Tshepo Molusi: South Africa establishes dedicated diamond retail shop in China

T3 Diamonds founder Tshepo Molusi told Rough & Polished’s Mathew Nyaungwa at the inaugural South Africa Diamond Show in Cape Town that the shop opened an opportunity for diamond manufacturers under the incubation to export their products to China. He...

Yesterday

Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Diamcor raises $1.5 million to advance SA diamond project

22 january 2024

Diamcor Mining is raising C$2 million ($1.5 million) through a convertible loan transaction to continue efforts to boost processing volumes at the company's Krone-Endora at Venetia Project in South Africa, drilling and bulk sampling on the majority of the project, and general corporate purposes.

There is already an estimated total commitment of C$1,25 million ($927 000) from current larger shareholders and the company's management, it said.

The funding will be made up of unsecured convertible promissory notes with a two-year term from the closing date and an annual interest rate of 15%.

Diamcor stated that interest will accumulate over the first year and be payable 12 months after closure.

The principal amount of the notes will be convertible at the noteholder's option into common shares of the firm at any time up to the maturity date at a rate of C$0.10 (US 7 cents) per share.

“While the company plans to continue ongoing discussions with financiers and industry-related parties on additional funding scenarios, which may be beneficial in increasing long-term shareholder value and added growth, the company will not be proceeding with the term loan financing of up to C$5.0 million ($3.7 million) previously announced on October 2, 2023,” it said.

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