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Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

Paul Zimnisky, an independent diamond industry analyst and consultant, said it will be very difficult for the lab-diamond manufactures to protect price as production processes and economics improve. He told Rough & Polished’s Mathew Nyaungwa in an exclusive...

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James Campbell: Scoping study results for SA’s Thorny River due mid-year

Botswana Diamonds appeared to have expended most of its energy and resources last year on the new Thorny River project in South Africa as its Sunland Minerals joint venture with Alrosa, in Botswana takes long to find diamonds despite significant effort...

16 april 2018

MGCJ founder Branko Deljanin: Production of synthetic diamonds is still larger than consumption

Founder and Chairman of the Mediterranean Gemmological and Jewellery Conference, MGJC, Branko Deljanin kindly agreed to answer questions from Rough&Polished related to synthetic diamonds and the upcoming 4th session MGJC in May in Budva, Montenegro.

09 april 2018

There is some magic in a diamond

Alexander Gorynya is a Director General of the St. Petersburg-based Kongo jewellery company. He is a Chairman of the Union of North-West Jewellers. In 1978, he graduated from the North-Western Extramural Polytechnic University. Since 1983, he worked...

02 april 2018

Looking for the Kimberley Process achieving further and meaningful sustainable progress

On March 7, 2018, the United Nations General Assembly welcomed the progress made by the Kimberley Process Certification Scheme to break links between the diamond trade and conflict and adopted a consensus resolution aimed at intensifying that work aligning...

26 march 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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