Petra's half year output, revenue dip on the back of a weak diamond market

Petra Diamonds’ production decreased marginally by 2% to 1.4 million carats in the first half (H1) of the financial year (FY) 2025 from 1.43 million carats a year earlier.

Yesterday

India's gem & jewellery exports, imports steadily decline in current fiscal year - GJEPC

The Gem & Jewellery Export Promotion Council (GJEPC) has released monthly data on the country's diamond trade for December 2024, and also summed up the interim results of the current fiscal year that began on April 1.

Yesterday

RapNet and AGTA to jointly launch gemstone trading network

Online diamond trading network RapNet has collaborated with the American Gem Trade Association (AGTA) to launch its Gemstone Trading Network for loose coloured gems.

Yesterday

Lucapa identifies large base metal targets at Merlin diamond project

Lucapa Diamond has identified two large and highly conductive base metal targets from the first geophysical survey conducted at its Merlin diamond project in the Northern Territory, Australia.

Yesterday

Chile’s Codelco to borrow $1.5 billion to fund copper production

Santiago-headquartered Codelco, world’s largest copper producer, is tapping the bond market to borrow about $1.5 billion to fund its mine investments.

Yesterday

Human-Centric Arctic

06 january 2025

By Andrei Yershov

The Council for the Development of the Far East, Arctic and Antarctic under the Federation Council of Russia has made "human-centric" development of the regions the main topic of its meetings in 2024. The key to solving the problems facing the Arctic Zone of the Russian Federation (AZRF) is the active participation of businesses in the implementation of large-scale public-private partnership projects.

Sakhamin Afanasyev, member of the Federation Council Committee on Federal Structure, Regional Policy, Local Government and Northern Affairs, reported that the authorities, together with the NAFI Analytical Center, conduct research annually to identify and implement the most pressing requests of citizens living in the Arctic zone.

According to him, healthcare issues traditionally come first, infrastructure comes second, followed by roads, housing and the environment. "It is important that while outlining master-plans, the development of key settlements is determined with consideration of real opinions of citizens. It is necessary to maintain this practice when forming comprehensive plans for long-term socio-economic development,” Afanasyev said.

He is confident that these tasks can only be solved through the joint efforts of the government, business and civil society. In this regard, the senator recalled the large-scale renovation program for the city of Norilsk. "It is necessary for companies operating in the Arctic to actively join this work," he added.

The senator also drew attention to the fact that many tasks in the Arctic Zone of the Russian Federation are being solved by socially responsible businesses together with NGOs and volunteers. In particular, he mentioned the Clean Arctic project, which is aimed at cleaning up Arctic territories from pollution.

Senators regularly visit Norilsk to oversee the implementation of an agreement between the Russian government, the Krasnoyarsk territory, the city of Norilsk and Norilsk Nickel aimed at comprehensive socio-economic development. As previously noted by the head of the upper house of parliament, Valentina Matviyenko, who visited the region in February 2024, the city has become noticeably better during the comprehensive renovation. "This is an indicator that the efforts being made, investments in human capital, medicine, culture, leisure and sports are paying off," the Federation Council speaker believes.

Among other promising "human-centric" projects to be implemented in the Arctic zone in the coming years are: a comprehensive overhaul of more than 1,250 residential buildings in the Murmansk region; an ice arena in the city of Murmansk for 3,000 people; Naryan-Mar seaport modernization; resettlement of dilapidated and emergency housing in Labytnangi and Salekhard; reconstruction of the Arkhangelsk - Kuya port highway; building a bridge across the Ob River; and many others. In general, projects related to healthcare, infrastructure development, road and housing construction, ecology, creation of new and improvement of existing public, cultural, sports and leisure spaces will be implemented in 16 agglomerations of the Arctic zone of the Russian Federation, where 1.6 million people live.