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...

16 april 2024

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

Mining volumes remain constrained – Tharisa

17 july 2023

Platinum Group Metals (PGMs) and chrome co-producer Tharisa says mining volumes at its mine, located in the south-western limb of the Bushveld Complex in South Africa, remain constrained.

The miner said its PGM output marginally rose to 37 000 ounces (oz) in the third quarter ended 30 June 2023 compared to the previous quarter’s 34 300 oz with yield maintained and recoveries improving.

It said chrome output eased to about 379 000 tonnes in the period under review from the second quarter’s 405 000t on steady grades, yield, and recoveries.

“The quarter … allowed us to review our in-pit mining plan with the appointment of a waste material contractor helping to ensure sustainable access to the required reef horizons,” said company chief executive Phoevos Pouroulis.

“Our output will, however, remain subdued for the remainder of the year as we focus on mining flexibility for sustainable reef operations.”

Meanwhile, Tharisa said the metallurgical grade chrome concentrate prices rose 7.8% quarter on quarter averaging $290/t compared to the previous quarter’s $269/t.

Pouroulis said the company benefitted from continued favourable chrome pricing while dealing with PGM pricing pressures, resulting in strong free cash generation - ending the period with a further strengthened balance sheet with net cash of over $140 million.

Tharisa also owns Karo Platinum, a low-cost, open-pit PGM asset under construction and located on the Great Dyke in Zimbabwe.

“At Karo, we remain on track with project construction, completing our first concrete pour in June, with pilot mining having commenced,” said Pouroulis.

“The equity contribution by Tharisa of $135 million is being drawn down to match capital requirements with cash flow as we finalise the senior debt portion for this globally strategic mine.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished