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

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

Kumba Iron Ore boosts H1 output as sales dip

24 july 2023

Kumba’s iron ore production increased by 6% to 18.8 million tonnes (Mt) in the first half of 2023 compared to the previous year’s 17.8 Mt, underpinned by Kolomela’s recovery.

Kolomela’s production rose by 22% to 6 Mt, reflecting the benefit of improved ore feedstock availability at the mine.

Sishen's production was broadly flat at 12.8 Mt from the previous year’s 12.9 Mt in the first half of 2022, owing to a decrease of 9% in the second quarter due to a build-up of finished stock at the mine due to logistics constraints.

However, multiple disruptions, including derailments and cable theft on the Transnet rail line, resulted in ore shipments to Saldanha Bay Port decreasing by 3% as of June 30, 2023.

With lower finished stock levels at Saldanha Port, sales decreased by 4% to 18.9  (Mt) in the first half of 2023 compared to 19.7 Mt in the corresponding period last year, reflecting South Africa’s Transnet logistics challenges and low finished stock levels at Saldanha Bay Port.

Company chief executive Mpumi Zikalala said Kumba achieved an average realised price of $106 per wet metric tonne (wmt) relative to the benchmark price of $102/wmt.

"We continued to see good demand for our high-quality iron ore products, with 30% of the AngloAmerican group’s iron ore customers, including Kumba (based on sales volumes), covered by partnerships to develop decarbonisation technology," she said.

Zikalala said China's pace of economic growth and steel demand slowed in the second quarter following a strong start to the year, while global economic weakness in key markets outside of China persisted. However, iron ore prices are supported as stock at mills in China is at a five-year low and supply remains tightly balanced, she said.

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