Lucara Diamond has announced the results of a positive underground Feasibility Study (FS) to expand its 100% owned Karowe diamond mine, one of the world’s most prolific producers of large, high value type IIA diamonds and the only diamond mine in recorded history to have produced two +1000 carat diamonds. The underground expansion at Karowe is expected to double the mine life, and generate significant revenue and cashflow out to 2040, extending benefits to the Company, its employees, shareholders, communities surrounding the mine, and Botswana. Lucara president and CEO, Eira Thomas said the company is highly encouraged by the results…
Author: Editor
Diamond trading improved in late October after various Jewish, Indian and Chinese holidays. Dealers are focused on filling holiday orders as US jewelers prepare inventory for the season. Shortages are supporting prices of nonfluorescent RapSpec A3+ goods. Polished prices stabilised in October. The RapNet Diamond Index (RAPI™) for 1-carat diamonds was down 0.1%, having dropped 4.7% since the beginning of the year. Supply of better-quality diamonds has diminished since July as manufacturers reduced their polished production and rough purchases. India, which accounts for an estimated 90% of production, saw its rough imports fall 19% year on year to $3.11 billion in…
LI Yong, the Director General of the United Nations Industrial Development Organisation (UNIDO), and Dmitry Pristanskov, State Secretary — Vice President of PJSC Norilsk Nickel (Nornickel), signed a Joint Declaration to support environmentally-sound technologies in the metals industry. “It is a significant step forward in our partnership with UNIDO”, said Pristanskov. “We are looking into opportunities to work together on a broad range of projects aimed at the reduction of environmental impact of the metals and mining industry and ensuring sustainable development in the regions of our operations and beyond”. “We see a great potential in engaging with the private sector to maximize the capacities of partners to foster technology transfer and ensure an environmentally-friendly industrial development”, said Li. “We are confident that the Joint Declaration will bring positive…
Survival International, the global movement for tribal peoples, is delighted to announce the winning entries of its 2020 calendar photo competition, in the organisation’s 50th anniversary year. The winning image by Mattia Passarini is a stunning portrait of a Tibetan girl holding a lamb. The winning entries give an insight into the incredible diversity and unique ways of life of tribal and indigenous peoples around the world. The photographs feature, among others, the work of Aboriginal photographer Wayne Quilliam, Uru Eu Wau Wau tribesmen on patrol in the Amazon, and a Tuvinian shaman from Russia. Four of the winning photographers are…
De Beers Group Auctions has appointed Alastair Bickerstaff as the Head of Product Development and Sales. The new role, which was created following the departure of the Head of Sales and CRM, is an amalgamation of two instrumental elements of the business – Product Development and Sales. As the Head of Product Development and Sales, Alastair’s aim is to develop more synergy between the two functions and better address our customers ‘product needs. “The products we sell and how we sell them are intrinsically linked. Both must complement each other without exception,” says Alastair. “Only when industry-leading products are sold through…
Gem Diamonds Limited says the mining lease for its Letšeng mine has been renewed by the Government of the Kingdom of Lesotho. According to the company, following a successful statutory negotiation process, the terms of the renewed mining lease were agreed with the Lesotho Mining Board and include the following material terms; the lease is renewed with immediate effect for a period of 10 years ( the maximum period allowed under the 2005 Mines and Minerals Act – the Act ) with an exclusive right granted to Letšeng to renew the mining lease for a further period of 10 years;…
On the second anniversary of becoming a HeForShe Thematic Champion and partnering with UN Women, De Beers Group has announced that more than 700 women micro-entrepreneurs in Namibia and South Africa have successfully completed their training. The Accelerating Women Owned Micro-Enterprises (AWOME) programme has also recently launched in Botswana, creating even more opportunities for women micro-entrepreneurs to participate. Part of De Beers Group’s partnership with UN Women, the AWOME programme is tailored to provide women micro-entrepreneurs with the skills required to grow their businesses. Using a ‘train the trainer’ approach, local community members were selected and trained in mentoring, networks,…
Revenue per available room (RevPAR), the key hotel industry performance metric, has grown for 87 consecutive months amid a period of low supply growth and strong demand, according to STR director Thomas Emanuel in his presentation at the Africa Hotel Investment Forum (AHIF). Using a 12-month moving average and U.S. dollar constant currency to remove the impact of currency fluctuations, Africa’s RevPAR was up 6.4% to US$67.10 as of August 2019. Average daily rate (ADR), up 3.3%, has had more of an impact on that growth than occupancy (+2.9). “Africa has shown one of the better supply and demand balances on a global…
Botswana Diamonds said, together with its associate Vutomi (BOD interest 40%), have signed a contract mining and processing agreement with Eurafrican Diamond Corporation (EDC) to mine and process the diamond-bearing gravels and residual stockpiles on a portion of the Marsfontein farm. The agreement gives EDC a contract for the mining and processing of the identified deposits on the Marsfontein Mining Permit, with 25% of the pre-tax revenue from larger or high value “Special Stones” (any stones weighing 10.8 carats or more or valued at more than $8,000 per carat) and 15% from the standard “Run of Mine”) stones accruing to…
Major Moves Comedy is back with yet another rib cracking lineup for their monthly events this October. The First Friday Comedy event which has been religiously happening every first Friday of the month will be back for the eighth showdown this year. The audience will be treated to too much hilarity and great silliness from a variety of comics who will take to the stage at Masa Square Hotel on Friday the 4 th of October. The comedy show that has resident host Onkgopotse ‘Mdala Ka Tjeludo’ Mugende will feature a fresh lineup of Bonginkosi ‘Dr Shakes’ Dlamini from Swaziland,…