The company, which also owns a 40 percent stake in the project, said that the growth of the capacity of the processing plant to provide increased production by 33%, to 4,098 carats during the reporting period.
"On Lulo in the first quarter to continue regular production of large diamonds and bonuses, while the number of special stones increased by 58%, to 38," - said in a statement Lucapa.
"Among these special stones - the second largest diamond Angola 227 carats color D IIa type as well as stones weighing 92 karat, 62 karat, and 65 carats," - the company added.
Record processing volumes was achieved against a background of continuing Lucapa and its partners Endiama and Rosas & Petalas exploration of new mining units at Lulo along the river Kaku (Cacuilo). Meanwhile, access to known sites with the content of large diamonds - Block 8 and 6 - was largely confined during the rainy season.
During the quarter, alluvial joint venture Lulo had revenue of $ 10.7 million.
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In a statement, India's Ministry of Finance on January 25, said that the government will pay the bank commission of 2.5% for the mobilization of gold stored in them, to participate in the scheme of gold monetization. In addition, investors will be allowed to prematurely withdraw the invested amount of the precious metal. The government expects that the above changes will make the scheme more attractive for potential investors.
In accordance with the amended rules, the government will pay the participating banks the cost of services for testing the purity of gold, its purification, storage and transportation. This applies only to the medium- and long-term deposits. "In fact, the banks will receive a 2.5 percent commission on the scheme, which will include funds owed for the collection and testing of gold at refining plants" - the ministry said in a statement.
Interest rates on new deposits of gold will amount to 2.5% per annum. In accordance with the amended rules, investors are now allowed to premature repayment of medium and long-term government deposits. "Any medium-term deposit will be allowed to close prematurely after a three-year period, and any long-term -. After a five-year term of the deposit Payment of interest on deposits will be properly trimmed," - added to the application writers.
In addition, investors can now transmit their gold directly to refineries, rather than venues assay. "It encourages the participation of major institutional investors in the scheme (the monetization of gold)," - say in the ministry.
In addition, the Ministry has simplified and registration requirements for new refiners, from whom are now required only vigorous activity year instead of three years previously. "Bureau of Indian Standards (Bureau of Indian Standards, BIS) published the approved applications from more than 13,000 licensed jewelers, who will serve as centers to collect and verify the purity of gold, of course, if they are already associated with certified BIS refineries", - noted representatives of the Ministry of Finance in a statement.
India imports about 1,000 tons of gold per year. This precious metal is the second largest to import article after oil. According to various estimates, in the hands of the population is up to 20 000 tonnes of gold.
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