Grand Opening Ceremony Of GJ Hub India Gems & Jewellery Show Bangalore - 2017
Angola with 1 bn kt of diamonds
Angola has a total of 1 billion carats of diamonds in resources and reserves of which over 950 million in Kimberly and more than 50 million in alluvial. The data were released Friday in Luanda by the deputy director of the company in charge of scientific research in the field and geological prospecting, Victor Ustinov.
Presenting the results of the studies on Angolan diamond potential started more than five years ago, the manager said that such results suggest that the total resources and reserves may reach 1.5 billion in future should the sector conducts other studies aimed to boost the country’s diamond potential.
The studies, conducted by Angolan and Russian experts in the field, points to six rich chimneys, five of which belong to Catoca Mining Company.
Alrosa president Andrey Zharkov at the WFDB President meet, "Alrosa has just completed a large-scale program of building three underground mines in Yakutia-the Mir, the Aikhal and the Udachnaya pipes. Underground mining required huge investments -about $1 bln for one underground facility. Today around 25% of Alrosa’s carats output is produced by underground mines. We expect this share to rise up to 35% by 2020."
Maxim Shkadov, IDMA president at the 2015 Dubai Diamond Conference, "One known model is called the beneficiation model, a model that in my view will become soon obsolete because it has proven to be ineffective- surely from an economical perspective, and often also from an practical and ethical point of view. Clearly, any country that wishes to sell its rough diamonds in the downstream market needs to assure that their diamonds are not part of a flawed business model that lacks transparency."
Ernie Blom, WFDB President: "These are complicated times for the diamond industry across the world. I must stress that the WFDB is fully aware of the breadth and depth of these issues and that we are taking all steps possible to address them and to aid all our members."
Philippe Mellier at Presidents meeting, "The new contract period requires greater financial transparency and robustness from our customers. While this may have presented some challenges when it came to compliance, the new approach is a crucial step given the changes to the world of financing. It will help the industry regain its reputation worthy recipient of the bank finance that provides oxygen to the midstream. And it will mean greater midstream liquidity, helping diamantaire businesses bridge through periods of lower seasonal demand."
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