Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 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