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 acquires Merlin Diamond Project

25 may 2021
Lucapa Diamond has entered into a binding asset sale agreement for the acquisition of a 24km2 mining lease (MLN 1154) and a 283km2 exploration tenement encompassing the Mining Lease (Merlin Tenements) and associated equipment and assets (Merlin Assets) from Merlin Operations, a wholly-owned subsidiary of Merlin Diamonds.
The Merlin Tenements are located in the Northern Territory of Australia, about 720km south-east of Darwin. 
 “This is a strategic acquisition for Lucapa which represents a value-accretive and logical step in Lucapa’s production strategy,” said company managing director Stephen Wetherall. 
“The project is well known for being Australia’s large stone producer and is a strong complementary fit with the company’s two existing niche productions in Africa that are set to produce solid returns for Lucapa in 2021.”
The 300km2 tenement package also comes with significant exploration upside through over 70 unresolved anomalies in areas where all kimberlite discoveries have been diamondiferous.
Lucapa is required to pay the purchase price to Merlin Operations in respect of the Merlin Assets of about A$7.4m in cash and will also replace A$1.1m financial security relating to the Merlin Tenements with the Department of Industry, Tourism and Trade in the Northern Territory.
It said the cash outlay of about A$8.5 million in aggregate represents an attractive A$2/ carat multiple on Merlin Operations’ existing 4.4 million carat resource. 

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