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Pavel Vinikhin: ALROSA will make a worthy contribution to the revival of the ‘Russian Cut’ Brand

ALROSA is known as the largest diamond mining company throughout the world. However, not everyone is aware that it has its own diamond-cutting division. For a long time, the activity of DIAMONDS ALROSA remained in the shadows, only occasionally attracting...

16 october 2017

William Lamb: Lucara now knows best routes to market large stones

Lucara Diamond recently announced that Graff Diamonds had bought its 1,109 carat diamond Lesedi La Rona for $53 million. The stone, which is the world’s second largest diamond found since the discovery of the 3,106-carat Cullinan diamond in 1905, failed...

09 october 2017

GSI was the first in the world to begin testing of smaller size diamonds in bulk and has never looked back since - Mark Gershburg

With more than 30 years of experience in the gem lab sector under his belt, Mark Gershburg is an industry veteran widely popular in the global gem and jewelry industry. He began his career in 1980 as a grader but his professionalism, creativity, and...

02 october 2017

Gaetano Cavalieri: Over the long term, demand for diamonds is likely to grow at a steady pace

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

25 september 2017

“I am bullish on the future of the diamond business. Three reasons for this optimism... new discoveries, extending mine life and the increasing demand for diamonds”, says Martin Leake

Martin Leake is a PhD exploration geologist and Six Sigma black belt who has been involved in the rough diamond market since 2004. He worked for BHP Billiton for 22 years and recently left Grib Diamonds where he helped set up a world-class marketing...

18 september 2017

Lucapa secures $15 mln debt financing facility for Mothae

12 october 2017
Lucapa Diamond has secured a $15 million debt financing facility to bring its “high-value” Mothae kimberlite diamond project, in Lesotho into production in 2018.
Company managing director Stephen Wetherall said the financing facility enabled Lucapa to meet one of its key strategic objectives of growing diamond production in the large and “premium-value sector” – a segment of the global market where sales and pricing had remained strong.
“This facility is a significant result for Lucapa and its shareholders. It ensures that the Company, together with the Government of Lesotho, will bring Mothae on stream in 2018, adding a second cash producing asset and high-value producing mine to the group that will complement the top-quality diamond production from Lulo,” he said.
The three-year debt facility was arranged with a private Singaporean company, Equigold and it would be repaid in eight quarterly payments commencing December 2018 when Lucapa expects Mothae to be in steady state production under its first phase development plan.
It also carried an annual interest rate of 13 percent and other fees customary to a facility of this nature.
The facility includes a provision for Equigold, at their election, to convert the last two scheduled quarterly payments, totalling $3.75 million, into ordinary shares in Lucapa.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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