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

Namakwa Diamonds lowers FY 2012 production target

11 april 2012

Namakwa Diamonds has reduced its financial year (FY) 2012 production target for the Kao Mine, in Lesotho to 170 000 carats due to operational challenges.
Namakwa announced in February that challenges related to the secondary crushing circuit for the 500 t/h processing plant at Kao had restricted the short-term processing of high-grade K6 ore during the ramp-up stage to Phase 1 commercial production.
As a result, the secondary and tertiary crushing circuits had been reconfigured, with two new cone-crushing units purchased.
The first unit was installed in late March and the second would be installed in June.
Meanwhile, the London-listed miner said that it had also entered a new $10-million loan facility with investment group Sputnick.
This comes after management had concluded that the previously agreed loan from shareholder Jarvirne would be insufficient to meet its short-term funding requirements.
Operational challenges at Kao mine, as well as the delayed execution of a potential sale of noncore assets and continued discussions with Kimberlite Investments Lesotho regarding the payment for its 12.5 percent share in mining contractor Storm Mountain Diamonds had also pushed Namakwa to get the new loan.
Sputnick would make the credit facility available to Namakwa until May 31, provided that no further amounts were drawn under the $40-million Jarvirne facility and a refinancing plan was established to determine the short-term goals of the company's borrowings.
Namakwa had to date drawn $33.2-million from the Jarvirne facility and a further $2-million was made available on April 5, following the grant of a waiver by Jarvirne of all conditions precedent to drawdown and the entry into the new loan.

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