The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

Yesterday

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

Lucapa, Equigold amend loan repayment schedule

11 november 2019

news_02072018_lucapa.pngLucapa Diamond and Equigold have amended the repayment terms of the Equigold loan agreement to delay the next repayment, extends the repayment term and reduces the repayment amounts to eight quarterly instalments of $900,000 each.
It said the next repayment has been deferred to 1 April 2020, with the final of the eight scheduled payments now due on 1 January 2022. 
The ASX-listed diamond company would have repaid the outstanding $7.5 million loan balance in 2020 in four quarterly instalments of $1.9 million, commencing on 1 January 2020.
“The amended loan repayment schedule will give Lucapa and its respective project partners additional flexibility in both the scheduling of rough diamond tenders and the sale of select manufactured diamonds under the Group’s cutting and polishing strategy,” said company managing director Stephen Wetherall.
The net effect of the amendments will be to defer until 2021/22 a total of $4.7 million in capital repayments which would have otherwise been payable by Lucapa to Equigold in 2020 under the original Agreement. 
Lucapa used the 2017 Equigold loan to help finance the development of the company’s second highvalue diamond project, the new 1.1 million tonne per annum Mothae kimberlite mine in Lesotho. 

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