Lucapa Diamond Company (ASX:LOM) has engaged administrators following a cost cutting exercise and halving of its corporate workforce, with US President Donald Trump’s trade tariffs putting pressure on pricing and demand for diamonds. Richard Tucker and Paul Pracilio of KordaMentha Restructuring have been appointed as voluntary administrators. Lucapa has a 40% stake in the Lulo […]
Rare earths developer Pensana (LSE:PRE) has received approvals for the full financing totalling US$268 million ($424 million) for its Longonjo rare earth project in Angola. The Africa Finance Corporation (AFC) has approved its US$81.2 million participation in an US$160 million syndicated loan facility alongside major South African bank Absa Bank. The funding is subject to […]
China’s Guangzhou Futures Exchange (GFEX) on Thursday 26 December began trading polysilicon futures, with the trading of options to open today (27 December), according to China.org.cn. On the first day of trading, 331,300 lots of polysilicon futures reportedly changed hands, resulting in a turnover of about ¥41.64 billion yuan (US$5.79 billion). The listing of polysilicon […]