Consumers attracted to diamond jewelry more than ever

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

21 september 2020

WDC actively supports initiatives from mine to retail; and also strives for support for the artisanal and small-scale miners - Edward Asscher, President, World Diamond Council

A member of one of the diamond industry and Amsterdam’s most well-known families, Edward Asscher was elected President of the World Diamond Council in June 2020 for a two-year term. Asscher is serving a second time as WDC President, having led the organization...

14 september 2020

Diamonds are one of the few things that have held human fascination in every nook and cranny of the world across time

Dr Usha R. Balakrishnan, a preeminent historian of Indian jewellery based in Mumbai, is Chief Curator of the World Diamond Museum. Being the author and co-author of several volumes of Diamonds Across Time, a new book and an important venture launched...

11 september 2020

Botswana Diamonds to bulk sample KX36 kimberlite, sees commercial potential

Botswana Diamonds recently acquired Petra Diamonds’ exploration assets in Botswana for $300000. The assets that were owned by Petra through its wholly-owned Sekaka Diamonds Exploration, include the KX36 project, a 3.5 hectare kimberlite that was a new...

07 september 2020

Indian diamond industry looks for recovery options

Webinars being the order of the day due to COVID-19 crisis, the Gem & Jewellery Export Promotion Council (GJEPC) of India organized a virtual meeting under its UNCUT 2020 Webinar series on 17 August 2020, inviting all stakeholders to discuss...

31 august 2020

Stellar receives $3m from NWF for Tongo-Tonguma project advancement

14 february 2018
Stellar Diamonds said it received an unsecured $3 million loan from Newfield Resources (NWF) which will be used for the commencement of work on the front end engineering design stage of the mine plan for the Tongo-Tonguma project and mine plan drilling.
The company said it remained unchanged that Australian exploration company had at this time received support for the possible offer from its shareholders and directors representing, in aggregate, 29.80 percent of Stellar’s issued share capital.
“Whilst the negotiations with NWF are very advanced at this stage and this announcement has been made with the approval of NWF, there can be no certainty that any offer will be made for the company nor as to the final terms of any offer,” it said.
Stellar recently reported that it was in advanced negotiations regarding a possible share offer for the entire issued and to-be-issued share capital of the company by NWF.
Under the terms of the offer, Stellar's shareholders and the holders of rights over its ordinary shares would receive in aggregate 95.5-million shares in NWF, which would equate to about 16.4 percent of the enlarged share capital of NWF.
The offer seeks to merge the business interests of NWF and Stellar in Sierra Leone and bring the needed funding to advance the high-grade and high-value Tongo-Tonguma project, which Stellar holds through its own licences and the tribute mining and revenue share agreements with Octea Mining.

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