First Diamonds from Sierra Leone’s Tongo Mine Coming to Market
Australian company Newfield Resources is developing the mine and will sell its production through Bonas Group in Antwerp.
Newfield Resources Ltd., the company developing the mine, announced in late April it had inked an exclusive diamond sales and marketing agreement with Bonas for the mine’s production.
Via its partnership with Bonas, Tongo goods will be tracked from mine to market using Sarine Technologies’ traceability program, Newfield said.
The mine, which has been in the works for more than decade, is “well known for its high-quality material,” Bonas said.
Tender viewings of the Tongo material will take place on the first floor of the Bonas Group offices in Antwerp between May 16 and 20.
The sale is scheduled to close May 20 at 1 p.m. CET/7 a.m. EDT and will be an online, highest bid tender on Newfieldbids.com.
Bookings for the tender are invitation-only, but requests can be submitted to Bonas Antwerp. Interested clients are requested to call the office at +32 (0) 3233 7080.
Based in Australia, Newfield has been developing the Tongo Diamond Project since 2018, when it acquired the site from Stellar Diamonds.
The project comprises two adjacent mining licenses covering a combined area of 134 square kilometers (about 52 square miles) in eastern Sierra Leone with five primary kimberlite pipes.
The first two pipes Newfield will mine have been dubbed Kundu and Lando.
Newfield said processing from the underground and surface at Kundu continues to yield “encouraging results,” with a high proportion of what’s recovered turning out to be gem-quality diamonds.
It is believed Tongo will produce 8.3 million carats of diamonds over the span of its life, including an indicated and inferred resource of 3.03 million carats at Lando and 2.76 million carats at Kundu.
Newfield employed 200 people at the mine as of March 31, including graduate trainees, contractors, and interns. Of the 200, 166 (83 percent) are local Sierra Leonians and 128 (64 percent) have permanent employment contracts, it said.
Twelve percent (about 20 people) of the local employees are women. Newfield said it intends to increase the number of women working at the mine, in line with its diversity policy.
In addition to Tongo in Sierra Leone, Newfield is conducting diamond exploration in neighboring Liberia via two licenses covering 670 square kilometers (about 259 square miles), known collectively as the Kumgbo Kimberlite Project.
Expected to earn up to $4.5 million, the “Jarretière” bracelet is the star of Christie’s “The Magnificent Jewels of Anne Eisenhower” sale.
With jewelry sales coming down from their pandemic highs, retailers need to do all they can to retain existing customers, Peter Smith says.
Jewelry historians, authors, and experts will explore the works of Tiffany & Co., Oscar Heyman, Verdura, and more.
Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.
Johnson joined the retailer in 1987, establishing its first human resources department.
Supplier Spotlight Presented by IGI
The industry gathered to celebrate those who elevate the jewelry and watch industries.
De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.
At JSA’s annual luncheon, President John J. Kennedy said the organization recorded more than 2,000 cases last year.
It highlights Gabrielle “Coco” Chanel’s lasting influence on modern design.
Jewelers of America’s Amanda Gizzi explores the qualities and accomplishments that make this year’s Gem Award nominees shine.
Here’s what the nine chosen organizations plan to do with the funds.
The designer is nominated for a Gem Award for Jewelry Design.
The jewelry giant’s full-year sales were essentially flat, brought down by fourth-quarter declines.
In its recent results, the company highlighted non-bridal jewelry sales and said its “inventory-light” showroom model may change.
See 15 fabulous pieces from the 2023 Gem Award for Jewelry Design nominees: Anita Ko, Kirsty Stone, and Ron Anderson and David Rees.
The new Cal. E365 movement doubles the running time of the current Eco-Drive models.
The mood is bullish as more companies get into the business despite the dramatic drop in lab-grown diamond prices.
Hari Krishna Exports and the Dholakia Foundation’s “Mission 100 Sarovar” aims to create 100 lakes to help revive an area of Gujarat.
The educational resource will highlight the positive impact diamonds can make on their journey from mine to market.
Australian mining company Burgundy Diamond Mines announced plans to buy the mine in a deal valued at $136 million.
A 17th-century gold seal ring and an 18th-century memento mori ring met or exceeded estimates at a recent Noonans auction.
They will be recognized at the organization’s annual luncheon this weekend in New York City.
Sherry Smith breaks down the results so far this year, including which categories are the sales standouts and which are struggling.
The 1,000-year-old find is now on display in the Dutch National Museum of Antiquities.
More than 200 exhibitors are scheduled for the May 11-14 event.
Gove, who has more than a decade of experience in the diamond industry, is Opsydia’s new sales and marketing director.