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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Newfield to raise $17.6 mln for ongoing Tongo diamond mine development

30 october 2023

Newfield Resources is offering eligible shareholders the chance to buy up to 117.6 million fully paid ordinary shares in the company, raising around $17.6 million to fund the Tongo diamond mine's ongoing mine development and production ramp-up in Sierra Leone.

One option, exercisable at $0.25 per share, shall be appended to each of the two new shares acquired under the entitlement offer.

“We are pleased to offer eligible shareholders the opportunity to participate in this capital raising, which will help progress the ongoing development and production at the Tongo diamond mine over the next six months as we work towards concluding the proposed debt financing arrangements with the Africa Finance Corporation (AFC),” said company executive director Karl Smithson.

“The funds from the entitlement offer will enable the company to continue a number of development workstreams that will lead to increased production and processing capacity at the Tongo diamond mine.”

He said they are also planning to conduct detailed mine planning, scheduling, and budgeting of the Tongo Dyke-1 resource with a view to bringing the deposit into the future mine plan.

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