The Angolan government is to launch a public tenderprocess during the remainder of this year for five mining concessions. These will be for diamonds, iron-ore and phosphates. This was announced late last month by the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, during a visit to the city of Moçamedes (capital of Namibe province), the Macauhub news agency rep...Read More
The gender gap in the mining industry will widen if it does not invest in attracting more women to associated careers, in view of the quickly evolving roles and skills required by the industry, particularly owing to Industry 4.0, says diamond company De Beers Group.“There is no doubt that the mining industry will benefit from being more diverse and inclusive, as this leads to greater resilie...Read More
HARARE – Zimbabwe will repeal its indigenisation and economic empowerment legislation dealing with ownership of foreign-controlled companies and replace it with a new empowerment law, Finance Minister Mthuli Ncube said on Thursday.Addressing parliament, Ncube also said foreign investors can now take majority stakes in the platinum and diamond sectors.AdvertisementThe empowerment law ado...Read More
RAPAPORT... The Gemological Institute of America (GIA) and its sisterorganization, the American Gem Society (AGS), have established a scholarship inhonor of the contributions made by Beatrice Shipley. Shipley, the wife of GIA and AGS founder Robert Shipley,provided the emotional, financial and managerial support that enabled bothinstitutes to be created, the GIA said Tuesday. The Beatrice Shi...Read More
RAPAPORT... Yury Okoemov, one of Alrosa's deputy CEOs and head of its diamond-cutting division, is leaving the Russian miner, the company said Tuesday. Okoemov has been with the Alrosa since 1993. After his departure, employees of the cutting business will report directly toSergey Ivanov, Alrosa's CEO. Meanwhile, Alexander Matveev, a 10-year veteran and the headof Alrosa's legal department,...Read More
RAPAPORT... Pandora's US division will have new roles to fill, astwo senior executives leave the company. Laurie McDonald will exit the Danish jeweler after 15 years,the last three spent as the general manager of Pandora US, while JohnDePasquale, US vice president of wholesale sales, will depart after six yearsat the company. "[McDonald] has decided to leave the company to begin a newchapter...Read More
Petra Diamonds commented on the release of its share price performance for the financial year of 2019, saying it delivered "solid set of operational results for 2019," with improved safety, a production of 3.87 million carats - in line with guidance - and lower capital expenditure of $81.7 million, down from US$129.6 million in 2018 Petra generated $17 million of free cashflow in the second...Read More
RAPAPORT... UK-based synthetic-diamond-jewelry retailer Lark & Berryhas hired Paul Ziff as its brand manager for North America. Ziff was previously a brand president at both Richemont andLVMH, and has held executive positions at Ralph Lauren Watch and Jewelry,Zenith Watches, and Ferragamo Timepieces. He will be responsible for helping tolaunch Lark & Berry's products in the North Amer...Read More
Two veteran members of Alrosa's Executive Committee will be leaving Alrosa: Deputy CEO Yury Okoemov and Alexander Matveev, the head of Alrosa's legal department. The miner also announced two new appointments. Sergey Imangulov was appointed the company's chief ore enrichment specialist, and Alla Popova will take up the position of director of Alrosa's personnel training center....Read More
The Gemological Institute of America (GIA) is offering $2 million in scholarships for aspiring or current gem and jewelry professionals interested in GIA gemology, jewelry manufacturing arts, distance education courses and lab classes in 2020. The scholarships are available for on-campus and distance education programs and are open to U.S. and international prospective students. Applications will...Read More
RAPAPORT... UK-based synthetic-diamond-jewelry retailer Lark & Berryhas hired Paul Ziff as its brand manager for North America. Ziff was previously a brand president at both Richemont andLVMH, and has held executive positions at Ralph Lauren Watch and Jewelry,Zenith Watches, and Ferragamo Timepieces. He will be responsible for helping tolaunch Lark & Berry's products in the North Amer...Read More
TSX-V-listed junior Tango Mining, which operates the Oena diamond mine in South Africa, will sell its metallurgical coal and mining projects to focus on its diamond properties, it announced on Tuesday.The company owns a 74% interest in each of Kwena Mining Projects, Kwena Mining and Metallurgical Services and Kwena Springlake Projects.AdvertisementTango will sell the Kwena group to a director, Kev...Read More
RAPAPORT... Newfield Resources will start construction at the Tongo mine in Sierra Leone in the coming weeks, after its board approved final funding for the project. The first diamond production from the mine is expected 12 months after underground blasting begins, the company said last week. "We are delighted to have agreed a funding package that allows us to commence construction of the company'...Read More
RAPAPORT... Sarine Technologies expects to report a loss for the second quarter, ascontinued market uncertainties led to lower demand for its diamond-manufacturing equipment. The net loss will be approximately $1 million, the companycautioned earlier this month, compared with a profit of $4.1 million for the same periodlast year. Sarine also predicted revenue of approximately $11.5 million, a...Read More
RAPAPORT... Two companies dealing in pre-owned luxury jewelry and watches have merged, aiming to tap into what they claim is a $1 trillion market. Circa and Mondiamo will continue to operate under two separate names and logos, but will combine their resources, they said Monday."We are miners - we mine above ground," said OrenSchneider, CEO of Mondiamo parent company Adama Partners, which will...Read More
RAPAPORT...De Beers' rough-diamond sales plummeted 53% this month ascustomers accepted the miner's offer to defer purchases until the marketimproves.Weak polished demand and excess supply in the manufacturingand trading sectors have hurt sightholders' appetite for rough goods, sourcesexplained. As a result, revenues fell to$250 million at De Beers' sixth sales cycle, the company reported Tuesday&n...Read More
De Beers Group published the results of what it calls its "sixth sales cycle" of 2019. The value of this month's sight stood at $250 million, a drop of more than 60 percent compared to the sixth sight of 2018 ($533). The miner reported that its fifth sight, of last month, had generated $391 million, compared to $581 million in June 2018. To date, De Beers' rough sales in 2019 reached $2....Read More
Alrosa, the world's largest national diamond miner, and the Federal Agency for Nationality Affairs (FADN of Russia) signed an agreement on cooperation in the field of preserving the traditional lifestyle of the indigenous minorities of the Russian North, Siberia and the Far East. The agreement was signed by Igor Barinov, head of the FADN of Russia, and Sergey Ivanov, CEO of Alrosa. The main s...Read More
Bulawayo 24 News, a leading online Zimbabwean news provider, reported earlier tis month that Vice President, Retired General Constantino Chiwenga, is looking to engage China, help in the removal of President Emmerson Mnangagwa from office. Mnangagwa's tenure in office is reportedly already hanging by a thread, as a faction in the military close to, wants him to voluntarily resign and make way...Read More
Mondiamo, a high-growth online buyer of pre-owned diamond jewelry, announced it is merging with CIRCA, the global buyer of pre-owned fine jewelry and watches with 12 offices worldwide, creating the world's leading buyer of pre-owned luxury diamonds, jewelry and watches. Consumers own more than $1 trillion of fine jewelry and watches, according to Mondiamo, who estimate the global secondary ma...Read More