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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

Tracking the provenance and lifecycle of a product is a natural and necessary evolution in our industry

A senior executive with a demonstrated history of working globally at management and board levels, Marcus ter Haar has been the Managing Director at Okavango Diamond Company (ODC), Botswana for about 10 months now, prior to which he held the...

28 may 2018

Petra raises $170 mln to lower swelling debt

15 june 2018

The company’s cash flow generation had been impaired by a combination of factors, which included a strike action in South Africa, a strong Rand, delay in bringing the new plant at Cullinan on stream and an embargo on diamond exports from Tanzania.
Petra chief executive Johan Dippenaar said late last month that the rights issue was in the best interest of its shareholders, positioning the company to reap the benefits of the capital intensive phase by moving the focus to cost efficient production from the new undiluted mining blocks, with a reduced capital spend profile.
Investors were expected to receive five shares for every eight they currently hold at 40 pence each.
The company’s lenders waived covenants for December 2017 and relaxed them for this year’s measurements.

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

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