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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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Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
Newfield secures $55 mln to develop Sierra Leone’s Tongo diamond mine
The funding allows the company to access the equity capital over 36 months to fund the ongoing expansion of the mine.
Newfield will issue an initial placement of 1,453,488 shares to the investor at an issue price of $0.344, raising $500,000 before costs upon signing the facility agreement.
“We are very pleased to have the support of a high-quality, independent global investment group,” said company executive director Karl Smithson.
“This partnership enables Newfield to expedite the development of its Tongo diamond mine and advance the project into commercial production.”
The funding facility will allow flexibility on the timing of any placement to raise capital but will not oblige Newfield to proceed with any placement.
The flagship Tongo diamond project entered production earlier this year with carats mined from underground and surface locations contributing to the first production sale of more than 5,000 carats in Antwerp in May 2022, at a sales price of $262 per carat.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished