The Tchegi alluvial site will, together with Escom’s existing Luo kimberlite mine, produce a total of about 35,000 carats a month by the end of the year.
A person familiar with the matter says Rio Tinto is considering a sale of all or part of its Riversdale unit after last week flagging a $3 billion writedown for the assets.
The diamond producer is confident of finding a gem deposit in Angola that will allow it to more than recoup the $250 million it has spent on exploration.
The country raised the import tax on gold to from 4% to 6% on Monday, with the aim to curb purchases and rein in its ballooning current account deficit.
The hike in gold import duty in India is set to help smugglers push the precious metal and increase the price of gold by $13 per ten gram in the domestic market.
ArcelorMittal has resolved its bitter dispute at the French Florange plant, though the company has decided to write down the value of its European business by $4.3 billion