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...

Yesterday

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

RBPlat H1 earnings fall due to falling PGM prices, lower 4E output, rising inflation

31 july 2023

Royal Bafokeng Platinum (RBPlat) is expecting lower profitability in the six months ending June 30, 2023, due to a weaker Platinum Group Metal (PGM) price environment, less platinum, palladium, rhodium, and gold (4E) ounce production, and inflationary pressures.

It also reported a drop from basic earnings per share (EPS) and headline earnings per share (HEPS) to estimated basic loss per share (estimated LPS) and estimated headline loss per share (estimated HLPS), primarily due to poor PGM prices.

The drop in rhodium price was particularly noteworthy, falling by 50% and helping to contribute to a 23.6% drop in the basket price per 4E ounce.

Inflation was higher than the Consumer Price Index, and the company had problems running its Styldrift mine.

Foreign exchange profits on the devaluation of concentrate due to the weakening of the rand versus the US dollar mitigated some of this.

Shareholders were informed by RBPlat that the company expects its LPS for the first half of 2023 to be 117.0 cents, representing a fall of 115.3% from the basic EPS of 765.4 cents reported for the prior-year period.

The projected HLPS is 113.8 cents, down 114.8 % from the HEPS of 767.3 cents in the prior-year period.

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