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.


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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Udokan Copper will start production by the end of 2023

06 july 2023

The Udokan copper company which develops the Udokan copper deposit intends to launch production before the end of this year, TASS reports.

The Udokan copper field is the largest in Russia and one of the largest in the world. Udokan's copper resources are estimated at 26.7 million tons. It is located in the Kalarsky district of the Trans-Baikal Territory.

The company expects that the first start-up complex at Udokan will be brought online before the end of this year, while the hydrometallurgical plant is set to become operational in early 2024, TASS quoted the company as saying.

"Today, the plant is one step away from completion, and we are focused on commissioning, cold and hot testing of equipment. This year, as planned, we will launch an enrichment plant, and a hydrometallurgical plant at the beginning of next year," the company said.

Udokan Copper also announced the completion of the international feasibility study for the second stage of construction at Udokan, its launch is now scheduled for 2028.

"Preliminarily, we plan to launch the second stage of the Udokan project in 2028. To date, a feasibility study for the project of the second stage of the Udokan mining and metallurgical complex has been completed, as well as technological regulations for designing a plant with a capacity of 24-28 million tons of ore per year," the company noted.

According to Aleksey Yastchuk, CEO of Udokan Copper, at the end of 2024 the company plans to reach the design capacity of 15 million tons of ore per year with the production of up to 150 000 tons of copper. The first and second stages at the Udokan will ensure the annual processing of about 40 million tons of ore and the production of about 400 000 tons of copper, the company said.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished