Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Lucapa extends closing date for rights issue as volatile market conditions persist

18 march 2020

Lucapa Diamond has extended the closing date for its rights issue from March 20 to March 30 due to the ongoing volatile market conditions. 
The company undertook a non-renounceable pro-rata rights issue early this month to eligible shareholders on the basis of 1 new share for every 14 shares held at an issue price of $0.11 per share to raise up to $2.8 million. 

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Image credit: Lucapa Diamond

 
Lucapa intends to use funds raised from the Rights Issue to advance the Lulo kimberlite exploration programme, in Angola and for general working capital and corporate purposes.
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