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Fura Gems tempting India with rubies from Mozambique and emeralds from Colombia

A qualified Chartered Account, Dev Shetty heads Fura Gems Inc as President and CEO, who has recently developed world’s largest emerald mine in Zambia and world’s largest ruby mine in Mozambique. Dev started his career in India but moved to the UK in...

15 january 2018

The Exchange plays a significant role in the global jewellery industry - Li Zhiwei, General Manager, GDGJE

Li Zhiwei, has been engaged in the Gems and Jewellery development management in China’s government department for the past 30 years. He served as Vice Chairman of Gems and Jewelry Association of China for more than 10 years and has effectively pushed...

09 january 2018

Yoram Dvash Hits The Ground Running As Second Term Begins

Having completed his first term in office as President of the Israel Diamond Exchange (IDE), Yoram Dvash sat down with Rough & Polished to discuss his achievements during his first period in office, and plans for the second term following his...

04 january 2018

Eurasian Diamond Center should bring profit and open new prospects and opportunities for all its players

The ALROSA affiliate in Vladivostok established in 2016 was headed by Alexey Ivanov about half a year ago. He was charged with the responsibility for developing business on the company's Far Eastern platform and attracting new customers to the Eurasian...

25 december 2017

NDTC to supply rough worth about $400 m this year

The Namibia Diamond Trading Company (NDTC), a joint venture between the Namibian government and De Beers, said it expects to supply rough diamonds worth $390 million this year. The diamond trader, which has 11 sightholders, had a fixed supply...

18 december 2017

Stellar raises funds for Tongo environmental licences, working capital

14 september 2017
Stellar Diamonds has conditionally raised £330,000 through the issue of 10,1 million new ordinary shares for 3.25 pence per share.
The London listed diamond development company had also proposed to raise up to £200,000 at 3.25 pence each through an open offer.
Subject to completion of the placing, investors participating in the placing would be considered qualifying shareholders for the purpose of the open offer, it said.
Stellar said the net proceeds of the placing and open offer would prioritise payment of the Tongo environmental licence and renewal of the Tonguma environmental licence.
The licences were estimated to cost $250,000.
“Once the Tongo mining licence is issued fiscal terms may be negotiated and ratified via the Sierra Leone Government and Parliament respectively,” it said.
“Furthermore, funds will be allocated to ongoing costs related to the Tongo-Tonguma project in Sierra Leone, general working capital, and the payment of certain existing creditors whilst the company continues to progress debt and equity financing to bring the high grade and high value 4.5 million carat Tongo-Tonguma project into production.”
The Tongo mining licence was approved by the Minerals Advisory Board in Sierra Leone, subject to the payment of the Tongo environmental licence. 
Meanwhile, Stellar said that the disposal of its Guinea projects and assets was “progressing with further due diligence, audit and tax affairs being finalized”.

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

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