World’s third largest diamond discovered in Botswana

                       1,098 carat rough diamond

The diamond firm Debswana has announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world.

The company’s acting managing director, Lynette Armstrong, presented the stone, which was found on 1 June, to the country’s president, Mokgweetsi Masisi, on Wednesday.

It is the third largest in the world, behind the 3,106-carat Cullinan found in South Africa in 1905 and the 1,109-carat Lesedi La Rona discovered in Botswana in 2015.

“This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation,” Armstrong said.

“From our preliminary analysis it could be the world’s third largest gem-quality stone. We are yet to make a decision on whether to sell it through the De Beers channel or through the state owned Okavango Diamond Company.”

The “rare and extraordinary stone … means so much in the context of diamonds and Botswana,” she said. “It brings hope to a nation that is struggling.”

The minerals minister, Lefoko Moagi, said the discovery of the stone, which is yet to be named but measures 73 by 52 by 27mm, could not have come at a better time after the Covid-19 pandemic hit diamond sales in 2020.

Debswana is a joint venture between Anglo American’s De Beers and the Botswanan government, which receives as much as 80% of the income from sales through dividends, royalties and taxes.

Production at Debswana fell by 29% in 2020 to 16.6m carats and sales fell by 30% to $2.1bn as the pandemic affected production and demand.

Debswana plans to increase output by as much as 38% to pre-pandemic levels of 23m carats in 2021 as the global diamond market recovers with the easing of travel restrictions and reopening of jewellers.

Source: DCLA

World’s third largest diamond discovered in Botswana

                       1,098 carat rough diamond

The diamond firm Debswana has announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world.

The company’s acting managing director, Lynette Armstrong, presented the stone, which was found on 1 June, to the country’s president, Mokgweetsi Masisi, on Wednesday.

It is the third largest in the world, behind the 3,106-carat Cullinan found in South Africa in 1905 and the 1,109-carat Lesedi La Rona discovered in Botswana in 2015.

“This is the largest diamond to be recovered by Debswana in its history of over 50 years in operation,” Armstrong said.

“From our preliminary analysis it could be the world’s third largest gem-quality stone. We are yet to make a decision on whether to sell it through the De Beers channel or through the state owned Okavango Diamond Company.”

The “rare and extraordinary stone … means so much in the context of diamonds and Botswana,” she said. “It brings hope to a nation that is struggling.”

The minerals minister, Lefoko Moagi, said the discovery of the stone, which is yet to be named but measures 73 by 52 by 27mm, could not have come at a better time after the Covid-19 pandemic hit diamond sales in 2020.

Debswana is a joint venture between Anglo American’s De Beers and the Botswanan government, which receives as much as 80% of the income from sales through dividends, royalties and taxes.

Production at Debswana fell by 29% in 2020 to 16.6m carats and sales fell by 30% to $2.1bn as the pandemic affected production and demand.

Debswana plans to increase output by as much as 38% to pre-pandemic levels of 23m carats in 2021 as the global diamond market recovers with the easing of travel restrictions and reopening of jewellers.

Source: DCLA

Lucara Recovers 470 Carat Diamond from the Karowe Mine in Botswana

    470 carat diamond recovered from the                    Karowe Mine in Botswana

Lucara Diamond Corp. is pleased to announce the recovery of a 470 carat top light
brown clivage diamond from its 100% owned Karowe Diamond Mine located in Botswana.

The diamond, measuring 49x42x26mm, was recovered from direct milling of ore sourced from the EM/PK(S) unit of the
South Lobe. The 470 carat recovery forms a notable contribution to a series of top quality gem and clivage quality
diamond recoveries during a recent production run, including an additional 5 diamonds greater than 100 carats
(265ct, 183ct, 161ct, 116ct, 106ct) and 13 diamonds between 50 and 100 carats in weight.

The May production run, dominated by EM/PK(S) ore, produced diamonds greater than 10.8 carat in weight accounting for 12.7% weight percent of total production, exceeding resource expectations. Continued strong resource performance and recovery of large diamonds reinforces the significance of the EM/PK(S) as an important economic driver for the proposed underground mine at Karowe.

The 470 carat diamond was recovered in the Coarse XRT circuit and represents the third +300 carat diamond
recovered to date in 2021. Year to date, Karowe has produced 10 diamonds greater than 100 carats including 6
diamonds greater than 200 carats, including the 341 carat (link to press release) and 378 carat (link to press release)
top white diamonds recovered in January 2021.

Source: DCLA

Lucara Recovers 470 Carat Diamond from the Karowe Mine in Botswana

    470 carat diamond recovered from the                    Karowe Mine in Botswana

Lucara Diamond Corp. is pleased to announce the recovery of a 470 carat top light
brown clivage diamond from its 100% owned Karowe Diamond Mine located in Botswana.

The diamond, measuring 49x42x26mm, was recovered from direct milling of ore sourced from the EM/PK(S) unit of the
South Lobe. The 470 carat recovery forms a notable contribution to a series of top quality gem and clivage quality
diamond recoveries during a recent production run, including an additional 5 diamonds greater than 100 carats
(265ct, 183ct, 161ct, 116ct, 106ct) and 13 diamonds between 50 and 100 carats in weight.

The May production run, dominated by EM/PK(S) ore, produced diamonds greater than 10.8 carat in weight accounting for 12.7% weight percent of total production, exceeding resource expectations. Continued strong resource performance and recovery of large diamonds reinforces the significance of the EM/PK(S) as an important economic driver for the proposed underground mine at Karowe.

The 470 carat diamond was recovered in the Coarse XRT circuit and represents the third +300 carat diamond
recovered to date in 2021. Year to date, Karowe has produced 10 diamonds greater than 100 carats including 6
diamonds greater than 200 carats, including the 341 carat (link to press release) and 378 carat (link to press release)
top white diamonds recovered in January 2021.

Source: DCLA

Lucara Secures $220M in Financing to Take Mine Underground

                              Karowe Mine in Botswana 

Lucara Diamond Corp. said it has secured $220 million in financing to help take the Karowe Mine in Botswana underground and extend its life by about 20 years.

Karowe is responsible for producing some of the most significant diamonds recovered in recent years, including the 1,109-carat “Lesedi La Rona,” which Graff bought for $53 million, and a 1,758-carat diamond that Louis Vuitton is turning into jewelry.

The credit-approved senior debt facilities include two tranches: $170 million to go toward the development of the underground mine and $50 million to support the ongoing operation of the open pit.

The underground expansion has an estimated capital cost of $514 million and is expected to take five years. The balance of development capital for the project is expected to come from cash flow from the mine’s ongoing open-pit operations.

In a statement announcing the financing, Lucara President and CEO Eira Thomas called securing the financing “an important achievement for Lucara and a strong endorsement of our underground expansion plans.”
She said the loans will supplement the cash flow from the open-pit portion of Karowe for the next five years and will extend the life of the mine from 2025 to at least 2040.

The five lenders on the $220 million financing facility for Lucara are: ING Bank N.V., Natixis, the London branch of Societe Generale, Africa Finance Corp., and Afreximbank. Thomas described them as having “significant mining and metals track records and experience in Africa.”

Closing on the facilities is subject to completion of definitive documentation and the satisfaction of certain terms and conditions, including Know Your Customer (KYC) checks.

The target closing date for the financing package is mid-2021, with financing expected to be in place by the second half of the year.

Lucara made the financing announcement the day before it released its first-quarter 2021 results.

Revenues totaled $53.1 million, or $579 per carat sold, for the miner in Q1. Net income was $3.4 million.

That is a significant improvement over Q1 2020, when the onset of the pandemic limited sales to $34.1 million and caused Lucara to record a loss of $3.2 million.

First-quarter 2021 results also are up when compared with 2019, when Lucara reported revenues of $48.7 million, or $512 per carat sold. Net income for the latter, however, was higher at $7.4 million.

The company said overall, the diamond market started 2021 in its healthiest position in five years following strong holiday seasons in the United States and China, and careful rough supply management by producers, which has helped to recalibrate polished inventories.

Source: DCLA

Lucara Secures $220M in Financing to Take Mine Underground

                              Karowe Mine in Botswana 

Lucara Diamond Corp. said it has secured $220 million in financing to help take the Karowe Mine in Botswana underground and extend its life by about 20 years.

Karowe is responsible for producing some of the most significant diamonds recovered in recent years, including the 1,109-carat “Lesedi La Rona,” which Graff bought for $53 million, and a 1,758-carat diamond that Louis Vuitton is turning into jewelry.

The credit-approved senior debt facilities include two tranches: $170 million to go toward the development of the underground mine and $50 million to support the ongoing operation of the open pit.

The underground expansion has an estimated capital cost of $514 million and is expected to take five years. The balance of development capital for the project is expected to come from cash flow from the mine’s ongoing open-pit operations.

In a statement announcing the financing, Lucara President and CEO Eira Thomas called securing the financing “an important achievement for Lucara and a strong endorsement of our underground expansion plans.”
She said the loans will supplement the cash flow from the open-pit portion of Karowe for the next five years and will extend the life of the mine from 2025 to at least 2040.

The five lenders on the $220 million financing facility for Lucara are: ING Bank N.V., Natixis, the London branch of Societe Generale, Africa Finance Corp., and Afreximbank. Thomas described them as having “significant mining and metals track records and experience in Africa.”

Closing on the facilities is subject to completion of definitive documentation and the satisfaction of certain terms and conditions, including Know Your Customer (KYC) checks.

The target closing date for the financing package is mid-2021, with financing expected to be in place by the second half of the year.

Lucara made the financing announcement the day before it released its first-quarter 2021 results.

Revenues totaled $53.1 million, or $579 per carat sold, for the miner in Q1. Net income was $3.4 million.

That is a significant improvement over Q1 2020, when the onset of the pandemic limited sales to $34.1 million and caused Lucara to record a loss of $3.2 million.

First-quarter 2021 results also are up when compared with 2019, when Lucara reported revenues of $48.7 million, or $512 per carat sold. Net income for the latter, however, was higher at $7.4 million.

The company said overall, the diamond market started 2021 in its healthiest position in five years following strong holiday seasons in the United States and China, and careful rough supply management by producers, which has helped to recalibrate polished inventories.

Source: DCLA

Botswana Diamonds shares good news from Thorny River

Botswana Diamonds has announced that eleven diamonds and abundant kimberlitic indicators were recovered from drill samples at the recently discovered River Kimberlite pipe at Thorny River in South Africa.

John Teeling, Chairman, commented:

“The recovery of so many kimberlitic indicators and in particular diamonds, which are very rare to recover in small sample narrow reverse circulation drill holes is highly encouraging and bodes well for the potential commerciality of this exciting discovery”.

Following a detailed ground geophysical programme in October 2020, 6, six-inch percussion reverse circulation holes were drilled into the newly discovered River Kimberlite pipe.

A combined total of 39.5 m intersected kimberlite while an additional 55 m intersected a weathered kimberlite breccia.

Samples from these holes were taken at one metre intervals and twenty of these totalling about 500 kg were selected and submitted to an independent processing facility for assessment through screening, dense media separation and hand sorting.

11 Diamonds, 172 G10 pyrope garnets, 623 G9 pyrope garnets, 555 eclogitic garnets, 438 chromites and 268 chromium diopsides (clinopyroxene) were recovered at sizes between -1.0+0.3mm.

Recoveries of a specific mineral species were capped at 20 grains and thus this picture is a snapshot of the overall sample indicator content. Importantly, all the samples contained abundant kimberlitic indicators.

The diamonds are all notably of good colour and clarity and are of commercial quality and in high demand by the market. The diamonds were not weighed as the sample size was small and they are not representative of a possible population.

Pyrope garnets are common in peridotite xenoliths from kimberlite pipes, some of which are diamond-bearing. Pyrope found in association with diamond commonly has a Chromium Oxide content of three to eight percent which imparts a distinctive violet to deep purple colouration.

These are called G10 and G9 pyrope garnets. Eclogites typically result from high to ultrahigh pressure metamorphism of mafic rocks at low thermal gradients as they were subducted to the upper mantle in a subduction zone.

Garnets found in eclogitic xenoliths tend to have a deep orange colour. Diamonds in kimberlite come from both peridotitic and eclogitic xenoliths so the abundance of both types of garnet in this sample is noteworthy and this is supported by the recovery of diamonds from a relatively small drill sample.

Of significance too is that these diamonds are all of good colour and clarity. The next step is a detailed core drilling programme which is planned for the dry season.

Source: DCLA

Botswana Diamonds shares good news from Thorny River

Botswana Diamonds has announced that eleven diamonds and abundant kimberlitic indicators were recovered from drill samples at the recently discovered River Kimberlite pipe at Thorny River in South Africa.

John Teeling, Chairman, commented:

“The recovery of so many kimberlitic indicators and in particular diamonds, which are very rare to recover in small sample narrow reverse circulation drill holes is highly encouraging and bodes well for the potential commerciality of this exciting discovery”.

Following a detailed ground geophysical programme in October 2020, 6, six-inch percussion reverse circulation holes were drilled into the newly discovered River Kimberlite pipe.

A combined total of 39.5 m intersected kimberlite while an additional 55 m intersected a weathered kimberlite breccia.

Samples from these holes were taken at one metre intervals and twenty of these totalling about 500 kg were selected and submitted to an independent processing facility for assessment through screening, dense media separation and hand sorting.

11 Diamonds, 172 G10 pyrope garnets, 623 G9 pyrope garnets, 555 eclogitic garnets, 438 chromites and 268 chromium diopsides (clinopyroxene) were recovered at sizes between -1.0+0.3mm.

Recoveries of a specific mineral species were capped at 20 grains and thus this picture is a snapshot of the overall sample indicator content. Importantly, all the samples contained abundant kimberlitic indicators.

The diamonds are all notably of good colour and clarity and are of commercial quality and in high demand by the market. The diamonds were not weighed as the sample size was small and they are not representative of a possible population.

Pyrope garnets are common in peridotite xenoliths from kimberlite pipes, some of which are diamond-bearing. Pyrope found in association with diamond commonly has a Chromium Oxide content of three to eight percent which imparts a distinctive violet to deep purple colouration.

These are called G10 and G9 pyrope garnets. Eclogites typically result from high to ultrahigh pressure metamorphism of mafic rocks at low thermal gradients as they were subducted to the upper mantle in a subduction zone.

Garnets found in eclogitic xenoliths tend to have a deep orange colour. Diamonds in kimberlite come from both peridotitic and eclogitic xenoliths so the abundance of both types of garnet in this sample is noteworthy and this is supported by the recovery of diamonds from a relatively small drill sample.

Of significance too is that these diamonds are all of good colour and clarity. The next step is a detailed core drilling programme which is planned for the dry season.

Source: DCLA

Lucara recovers 341 carat white diamond

 

Canada’s Lucara Diamond has found an unbroken 341-carat white gem-quality rock at its prolific Karowe mine in Botswana, with analysts estimating it could fetch more than $10 million.

The Vancouver based miner said the diamond was recovered over the Christmas period from milling of ore coming from the south western quadrant of Karowe’s South Lobe.

The diamond is the 54th stone over 200 carats recovered at Karowe since it began commercial operations in 2012.

The find builds on previous historic recoveries which include the 342-carat Queen of the Kalahari, the 549 carat Sethunya, the 1,109 carat Lesedi La Rona found in 2015, and the 1758 carat Sewelô, recovered in 2019.

Beyond Sewelô, the only larger diamond ever unearthed is the 3,106 carat Cullinan Diamond, discovered in South Africa in 1905. The Cullinan was later cut into smaller stones, some of which now form part of British royal family’s crown jewels.

Source: DCLA

Lucara recovers 341 carat white diamond

 

Canada’s Lucara Diamond has found an unbroken 341-carat white gem-quality rock at its prolific Karowe mine in Botswana, with analysts estimating it could fetch more than $10 million.

The Vancouver based miner said the diamond was recovered over the Christmas period from milling of ore coming from the south western quadrant of Karowe’s South Lobe.

The diamond is the 54th stone over 200 carats recovered at Karowe since it began commercial operations in 2012.

The find builds on previous historic recoveries which include the 342-carat Queen of the Kalahari, the 549 carat Sethunya, the 1,109 carat Lesedi La Rona found in 2015, and the 1758 carat Sewelô, recovered in 2019.

Beyond Sewelô, the only larger diamond ever unearthed is the 3,106 carat Cullinan Diamond, discovered in South Africa in 1905. The Cullinan was later cut into smaller stones, some of which now form part of British royal family’s crown jewels.

Source: DCLA

Botswana Diamonds acquires Sekaka from embattled Petra

 

Botswana Diamonds (LON:BOD) said on Monday it had completed the acquisition of Sekaka, the exploration vehicle that belonged to embattled rival Petra Diamonds (LON:PDL) and which held three prospecting licenses in the country’s Central Kalahari Game Reserve.

In one of its licenses, Sekaka had singled out the KX36 kimberlite pipe, which is situated about 70 km from Gem Diamonds’ Ghaghoo mine, and 260 km north-west of Botswana’s capital Gaborone.

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Sekaka also had a recently built, fit-for-purpose bulk sampling plant on-site that includes crushing, scrubbing, dense media separation circuits and X-ray recovery modules within a secured area.

The acquisition includes an extensive database, built up over 15 years of exploration.

Botswana Diamonds believes the information contained in the database will provide substantial support to its future kimberlite exploration activities in the mining-dependent country, the world’s second-largest diamond producer.

“We are delighted that this acquisition has now closed. This paves the way to explore commercial development options for KX36 and begin to evaluate the extensive database in conjunction with ours to discover more kimberlites in prime diamond real estate,” chairperson John Teeling said in a media statement.

Diamond exports from the southern African nation dropped 42% to $1.49 billion in the first nine months of this year as production fell 29% to 12.3 million carats due to covid-related restrictions.

Botswana’s mining sector provides a fifth of the country’s GDP and 80% of its foreign exchange earnings.

Mounting woes
Petra Diamonds, the former owner of Sekaka, has been struggling for over two years. Its weak financial position pushed it to shed non-core assets and put itself up for sale in June.

The company reversed the decision in October, opting instead for a debt-for-equity restructuring. The deal would leave existing shareholders with just 9% of the company.

Petra is also dealing with allegations of human rights abuses at its Williamson mine in Tanzania, resulting from the actions of its security guards.

It recently reported a 36% fall in revenue and a net loss of $223 million (168.7 million pounds) for the year ended June 30, as the coronavirus pandemic deepened the company’s financial woes.

Source: DCLA

Botswana Diamonds acquires Sekaka from embattled Petra

 

Botswana Diamonds (LON:BOD) said on Monday it had completed the acquisition of Sekaka, the exploration vehicle that belonged to embattled rival Petra Diamonds (LON:PDL) and which held three prospecting licenses in the country’s Central Kalahari Game Reserve.

In one of its licenses, Sekaka had singled out the KX36 kimberlite pipe, which is situated about 70 km from Gem Diamonds’ Ghaghoo mine, and 260 km north-west of Botswana’s capital Gaborone.

SIGN UP FOR THE PRECIOUS METALS DIGEST
Sekaka also had a recently built, fit-for-purpose bulk sampling plant on-site that includes crushing, scrubbing, dense media separation circuits and X-ray recovery modules within a secured area.

The acquisition includes an extensive database, built up over 15 years of exploration.

Botswana Diamonds believes the information contained in the database will provide substantial support to its future kimberlite exploration activities in the mining-dependent country, the world’s second-largest diamond producer.

“We are delighted that this acquisition has now closed. This paves the way to explore commercial development options for KX36 and begin to evaluate the extensive database in conjunction with ours to discover more kimberlites in prime diamond real estate,” chairperson John Teeling said in a media statement.

Diamond exports from the southern African nation dropped 42% to $1.49 billion in the first nine months of this year as production fell 29% to 12.3 million carats due to covid-related restrictions.

Botswana’s mining sector provides a fifth of the country’s GDP and 80% of its foreign exchange earnings.

Mounting woes
Petra Diamonds, the former owner of Sekaka, has been struggling for over two years. Its weak financial position pushed it to shed non-core assets and put itself up for sale in June.

The company reversed the decision in October, opting instead for a debt-for-equity restructuring. The deal would leave existing shareholders with just 9% of the company.

Petra is also dealing with allegations of human rights abuses at its Williamson mine in Tanzania, resulting from the actions of its security guards.

It recently reported a 36% fall in revenue and a net loss of $223 million (168.7 million pounds) for the year ended June 30, as the coronavirus pandemic deepened the company’s financial woes.

Source: DCLA

Petra Diamonds sells Botswana exploration assets

Petra Diamonds (PDL.L) has agreed to sell its Botswanan exploration assets to Botswana Diamonds (BODP.L) for $300,000 and a 5% royalty on future revenue, the diamond miner, which is in the process of restructuring, said on Monday.

The purchase price will be payable in two equal instalments on or before August 31, 2021 and August 31, 2022, Petra said. Botswana Diamonds has the option to buy out the royalty for $2 million in cash.

Petra’s subsidiary Sekaka Diamonds Exploration (Pty) Limited, which Botswana Diamonds would take over, holds three prospecting licences including the KX36 project, which has an indicated resource of 17.9 million tonnes at 35 carats per hundred tonnes.

Botswana Diamonds managing director James Campbell said KX36 would be the company’s most advanced project in southern Africa, and Sekaka’s exploration database would also be “hugely complementary” to its current activities.

Petra, which has been planning to sell Sekaka since June 2018, said the deal is separate to the sales process it announced last month as part of its restructuring.

“The first tranche of the purchase consideration is not expected to be received until August 2021, making the sale too long-dated to help with Petra’s immediate cash flow challenges,” said BMO analyst Edward Sterck.

The sale still requires approval from the Botswana Competition Commission, ministerial consent in Botswana, and approval from Petra’s lenders and debtholders.

Campbell said he hopes the deal will be sealed by August 31.

Source: DCLA

Petra Diamonds sells Botswana exploration assets

Petra Diamonds (PDL.L) has agreed to sell its Botswanan exploration assets to Botswana Diamonds (BODP.L) for $300,000 and a 5% royalty on future revenue, the diamond miner, which is in the process of restructuring, said on Monday.

The purchase price will be payable in two equal instalments on or before August 31, 2021 and August 31, 2022, Petra said. Botswana Diamonds has the option to buy out the royalty for $2 million in cash.

Petra’s subsidiary Sekaka Diamonds Exploration (Pty) Limited, which Botswana Diamonds would take over, holds three prospecting licences including the KX36 project, which has an indicated resource of 17.9 million tonnes at 35 carats per hundred tonnes.

Botswana Diamonds managing director James Campbell said KX36 would be the company’s most advanced project in southern Africa, and Sekaka’s exploration database would also be “hugely complementary” to its current activities.

Petra, which has been planning to sell Sekaka since June 2018, said the deal is separate to the sales process it announced last month as part of its restructuring.

“The first tranche of the purchase consideration is not expected to be received until August 2021, making the sale too long-dated to help with Petra’s immediate cash flow challenges,” said BMO analyst Edward Sterck.

The sale still requires approval from the Botswana Competition Commission, ministerial consent in Botswana, and approval from Petra’s lenders and debtholders.

Campbell said he hopes the deal will be sealed by August 31.

Source: DCLA

Botswana Diamonds recovers over 100 macro diamonds

Botswana Diamonds PLC announced that it has concluded the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa.  The samples comprised 58-tons of fresh high-interest kimberlite and 62-tons of kimberlitic material from one of the residual stockpiles, known as ‘Dump E’.

Highlights:

• 87 macro diamonds were recovered from the fresh kimberlite giving a modelled grade of 50 cpht. (carats per hundred tons)
• 24 macro diamonds were recovered from Dump E giving a modelled grade of 16 cpht.

Grades are quoted at a +1.5 mm screen bottom size cut off

James Campbell, Managing Director, commented: “This bulk sampling campaign, which was carried out with the company’s royalty mining contractor Eurafrican Diamond Corporation, had two objectives. The first was to test the grade of the fresh kimberlite and the second was to confirm the grades of one of the mine dumps. Both were achieved, and proof of the fresh kimberlite grade paves the way for further exploration work on Marsfontein to target potential blows.

“The kimberlite grade is aligned with those achieved at Klipspringer mine and Thorny River, which are both nearby, indicating the considerable extent of the kimberlite dyke system. Options will be investigated on exploitation of the dumps once the nationwide lock down in South Africa is lifted and a sense of normality returns to diamond markets, post the global Covid-19 pandemic crisis.”

Results of the bulk sampling program, including modelled results are illustrated in the table below:

Source	Sample Size (tons)	No of stones	Carats	Raw Grade (cpht) +1.7mm BCOS	Average stone size cts	Largest stone cts	Modelled Grade (cpht) +1.5mm BCOS	Modelled Grade (cpht) +1.0mm BCOS
Kimberlite	58	87	16.53	28.5	0.19	2.28	50	53
Dump E	62	24	6.77	10.9	0.28	1.38	16	21

Botswana diamonds

The fresh kimberlite was identified as originating from the M8 dyke system, which extends to the Klipspringer diamond mine c.11 km to the west and the company’s Thorny River project to c.5 km the east. The Dump E material was predominantly a mix of M8 kimberlite and dolerite.

Both samples were treated at Eurafrican Diamond Corporation’s processing facility. They were subjected to primary and secondary crushing, pan plant concentration, grease and x-ray recovery and jigging with a nominal bottom cut-off of +1.7mm. These tailings have been retained for future analyses, as required.

The grade modelling was undertaken by Interlaced Consulting. It assumed a conventional kimberlite processing plant, including a re-crush circuit (to recover more finer diamonds).

Modelled results determined are in line with previous estimates and diamond recoveries from the nearby Klipspringer diamond mine.

Work will re-commence at Marsfontein and Thorny River as soon as Covid-19 restrictions are lifted to enable travel to the work areas.

Source: DCLA

Botswana Diamonds recovers over 100 macro diamonds

Botswana Diamonds PLC announced that it has concluded the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa.  The samples comprised 58-tons of fresh high-interest kimberlite and 62-tons of kimberlitic material from one of the residual stockpiles, known as ‘Dump E’.

Highlights:

• 87 macro diamonds were recovered from the fresh kimberlite giving a modelled grade of 50 cpht. (carats per hundred tons)
• 24 macro diamonds were recovered from Dump E giving a modelled grade of 16 cpht.

Grades are quoted at a +1.5 mm screen bottom size cut off

James Campbell, Managing Director, commented: “This bulk sampling campaign, which was carried out with the company’s royalty mining contractor Eurafrican Diamond Corporation, had two objectives. The first was to test the grade of the fresh kimberlite and the second was to confirm the grades of one of the mine dumps. Both were achieved, and proof of the fresh kimberlite grade paves the way for further exploration work on Marsfontein to target potential blows.

“The kimberlite grade is aligned with those achieved at Klipspringer mine and Thorny River, which are both nearby, indicating the considerable extent of the kimberlite dyke system. Options will be investigated on exploitation of the dumps once the nationwide lock down in South Africa is lifted and a sense of normality returns to diamond markets, post the global Covid-19 pandemic crisis.”

Results of the bulk sampling program, including modelled results are illustrated in the table below:

Source	Sample Size (tons)	No of stones	Carats	Raw Grade (cpht) +1.7mm BCOS	Average stone size cts	Largest stone cts	Modelled Grade (cpht) +1.5mm BCOS	Modelled Grade (cpht) +1.0mm BCOS
Kimberlite	58	87	16.53	28.5	0.19	2.28	50	53
Dump E	62	24	6.77	10.9	0.28	1.38	16	21

Botswana diamonds

The fresh kimberlite was identified as originating from the M8 dyke system, which extends to the Klipspringer diamond mine c.11 km to the west and the company’s Thorny River project to c.5 km the east. The Dump E material was predominantly a mix of M8 kimberlite and dolerite.

Both samples were treated at Eurafrican Diamond Corporation’s processing facility. They were subjected to primary and secondary crushing, pan plant concentration, grease and x-ray recovery and jigging with a nominal bottom cut-off of +1.7mm. These tailings have been retained for future analyses, as required.

The grade modelling was undertaken by Interlaced Consulting. It assumed a conventional kimberlite processing plant, including a re-crush circuit (to recover more finer diamonds).

Modelled results determined are in line with previous estimates and diamond recoveries from the nearby Klipspringer diamond mine.

Work will re-commence at Marsfontein and Thorny River as soon as Covid-19 restrictions are lifted to enable travel to the work areas.

Source: DCLA

De Beers Cuts Prices of Cheaper Rough

De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturing sector, dealers reported.

Prices fell by high-single-digit percentages versus the previous sale, sightholders told Rapaport News Tuesday. The drops were for rough costing $100 per carat or less, including both small and large stones that produce polished with low color and clarity.

Those segments of the Indian manufacturing market have suffered most from the depreciation of the rupee and tighter bank lending to the trade in recent months. De Beers’ move also reflects the seasonal weakness due to the Diwali festival, when many companies close their factories for two weeks or longer.

“There were a few corrections to align prices with the markets,” a broker said. “It was nothing earth-shattering — what [De Beers] did was sensible given the time of year.” The miner scheduled the drop to ensure manufacturers returned from Diwali to a market with lower rough prices and therefore stronger profit margins, the broker added.
De Beers mostly maintained prices for higher-value rough as demand has been strong for polished that comes from those categories, a sightholder said. Even so, manufacturing profits are tight, he noted.

“Generally things are good, but it’s challenging to make a profit,” the sightholder added. “Because of rough prices this year, it’s been tough to make good money. It’s not about losing money, but there’s less money to be made.”
De Beers is scheduled to release the value of its ninth sales cycle next week. The miner declined to comment Tuesday.

Image: Inspection of De Beers rough diamonds. (De Beers)

Source: DCLA

De Beers Cuts Prices of Cheaper Rough

De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturing sector, dealers reported.

Prices fell by high-single-digit percentages versus the previous sale, sightholders told Rapaport News Tuesday. The drops were for rough costing $100 per carat or less, including both small and large stones that produce polished with low color and clarity.

Those segments of the Indian manufacturing market have suffered most from the depreciation of the rupee and tighter bank lending to the trade in recent months. De Beers’ move also reflects the seasonal weakness due to the Diwali festival, when many companies close their factories for two weeks or longer.

“There were a few corrections to align prices with the markets,” a broker said. “It was nothing earth-shattering — what [De Beers] did was sensible given the time of year.” The miner scheduled the drop to ensure manufacturers returned from Diwali to a market with lower rough prices and therefore stronger profit margins, the broker added.
De Beers mostly maintained prices for higher-value rough as demand has been strong for polished that comes from those categories, a sightholder said. Even so, manufacturing profits are tight, he noted.

“Generally things are good, but it’s challenging to make a profit,” the sightholder added. “Because of rough prices this year, it’s been tough to make good money. It’s not about losing money, but there’s less money to be made.”
De Beers is scheduled to release the value of its ninth sales cycle next week. The miner declined to comment Tuesday.

Image: Inspection of De Beers rough diamonds. (De Beers)

Source: DCLA

Third largest diamond ever for Lucara Diamonds

Karowe diamond mine located in Botswana has recovered a 472 carat, top light brown gem diamond.

The Rough Diamond will be sold with other exceptional stones recovered this year as part of the first large stone tender in 2018.

In 2018 The Karowe mine will focus on the high value south lobe area which consistently delivers, large high quality diamonds in excess of 10 carats in size.

Source: DCLA

Third largest diamond ever for Lucara Diamonds

Karowe diamond mine located in Botswana has recovered a 472 carat, top light brown gem diamond.

The Rough Diamond will be sold with other exceptional stones recovered this year as part of the first large stone tender in 2018.

In 2018 The Karowe mine will focus on the high value south lobe area which consistently delivers, large high quality diamonds in excess of 10 carats in size.

Source: DCLA