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

DiamondCorp inks $34 mln loan deal with IDC

22 may 2012

Diamondcorp’s 74 percent-owned Lace Diamond Mines has entered into an R280 million ($33.6 million) loan term sheet agreement with the Industrial Development Corporation (IDC) for the underground development of Lace mine, in South Africa and the purchase of mining equipment.
DiamondCorp said in a statement that term of the loan was expected to be 7 years.
"The key driver for management in seeking funding for the Lace mine development has been to find the optimum financing method which is the least dilutive for shareholders,” said DiamondCorp chief executive Paul Loudon.
"Therefore, we are delighted that we and our BEE partners have been able to agree in principle a debt financing proposal from the IDC to provide over 98 percent of the estimated capital required to establish a block cave development on the 47 level at the Lace mine."
The mine was operated from 1896 to 1931, and it produced about 700,000 carats of diamonds from 4.5 million tonnes of kimberlite at a recovered grade of 16 carats per hundred tones (cpht).
The production was reported to be high quality white diamonds, with the biggest stones recorded historically being 122 and 86 carats.

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