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...

16 april 2024

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

URA raises £1 mln to resume operations at SA emerald mine

23 november 2023

URA Holdings has completed an accelerated bookbuild to raise £1 million ($1.25 million) to resume operations at the Gravellotte emerald mine, which it owns 74% of in the Limpopo province of South Africa.

The capital was generated through the issuance of 80 million additional shares, each priced at 1.25 pence.

In addition to general working capital, the proceeds will be utilised for the acquisition and installation of the remaining capital items, the majority of which are associated with the processing facility and its commissioning.

It is anticipated that mining and refining operations will resume, leading to the initial production of emeralds during the initial quarter of 2024.

URA chairperson Ed Nealon said despite the unusually difficult market conditions, new investors helped to complete the placement.

"Following the completion of the placement, we can now focus on completing the mine and processing plant refurbishment, commissioning, and restarting of emerald mining and processing at Gravelotte," he said.

Gravelotte was operational from 1929 to 2002 and is historically one of the largest emerald mines in the world.

The company acquired the mine in February of this year.

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