Lucapa gets another $2 million from Lulo diamonds sale

Lucapa Diamonds said it had made USD $2 million after selling rough diamonds recovered at its prolific Lulo mine in Angola.

Sale has taken gross sales proceeds from the Angola based mine so far this year to $15.9 million.

Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa all partners in th emine have sold 1,782 carats at an average price of $1,150 per carat.

The mine is  located 150km from Alrosa’s Catoca mine the world’s fourth largest diamond mine, hosts type 2a diamonds which account for less than 1% of global supply.

Angola is now the world’s forth largest diamond producer by value and sixth by volume.

Source:DCLA

Lucapa gets another $2 million from Lulo diamonds sale

Lucapa Diamonds said it had made USD $2 million after selling rough diamonds recovered at its prolific Lulo mine in Angola.

Sale has taken gross sales proceeds from the Angola based mine so far this year to $15.9 million.

Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa all partners in th emine have sold 1,782 carats at an average price of $1,150 per carat.

The mine is  located 150km from Alrosa’s Catoca mine the world’s fourth largest diamond mine, hosts type 2a diamonds which account for less than 1% of global supply.

Angola is now the world’s forth largest diamond producer by value and sixth by volume.

Source:DCLA

Petra Diamonds has secured $170 million to help lower debt

Shares in Petra Diamonds climbed around 5% on Wednesday after the South African miner said shareholders had approved a rights issue to raise about $170 million to help cut its debt burden.

Petra Diamonds has more than $600 million of debt it accumulated by building a new plant and digging deeper at its flagship Cullinan diamond mine.

Petra Diamonds is owner of the iconic Cullinan mine, where the world’s biggest ever diamond was found in 1905, has accumulated a hefty debt in the last 18 months as it borrowed heavily to expand its mines, known for some major recent findings,
Petra Diamonds has more than $600 million of debt it accumulated by building a new plant and digging deeper at Cullinan. Its lenders waived covenants for December 2017 and relaxed them for this year’s measurements.

Petra Diamonds also faced illegal mining at its operations, weak prices, a surging South African rand and setbacks in Tanzania, where the government seized last year a diamond parcel from it Williamson mine of about 71,000 carats.

The move, part of the country’s ongoing probe into alleged wrongdoing in the diamond and tanzanite sectors, has been costly for Petra, as it shares lost around half of their value last year after the incident.

Source: DCLA 

Petra Diamonds has secured $170 million to help lower debt

Shares in Petra Diamonds climbed around 5% on Wednesday after the South African miner said shareholders had approved a rights issue to raise about $170 million to help cut its debt burden.

Petra Diamonds has more than $600 million of debt it accumulated by building a new plant and digging deeper at its flagship Cullinan diamond mine.

Petra Diamonds is owner of the iconic Cullinan mine, where the world’s biggest ever diamond was found in 1905, has accumulated a hefty debt in the last 18 months as it borrowed heavily to expand its mines, known for some major recent findings,
Petra Diamonds has more than $600 million of debt it accumulated by building a new plant and digging deeper at Cullinan. Its lenders waived covenants for December 2017 and relaxed them for this year’s measurements.

Petra Diamonds also faced illegal mining at its operations, weak prices, a surging South African rand and setbacks in Tanzania, where the government seized last year a diamond parcel from it Williamson mine of about 71,000 carats.

The move, part of the country’s ongoing probe into alleged wrongdoing in the diamond and tanzanite sectors, has been costly for Petra, as it shares lost around half of their value last year after the incident.

Source: DCLA 

20ct. Flawless Diamond Leads Christie’s Sale

The exceptional 20.47 carat D colour type IIa old mine brilliant cut,  diamond has sold for USD $2.7 million.

The D flawless diamond was the top seller at Christie’s Magnificent Jewels auction in New York on Tuesday.

The Christie’s pre-sale estimate for the diamond was $2.5 million to $3.5 million.

Source: DCLA

20ct. Flawless Diamond Leads Christie’s Sale

The exceptional 20.47 carat D colour type IIa old mine brilliant cut,  diamond has sold for USD $2.7 million.

The D flawless diamond was the top seller at Christie’s Magnificent Jewels auction in New York on Tuesday.

The Christie’s pre-sale estimate for the diamond was $2.5 million to $3.5 million.

Source: DCLA

Thieves Steal 20ct. Diamond at Vegas Show

Two men stole a 20 carat diamond from an exhibitor’s booth at the JCK Las Vegas trade show, the Jewelers’ Security Alliance (JSA) said last week.

The men were able to slide open an unlocked display case on June 2 while employees were not looking, the organization alleged. One man then sat down at the booth and began speaking with an employee, while the second placed a catalog on top of the showcase. The second man then reached into the case and removed the stone.

The JSA has distributed pictures of both alleged thieves, but neither has been identified yet.

Image: Jewelers’ Security Alliance