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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

Lucapa raises $16.5 mn to advance diamond projects

10 april 2018
Lucapa Diamond has raised $16.5 million from a new cornerstone investor and existing shareholders to advance its diamond projects and continue delivering on its growth strategy.
It said in a statement that the placement would help it to “immediately launch” an extensive follow-up exploration program, including further drilling, at the Brooking diamond discovery in Western Australia’s West Kimberley region.

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Image credit: Lucapa Diamond Company  


Lucapa also said that the funding package was positive as it positioned the company to be a first mover in Angola as the country’s new president seeks to attract foreign direct investment by addressing key investment hurdles.  
“It provides a working capital buffer for the high-value Mothae diamond mine development and early bulk sampling program in Lesotho, which remains on budget and on schedule for commercial production in H2 2018,” said Lucapa.
The funding helped remove a perceived overhang in Lucapa shares associated with project funding concerns and enabled it to launch a buy-back of unmarketable share parcels held by more than 1,300 individual shareholders.
Meanwhile, Lucapa and its local Angolan partners were formulating a growth strategy at Lulo, to build on the “successful” alluvial mining operations and kimberlite exploration venture, said the company.
Lucapa had been operating in Angola for 10 years.
It recovered a 404 carat stone at the Lulo project, the biggest diamond ever unearthed in Angola.

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

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