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Angola Plans $77M Diamond Center
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Angola is halfway through the construction of a $77 million diamond hub that it hopes will create revenue sources beyond the sale of rough diamonds.The hub is located in Angola’s diamond province of Lunda Sul. It will contain a main...
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Manufacturing
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Jun 22, 2020
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Rapaport News
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Angola Plans Trading Hub to Support Sales
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Angola plans to create a diamond hub and exchange to help streamline sales and marketing of the rough the country produces.The hub will include an Angolan Diamond Bourse (ADB), a gemological academy and a technological research center....
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Rough Markets
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Jun 09, 2020
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Rapaport News
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Lucapa Raises $3.6M for Lulo Kimberlite Hunt
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Lucapa Diamond Company has completed a sale of new shares that successfully raised AUD 5.25 million ($3.6 million) to fund its search for the kimberlite source of its high-value alluvial stones.The proceeds of the rights...
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Mining
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Jun 03, 2020
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Rapaport News
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Angola’s Annual Rough Revenue Rises
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Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared...
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Mining
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Feb 16, 2020
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Rapaport News
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Grib Diamonds Taps New Rough Source
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Grib Diamonds has started buying rough in Angola, as a new company structure has enabled it to diversify beyond its one mine in Russia.The Antwerp-based company, which markets most of the Grib deposit’s diamonds, is looking to source goods...
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Rough Markets
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Feb 09, 2020
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Joshua Freedman
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Lucapa Tender Yields $10M
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Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola...
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Mining
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Oct 16, 2019
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Rapaport News
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Angola Aims to Broaden Its Diamond Trade
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Angola is looking to expand its diamond operations, andhopes to create businesses across all points of the sector, including manufacturingand jewelry. The country recently inaugurated its third diamond-cuttingand production factory, Pedra Rubra, which will...
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Rough Markets
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Sep 03, 2019
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Rapaport News
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Angola Pleased with Diamond Roadshow
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A roadshow launched to attract investors inAngolan mining surpassed expectations, with more than 230 companiesexpressing interest in acquiring a share of the five concessions on offer. The Angolan government decided to privatize thedeposits — including two diamond sites...
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Mining
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Aug 29, 2019
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Rapaport News
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Angola Sees Rise in Diamond Revenue
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Revenue from Angola’s national diamond-trading company,Sodiam, rose 3.9% year on year in the second quarter, with the government separately noting an increase in prices. Prices of Angola’s diamonds have increased since the implementation of the country’s...
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Mining
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Aug 12, 2019
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Rapaport News
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Global Diamond Production Value Rises
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Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4...
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Mining
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Jul 07, 2019
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Rapaport News
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Lucapa Closes In on Diamond ‘Mother Lode’
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Lucapa Diamond Company aims to pinpoint a huge source of rough diamonds at its Lulo mine in Angola within the next two years. The Australia-based miner has found high-quality stones at its alluvial deposit, including the...
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Mining
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May 27, 2019
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Rapaport News
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Lucapa’s Lulo Production Drops in 1Q
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Output at Lucapa Diamond Company’s Lulo mine in Angola fellin the first quarter, as it focused on processing ore from lower-grade miningareas. Production declined 25% to 3,369 carats, compared with 4,507carats the previous year, the miner...
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Mining
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Apr 15, 2019
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Rapaport News
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Alrosa, Endiama Aim to Develop Angola Industry
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Alrosa has signed an agreement withAngola’s state-run diamond-mining company to develop joint projects and shareinformation. Alrosa and Endiama have committed to work together onresearch and exploration projects in Angola. The Russia-based miner will alsoprovide...
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Mining
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Apr 07, 2019
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Rapaport News
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Angola to Hold Rough Tender in Israel
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Angola’s national diamond-trading company, Sodiam, has agreed tohold its first rough tender in Israel. Representatives from Israel’s government and diamond industry reached the deal with Angolan officials during a recent visit to the...
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Rough Markets
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Mar 17, 2019
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Rapaport News
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Lucapa Recovers 128ct. Rough
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Lucapa Diamond Company has recovered a 128-carat whitediamond from its Lulo alluvial mine in Angola, the company said Tuesday. The type IIa stone, which it found at the deposit’s Mining Block6 region, is the miner’s...
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Mining
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Feb 19, 2019
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Rapaport News
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Lucapa Predicts Premium from Angola Reforms
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Angola is set to host its first diamond sale under newrules designed to improve transparency and prices.Sodiam, a state-owned diamond-marketing company, will this month offerseven large stones from Lucapa Diamond Company’s Lulo mine, including...
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Rough Markets
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Jan 14, 2019
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Joshua Freedman
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Lucapa to Sell Large Diamonds from Lulo
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Lucapa Diamond Company will sell six large stones weighing atotal of 449 carats from its Lulo mine in Angola after an overhaul of thenation’s mining laws prompted it to delay the sale, it said. The Angolan government...
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Mining
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Sep 16, 2018
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Rapaport News
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Macau Exchange Targets Rough Trading
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Macau is hoping to leverage its relations with Portuguese-speaking diamond producers to emerge as a competitive rough-trading hub. Members of the newly created Macau China Diamond & Gem Exchange (MDGE) last week signed an agreement with the...
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Rough Markets
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Sep 16, 2018
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Rapaport News
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Tango Takes On Two New Mines
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Tango Mining has expanded its portfolio with the acquisitionof a Liberian mine, as well as signing an agreement to finance an alluvialproject in Angola. The miner has bought an 80% share in the Mano River Projectin Liberia from West...
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Mining
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Sep 13, 2018
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Rapaport News
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Diamond Resources Might Not Be Forever
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While it’s true that value comes from rarity, no naturalresource lasts forever, and the rare is becoming even rarer. Diamond productionis set to peak in 2019, after which it will begin a steady decline. De Beersestimates global...
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Mining
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Aug 14, 2018
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Leah Meirovich
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