China's huge luxury consumer market is making many luxury goods covet. Diamonds are certainly no exception. According to Hong Kong media reports, Sierra Leone diamond miner Octea, a West African country, plans to go public in Hong Kong in the second half of this year, and estimates that it will raise US$1 billion and convert it to HK$7.8 billion. Sierra Leone is widely known for its 2006 film Blood Diamond. It is said that 65% of the world's diamonds are produced in Africa, and Sierra Leone is rich in diamonds. According to public information, Sierra Leone's diamond reserves are more than 23 million carats. Octea's first diamond project, Koidu, plans to produce 550,000 carats of diamonds a year, and the famous American jeweler Tiffany is also a major customer. The report quoted Octea CEO JanJoubert as saying that in support of other project development, $1 billion will be needed in the next five years. JanJoubert's project base in Kono, east of Sierra Leone, said that Sierra Leone's diamond mining still has great potential, and the company will develop at least two new mines in the future, with an annual output of 2.5 million carats of diamonds after five years. Octea's parent company is a private company BSG involved in resources, real estate and other fields. BSG Chairman Beny Steinmetz is the second richest man in Israel. The profit of mining diamond mines exceeds the "crazy iron ore". The above report quotes JanJoubert as saying that Koidu currently costs about US$42 per ton of ore, but it can generate about US$187 per ton, while the new plant can process 180 tons of ore per hour, “even if the price of diamonds falls by 60%. Our profits can still continue to operate." In the last two years, the price of diamonds has not only declined, but has continued to climb, mainly due to the huge demand for diamonds in the Chinese market. Since 2009, China has been ranked as the second largest diamond consumer market in the world for three consecutive years. With the arrival of the “80s†young people’s wedding peak, the demand for diamonds is increasing. CEOAri Epstein of the World Diamond Center in Antwerp, Belgium, predicted in the interview with China Business News earlier this year that China is likely to become the world's largest consumer of diamonds in 2016. In the past two years, the rise in diamond prices has not hindered the growth of consumption. According to public data, the total import and export transactions of diamonds in the four diamond exchanges of Belgium, Antwerp, Tel Aviv, India, Mumbai and Shanghai, China, were 56.5 billion US dollars, 20.8 billion US dollars, 63 billion US dollars, and 4.7 billion US dollars, respectively, an increase of 35%. 23%, 16%, 63%. Rgb Led Spotlight,Led Video Curtain Lighting,Dimming Led Downlight, Led Spotlight Shen zhen SH LED Technology Co.,Ltd , https://www.pixellightsolution.com
Diamond miner Octea expects to go public in Hong Kong in the second half of the year
Abstract China's huge luxury consumer market is making many luxury goods covet. Diamonds are certainly no exception. According to Hong Kong media reports, the West African country Sierra Leone diamond miner Octea plans to go public in Hong Kong in the second half of this year...