GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

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

Lonrho Mining Divests From S. Africa Assets

12 october 2009

Lonrho Mining has sold its South African subsidiary companies to New African Mining and African Renaissance Holdings, allowing the company to focus on its diamond concession in Angola, RAPAPORT reported. The deal marks Lonrho’s divestment from non-core diamond assets in South Africa, including its former 80 percent stake in the Schmidtsdrift mine. The agreement also frees Lonrho of an approximate $1.8 million (AUD 2 million) bank debt arising from mining operations at Schmidtsdrift.
“These matters have taken a year to finalize, and it is with a sense of great relief that this particular chapter in the company's affairs - which accounted for most of the accumulated losses - has now ended,” said Miles Kennedy, chief executive officer (CEO) of Lonrho. “Our intention is now to focus upon, explore and hopefully develop the Lulo Diamond project in Angola, which has to rate as one of the world's great diamond exploration projects.”
Lonrho has a 39 percent stake in the Lulo project in a joint venture with Angola’s state run mining company ENDIAMA. The shift of focus to Angola comes after a significant portion of Lonrho’s funds raised during the past year were applied to the South Africa assets or to its failed listing on London’s Alternative Investment Market (AIM). As a result, it built a debt of $388,577 (AUD 430,000) to ENDIAMA for financing exploration activities at Lulo, “which will need to be paid very shortly,” Kennedy said.
Subsequently, Lonrho announced on the weekend that it is seeking to raise $3.6 million (AUD 4 million) in an issue of new shares on the Australian Securities Exchange (ASX) to pay down Lulo commitments, fund exploration and development activities and provide working capital.
“If funds are not immediately forthcoming, we shall miss the opportunity to commence work prior to the onset of the wet season which commences in December. This means that the real work would only be able to start in March 2010,” Kennedy reported.