Lithoquest Diamonds Inc. (TSX-V:LDI) operating in Western Australia provided a corporate update on 30 July providing details about the company’s New Project Initiatives through a press note.
According to the update, funding for diamond exploration has become increasingly difficult to secure due to challenging conditions in the overall diamond industry.
As a result, the mining Company has placed the North Kimberley Diamond Project on care and maintenance until financing conditions improve.
In order to build value, Lithoquest along with its advisors, has commenced a process to actively review mineral projects. The objective is to secure, through acquisition or joint venture, one or more projects that offer significant discovery potential. Preference is being given to projects located in stable jurisdictions, containing gold and copper, however, other mineral commodities are also being considered. The Company will provide further updates as appropriate.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Exclusive
Mmetla Masire: Okavango to resume diamond sales in January
Botswana’s state-owned Okavango Diamond Company (ODC) is set to resume diamond sales in January 2025, whether the market remains depressed or not. ODC managing director Mmetla Masire told Rough & Polished’s Mathew Nyaungwa on the side-lines of...
Today
Helga Pombal: Angola's Stardiam finds solution to the threat posed by lab-grown diamonds
Stardiam manager of production Helga Pombal told Rough&Polished's Mathew Nyaungwa on the sidelines of the Angola International Diamond Conference that lab-grown diamonds are creating a parallel market for more accessible stones, combined with lower...
11 november 2024
Ellah Muchemwa: ADPA to launch Africa's first diamond mining standard next year
The African Diamond Producers Association (ADPA), which is based in Luanda, Angola, and represents the interests of mainly African diamond producers and those with the potential to produce diamonds, will next year launch the Sustainable Development...
04 november 2024
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
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...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
