Lucapa boosts Angola kimberlite exploration with establishment of standalone bulk kimberlite sampling plant

Lucapa Diamond and its Angolan partners are making great strides to improve the Lulo kimberlite exploration programme. Company chief executive and managing director Stephen Wetherall told Rough & Polished’s Mathew Nyaungwa on the sidelines of the Mining...


“In the jewellery art, we express our feelings, emotions and share them with others”

Over 30 years, the MOISEIKIN company based in the Ural area has become a famous jewellery brand. The jewellery and souvenirs of this jewellery house made of precious and semi- precious stones and metals are displayed at museums and in private collections...

20 march 2023

Automatic double upgrade of diamonds is not only a questionable practice but could be systemic fraud – Meeus

HRD Antwerp is under investigation by Belgian authorities following allegations that for every Gemological Institute of America (GIA) stone, which entered their lab for certification an automatic upgrade would be given two colours up and one...

13 march 2023

"At House of Ashish Vijay, diamonds and coloured gemstones will only ever mean stones that carry a storied legacy"

Ashish Vijay, a Dubai-based investor, philanthropist, entrepreneur and businessman with decades of experience in the precious gemstone and luxury jewellery industry, finance and investments sectors, set up his business in Dubai in the year 2013. As the...

06 march 2023

KP should remodel its enforcement, accountability mechanisms if it wants to remain relevant - Fula-Ngenge

The African Diamond Council (ADC) is calling on the Kimberley Process (KP) to remodel its enforcement and accountability mechanisms if it wants to remain relevant and effective. ADC chairperson M’zée Fula-Ngenge told Rough&Polished’s...

27 february 2023

Robex, Taurus ink financing deal to advance Kiniero gold project

30 january 2023

West African gold producer and developer Robex Resources has appointed Taurus Mining Finance Fund No.2 as its exclusive arranger for a funding package of up to $115 million for the development of Robex’s Kiniero gold project in Guinea.
The funding package is comprised of a $35 million bridge facility to be used towards the early site work program and the engineering leading up to a definitive feasibility study (DFS), which is expected to be released in the second quarter of the year.
It said up to $100 million project finance facility would be used to refinance the bridge and fund capital development and working capital costs as well as up to $15 million cost overrun facility to cover unforeseen expenditures above contingencies built-in the current design.
The mandate letter between Robex and Taurus includes term sheets for the three facilities containing customary terms and conditions.
In particular, the bridge is subject to confirmatory due diligence, while the project finance and cost overrun are subject to the release of the DFS satisfactory to Taurus funds.
“We are pleased to move forward with the appointment of Taurus Funds as a potential funding source to accelerate the construction of the project,” said Robex chief executive Benjamin Cohen.
He said they remain on track to deliver their first pour in the first quarter of 2024.

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