Monday 25 June 2018
CAR Welcomes Progress Made At KP Intersessional Meeting
Notably, the Monitoring Team of the Central African Republic has agreed on shorter clearance deadlines for the export of diamonds. The approval procedures in the CAR must now be concluded within 7 days while still securing compliance with the Kimberley Process.
Sipho Manese, Chair of the Working Group of the Monitoring Team, declared at the closing ceremony of the intersessional meeting: “We are happy to announce that thanks to the expertise of the CAR Monitoring Team and all of its members, we have been able to agree on procedures for the processing of shipments which will only take place over a period of 7 days. […] We were therefore successful in cutting down the clearance time from 2 weeks to 7 days.”
Manese further noted that all parties involved will have to strictly adhere to these procedures.
Leopold Mboli Fatran, CAR Minister of Mines and Geology attended the meeting as a representative of the sector for his country and said “I am very satisfied with the progress made at the intersessional meeting. The discussions were very fruitful and so were the solutions agreed upon.” The Minister added that “2018 is a crucial year for the Kimberley Process and for the Central African Republic as the country is at a deciding stage in the reform of its diamond sector.”
The CAR Delegation was reinforced by the presence of Peter Meeus, special advisor to the President and to the Minister of Geology and Mines, whose mandate is to assure proper due diligence processes within the CAR mining sector. This mandate was conferred to him with a presidential decree dated June 2, 2018.
The Minister of Mines and Geology also indicated his willingness to host an Expert Mission in the CAR so that the controls that have been put in place in the country in compliance with the Kimberley Process can be properly assessed.
The Central African Republic will continue to improve compliance with the Kimberley Process in close collaboration with the EU KP Chair, South Africa who leads the Monitoring Working Group as well as with the United States which leads the CAR Monitoring Team.
Source:DCLA
CAR Welcomes Progress Made At KP Intersessional Meeting
Notably, the Monitoring Team of the Central African Republic has agreed on shorter clearance deadlines for the export of diamonds. The approval procedures in the CAR must now be concluded within 7 days while still securing compliance with the Kimberley Process.
Sipho Manese, Chair of the Working Group of the Monitoring Team, declared at the closing ceremony of the intersessional meeting: “We are happy to announce that thanks to the expertise of the CAR Monitoring Team and all of its members, we have been able to agree on procedures for the processing of shipments which will only take place over a period of 7 days. […] We were therefore successful in cutting down the clearance time from 2 weeks to 7 days.”
Manese further noted that all parties involved will have to strictly adhere to these procedures.
Leopold Mboli Fatran, CAR Minister of Mines and Geology attended the meeting as a representative of the sector for his country and said “I am very satisfied with the progress made at the intersessional meeting. The discussions were very fruitful and so were the solutions agreed upon.” The Minister added that “2018 is a crucial year for the Kimberley Process and for the Central African Republic as the country is at a deciding stage in the reform of its diamond sector.”
The CAR Delegation was reinforced by the presence of Peter Meeus, special advisor to the President and to the Minister of Geology and Mines, whose mandate is to assure proper due diligence processes within the CAR mining sector. This mandate was conferred to him with a presidential decree dated June 2, 2018.
The Minister of Mines and Geology also indicated his willingness to host an Expert Mission in the CAR so that the controls that have been put in place in the country in compliance with the Kimberley Process can be properly assessed.
The Central African Republic will continue to improve compliance with the Kimberley Process in close collaboration with the EU KP Chair, South Africa who leads the Monitoring Working Group as well as with the United States which leads the CAR Monitoring Team.
Source:DCLA
Sunday 24 June 2018
Losses Grow at South Africa’s Trans Hex
The company halted production at the unprofitable LOR division in South Africa in October, and agreed in April to sell the assets to a firm called Lower Orange River Diamonds.
Revenue from LOR fell 54% to $15.3 million due to the mines Baken and Bloeddrif being on care and maintenance for a large part of the financial year ending March 31.
Losses at the discontinued operations grew 81% to $15.9 million from $8.7 million last year.
Sales at Trans Hex’s continuing operations West Coast Resources in South Africa and Somiluana in Angola more than doubled to $14.3 million .
The miner recorded a $2 million profit at those assets, compared with a loss of $4.9 million a year ago.
Source: DCLA
Losses Grow at South Africa’s Trans Hex
The company halted production at the unprofitable LOR division in South Africa in October, and agreed in April to sell the assets to a firm called Lower Orange River Diamonds.
Revenue from LOR fell 54% to $15.3 million due to the mines Baken and Bloeddrif being on care and maintenance for a large part of the financial year ending March 31.
Losses at the discontinued operations grew 81% to $15.9 million from $8.7 million last year.
Sales at Trans Hex’s continuing operations West Coast Resources in South Africa and Somiluana in Angola more than doubled to $14.3 million .
The miner recorded a $2 million profit at those assets, compared with a loss of $4.9 million a year ago.
Source: DCLA
Thursday 21 June 2018
The De Beers Retail division removes diamond from the name
De Beers acquired fully the formerly known De Beers Diamond Jewellers in 2017. Which was a partnership with LVMH Moët Hennessy Louis Vuitton.
The London headquartered retailer announced Stephen Lussier, as De Beers executive vice president for marketing in charge of the operation.
Source:DCLA
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