Category Archives: Africa

Lucara sells world’s second-largest diamond for $53 million

The tennis ball-sized Lesedi La Rona rough diamond that Lucara Diamond (TSX:LUC) unearthed two years ago at its Karowe mine in Botswana was sold this week for $53 million.

The buyer, London-based Graff Diamonds, paid nearly $47,777 per carat.

“The stone will tell us its story. It will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties,” said the gem’s new custodian, Laurence Graff, in a press release.

On the other hand, Lucara CEO William Lamb stated that Graff paid a fair price for the 1,109-carat diamond, whose discovery marked a defining moment for the Vancouver-based company.

Such finding, he said, “solidified the amazing potential and rareness of the diamonds recovered at the Karowe mine. We took our time to find a buyer who would take the diamond through its next stage of evolution.”

Henry Sapiecha

Yet Another huge diamond unearthed in Lesotho mine

Gem Diamonds discovered this high quality 126-carat, D colour Type IIa rock at Letšeng

Africa-focused Gem Diamonds (LON:GEMD) unveiled Thursday a 126-carat rock unearthed at its flagship Letšeng mine in Lesotho, the latest in a string of major discoveries at the operation this year.

The finding of the high quality D colour Type IIa diamond comes barely a month after the company discovered two massive diamonds at the same mine —  a 151.52-carat Type I yellow rock and a high quality 104.73-carat, D-colour Type IIa stone.

It also follows the recovery of a 114-carat diamond in April and an 80-carat, D-colour Type-II diamond found in May — one of the highest-quality diamonds to come out of the Letšeng mine.

Type IIa diamonds contain very little or no nitrogen atoms, which places them among the most expensive stones.

Since acquiring Letšeng in 2006, Gem Diamonds has found four of the 20 largest white gem quality diamonds ever recovered, which makes of the mine the world’s highest dollar per carat kimberlite diamond operation.

At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is also one of the world’s highest diamond mines.

Henry Sapiecha

 

Gem Diamonds finds two large rough diamonds at flagship mine in Lesotho Africa

Africa-focused Gem Diamonds (LON:GEMD) has discovered two diamonds bigger than 100 carats at its Letšeng mine in Lesotho, which should help the company boost revenue and investors confidence.

The two massive diamonds are a 151.52-carat Type I yellow rock and a high quality 104.73-carat, D-colour Type IIa stone, the London-based miner said in a statement.

The last time Gem Diamonds had made a significant discovery at its Letšeng mine before April this year was in 2015.The findings come on the heels of other key discoveries at the mine. In April, the company announced the recovery of a 114-carat diamond and last month it found one of the highest-quality diamonds to come out of the Letšeng mine — an 80-carat, D-colour Type-II diamond.

The last time Gem Diamonds had found a significant diamond in Lesotho was in 2015, when it unearthed an “exceptional” 357-carat rock, later sold for $19.3 million.

Investors reacted positively to the news, with the stock was trading at 1.64% higher at 93 pence around 2:00PM GMT.

Since acquiring Letšeng in 2006, the company has found four of the 20 largest white gem quality diamonds ever recovered, which makes of the Lesotho mine the world’s highest dollar per carat kimberlite diamond operation.

At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is also one of the world’s highest diamond mines.

www.www-gems.com

Henry Sapiecha

Diamcor just found this rare green diamond at S. Africa project

Canada’s Diamcor Mining (TSX-V:DMI) said Tuesday it has found a 5.36-carat green gem quality octahedron rough diamond from its Krone-Endora project in South Africa, located next to De Beers’ Venetia mine, the world’s third largest.

While the significance of this rough green diamond is currently uncertain, the company said that given the rarity and potential high value of green diamonds, an analysis of the recently-found rock will be performed over the coming weeks.

The stone has been shipped to Antwerp along with other rough diamonds recovered from the ongoing efforts and processing underway at the project, Diamcor said.

Krone-Endora previously belonged to diamond giant De Beers, but Diamcor officially acquired the project in February 2011.

Diamcor and De Beers mines in Limpopo, South Africa. (Image courtesy of Diamcor Mining )

The project is located directly adjacent to De Beers’ Venetia mine, which is South Africa’s largest diamond mine, accounting for over 50% of the country’s annual output.

Prices for coloured diamonds have increased in the past two years. In June 2016, a massive intense blue diamond, known as The Cullinan Dream, fetched $25.4 million at a Christie’s auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

And last month in Hong Kong, the 59.60-carat “Pink Star” sold for a record $71.2 million, a price that highlighted the galloping market for coloured gems.

Henry Sapiecha

 

HUGE 110 CARAT YELLOW DIAMOND UNEARTHED IN AFRICAN Liqhobong MINE

Shares in Africa-focused Firestone Diamonds (LON:FDI) shot up in London Wednesday after it announced it had unearthed an 110-carat yellow diamond, it’s biggest find so far, at its newly developed mine in Lesotho.

The company, which is just ramping up production at its Liqhobong operation, said the finding confirmed its belief that the deposit holds large stones.

Investors reacted positively to the news, with the stock climbing as much as 13% early in the day and trading 9.7% higher to 49.10p at 1:38PM GMT.

Firestone spent $185 million building Liqhobong, which boasts over 11 million carats in reserve. The total open pit resource contains over 17 million carats down to 393 metres.

Since production began at Liqhobong in October, and before today’s announcement, the company had recovered 20 stones larger than 10.8 carats, the industry cut off for an exceptional stone, including a 37-carat white diamond.

Beautiful_Russian_4_300_250

Henry Sapiecha

Massive Cullinan Dream blue diamond fetches over $25m at auction

Price fetched makes it the most expensive fancy intense blue diamond ever sold at auction.

massive-cullinan-dream-blue-diamond-fetches-over-25m-at-auctionimage www.worldwidediamonds.info

The Cullinan Dream in the rough.

A 24.18-carat intense blue diamond known as The Cullinan Dream has just sold for $25.4 million at Christie’s Magnificent Jewels auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

The diamond, cut from a 122.52-carat rock found at Petra Diamond’s (LON:PDL) Cullinan mine in South Africa in 2014, is the largest of four blue diamonds made from the original.

The Cullinan Dream, a cut-cornered rectangular mixed-cut diamond, has been classified by the Gemological Institute of America as Type IIb. Those kinds of gems are very rare and account for less than one-half of 1% of all diamonds found in nature.

cullinam-dream-diamond-ring image www.worldwidediamonds.info

The Cullinan Dream is now a cut-cornered rectangular mixed-cut fancy intense blue diamond, weighing approximately 24.18 carats.

Type IIb gems contain a small amount of the element boron trapped in the crystal carbon structure during their formation that can give rise to a blue or grey coloration, Petra Diamonds said in a statement.

The mine is best known for the discovery of the Cullinan diamond, at 3,106 carats the largest rough diamond ever found. The gem was cut into two highly significant diamonds, which can be found in the British Crown Jewels.

Cullinan-Dream is now a cut-cornered rectangular mixed-cut fancy intense blue diamond, weighing approximately 24.18 carats.image www.worldwidediamonds.info

It is flanked on either side by a tapered baguette-cut diamond and set in a platinum ring, inscribed “Cullinan Dream”.

Since acquiring a majority stake in the mine in 2008, Petra Diamonds has found some high-profile blue diamonds, including “The Blue Moon of Josephine,” which sold in November for $48.5 million and “The Star of Josephine” — a 7.03 carat polished stone that sold in 2009 for $9.49 million, representing what at the time was a world record price per carat of $1.35 million.

www.www-gems.com

www.gem-creations.com

DDD

Henry Sapiecha

Petra finds yet another huge diamond at its very productive Cullinan mine

petra-finds-another-massive-diamond-at-its-cullinan-mine 121.26-carat white rock image www.worldwidediamonds.info

London-listed Petra Diamonds (LON:PDL), already known for its major findings of recent months, has just unearthed a 121.26-carat white rock from its Cullinan mine in South Africa.

The gem is a Type II diamond “of exceptional colour and clarity”, the company said, and is “an outstanding example of the large, high quality diamonds for which the mine is known.”

The 121.26-carat white diamond, along with a number of other high quality stones, will be sold in the last tender of Petra’ 2016 financial year.While Petra did not provide a value estimation, it did say the freshly found rock, along with a number of other high quality stones, will be sold in the last tender of its 2016 financial year.

Last week, a 24.18-carat intense blue diamond known as The Cullinan Dream, which Petra found in 2014, sold for $25.4 million in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

The Cullinan mine, located north-east of Pretoria, has yielded several massive gems, including the largest rough gem diamond ever discovered — the Cullinan. The 3,106-carat stone was cut into two highly significant diamonds, which can be found in the Crown Jewels of the Queen of England.

Petra, which operates four diamond mines in South Africa and one in Tanzania, posted a loss for the first half of its financial year in February, due to fewer sales demand and a glut of supply that pushed rough diamond prices down by 9%.

www.gem-creations.com

www.www-gems.com

www.www-globalcommodities.com

petra-diamonds-cullinan-mine image www.wordwidediamonds.info

DDD7

Henry Sapiecha

This is the 68-carat diamond Lucapa just found at its Lulo mine in Angola Africa

this-is-the-68-carat-diamond-lucapa-just-found-at-its-lulo-mine-in-angola image www.worldwidediamonds.info

Australia-based Lucapa Diamond (ASX:LOM) has recovered another major rock from trial mining at E46 alluvial terraces — a new area at its Lulo mine, in Angola.

The 68.1-carat gem-quality diamond is one of eight “significant” rocks found at the site, located about 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been mining diamonds since the firm began commercial operations in January last year.

lucapa-diamond-at-lulo image www.worldwidediamonds.info

(Image courtesy of Lucapa Diamond)

According to the miner, the finding highlights the potential for widespread recovery of large gems from its Lulo mine, considering the largest individual diamond recovered from the initial exploration bulk sampling phase conducted in the area weighed just 6.9 carat.

Lulo, about 700 kilometers (435 miles) east of Angola’s capital Luanda, is a joint venture between the company and the Angolan government. Lulo is located 150km from Alrosa’s Catoca mine, the world’s fourth largest diamond mine.

The mine hosts type-2a diamonds which account for less than 1% of global supply and, according to Lucapa, the world’s most famous large, white, flawless diamonds belong to this category.

lucapa-exploration-at-lulo-map image www.worldwidediamonds.info

(Image courtesy of Lucapa Diamond)

Angola is the world’s No.4 diamond producer by value and No.6 by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a long period of difficulty as a result of a civil war that ended in 2002.

The government has recently reduced taxes and cut state ownership requirements as it seeks to rekindle the industry after the global financial crisis forced mines to close.

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Henry Sapiecha

1,111 carat diamond recovered by Lucara: the largest for more than a century

LARGEST WHITE ROUGH DIAMOND FOUND IN BOTSWANA IN RECENT TIMES

lucara diamond image www.worldwidediamonds.info

It was an extraordinary feat by Lucara Diamond Corp. having discovered a 1,111 carat gem quality, Type IIa diamond. The discovery of the magnificent stone, which originated from the south lobe of Lucara’s Karowe Mine, makes it the discovery of the world’s second largest gem quality diamond ever recovered and the largest ever to be recovered through a modern processing facility. The stone measures 65mm x 56mm x 40mm in size and is the largest ever to be recovered in Botswana.

lucara diamond in hands image www.worldwidediamonds.info

Lucara is a high quality diamond producer with assets in Botswana. The 1,111 carat stone was recovered by the newly installed Large Diamond Recovery (LDR) XRT machines.

William Lamb, President and CEO, commented, “This historic diamond recovery puts Lucara and the Karowe mine amongst a select number of truly exceptional diamond producers. The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century and the continued recovery of high quality stones from the south lobe, cannot be overstated. Our focus on mining the south lobe, which is delivering value beyond expectation, has been perfectly timed with the commissioning of our recent plant modifications, enabling the recovery of these large, high quality exceptional diamonds.”

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Henry Sapiecha

Lucapa finds massive rare diamond

lucapa- huge -rough -white -diamond- image www.worldwidediamonds.info

Lucapa Diamond Company Limited has announced that it has recovered its largest diamond yet since alluvial mining commenced at the Lulo Diamond Project in Angola in January 2015.

On the Yehuda rough diamond colorimeter, the 90.32 carat gem is D colour and a Type 2A gem, one of the rarest categories of diamond in the world.

Lucapa also discovered a 63.05 carat Type 2A diamond in April 2015 and two Type 2A diamonds, weighing in at 131.4 and 95.45 carats, in January 2014. To date, the Lulo alluvial diamonds have averaged sale prices of $1,668 per carat, valuing Lucapa’s new find at over $150,000.

As well as the 90.32 carat gem, Lucapa and its partners have found a total of 31 special diamonds and 33 preliminary bulk sampling results from Mining Block 8 since mining commenced in August 2015.

Lucapa and its partners are conducting systematic pitting programs which aim to expand the Mining Block 8 alluvial diamond field.

Last month, Lucara Diamond recovered a 336 carat Type 2A diamond from its Karowe Mine in Botswana, following the find of another Type 2A 341.9 carat diamond in April 2015.

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Henry Sapiecha