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In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

Jeweler-Designer Arnaud Flambeau started his career in the jewelry business in 1993 at European Gold Company CLAL as Key Account Manager for the Jewelry Division, where he was in charge of international brands like Cartier or VCA and their subcontractors...

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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

Scio Diamond to Up Synthetics Production

17 july 2017
Lab-grown diamond producer Scio Diamond Technology Corporation will boost its output of synthetic rough diamonds over the summer, following a recent restructuring of its debt.
“We’ve made significant progress with our white diamonds recently, and I am excited by the rapid growth we are seeing in the market,” CEO Gerald McGuire said. “Our customer base has recognized these improvements and are creating stunning gemstones from our rough.”
Last year saw ongoing losses for the South Carolina-based company, which noted in August that its low revenue to date was putting its operations at risk. This past March, it said that despite monthly sales improvements, the company had yet to achieve profitability.
Last week, however, it announced that it had restructured its debt through Heritage Gemstone Investors (HGI) and would receive further funding.
The agreement extends Scio Diamond’s note maturity by one year to December 2018, according to the company. It also offers the company relief on interest payments and gives it access to additional HGI funds.
“Our board and lender, HGI, recognize the incredible opportunity we have before us, and I believe this announcement demonstrates their support of the company’s efforts,” McGuire said, adding that the company “expects to ramp up its production of white diamonds over the summer months.”

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