Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Lucara revises capital cost for Karowe expansion project to $683 mln

15 march 2024

Lucara Diamond has released the findings of a recent feasibility study on the Karowe Underground Expansion Project (UGP), which projected a preproduction capital cost of $683 million.

The UGP is expected to generate a substantial amount of cash flow, significantly extending the overall Karowe mine life by 15 years.

The open-pit mine operations are projected to conclude by mid-2025.

Additionally, it is projected that 6.8 million carats will be recovered throughout the mine's extended lifespan.

"Lucara is excited to share the updated feasibility study for the Karowe UGP, which reinforces our strategic decision to extend mine life and continue to generate benefits for our stakeholders,” said Lucara chief executive William Lamb.

Lucara has accumulated enough surface stockpiles to sustain operations, while underground operations are being developed and expanded.

The underground expansion is anticipated to significantly extend the mine's lifespan and expect substantial revenue and cash flow projections that stretch to 2040, bringing advantages to the company, its employees, shareholders, and the communities neighbouring the mine in Botswana.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished