Nigeria resumes mining in Zamfara state on improved security
Nigeria has lifted a ban on mining exploration in the northwestern state after a five-year suspension.
Storm Mountain Diamonds (SMD), jointly owned by Namakwa Diamonds Limited and the Government of Lesotho, has recovered a 108.39-carat fancy pink diamond at its Kao Mine in the Southern African country.
The diamond is one of the largest pink roughs ever found in Africa, which include the “Lulo Rose”, 170-carat precious stone recovered by Australia’s Lucapa Diamond (ASX: LOM) in Angola last year.
SMD said the diamond was recovered from a sample of kimberlite ore that was processed at the mine’s plant.
It is a Type IIa stone, which means it has very few impurities and a high level of clarity, the company said.
The Kao Mine is one of the largest diamond mines in Lesotho. Coloured diamonds, especially pink ones, have repeatedly set record-setting prices in recent years as they are rarer than white ones. While they come in many hues, pink and blue are the most coveted.
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Prices for the pink variety are expected to soar to new highs in the coming years as Rio Tinto closed its iconic Argyle mine. The operation was the world’s biggest diamond mine and the main global source of high-quality pink gems.
3 Comments
Busang Mokoatisi
Is there a need to publizise the pink diamond while the country is poor whereas its diamonds break records???
CHARLES MOFFAT MOFFAT
What is the process of investing in mining
Thabo motloheloa
We thanks for Lesotho