South Africa Executes First Diamond Loan

Mining Weekly reported Asia Diamond Corporation executed the first margin loan against diamonds in South Africa.

As quoted in the market news:

 A South African-born Australian, he flagged the concept of diamond lending for the first time in 2010 and tried to implement it when he set up the Singapore Diamond Exchange (SDX), of which he was the principal architect and cofounder. After leaving the SDX in 2011, he set up the Asia Diamond Corporation with equity partner commodity investor and cofounder of the Quantum Fund Jim Rogers.

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