ASX-listed Newfield Resources has secured a A$55-million funding facility to advance its Tongo diamond mine, in Sierra Leone, towards commercial production. The company on Wednesday said that the funding facility would provide Newfield with access to committed capital, allowing flexibility on the timing of any potential capital raise, but would
Mining & Exploration
Junior mining and exploration company Diamcor Mining says in its management discussion and analysis for the quarter ended June 30 that, while progress continues to be made globally to reduce the impacts of the Covid-19 global pandemic, its focus during the period continued to be on managing costs and supply
Israeli mining billionaire Beny Steinmetz will begin his battle this week to overturn his bribery conviction and repair a reputation tarnished by a landmark Swiss ruling that focused on an industry dogged by allegations of graft. Steinmetz, who built his fortune as a diamond trader, will return to Geneva for
Commenting on an article published in the New York Times that says the US and other western countries are taking action that could officially label Russian diamonds as “conflict diamonds,” Russia’s Ministry of Finance said that Russia “has always been and remains an exclusively responsible participant in the Kimberley Process,”
The panic that gripped the diamond world this year is starting to unwind as sanctioned Russian mining giant Alrosa has quietly revived exports to near pre-war levels. Alrosa accounts for about a third of global rough-diamond supply, and the $80-billion industry was thrown into turmoil as cutters, polishers and traders
India, which cuts or polishes about 90% of the diamonds sold in the world, is ramping up sales of laboratory-made gems as demand from the US surges and they become more accepted in other markets. Exports of polished lab-grown diamonds may double in the current financial year started April 1
