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Lucapa to become a niche diamond company, says Wetherall

Lucapa Diamond believes that it will become the only company in the world with multiple diamond mining operations whose average diamond value is in excess of $1,000 per carat, once the Mothae mine is commissioned this year. Company chief executive and...

Today

Zimnisky: Diamonds lack fungibility to be a major investment product

Physical diamonds will never be a viable widespread investment product simply because they inherently lack fungibility, meaning they are all unique, according to Paul Zimnisky, an independent diamond industry analyst and consultant, who is based in New...

12 february 2018

Julien-Vincent Brunie: "Being surrounded by beauty and art is a privilege!"

This last December, shortly before Christmas, the Auction House of Christie's arranged a private display of jewelry in Moscow. The correspondent of Rough & Polished, who had an opportunity to visit this event, was able to admire a luxurious collection...

05 february 2018

Ali Pastorini: We would like meeting Mujeres Brillantes 2018 to be held in Russia

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 500 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

29 january 2018

Diamond Exchanges promote healthy development of the diamond industry, besides safe and basic infrastructures for diamond trade

Prior to joining the Guangzhou Diamond Exchange, Liang Weizhang served as a civil servant of Guangdong Entry-Exit Inspection & Quarantine Bureau as the director of the Kimberley Process Office. He participated in the KP Review missions to South Africa...

22 january 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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