Kimberley Diamonds Ltd (KDL), the ASX listed mining company has conducted the first sale of diamonds from Lerala mine in Botswana at an auction in Antwerp. According to KDL, the sale was conducted by online auction platform operated by DDA Trading BVBA in the Belgian diamond city. A small parcel of gem and near gem quality diamonds, which were sourced predominantly from historic pre-2016 ROM stockpiles, was sent to Antwerp for the auction, and was available for viewing in Antwerp in the week prior to the auction. “The gem quality diamonds were sold at the auction at an average price…
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Rio Tinto said it paid $4.5 billion in taxes and royalties and spent almost $18 billion buying goods and services from suppliers around the world last year, according to its 2015 Taxes paid report. Rio Tinto chief financial officer, Chris Lynch said “Rio Tinto continues to provide a significant direct benefit to the governments and communities where we operate. The $4.5 billion we paid in taxes and royalties last year takes our total contribution to $47.3 billion since 2010.” Rio Tinto has had an average corporate income tax rate of 29.9 per cent globally on underlying earnings over the past…
Lucara Diamond Corp. says it is retaining its tennis-sized diamond it unearthed at Karowe diamond mine in Botswana after it failed to sell at a London auction. The 1,109 carat Type IIa Lesedi La Rona diamond was hoped could be sold for $70 million, but failed to meet the reserve at Sotheby’s. The highest bid according to reports was $61 million, which was $9 million short of the reserve. “….the Company will be retaining the exceptional 1,109 carat Type IIa Lesedi La Rona diamond as bidding did not meet the reserve price at the auction held this evening at…
DHL the global express delivery provider, has completed another landmark transportation project with the delivery of a black rhino from its birthplace in the Czech Republic to its natural homeland in Tanzania. Three-year-old female Eliska was moved to a natural park in Tanzania as part of an ongoing conservation project run by the George Adamson Wildlife Preservation Trust, aimed at helping endangered animal populations to grow and prosper in their natural habitat. “The delivery of Eliska to Tanzania continues a proud tradition at DHL Express of supporting international animal conservation efforts,” said Ken Allen, CEO, DHL Express. “We were very…
De Beers, the leading global diamond major said its sales were lower on its fifth sales cycle of 2016 held in Gaborone recently. The Anglo American diamond unit revealed that it sold $560 million worth of diamonds in Cycle—which was less than the actual $636 million recorded on Cycle 4 of the year. CEO of the group, Philippe Mellier said however that prices and demand remain stable. “Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns,” Mellier said. “Rough diamond demand and polished…
Rapaport Group says the exit of Britain from the European Union (EU) or Brexit will not have sustainable negative impact on polished diamond demand. Chairman of the group, Martin Rapaport said in statement to Mining & Travel Review that the EU has not been a dominant diamond consumption centre for many years. “While a negative wealth effect due to declining currencies and equity markets will reduce EU and British commercial demand, global investment demand for higher quality diamonds as a store of value will increase due to global economic and political uncertainty,” Rapaport said. The UK recently went for a…
BCL Mine, the trouble copper/nickel miner has decided to proceed to a Bankable Feasibility Study (BFS) with the view of applying for a mining licence to mine Maibele North initially as an open pit and to continue further exploration and drilling to evaluate the potential for underground mining. This was revealed by exploration partner Botswana Metals (BML) adding that subject to a favourable result from the BFS it is expected that mining could commence as early as 2017. “The JV aim is to complete the BFS and lodge a mining licence and EIA study by early 2017. Following a JV…
A huge diamond owned by Canadian mining company Lucara has been insured for $120m, according to sources in London, suggesting it will comfortably become the world’s priciest rock. Lucara recovered the 1,109-carat diamond, roughly the size of a tennis ball, from its Karowe mine in Botswana last year. It is due to be auctioned in London this month as the only item in a sale by Sotheby’s. The stone has been flown around the world since it was found in November on a tightly-guarded tour that was not announced until it was over, touching down in Hong Kong, Singapore, Dubai,…
Reigning Production Vehicle champions Leeroy Poulter and Rob Howie led the Toyota Gazoo Racing SA team to a stunning clean sweep of the podium places in heat two of the Toyota Kalahari Botswana 1000 Desert Race, round three of the Donaldson Cross Country Championship. Poulter and Howie led home Anthony Taylor/Dennis Murphy and Zimbabwean Conrad Rautenbach and German co-driver Dirk von Zitzewitz with all three in Toyota Hilux models running to FIA Class specifications. For Poulter and Howie, winners of the first heat, it was their fourth victory of the season and followed wins on the RFS Endurance and the…
JWANENG, Friday – Jimmy Zahos and Zaheer Bodhanya got their weekend off to the perfect start when they won the Special Vehicle qualifying race to determine start positions for the opening heat of the Toyota Kalahari Botswana 1000 Desert Race, round three of the Donaldson Cross Country Motor Racing Championship, which starts here tomorrow. Zahos and Bodhanya, in the Cobalt Racing Stryker, crossed the finish line with 83 seconds to spare over Australian Dave McShane and South African navigator Leander Pienaar in the Fox Racing BAT. Zahos and Bodhanya have a single victory in the Donaldson series to their names,…