resources, Green Technology and Energy Security, Mmetla Masire said most of the mines have roared back to production. However, only Debswana is still closed while in the downstream, Okavango Diamond Company (ODC) has employees working from home. “The diamond mining sector has started very well. Last week we saw a lot of the…
Author: Editor
De Beers Group said Sally Morrison has joined the Group’s Consumer and Brands division as Director of PR – Natural Diamonds. In her new role, which will be based in New York, Sally will focus on media, trade and designer outreach for natural diamonds, with a particular focus on the US market. Sally will hand over her responsibilities as Lightbox Jewelry’s Chief Marketing Office over the coming months, but will start work immediately in her new position. Stephen Lussier, Executive Vice President of Consumer and Brands, De Beers Group said: “Sally has a real passion for the jewellery industry, and…
Diamond trading was restricted in April due to the coronavirus pandemic and global lockdowns. Sentiment was weak, with dealers frustrated by the inability to resume business. The industry was focused on the Far East as China and Hong Kong started to open, while the outlook for the US remained uncertain. The RapNet Diamond Index (RAPI™) for 1-carat diamonds was basically flat for the month due to the low volume of trade. The index was down 8.5% since the beginning of the year. The diamond industry is trying to limit supply to support the market, with Indian manufacturers considering a one-month…
De Beers says it production guidance has been revised downwards in response to the coronavirus or COVID-19 which has affected global trade. In its production report for the first quarter of 2020, the diamond major noted that full year guidance is modified to between 25 and 27 million carats. “In response to the impact of COVID-19 on mining operations, wholesale trading activity and consumer traffic in key consumer markets, production guidance has been revised to 25-27 million carats (previously 32-34 million carats), subject to continuous review based on the disruptions related to COVID-19 as well as the timing and scale…
Diamond prices fell in March as the spreading coronavirus led to a dramatic decline in the global economy. Diamond markets are under pressure and facing a severe liquidity crisis as jewelry retail, diamond manufacturing and trading shut down. The RapNet Diamond Index (RAPI™) for 1-carat diamonds dropped 6.8% during the month and 8.7% in the first quarter. Prices slumped amid slowing demand and increasing supply. Manufacturers bought large volumes of rough between December and February, anticipating strong inventory replacement after a good US holiday season. De Beers’ rough sales exceeded $1.3 billion in those three months preceding the…
Botswana Diamonds (“BOD”), the AIM and BSE listed diamond explorer is pleased to announce that the Botswana Government has awarded six new Prospecting Licences PL 017 -18 of 2020 and PL 066 – 069 of 2020 to Sunland Minerals (Pty) Ltd (“Sunland”), a wholly-owned subsidiary of BOD. The licence tenure is for a period of three years until 31 March 2023. The licences cover an area of 4,319 square kilometres in the Central and Kgalagadi Districts, colloquially known as the Kalahari.Furthermore, the Botswana Government has renewed four existing Prospecting Licenses PL001 – 004 of 2017 to Sunland covering a total…
Following a digital meeting with all the Toyota 1000 kilometre Desert Race (TDR 1000) stakeholders on Thursday, 19 March the difficult decision to cancel the 2020 event in Botswana was made. The outbreak and spread of the COVID-19 coronavirus, has caused major disruption to societies with numerous events being cancelled or postponed worldwide. “First and foremost, our priority is the health and safety of fans, teams, and organisations, as well as the wider society,” said South African Cross Country Series (SACCS) CEO Archie Rutherford. “We apologise to those fans affected by the cancellation of the TDR 1000 as well as…
Econsult Botswana said it is forecasting a contraction in the contributions of both diamond mining and diamond sales to GDP in 2020, which will hence impact negatively on growth. This comes on the back of the coronavirus which is starting to have an impact on sectors like mining and tourism. In a Special Review for 2020, the research house warned that even before the outbreak of COVID-19 the country was already experiencing the effect of the global growth slowdown. The consulting organisation pointed out that diamonds account for the majority of the country’s exports, provide the largest single source of…
The Minister of Natural Resources, Conservation and Tourism, Philda N. Kereng on March 19, 2020 officially re-opened both Mombo and King’s Pool, Wilderness Safaris’ Premier camps situated in the heart of Botswana’s Okavango Delta and Linyanti Wildlife Reserve. The ceremonies served as official Ministerial launches, following both camps’ post-renovation openings in January 2018 and July 2019 respectively. The Minister visited the camps to better appreciate the Wilderness Safaris investment in Botswana, her people, her rich and pristine wilderness, and the communities that Wilderness Safaris is proud to call home. Kereng was joined by a small delegation from the Ministry of…
Gem Diamonds Limited has announced the result of the Letseng small diamond tender which closed in Antwerp on Thursday. The tender realised US$ 7.8 million which is 18% below the like for like prices reached at the last small diamond tender held in November last year before the Covid19 economic crisis. Due to the travel and other restrictions imposed by the Belgian government and the governments of the company’s clients, the Letseng large diamond tender, which commenced on 16 March and was due to have closed next week on 25 March, has been cancelled and, in its place, a flexible…