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

Star Diamond Corporation to acquire Rio Tinto's 75% interest in Fort à la Corne diamond project

31 january 2024

Star Diamond Corporation announced on 28 January 2024 that it has entered into a binding agreement with Rio Tinto Exploration Canada (RTEC) for the transfer of RTEC’s 75% interest in the Fort à la Corne diamond project located in central Saskatchewan.

“Acquiring 100% ownership of the Project will be a major accomplishment for Star Diamond and its shareholders. We are grateful to Rio Tinto for the significant monetary investment and expertise it has contributed to the Project over the past more than five years, which has meaningfully advanced what Star Diamond believes is one of the most promising diamond projects in the world,” said Ewan Mason, President and Chief Executive Officer of Star Diamond.

Rio Tinto Head of Exploration, Dave Andrews said, “The majority of Rio Tinto’s global exploration program is now firmly focused on metals and minerals to support the energy transition. Although we will no longer have direct involvement in the Project, we are pleased to be able to maintain our interest in the Project by gaining a 19.9% ownership interest in Star Diamond. After more than five years, we continue to see potential in the Project and believe it can be a significant contributor to both the local communities around the Fort à la Corne property and the broader Saskatchewan economy.”

Upon completion of the transactions that are the subject of the Agreement, Star Diamond will have full control and responsibility for the Project, the existing joint venture agreement between RTEC and Star Diamond will terminate, and Star Diamond will release and indemnify RTEC for liabilities arising from or relating to the Project, all in exchange for a Cdn. $4 million payment from RTEC to Star Diamond.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished