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

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