The Diamond Report: Luxembourg 2012

WAN CHAI, Hong Kong - Nov. 12, 2013 - PRLog -- For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first or second in quantity of world reserves of bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals, vermiculite, and zirconium. Gold mining is Africa's main mining resource.

According to Vestige Group ltd, the mining sector globally is experiencing unprecedented changes, stimulated by the continuing volatility of commodity prices combined with rising exploration costs. Jean says that Namibia has the richest known marine diamond deposits in the world, estimated at more than 80 million carats representing approximately 90% of the country's diamond resources.

Jean. A socially sensitive entrepreneur and known for his concern for environmental ethics or as he calls it “ holistic ecological matters” and explained that “ all three factors must always be on the agenda; environmental, anthropological and wildlife”. Jean stressed that the nature of sustainable development requires a more holistic approach to the relationship between human activity and the environment, because the environment experiences impacts in a cumulative way and “notwithstanding such challenges, we need to develop policies that will allow us to pursue economic developments equitably and within our ecological limits:. According to Jean “Africa remains a market with huge potential with respect to mineral reserves exploration and production and we have to responsibly harness the economical potential and empower the local people through jobs and education in the territories and follow the Namibian example”; Namibia Diamonds are the only diamonds that feature the Team Namibia logo and come with a validation certificate. This assures that your diamond is a natural, ethically sourced diamond that has been polished in the Namibian diamond factory.

It is also a well known fact that south Africa has some of the richest mining reserves in the world. A previous Citigroup report states that the country has around $2.5 trillion worth of metals and minerals, even more than Russia and Australia, which rank second and third respectively. But these undoubtedly impressive figures hide an underlying story.

South Africa had traditionally faced a conundrum of issues in its mining sector. Because the industry itself had suffered from bureaucratic hurdles to confusing government policies, south Africa has not been able to completely capitalize on the commodity booms in the past.

There is no doubt that South Africa will continue to be the richest mineral and metal resource for at least another 100 years.

In 2005, Africa's share of world diamond production, by volume, was 46%. Africa diamond production increased by nearly 51% in 2005 compared with that of 2000. the increase in output was broadly based, with production rising in Angola, Botswana, Congo( Kinshasa), Ghana, guinea, Lesotho, Namibia, Sierra Leone, South Africa, and Zimbabwe. Production declined in the Central Africa republic and Tanzania.

Congo (Kinshasa) accounted for nearly one- half of the increase in production, by volume increased political stability and the Kimberley process led to higher production by artisanal miners. Societe Miniere de Bakwangw (MIBA) increased its output and gradual increases in production have also been seen by JFPI Corporation's Diamant International. In addition, Sengamines and Midamines SPRL started mining operations in 2001 and 2005, respectively.

In Botswana, production increased at the Jwaneng, the Letlhakane, and the Orpa mines, and the Damtshaa mine was opened. In South Africa, production increased at the Finsch, the Kimberley, the Namaqualand, and the Venetia Mines. In Namibia, higher production was attributable to Namdeb Diamond Corporation (Pty) Ltd.'s increased output. The Murowa Diamond Project commenced production in Zimbabwe in 2004. Botswana accounted for 35% of African diamond output by volume; Congo (Kinshasa), 34% ; South Africa, 17%; and Angola, 8%.

In 2005, the global value of rough diamond production amounted to $12.7 billion, of which Africa accounted for about 60%. Botswana accounted for 24% of the value of global rough diamond output; South Africa, 12%; Angola, 11%; Congo (Kinshasa), 8%; and Namibia, 5%.

In November 2002, the Kimberly process Certification Scheme was established to reduce the trade of conflict diamond, particularly diamond originating from Angola, Congo (Kinshasa), and Sierra Leone. The establishment of the the Kimberly Process involved Government officials from more than 50 countries that produced, processed, and imported diamond as well as representatives from the European Union, the World Diamond Council, the African Diamond Council and nongovernmental organizations. As of 2005, the following African countries had met the minimum requirements of the Kimberly Process Certification Scheme; Angola, Botswana, Central African Republic, Congo (Kinshasa), Cote d'Ivoire, Guinea, Lesotho, Mauritius, Namibia, Sierra Leone, South Africa, Swaziland, Tanzania, Togo, and Zimbabwe.

The production of rough diamond is expected to increase by an average of nearly 3% per year. In Angola, the Fucauma, the Kamachia- Kamajiku, the Luarica, and the Rio Lapi Garimpo Mines are expected to contribute to higher output. Production could rise in Congo (Kinshasa) because of the possible expansion of MIBA's facilities. European Diamonds plc started production in Lesotho in 2005; Zimbabwe's production could increase because of higher production from Murowa. Output was expected to rise in Namibia and Tanzania because of expansions at mines operated by DeBeers Group.