Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Newfield recovers diamonds at a grade of 1.05 carats per tonne

01 august 2023

Newfield Resources processed 1,694 run-of-mine ore tonnes at its Tongo Diamond Mine in Sierra Leone during the quarter ended June 30, 2023, and recovered 1,781 carats at a grade of 1.05 carats per tonne.

The Tongo Diamond Mine Development comprises two adjacent mining licences covering a combined area of 134 square kilometres in eastern Sierra Leone.

Tongo hosts 11 identified diamondiferous kimberlites, only five of which are incorporated in the current JORC-compliant indicated and inferred diamond resource estimate of 8.3 million carats.

Newfield, under its subsidiary company Sierra Diamonds, developed the Tongo Diamond Mine into production, achieving its first diamond sale in May 2022 at an average price of $262 per carat.

Meanwhile, the company sold 7,329 carats worth $1.35 million during the post reporting period.

The stones attracted an average price of $184.34 per carat.

It also entered into a non-binding and conditional heads of terms with the Africa Finance Corporation for a $50 million debt financing, subject to satisfactory due diligence and final terms being negotiated.

Newfield further entered into a $15 million loan agreement with shareholder Wonder Holdings to fund the continued development of the Tongo Mine Project into production and ongoing working capital requirements.

Newfield said Liberia exploration work was not conducted pending the processing and results of microdiamond samples in the SRC Laboratory in Canada.

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