Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...


Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Norilsk Nickel purchases material and technical resources in the amount of about 180.6 billion rubles

31 may 2023
By the end of 2022 Norilsk Nickel has concluded more than 4.400 contracts for the supply of material and technical resources for centralized procurement in the amount of about 180.6 billion rubles, according to the company's report on sustainable development for 2022.
"We live in new conditions. Norilsk Nickel has faced a number of new and unprecedented challenges for us related to our sales activities and logistics. Maintaining leadership positions and advancing the strategy of sustainable development has become doubly difficult for us in modern realities. Both from the point of view of transport and from the point of view of suppliers of modern technologies. Therefore, we had to enter new markets, look for new partners," said Vladimir Zhukov, Vice President for Investor Relations and Sustainable Development.
Norilsk Nickel's supply chain management processes include both interaction with suppliers of mineral raw materials in the upstream sector and monitoring the sustainability of their practices and procedures, as well as ensuring high quality products in the downstream sector, the report says.
In the future, Norilsk Nickel plans to expand supply chain management processes, which will also cover suppliers of goods and services, reports.
"The company's financial model has maintained a high degree of stability, even despite significant pressure from external circumstances and challenges. EBITDA, a key indicator that characterizes our financial results, decreased by almost 20% last year. Free cash flow has decreased almost tenfold. The amount of taxes paid by us last year remained unchanged. At the same time, all total costs for sustainable development increased by 30% to $3.9 billion. Thus, Norilsk Nickel, despite the pressure that our financial model is experiencing, confirms the priority of maintaining sustainability," Zhukov stressed.

Alex Shishlo for Rough&Polished