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Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
Anglo Platinum H1 core earnings drop
The impact of lower prices reduced EBITDA by R14 billion, while the effect of the lower sales volumes, due to the benefit in 2021 of the release of work-in-progress inventory, was to reduce EBITDA by a further R6 billion.
The company recorded an EBITDA margin of 59% during the period, despite lower sales volumes compared to the prior period.
Anglo Platinum said its net sales revenue also dropped 20% to R85.6 billion in the first half lower than R107.5 billion in the first half of 2021.
Meanwhile, Total PGM production from own-managed mines and owned volume from joint operations (comprising platinum, palladium, rhodium, iridium and ruthenium metal in concentrate, and gold) decreased by 7% to 1,3 million PGM ounces in the first half compared to 1,4 million PGM ounces, a year earlier.
Anglo Platinum chief executive Natascha Viljoen said full-year metal-in-concentrate production is expected to remain unchanged at between 3.9 million PGM ounces and 4.3 million PGM ounces, and refined production will also remain at between 4 million ounces and 4.4 million ounces.
“In the PGM markets, the forecast is for platinum’s surplus to gradually move towards a deficit due to a significant increase in automotive platinum demand, as some platinum replaces palladium in gasoline catalysts,” she said.
“Palladium is likely to move into surplus for the opposite reason, though to what extent will depend on what happens to automotive production. Rhodium should head back into deficit after two years of surplus.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished