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ABN Amro to Cease Hong Kong Diamond Lending
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Dutch bank ABN Amro will close its Hong Kong diamond business in a major trimming of its global operations.The company is shutting the branch from which it lends to the local polished market, as part of a retreat from...
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Financial-Legal
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Aug 13, 2020
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Joshua Freedman
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Mountain Province Investor to Buy $50M in Rough
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Mountain Province plans to sell $50 million worth of rough diamonds to an entity owned by one of its major shareholders, generating liquidity amid weak prices.The first sale of $22 million in diamonds to Dunebridge Worldwide will take place...
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Mining
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Jun 09, 2020
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Rapaport News
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Pressure on Diamond Midstream Likely to Increase
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Diamond manufacturers will consolidate in the coming years to avoid being further squeezed by miners and retailers, Bain & Company predicted in its annual report on the industry.The forecast stems from the midstream becoming anincreasingly...
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Polished Markets
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Dec 12, 2019
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Joshua Freedman
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ABN Amro Restricts Rough-Sector Lending
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ABN Amro has scaled back its financing of rough-diamondpurchases, citing a lack of profitability in the manufacturing and tradingsectors.The Dutch bank, which mainly lends to rough dealers, will only offer credit without proof of onward sale...
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Financial-Legal
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Jul 15, 2019
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Joshua Freedman
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India’s ICICI Bank Exits Antwerp
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India’s ICICI Bank will shut its branch in Antwerp onMarch 29, becoming the latest lender to quit the Belgian diamond market. The move followed a strategic review of ICICI’s businessoperations in the country, a spokesperson for...
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Financial-Legal
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Jan 09, 2019
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Rapaport News
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AWDC, De Beers Mull Blockchain Partnership
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The Antwerp World Diamond Centre (AWDC) is in discussions withDe Beers about a potential blockchain venture, the Belgian trade organizationsaid last week.An AWDC study last year concluded that blockchain couldincrease transparency and confidence...
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Technology
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Dec 18, 2017
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Rapaport News
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Erik Jens Steps Down as ABN Amro Diamond Chief
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ABN Amro’s diamond and jewelry division will become partof its trade-and-commodity finance business under a restructuring that has seenthe Dutch bank appoint a new global head for its precious-stones unit.Geert van Reisen...
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Financial-Legal
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Dec 03, 2017
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Rapaport News
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Diamond Congress Zooms In on Lending
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Financing was the focus of the second day of the WorldDiamond Congress in Dubai as bankers and industry leaders called fortransparency and careful financial management in the trade.The need for the diamond business to improve working...
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Financial-Legal
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May 19, 2016
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Rapaport News
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Diamond Financing Seminar to be Held in Dubai
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The DubaiDiamond Exchange (DDE) will host a seminar Tuesday aimed at raising awarenessof financing options and how Dubai’s financial sector can support the industry.The secondDubai Diamond Finance Seminar (DDFS) will be held May...
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Polished Markets
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May 16, 2016
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Rapaport News
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Dubai Diamond Exchange Sets Financing Seminars
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The Dubai Diamond Exchange (DDE) will hold an inaugural series of seminars to raiseawareness of diamond-financing options and explore ways in which the emirate’s trade infrastructureand financial institutions can support the industry.The first of three Dubai...
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Financial-Legal
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Oct 08, 2015
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Kennady Diamonds Announces CAD4M Non-Brokered Private Placement
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Kennady Diamonds Inc. raised approximately CAD $4 million ($3.1 million) through a placement of common shares at a price of C$3.40 per common share, according to a company statement. The Company’s major shareholder, Bottin (International) Investment Ltd., has...
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Shore Gold Raises $2M in Private Placement
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Shore Gold Inc. raised $2 million at the close of its private placement of 10 million units at 20 cents each. Each unit consisted of one common share and one common share purchase warrant, whereas each warrant entitles...
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Financial-Legal
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Jun 15, 2015
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Jeff Miller
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TrueFacet Raises $5M
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TrueFacet Inc., an online marketplace for pre-owned jewelry and watches, raised $4.79 million in equity financing on June 8, according to a filing with the Securities & Exchange Commission. The amount includes the conversion of certain indebtedness...
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Financial-Legal
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Jun 12, 2015
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Jeff Miller
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Firestone Diamonds Secures $15M Stand Debt Facility
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Firestone Diamonds plc agreed to a $15 million standby debt facility with Resource Capital Fund VI L.P., subject to shareholder approval, which would satisfy one of the remaining conditions to the drawdown of its Absa debt facility....
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Financial-Legal
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Apr 24, 2015
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Jeff Miller
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Peregrine Diamonds Raises $12M
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Peregrine Diamonds Ltd. raised $11.9 million on April 6 at the close of the exercise period of 56,457,618 warrants that were issued October 6, 2014. The company is focused on diamond exploration and development in Canada, where it has discovered...
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Mining
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Apr 07, 2015
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Jeff Miller
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Financial-Legal
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Apr 07, 2015
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Jeff Miller
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Kingold Jewelry Receives $15M Investment
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Kingold Jewelry Inc. entered into a convertible note purchase agreement with a majority-owned subsidiary of Fosun International Limited that will result in proceeds of $15 million when the transaction closes. The proceeds will be used to accelerate...
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Financial-Legal
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Apr 06, 2015
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Jeff Miller
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Banks Need More Transparency From the Diamond Industry
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Antwerp World Diamond Centre's (AWDC) keynote speaker, Herman Van Rompuy, the former European president, told industry attendees at a financing seminar on March 27 that no one can bypass market rules anymore. And this advice...
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Financial-Legal
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Mar 30, 2015
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Marc Goldstein
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Kennady Diamonds' Private Placement to Raise $16M
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Kennady Diamonds Inc. is undertaking a non-brokered private placement to raise approximately $16 million (CAD 20 million) through a combination of common shares and flow-through common shares. The common shares to be issued have been priced at $3.55 and...
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Financial-Legal
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Feb 09, 2015
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Jeff Miller
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DGSE Extends Loan Agreement Two Years
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DGSE Companies Inc. extended the term of its loan agreement and revolving credit note with NTR Metals LLC from August 1, 2015 until August 1, 2017. NTR is an affiliate of Elemetal, LLC, which is DGSE’s largest...
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Financial-Legal
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Feb 06, 2015
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Jeff Miller
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