De Beers Finds Buyer for Namibia Mine

De Beers has sold the Elizabeth Bay mine for $8.2 million USD, a year after it ceased operations at the deposit.

The miner chose Lewcor Group, a 100% Namibian owned consortium, following an extensive search for a new owner that would be able to operate the mine — part of its Namdeb joint venture with the government of Namibia in a sustainable way, and would also retain De Beers’ employees and contribute economic value to Namibia, it said last week. However, the amount of the transaction could increase to $12.4 million USD, as Namdeb will earn a share of revenue from the sale of diamonds recovered from certain marine mining areas.

“Throughout this process, our objective has been to create the best possible circumstances for reopening the operations, recreating jobs and growing empowered participation in Namibia’s diamond industry,” said Chris Nghaamwa, chairman of Namdeb. “A rigorous, independently advised process enabled Namdeb to select a company with not only the right mining and financial credentials, but also a commitment to meet future social and environmental obligations.”

De Beers ceased operations at the site in September 2018. Although the mine still contains a viable supply of diamonds, output failed to meet the company’s needs and it could no longer run the deposit economically, it said.

Source: DCLA

De Beers Finds Buyer for Namibia Mine

De Beers has sold the Elizabeth Bay mine for $8.2 million USD, a year after it ceased operations at the deposit.

The miner chose Lewcor Group, a 100% Namibian owned consortium, following an extensive search for a new owner that would be able to operate the mine — part of its Namdeb joint venture with the government of Namibia in a sustainable way, and would also retain De Beers’ employees and contribute economic value to Namibia, it said last week. However, the amount of the transaction could increase to $12.4 million USD, as Namdeb will earn a share of revenue from the sale of diamonds recovered from certain marine mining areas.

“Throughout this process, our objective has been to create the best possible circumstances for reopening the operations, recreating jobs and growing empowered participation in Namibia’s diamond industry,” said Chris Nghaamwa, chairman of Namdeb. “A rigorous, independently advised process enabled Namdeb to select a company with not only the right mining and financial credentials, but also a commitment to meet future social and environmental obligations.”

De Beers ceased operations at the site in September 2018. Although the mine still contains a viable supply of diamonds, output failed to meet the company’s needs and it could no longer run the deposit economically, it said.

Source: DCLA

South Africa grants Botswana Diamonds ‘critical’ environmental authorization

Botswana Diamonds said Thursday that it had received a “critical” environmental authorization for diamond-bearing gravels from the Marsfontein mine, next to the company’s own Thorny River project in South Africa.

The company noted the permission, granted to its associated firm Vutomi, was a critical step towards obtaining a mining permit, which it expected to receive shortly.

“We believe the mine gravels and unprocessed stockpiles around the Marsfontein mine contain commercial grades of diamonds,” chairman John Teeling said.

Botswana Diamonds has identified potential partners to process the gravels and stockpiles.

Source: DCLA

South Africa grants Botswana Diamonds ‘critical’ environmental authorization

Botswana Diamonds said Thursday that it had received a “critical” environmental authorization for diamond-bearing gravels from the Marsfontein mine, next to the company’s own Thorny River project in South Africa.

The company noted the permission, granted to its associated firm Vutomi, was a critical step towards obtaining a mining permit, which it expected to receive shortly.

“We believe the mine gravels and unprocessed stockpiles around the Marsfontein mine contain commercial grades of diamonds,” chairman John Teeling said.

Botswana Diamonds has identified potential partners to process the gravels and stockpiles.

Source: DCLA

Zimbabwe Holds Diamond Auction for 316,000 Carats

Zimbabwe’s state owned Minerals Marketing Corporation opened a 316,000 carat diamond auction, which will close at the end of the week an official said.

“This is the third auction we have conducted this year as there were some administrative issues which were taking place within the organization,” MMCZ’s General Manager Tongai Muzenda said by phone on Wednesday. The last auction was held in July.

The auction, which began on Sept. 9 and will close on Sept. 13, has attracted buying interest from Belgium, Dubai, India, Israel and South Africa, but Muzenda declined to name the companies bidding, citing confidentiality.

Zimbabwe expects to produce 4.1 million carats of diamonds this year, up from 2.8 carats in 2018. At the peak of production in 2012, the southern African country’s output was 12 million carats.

Source: DCLA

Zimbabwe Holds Diamond Auction for 316,000 Carats

Zimbabwe’s state owned Minerals Marketing Corporation opened a 316,000 carat diamond auction, which will close at the end of the week an official said.

“This is the third auction we have conducted this year as there were some administrative issues which were taking place within the organization,” MMCZ’s General Manager Tongai Muzenda said by phone on Wednesday. The last auction was held in July.

The auction, which began on Sept. 9 and will close on Sept. 13, has attracted buying interest from Belgium, Dubai, India, Israel and South Africa, but Muzenda declined to name the companies bidding, citing confidentiality.

Zimbabwe expects to produce 4.1 million carats of diamonds this year, up from 2.8 carats in 2018. At the peak of production in 2012, the southern African country’s output was 12 million carats.

Source: DCLA

Rio Tinto launches new collection of rare Argyle pink diamonds

Rio Tinto has launched a new collection of rare pink diamonds from its Argyle diamond mine in the east Kimberley region of Western Australia.

Known as the “Argyle Pink Everlastings™ Collection”, this beautiful offering has been curated to showcase the full colour palette of Argyle pink diamonds, weighing 0.14 carats and below.

The Argyle Pink Everlastings™ Collection comprises 64 lots and weighing a total of 211.21carats it represents justtwo per cent of the Argyle pink diamond annual production. It is expected that less than 100 carats of the equivalent profile will be produced by the mine prior to closure in 2020.

Argyle Pink Everlasting Collection

Jewellery historian Vivienne Becker said “ The Everlastings Collection™, representing one of the last offerings of its kind from the Argyle mine, will feed the unstoppable demand from designers and jewellers who appreciate the finite raity of these beautiful gems”.

Encapsulating a rich history and an extraordinary provenance, every lot in the Argyle Pink Everlastings™ Collection is accompanied by a Certificate of Authenticity.

Rio Tinto Copper & Diamonds vice president of sales and marketing Mr Alan Chirgwin said “ We are delighted to offer for the first time ever this unique collection of rare Argyle pink diamonds, destined to be in strong demand by the world’s finest jewellers.

“The accumulation of these diamonds from a certifiable source in various shapes, sizes and colours is the result of a painstaking endeavour, unlikely to be ever repeated.”

The Argyle Pink Everlastings™ Collection will be tendered alongside the annual Argyle Pink Diamonds Tender in Perth, Singapore, London and New York with bids closing on 9 October 2019.

Source: DCLA