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Tag: diamond

  • Cement prices will go up by GHS12 from Friday – Bridget Otoo

    Cement prices will go up by GHS12 from Friday – Bridget Otoo

    Ghanaian journalist turned cement dealer, Bridget Otoo, has entreated Ghanaians to brace themselves for tougher conditions in the construction industry.

    This comes after a notice by Kumasi Cement Ghana Limited (KCG) to the 31-year-old entrepreneur and other cement dealers indicating that effective Friday, March 31, 2023, the prices of cement bags would be adjusted by GHS12.

    “Dear customers, as high inflation persists, the price of cement will be increased by 12 cedis on Friday 31sy March 2023. Cement bought at the old rate must be taken within a month. KCG counts your usual cooperation,” the notice read.

    Cement prices in Ghana have risen on the back of rapid depreciation of the cedi against the dollar. The depreciation has triggered massive inflation, causing the price of cement to increase.

    Ghana’s inflation rate according to the Statistical Service as of February 2023 stands at 52.8%.

    As of January 2022, a 50kg bag of cement was going for GH¢50, but as it stands now, the price has almost doubled (GH¢ 95 – GH¢ 97). This means a 50kg bag of cement will not be going for less than GH¢100.

    The cedi in January 2022 was trading at GH¢6 for a dollar but it is currently trading at about GHS12 at the forex. Since manufacturers have to import some of the raw materials at the current dollar rate, the rise in the cost of importation would have to be borne by the final consumer.

    The yet-to-be realised development may impact the prices of houses in the short term and the personal budget of many individuals who are currently putting up houses in the country.

    It could also affect the cost of ongoing construction projects.

    Below are the current prices of cement bags sold by some cement manufacturing companies:

    Price per 50Kg bag (Ghacem Super Strong 42.5R)- GH¢ 95 – GH¢ 97.

    Price per 50Kg bag (Ghacem Super Rapid 32.5R) – GH¢ 87 – GH¢ 90.

    Price per 50Kg bag (Ghacem Extra 42.5) – GH¢ 72 – GH¢ 95

    Dangote Cement Price- GH¢ 80 – GH¢ 94

    Diamond Cement Price: GH¢ 85 – GH¢ 90

    Cimaf Cement Prices

    Smart Classic – 32.5R – GH¢ 65 – GH¢ 89

    Smart Superior – 42.5R – GH¢ 75 – GH¢ 95

    Ultimate – 42.5N – GH¢ 75 – GH¢ 95

    Source: The Independent Ghana

  • Lulo Rose: Largest pink diamond in 300 years found in Angola

    This rare pink diamond, weighing 34 grams, is thought to be the largest discovered in the last 300 years.

    The 170-carat stone has been named the “Lulo Rose”, after the mine in Angola where it was found.

    It is believed to be the largest pink diamond mined since the 185-carat Daria-i-Noor, which was cut from a larger stone and is now among the Iranian national jewels.

    The Lulo Rose is a type 2a diamond, meaning it has few or no impurities.

    “This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage,” said Diamantino Azevedo, Angola’s minister of mineral resources.

    It is the fifth largest diamond recovered from the Lulo mine – a joint venture between Australia’s Lucapa Diamond Company and the Angolan government.

    Similar diamonds have been bought for tens of millions of dollars in the past, with one – known as Pink Star – selling at a Hong Kong auction for $71.2m (£59m) in 2017.

    But it’s impossible to speculate on how much the Lulo Rose will fetch until it’s cut, said Joanna Hardy, an independent fine jewelry specialist

    Pink diamonds are extremely rare – but the same physical attributes that make the stones scarce also make them very tough, and not easy to work into shapes.

    Hardy said the stone is unlikely to end up in public view – or even brought to auction – as retailers have clients waiting to snap up such a rare find.

    The largest known pink diamond is the Daria-i-Noor, discovered in India, which experts believe was cut from an even larger stone.

    The largest rough diamond of any color ever recorded is the Cullinan diamond, found in South Africa in 1905.

    Weighing 3,107 carats – more than half a kilogram – it was cut into 105 different stones.

    The largest of these – the Cullinan I – is the biggest clear-cut diamond in the world and forms part of the UK Crown Jewels.

  • Angolan mine ‘coughs up’ largest rare diamond unearthed in 300 years

    A diamond believed to be a record find has been discovered in Angola.

    The rare pure pink 170-carat stone has been named ‘The Lulo Rose,’ by the Australian site operator whose workers found it.

    It is said to be the largest rough diamond to be unearthed in 300 years.

    The government issued a statement in which sector minister Diamantino Azevedo is quoted as saying: “This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage for diamond mining.”

    The diamond, found in the Luo alluvial mine in north-eastern Angola, will be sold at international tender by the Angolan state diamond marketing company.

    Similar stones, once cut and polished, have sold for record-breaking prices. The Pink Star, a 59-carat pink diamond, sold for $71.2m in 2017 – the most expensive ever, a BBC Africa LIVE report noted.

    Southern Africa is believed to be rich in diamonds with the last known giant diamond discovered in neighbouring Botswana months back.

    Source:ghanaweb.com