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

Petra Diamonds receives more funding

12 december 2023

Financial services provider Absa has authorised a $40 million (R750 million) increase to an existing $53 million (R1 billion) first-lien revolving credit facility, according to Petra Diamonds.

The increase is subject to the completion of an amendment to the existing facility agreement, but the existing covenants, margin, fees, and maturity date will remain unchanged.

Petra said $45 million (R850 million) was already withdrawn from the facility, leaving $48 million (R900 million) available under the expanded facility.

"Securing this increased facility, coupled with the recently announced capital deferrals and cost optimisation, further improves our resilience and operational and sales flexibility in the event of a weaker-for-longer diamond market," said company chief executive Richard Duffy.

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