Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

Lucapa Diamond defers repayment of $10m loan facility

01 june 2020

Lucapa Diamond has agreed with New Azilian, a company associated with non-executive director and major Lucapa shareholder Ross Stanley, to defer the repayment date in relation to the $10 million one-year loan facility.
It said in addition to the repayment date being deferred from 29 May 2020 to 31 August 2020, interest payments have been changed from quarterly to being payable at the termination date (effective from fourth quarter 2019) and the previous option to convert interest payments to Lucapa shares has also been removed.
No additional fees or penalties are payable by Lucapa under the amended agreement with New Azilian. 

Image credit: Lucapa Diamond

“We extend our sincere thanks and appreciation to New Azilian, Equigold, the Industrial Development Corporation of South Africa and all our shareholders for their continued support of Lucapa’s strategy during this challenging period,” said Lucapa managing director Stephen Wetherall.
Meanwhile, Lucapa has closed the non-renounceable pro-rata rights issue that entitles eligible shareholders to participate on a one for five basis with a free attaching option exercisable at $0.10 each. 
Lucapa intends to use the funds raised from the Rights Issue to advance the search for the primary kimberlite sources of the high-value Lulo alluvial diamonds, preserve mining assets suspended as a result of the COVID-19 pandemic and for general working capital purposes.

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