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Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

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Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

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Petra Diamonds disposes of stake in Helam Mining

11 december 2018
petra_diamonds_logo.pngPetra Diamonds has sold its stake in Helam Mining to Lindleys Mining for a nominal consideration of R200 ($14.20) with immediate effect to support the South African government’s intention to prolong the lives of mines facing closure.
The Helam mine was put on care on maintenance during the company’s financial year 2015 with no activity having been conducted since then.
The disposal of the mine was in line with Petra’s strategic priorities reviewing its asset portfolio with a view to maximising return on capital.
Lindleys would take on all of the company's environmental obligations with regards to Helam, currently estimated at about R23 million ($1.7 million).
Petra said Helam had the potential to be a small-scale sustainable and economic diamond producer and was better suited to an operator with an owner-manager
approach that was able to solely focus on the optimisation of these assets.

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