Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

Diamcor seeks financing to support increased processing volumes at SA project

08 july 2019

news_10082018_diamcor.jpgDiamcor Mining intends to complete a term loan financing of up to CDN$1 million and has received an initial commitment of CDN$500,000 from one of its largest investors, along with expressions of interests from several other parties. 
Proceeds from the loan will be used for general corporate purposes, the deployment of additional operational equipment to support increased processing volumes, the continued advancement of the work programmes currently underway at the Krone-Endora at Venetia Project, in South Africa.
It will also provide the company with additional working capital to offset the time frames associated with the tendering and sale of rough diamonds in Antwerp. 
Term loans under the financing, including the initial term loan, will be unsecured, carry an annual interest rate of 7% payable at maturity.
Diamcor will issue 120,000 common shares in its authorised share capital, along with 60,000 share purchase warrants, for every CDN$100,000 of principal advanced under the financing.
The term loan transaction is subject to regulatory approval of the TSX Venture Exchange along with completion of all definitive documentation and filings as required. 

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