Gaetano Cavalieri: We need to protect the long-term health of our industry

The World Jewellery Confederation (CIBJO) represents the entire jewelry industry embracing a whole variety of companies, from those mining precious metals and gems to those, which are manufacturing and selling final products. The confederation...

23 march 2020

Sierra Leone mulls setting up entity to buy diamonds from artisanal miners

Sierra Leone will revise its Mines and Minerals Act that will, among other issues, pave way for the establishment of a State entity that can buy diamonds from artisanal miners, an official has said. The National Minerals Agency of Sierra Leone director-general...

16 march 2020

David Block, CEO of Sarine Technologies believes that AI will play a bigger role in the industry in the next few years

Armed with an MBA degree from the Kellogg-Recanati School of Business, and a Bachelor's degree in Computer Science from the Tel Aviv-Jaffo Academic College in Israel, David Block is the present CEO of Sarine Technologies, a worldwide leader in the...

10 march 2020

Botswana wants to fully participate in research and development led by De Beers

Although the government of Botswana has refused to review its latest demands from the ongoing negotiations for a new sales and marketing deal with De Beers, it has indicated its desire to fully participate in research and development led by the diamond...

02 march 2020

High-tech trend is most promising for industries using diamonds

Synthesis Technology is a leading diamond producer in Russia. The company produces carbon single crystals - lab-grown diamonds and single-crystal wafers. The diamonds completely identical to natural ones are ‘grown’ at the laboratory using advanced HPHT...

25 february 2020

Lucapa raises $2.8m to advance Lulo kimberlite exploration

04 march 2020

Lucapa Diamond has received applications for a $2.8 million share placement to advance the Lulo kimberlite exploration programme, in Angola as well as for general working capital and corporate purposes. 
The placement, it said, involves the issue of 25,8 million new shares an issue price of $0.11 per share to sophisticated and professional investors. 

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                      Image credit: Lucapa Diamond


The issue price represents a discount of approximately 13% to the volume weighted average price of Lucapa shares during the previous 30-day trading period.
The kimberlite exploration programme aims to discover the hard-rock primary source or sources of the high-value alluvial diamonds that Lucapa and its partners have been mining in the Cacuilo River valley for the past five years. 
Lucapa previously funded the kimberlite exploration programme from its share of distributions and loan repayments from Lulo alluvial mining company, Sociedade Mineira Do Lulo.
SML has self-funded a $12 million expansion of the alluvial mining operations in 2019 and the first quarter of 2020, reducing its available free cash to also declare dividends during this period. 

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