Articles for tag: 195carat, Diamond, Lucapa, Lulo, recovers

May 28, 2024

Ron Finklestien

mining

Lucapa recovers 195-carat diamond from Lulo mine

The mine, which hosts the world’s highest dollar-per-carat alluvial diamonds, began commercial production in January 2015. Only a year later, it delivered the largest ever diamond recovered in Angola — a 404-carat white stone later named the “4th February Stone”. Lucapa has a 40% stake in the Lulo mine. The rest is held by Angola’s national diamond company (Endiama) and Rosas & Petalas, a private entity. Angola is the world’s fifth diamond producer by value and sixth by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully being liberalized.

April 25, 2024

Ron Finklestien

mining

Star Diamond, Minespider launch passport to comply with new G7 rules

Having over six years of traceability experience with companies like Google, Minsur, LuNa Smelter, and others, Minespider introduced its own Diamond Passport in March this year. The Diamond Passport contains all key information about the diamond, including its provenance data, the diamond’s unique DNA, such as size, shape, color, carat, clarity, cut, and specific inclusions (natural flaws or imperfections), certificates from gemological laboratories and other documentation about the diamond. Star Diamond is striving to ensure that diamond mining in Saskatchewan is conducted responsibly, with a focus on improving environmental performance and accompanied by strong social performance. President and CEO Ewan

April 23, 2024

Ron Finklestien

mining

Anglo American bullish on copper, cuts diamond targets

In Chile, where the company has the bulk of its copper operations, production rose 6%, with the Collahuasi and El Soldado mines more than compensating for a weaker quarter at Los Bronces. Anglo’s copper output for the year remained unchanged at 730,000-790,000 tonnes, but totals from its operations in Chile, the world’s top producing nation, are likely to be affected as the Los Bronces plant closes from the middle of the year.  Production in Peru will be weighted to the second half of the year, as a result of the copper grades temporarily declining to between 0.6%-0.7% in the first half of the

February 27, 2024

Ron Finklestien

mining

The Diamond Standard Welcomes Mark Cutifani to its Board of Advisors

A Mining Magnate’s Strategic Move Mark Cutifani, currently the chairman of Vale Base Metals, has joined the board of advisors at Diamond Standard. Vale, under his leadership, recently secured a massive $3.4 billion investment from the Public Investment Fund and Ma’aden mining of Saudi Arabia. Cutifani’s prior role involved heading AngloGold Ashanti, a formidable $7 billion mining outfit specializing in gold, silver, and uranium. Additionally, he was a prominent figure at the World Gold Council during the inception of the SPDR Gold Trust. Opening New Horizons in Diamond Trading His appointment comes at a pivotal moment for Diamond Standard as

February 6, 2024

Ron Finklestien

mining

De Beers Embarks on New Ventures in Angola’s Diamond Sector

De Beers has made a decisive move to enhance cooperation in the diamond sector, marking a crucial step forward in the company’s foray into Angola. During the momentous signing ceremony in Cape Town, South Africa, chief executive Al Cook expressed enthusiasm for the unfolding collaboration. This signifies a significant milestone, underlining a promising trajectory in De Beers’ engagement with Angola’s national diamond trading company Sodiam. One of the pivotal agreements signed by De Beers, a unit of Anglo American (LON: AAL), involves ensuring the use of best practices in sorting and processing rough diamonds mined in Angola. Such a commitment